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investors: One possible solution to this whole mortgage mess - 09/30/08 02:27 AM
Granted I don't have a fancy economics degree at the end of my name, but I've been in the trenches for several years, and I guess I've learned a thing or two. Here is the one thing that I think these law makers should keep in mind. "Don't allow anyone to think they get a free lunch". That applies to the banks and the borrowers for that matter.
My solution is actually a modification of the current program we already have in place for FHA loans. The root of this problem is rapid property devaluation in basically three states. The sudden … (14 comments)
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investors: Oil retreating.....Guess it can't go up forever after all! - 07/15/08 05:22 PM
Over the past few months I've been predicting a crash in the oil market. I'm not some economic sage or expert, but like the average person, I'm endowed with a mind and I feed it constantly with information. Like any market, oil and commodities are dictated by demand. When economies correct themselves or recede temporarily, then demand in commodities and metals declines. Case in point is this rush to pour cash into the commodity market. Real estate has been down since the end of 2007, and so many investors are continuing the party in commodities. So far it's been great, the … (4 comments)
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investors: Does anyone really understand whats going on with the economy?? - 06/06/08 05:28 PM
This week is just one example of how ridiculous the global markets are these days. First comes a report that the stimulus package is working for retail sales....Hurrah!!! Then today we hear about poor labor numbers....DEPRESSION!!! Oh come on already!!! I loved this article off of bloomberg today...Article
Then in regards to oil prices spiking today. Can you say...AN EXCUSE TO JACK UP THE MARKET ALL YE SICKO OIL INVESTORS....Yes, it's another case of using any type of news as an excuse to jack up the price of oil. The problem is the price is unsustainable, just like the real estate … (3 comments)
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investors: You gotta be worried if you live in LA county.... - 04/22/08 03:02 PM
327% Foreclosure increase from 2007 in LA county
Can you say.....OUCH.....
This reminds me of 1995 and 1996 in the Palm Springs market. I remember speaking to home owners that told me these incredible stories of homes that people walked away from in droves. Now the problem may even be much worse, but that doesn't surprise me.
Let's be intellectually honest at this point. Who's really to blame? Is it really the lenders? Is it really the borrowers? Or is it a combination of many factors, which I tend to believe. The problem is it didn't happen over night, and like we're seeing in … (3 comments)
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investors: I'VE HAD IT....No means NO!!! - 07/12/07 10:26 AM
Some of you who are mortgage professionals may know what I'm going to write about next. There has been a recent slow down in the Utah market. This market has like previous market's in Las Vegas and Phoenix has posted some impressive increases in values in the past two years. But now like most market's, what goes up will go down. Unfortunately we've had an increase in the number of investor loans from those within the state and buyers from other locations. This has caused there to be an inordinate number of homes to be listed with the MLS and privately. … (7 comments)
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