When thr other shoe falls

Real Estate Agent with Frank Rubi Real Estate
I recently read there is over a trillion dollars of securitirized low grade mortgages outstanding and three-quarters of a trillion dollars whose adjustable rates are slated to rise over the next year.  This means the other shoe hasn't fallen yet.  I believe until this is worked out of the system the nausea in the housing industry will persist.  This will take longer than I first thought.  This will take two to three years more of pain.  Those of us who hang in there should be rewarded over time.
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Comments (2)

Crystal Pina
774.289.5521 - Worcester, MA
Remax Professional Associates
I can't even wrap my mind around those kinds of numbers! As we saw today, Pres Bush has no sympathy for the families involved, either.
Aug 31, 2007 08:24 AM
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
John, what this is telling me that we should all load up the opportunity boat. If this is a buyers market shouldn't everyone buy. I am involve with two short sales and a purchase. The purchase is a 4 plex which in July I offer 295 now he is considering 275.  Load up the boat it is fishing time.
Sep 01, 2007 02:59 AM

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