New York Times Equity Article...Uhgghh

By
Real Estate Agent with Windermere

I read this article yesterday in the New York Times regarding the latest lender problems we are facing as a profession. While I usually can write off these tactics of the media trying to scare the public into thinking the sky is falling, this one IS pretty scarey because you are dealing with huge corporations that don't care what your buyer/seller story is. I will say that if you look at some of the stats they use( "In December, 5.7 percent of home equity lines of credit were delinquent or in default, up from 4.5 percent in 2006, according to Moody's Economy.com.") it might not be as bad as they are making it out to be because what I don't see is what 'normal' rates of delinquincy are. As I remember, 2006 was great for your market and our industry as a whole.

You can click on the link belowe to go directly to the New York Times website for the article.

http://www.nytimes.com/2008/03/27/business/27loan.html?ei=5065&en=9f7a9c9b8785d2ff&ex=1207281600&partner=MYWAY&pagewanted=print

Are there any lenders out there who have any stats they can provide for comparison?

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Tags:
new york times equity problems homes sale bellingham wa

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
30,475

Patrick Johnson

Ask me a question
*
*
*
*