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Interesting news day

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Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida

Steve Owen

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Missouri
Fannie Mae and its Partners Enable 20,000 Borrowers to Avoid Foreclosure and Remain in Their Homes

Translation: they have come up with some solutions about how to deal with the fresh powder; they may not be able to handle the coming avalanche.

New-Home Sales Decline From Record Pace In January

"Fundamentals in the market for new single-family homes remain quite solid, including long-term mortgage rates that are now hovering in the 5.8% range," Seiders added

Translation: the new home market is DOA at 6.25% interest.

No Nationwide Housing Price Bubble, Study Suggests

Translation: PMI insurers go belly-up if the nationwide housing stock declines in value - my guess: real problems at 10 percent decline.
 

Dee Dee

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Steve,
I like your 'avalanche' statement.
Sounds much more manly and serious, and accurately depicts what could happen in the housing market much better than 'bubble'.
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
8O :!: Points well made, Steve.
~~~~~~~~~
Lender friend (don't stone me, he really is a friend)
says his new rate sheet indicated

5.5% on a 30, no points :eek:
4.75% on a 15, also no points...
3.5% ARM WITH a cap! 8O :!:

....can you say free-fall?!?!?

purchase money IS available
(for anyone who still has a JOB)
8O
~~~~~~~~~~
When the current leap in fuel prices, added to the compounded effect that new higher increase will soon have on anything delivered from one point to another at any point in its process...

whadda you think effect it is going to have on joe-no-raise THIS year, (better be glad you have a job, son...)?

Exactly how much damage control do you think is going to be needed :?: .....
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
Pam:
Yup... but the dealers are stacking the cards...
 

Dee Dee

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Humans are still animals. Nature has it's ways of survival of the fittest.

Yup. Let the cannibalism begin! :wink: :lol:
 

Dee Dee

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Bemis,
It'll be interesting to see what will happen if the economy really bites the dust. For now I'm just trying to figure out just exactly how I fit on the food chain. Seems like it's going against nature, wherein the scum sucking bottom feeders have somehow managed to make it to the top.
Go figure. :roll:

Dee Dee
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
Noblesse Oblige is no longer required of those at the top.

With no king or hereditary rulers of popular acclaim, the young lions really tend not to care for the pride welfare. Nor can you liken them to wolves, as there is at least some logic to how they eat their own.

Cannibalism probably IS the best term.

scary thought.

Not sure Darwins rules will apply.
 
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