What is going on? All we hear on the news is the financial markets are crashing. The housing market is in dissarray. Home Inventory is up to nine months. Liquidity crisis is forcing banks out of business.
Well individuals need to make sound decisions concerning their finances and so do businesses. We need to save 15% of our income for our future why don't banks? The last 10-15 years have been a windfall for banks and Fannie Mae, Freddie Mac. Profits have soured. What happened to that money? Why don't banks save for the rainy day.
I try to coach all my first time home buyers to save for the rainy day. It still rains, despite global warming.
Ron Yarbrough - Kansas City Mortgage Expert