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Did the Fed Just Accidentally Trigger a Housing Market Crash?


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Just now, spin_dry said:

The swamp has been successfully drained. You win!!

You were the one that won't pull the drain plug.  Keep voting for those 80's democrats, they have been in favor of all the bailouts.

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1 minute ago, racer254 said:

You were the one that won't pull the drain plug.  Keep voting for those 80's democrats, they have been in favor of all the bailouts.

Keep rowing the trump boat. Faster. Faster. Faster 

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3 minutes ago, Angry ginger said:

never said any of this was the borrowers fault.  the broken mortgage market isn't just going to fuck over the large lenders that some would be happy to see implode.  it effects people on the streets.   We tightened guidelines in 72 hours to almost worse than we saw during the financial crash,  not because we wanted to but because to survive we can't write loans that investors won't buy.  We have customers who should be seeing a 200/mo payment drop who now won't be able to close because their product disappeared.  

I mentioned the difficulty of getting a mortgage loan over 3 weeks ago. It was campfire talk with 2 different families trying to sell their homes in the midwest but the buyers were suddenly having trouble securing the loan. 

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8 minutes ago, AKIQPilot said:

I mentioned the difficulty of getting a mortgage loan over 3 weeks ago. It was campfire talk with 2 different families trying to sell their homes in the midwest but the buyers were suddenly having trouble securing the loan. 

combine the layoff with the tightening guidelines and it's going to effect a lot of people.  we might actually see a bit of a buyers market on the backside of this once people are back to work but inventory right now is thin so prices are not going down.  

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1 hour ago, frenchy said:

I wouldn't mind seeing those Airbnb super hosts get kicked square in the nuts over this they are a big reason why housing prices keep home ownership out of the reach of many. 

It's the little guys that will be fucked over just like always.  The ones that overextended themselves, just like always.

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8 minutes ago, Angry ginger said:

combine the layoff with the tightening guidelines and it's going to effect a lot of people.  we might actually see a bit of a buyers market on the backside of this once people are back to work but inventory right now is thin so prices are not going down.  

new home starts are going like mad around here. I'm betting some of these builders are going to be sitting on a lot of inventory. 

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3 minutes ago, frenchy said:

new home starts are going like mad around here. I'm betting some of these builders are going to be sitting on a lot of inventory. 

Big money to be had in the future buying up semi-developed, residential zoned land from bankrupt developers and builders.  Spec houses on the cheap too!  We don’t have any of that around here.  Our liberal government kills all growth before it can start.  

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22 minutes ago, frenchy said:

new home starts are going like mad around here. I'm betting some of these builders are going to be sitting on a lot of inventory. 

 Could be a money maker in the future for those with the money to buy up inventory. Of course that depends on how long this goes on. Too long and it’ll be a scenario like las Vegas in 2009 and 2010 where new, partially built stuff was destroyed because of mold and rot. 

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45 minutes ago, AKIQPilot said:

I mentioned the difficulty of getting a mortgage loan over 3 weeks ago. It was campfire talk with 2 different families trying to sell their homes in the midwest but the buyers were suddenly having trouble securing the loan. 

Two homes on my street just sold. One last week and the other the week before. $230-250k homes. Which is a lot in this area. 

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21 minutes ago, spin_dry said:

Two homes on my street just sold. One last week and the other the week before. $230-250k homes. Which is a lot in this area. 

Yea, these people sold their homes too. More expensive homes than that. The problem came at closing when the banks decided not to loan the money. 

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Just now, AKIQPilot said:

Yea, these people sold their homes too. More expensive homes than that. The problem came at closing when the banks decided not to loan the money. 

Were the homes not worth the mortgage value?

 

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1 minute ago, AKIQPilot said:

Yea, these people sold their homes too. More expensive homes than that. The problem came at closing when the banks decided not to loan the money. 

The new owners are already in the home. What a difference a few weeks makes when realtors were showing up at my house wondering if I want to sell. 

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1 minute ago, spin_dry said:

The new owners are already in the home. What a difference a few weeks makes when realtors were showing up at my house wondering if I want to sell. 

You better have good credit. As the ginger said the products for folks that don’t is quickly disappearing.

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4 minutes ago, spin_dry said:

The new owners are already in the home. What a difference a few weeks makes when realtors were showing up at my house wondering if I want to sell. 

The real estate market was already dead around here and up north, with no inventory.  Now there is no more showings and a supply is even worse.

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52 minutes ago, Zambroski said:

Big money to be had in the future buying up semi-developed, residential zoned land from bankrupt developers and builders.  Spec houses on the cheap too!  We don’t have any of that around here.  Our liberal government kills all growth before it can start.  

Hey Stumpy Gecko I thought you were going to buy up foreclosures and throw people out without a second thought?  

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1 minute ago, Anler said:

Yes, once you get rid of those democrats we wont need anymore bail outs! 

I gave you the solution.  And it was a solution that would have stopped a lot of the issues the bail outs cause.

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Just now, Jimmy Snacks said:

Hey Stumpy Gecko I thought you were going to buy up foreclosures and throw people out without a second thought?  

Wut?  What led you back to this from my post.  Butt hurt?  Yea...

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3 minutes ago, racer254 said:

I gave you the solution.  And it was a solution that would have stopped a lot of the issues the bail outs cause.

^^^^^ this brain dead motherfucker is right in par with Dripper 

  • Haha 1
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