great article in the journal today. front page about sub prime saying their investigation shows the real estate market is much worse and also,to my surprise,many sub prime mortages went to the wealthy with good credit. why? because if they wanted a million dollar home and needed an 800,000 dollar mortgae,a conventional loan would only give them lets say 600,0000. so they go the subprome rout and get the full 800. they can't pay it and also the same with home equity. yeah,we've been down this road already and everyone knows about sub prime. what people don't know is thats its so much worse and not confined to those with bad credit.
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Wall Street Journal article---bad !!!!!
- Thread starter Warrior4g
- Start date
Anything has the potential to get worse but there is no evidence nor is it important
Quote from enforcer99:
great article in the journal today. front page about sub prime saying their investigation shows the real estate market is much worse and also,to my surprise,many sub prime mortages went to the wealthy with good credit. why? because if they wanted a million dollar home and needed an 800,000 dollar mortgae,a conventional loan would only give them lets say 600,0000. so they go the subprome rout and get the full 800. they can't pay it and also the same with home equity. yeah,we've been down this road already and everyone knows about sub prime. what people don't know is thats its so much worse and not confined to those with bad credit.
You're confusing conventional and conforming. Conforming loans are limited to $415,000. A conventional loan is any loan with a fixed-rate, prime or subprime.
Im seeing fire sales in san diego now.
The reduced price sign is everywhere these days.
Price discrepancies are getting silly.
I saw a home in one are for sale at $600K, and another comparable one a block away for $390K. Panic time.
$390?!??! In san diego? For a decent house in a nice area??? Unbelievable. Pop goes the bubble.
The reduced price sign is everywhere these days.
Price discrepancies are getting silly.
I saw a home in one are for sale at $600K, and another comparable one a block away for $390K. Panic time.
$390?!??! In san diego? For a decent house in a nice area??? Unbelievable. Pop goes the bubble.
Quote from stock_trad3r:
Anything has the potential to get worse but there is no evidence nor is it important
Your most likely right Stock_trad3r. But if not the Subprime headlines, the inflation fears should be sufficent enough to spook the markets and suck in more bears.
With either headline, there's sufficent downside potential to bear trap.
so, if I get it right, I should just blindly buy buy buy, anything as long as it has a symbol? No thanks, i've heard that story before
Quote from traderdragon2:
Im seeing fire sales in san diego now.
The reduced price sign is everywhere these days.
Price discrepancies are getting silly.
I saw a home in one are for sale at $600K, and another comparable one a block away for $390K. Panic time.
$390?!??! In san diego? For a decent house in a nice area??? Unbelievable. Pop goes the bubble.
Wow. Thats pretty good.