Comments on: Op-Ed Friday- Help Us Celebrate Our Anniversary

By: Carolyn Warren

Carolyn Warren — Sat, 02 Jun 2007 19:03:20 +0000

I’d love to give this creme to some loan officers I know!

Zero down financing–with Interest Only payments to make it affordable–seemed like such a good idea. Back then.

The plan was to let the home value continue to rise as it had in the past, and then refinance with equity, or sell and make a good profit. I’ve been privy to hundreds of conversations between loan officers and buyers, so believe me when I say it never entered anyone’s head that the market might not continue to increase. These loans were presented and perceived as a no-risk deal. Home buyers signed with enthusiastic anticipation. Too bad they didn’t know they were headed for a financial fire.

– Carolyn Warren, author, Mortgage Rip-Offs and Money Savers (Wiley & Sons)

By: twist

twist — Sat, 02 Jun 2007 07:49:39 +0000

Jan-Martin-

It was nice to see the NYT doing some historical comparisons. It is clear that these downturns don’t go away after a couple of months, but you wouldn’t know it to hear most of the analysts.

By: jan-martin feddersen

jan-martin feddersen — Sat, 02 Jun 2007 05:26:08 +0000

The Long Life Span of a Housing Downturn

http://www.nytimes.com/2007/06/02/business/02charts.html?ref=business

By: John M.

John M. — Sat, 02 Jun 2007 02:14:17 +0000

NVmike (comment #2) - I had some problems with your tiny, so here's a reference link. "Worst is over, real estate experts say", by Stephen Frater, HeraldTribune (SW Florida), June 1, 2007.

By: Regina

Regina — Sat, 02 Jun 2007 00:28:11 +0000

i think folks bought some of that creme here in california. house under construction, it mysteriously starts burning in several locations on the property, completely burned out, at 2:00 am, unfortunately there were no witnesses. the fire inspector says arson. crying homeowners (no tears) and a admission that they couldn’t wait to move in because they loved the house while looking lovingly into each other’s eyes. who could do this to us they cry. i foresee a lot of fire sales.

By: twist

twist — Fri, 01 Jun 2007 18:35:00 +0000

NVMike-

It looks like it’s time for someone to start LawrenceYunWatch.

Just when we thought it was safe to go back in the water….

By: NVmike

NVmike — Fri, 01 Jun 2007 17:59:02 +0000

Great news for South Florida! The NAR has calculated that worst is over! (again)

Worst is over, real estate experts say

Worst is over, real estate experts say
By STEPHEN FRATER

SARASOTA — In what seemed part of a campaign to arm real estate agents against naysayers and fence-sitting buyers, the National Association of Realtors’ top economist was in the region Thursday offering strong words of encouragement.

The softness that has bedeviled Southwest Florida’s residential real estate market for almost a year has just about run its course and will not last beyond another six to 12 months, said Lawrence Yun.
…

By: NVmike

NVmike — Fri, 01 Jun 2007 09:50:13 +0000

Very clever!