Comments on: Who Cut the Rates? California Dreaming and Double-Speak Housing. http://www.doctorhousingbubble.com/who-cut-the-rates-california-dreaming-and-double-speak-housing/ How I Learned to Love Southern California and Forget the Housing Bubble Sat, 30 Aug 2008 05:43:21 +0000 http://wordpress.org/?v=2.2.2 By: Mortgage Advisors http://www.doctorhousingbubble.com/who-cut-the-rates-california-dreaming-and-double-speak-housing/#comment-19219 Mortgage Advisors Mon, 30 Jun 2008 16:48:25 +0000 http://www.doctorhousingbubble.com/who-cut-the-rates-california-dreaming-and-double-speak-housing/#comment-19219 This is an insight as to how the UK mortgage and housing market will be in 12 months time. People over here are still in denial they think the market will bouce back. Feel sorry for the guy that cant sell his house for what he paid 4 years ago. This is an insight as to how the UK mortgage and housing market will be in 12 months time. People over here are still in denial they think the market will bouce back. Feel sorry for the guy that cant sell his house for what he paid 4 years ago.

]]> By: Snacker http://www.doctorhousingbubble.com/who-cut-the-rates-california-dreaming-and-double-speak-housing/#comment-6688 Snacker Fri, 25 Jan 2008 07:26:48 +0000 http://www.doctorhousingbubble.com/who-cut-the-rates-california-dreaming-and-double-speak-housing/#comment-6688 Excellent article. Love your insight. One of my favorite bubble blogs that I visit daily! I am so sick of the Fed which is so influenced by the financial industry they they might as well be wiping their butt and cleaning their nose for them. I am so sick of politicians who think they can pass a law to fix every problem when what they are really doing is creating more of a mess than they realize. What a power trip. Maybe they can pass a law to fix stupid politicians and get rid of the Fed. If Alan Greenspan, Wall Street's hero, and Ben Bernanke, who is ultimately one of the most influential people in the financial system, couldn't see this housing bubble coming, while many, many laypeople all over cyberspace could see this coming from a mile a way, what does this do for you confidence in the leadership of this country? I think they need to read this blog. Excellent article. Love your insight. One of my favorite bubble blogs that I visit daily!

I am so sick of the Fed which is so influenced by the financial industry they they might as well be wiping their butt and cleaning their nose for them. I am so sick of politicians who think they can pass a law to fix every problem when what they are really doing is creating more of a mess than they realize. What a power trip.

Maybe they can pass a law to fix stupid politicians and get rid of the Fed.

If Alan Greenspan, Wall Street’s hero, and Ben Bernanke, who is ultimately one of the most influential people in the financial system, couldn’t see this housing bubble coming, while many, many laypeople all over cyberspace could see this coming from a mile a way, what does this do for you confidence in the leadership of this country?

I think they need to read this blog.

]]> By: TW http://www.doctorhousingbubble.com/who-cut-the-rates-california-dreaming-and-double-speak-housing/#comment-6686 TW Fri, 25 Jan 2008 00:56:17 +0000 http://www.doctorhousingbubble.com/who-cut-the-rates-california-dreaming-and-double-speak-housing/#comment-6686 I'm curious about all the foreclosures and REO's that are taking place and will continue to take place. Are these transactions counted as a sale by the NAR when they release their monthly figures? Also, is that different than the local sales numbers that are released for communities and cities each month (i.e. if Los Angeles has 3,000 sales and 400 foreclosures or REO's, is the 400 included as a sale in the 3,000 number because ownership has changed?). I’m curious about all the foreclosures and REO’s that are taking place and will continue to take place. Are these transactions counted as a sale by the NAR when they release their monthly figures? Also, is that different than the local sales numbers that are released for communities and cities each month (i.e. if Los Angeles has 3,000 sales and 400 foreclosures or REO’s, is the 400 included as a sale in the 3,000 number because ownership has changed?).

]]> By: Exit http://www.doctorhousingbubble.com/who-cut-the-rates-california-dreaming-and-double-speak-housing/#comment-6685 Exit Thu, 24 Jan 2008 23:36:05 +0000 http://www.doctorhousingbubble.com/who-cut-the-rates-california-dreaming-and-double-speak-housing/#comment-6685 Just got off the phone with a recently downsized AE for an A-paper (not Alt-A or sub-prime guy), who is one of the good guys in the industry. While on the phone he read me an email from an underwriter he got 2 minutes earlier declining a loan based on (1) review appraisal lower by $15k and (2) 5% drop in LTV due to the loan being in a distressed area (as defined by FNMA). To answer Bartman's question - no - this does NOTHING to help people whose house's values have dropped, or who need stated income to qualify. It will prop up jumbo prices in OC for a while as realtors and sellers drink kool-aid and think the $600 lower monthly payment on that $600k loan (conforming vs. jumbo rates) will suddenly make the house more attractive to a knife-catcher. Uh, good luck with that. You still need about a $12k monthly income to qualify for that $600k loan - and that's with 10% down. The $600 stimulus package (can we get Beavis to say that?) needs to be about 100 times bigger. Just got off the phone with a recently downsized AE for an A-paper (not Alt-A or sub-prime guy), who is one of the good guys in the industry. While on the phone he read me an email from an underwriter he got 2 minutes earlier declining a loan based on (1) review appraisal lower by $15k and (2) 5% drop in LTV due to the loan being in a distressed area (as defined by FNMA).

To answer Bartman’s question - no - this does NOTHING to help people whose house’s values have dropped, or who need stated income to qualify. It will prop up jumbo prices in OC for a while as realtors and sellers drink kool-aid and think the $600 lower monthly payment on that $600k loan (conforming vs. jumbo rates) will suddenly make the house more attractive to a knife-catcher.

Uh, good luck with that. You still need about a $12k monthly income to qualify for that $600k loan - and that’s with 10% down. The $600 stimulus package (can we get Beavis to say that?) needs to be about 100 times bigger.

]]> By: CompaJD http://www.doctorhousingbubble.com/who-cut-the-rates-california-dreaming-and-double-speak-housing/#comment-6682 CompaJD Thu, 24 Jan 2008 21:27:16 +0000 http://www.doctorhousingbubble.com/who-cut-the-rates-california-dreaming-and-double-speak-housing/#comment-6682 Question for DHB. What do you expect to happen if Fannie Mae and Freddie Mac can purchase loans as high as $725,000? Question for DHB.

What do you expect to happen if Fannie Mae and Freddie Mac can purchase loans as high as $725,000?

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