Comments on: The Market Speaks http://www.economyguy.com/the-market-speaks/ Economic News For Everybody....by Tom Harvey and Cyrus Uible Mon, 06 Feb 2012 20:08:23 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: Tom Harvey http://www.economyguy.com/the-market-speaks/comment-page-1/#comment-501 Tom Harvey Thu, 16 Oct 2008 17:05:48 +0000 http://www.economyguy.com/the-market-speaks/#comment-501 Hi Darius and David, Banks are running very scared right now, and they are being "unfair" to their best customers. Perhaps "irrational pessimism" refers to banks. I've heard that FHA loans are some of the easiest mortgages to get right now. Hi Darius and David,

Banks are running very scared right now, and they are being “unfair” to their best customers. Perhaps “irrational pessimism” refers to banks. I’ve heard that FHA loans are some of the easiest mortgages to get right now.

]]> By: David http://www.economyguy.com/the-market-speaks/comment-page-1/#comment-500 David Thu, 16 Oct 2008 03:17:48 +0000 http://www.economyguy.com/the-market-speaks/#comment-500 As for RE mortgages, they are plentiful for Fannie and Freddie product. However for non-agency loans, whether bank, hard money, or other, I keep hearing loans are difficult to get. The housing market has a way to fall still. It will overshoot on the downside (just like it did on the upside), so my guess is about 1998 pricing depending on the area. In fact, for the California central valley, I guess it will take 20 years before homes are at peak pricing again. Does anyone really think that there is buyer demand for $600,000 McMansions when the median income is around $30k??? As for RE mortgages, they are plentiful for Fannie and Freddie product. However for non-agency loans, whether bank, hard money, or other, I keep hearing loans are difficult to get.

The housing market has a way to fall still. It will overshoot on the downside (just like it did on the upside), so my guess is about 1998 pricing depending on the area.

In fact, for the California central valley, I guess it will take 20 years before homes are at peak pricing again. Does anyone really think that there is buyer demand for $600,000 McMansions when the median income is around $30k???

]]> By: David http://www.economyguy.com/the-market-speaks/comment-page-1/#comment-499 David Thu, 16 Oct 2008 03:10:14 +0000 http://www.economyguy.com/the-market-speaks/#comment-499 I heard a good one recently; "irrational pessimism" The only problem is that I think the current pessimism isn't that irrational at all. In fact it is quite rational. I heard a good one recently; “irrational pessimism”

The only problem is that I think the current pessimism isn’t that irrational at all. In fact it is quite rational.

]]> By: Darius http://www.economyguy.com/the-market-speaks/comment-page-1/#comment-498 Darius Thu, 16 Oct 2008 01:46:21 +0000 http://www.economyguy.com/the-market-speaks/#comment-498 Mortgages will decline until investors can take up the slack in the market! I'm having a harder and harder time getting financing for rental properties. I have multiple units with the proven ability to purchase, rehab, and profitably manage rental houses. The last thing banks should be doing is discouraging myself and those like me! If they want the values of their current mortgaged properties to stop sliding, they should start playing nice with the people in a position to repair this dam. Why bend over backwards to keep irresponsible, or at least over-stretched, owners in their homes when there are investors with the clear ability to take them over and make the payments every month? I know, I'm biased, but it just makes sense to me... Mortgages will decline until investors can take up the slack in the market! I’m having a harder and harder time getting financing for rental properties. I have multiple units with the proven ability to purchase, rehab, and profitably manage rental houses. The last thing banks should be doing is discouraging myself and those like me! If they want the values of their current mortgaged properties to stop sliding, they should start playing nice with the people in a position to repair this dam. Why bend over backwards to keep irresponsible, or at least over-stretched, owners in their homes when there are investors with the clear ability to take them over and make the payments every month? I know, I’m biased, but it just makes sense to me…

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