I don't have a feel for how much volume traded on the highs TM. Surely some are stuck but sooner or later that's always the case in every market. Just the same there's going to be bargains in some formally over heated areas.
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Fed's Bies says high potential for housing correction
- Thread starter S2007S
- Start date
I don't have a feel for how much volume traded on the highs TM. Surely some are stuck but sooner or later that's always the case in every market. Just the same there's going to be bargains in some formally over heated areas.
Quote from TM_Direct:
Pabst
all true...However your missing the fact the loans are being called on these homes....If your paying 2500 for a 400K hom thats fine...If the value drops to 300K....that's still fine...But what happens when the value drops and your NEW ARM causes your monthly payment to jump to 4000 per month?????? That is when the the fun starts
Why doesn't anyone see it? Seems to me as much as I believe ARMS resetting will hurt the housing sector even further, it seems it has no impact on retail spending, employment or GDP.
I don't buy the retail spending #'s they flush out...How's Ford and GM doing? i think the big ticket stuff is going to get flushed out too...Oil down has certainly helped create excess cash in americans pockets, but i think the days of taking a 2nd mortgage and buying your dream boat are over for now.
What exactly is Bies saying?
She's so mealy-mouthed, I doubt she even knows the intent of her words.
She's so mealy-mouthed, I doubt she even knows the intent of her words.