Tilted Forum Project Discussion Community - View Single Post - 1992 Redux: Will "it's the economy, stupid", Be The Big Campaign Issue?

aceventura3 · 03-14-2007, 08:55 AM

I read this morning in IBD that new forclosures as a percentage of total mortgages are at an all time high - 0.54%. That is about 1 in 200 homes with mortgages. Mortgage deliquency rates are at 4.5%, highest in about 4 years. Adjustable subprime loan deliquency rates are at 14.4%, again the highest in 4 years. Many think things will get worse before getting better. I think panic is going through the market. I will sit on the sidelines until the dust settles.

The irony is that once this all settles, many hard-working middle class and poor will not be able to buy homes. Small mortgage companies and banks will have to operate in an environment with increased regulation, making them less competetive with the big banks. The market will be less competetive and consumers will pay higher fees and higher interest rates. Big banks, big corporations, and the rich will win. If you think that is a good thing - keep encouraging panic.

03-14-2007, 08:55 AM	#53 (permalink)
aceventura3 Junkie Location: Ventura County	I read this morning in IBD that new forclosures as a percentage of total mortgages are at an all time high - 0.54%. That is about 1 in 200 homes with mortgages. Mortgage deliquency rates are at 4.5%, highest in about 4 years. Adjustable subprime loan deliquency rates are at 14.4%, again the highest in 4 years. Many think things will get worse before getting better. I think panic is going through the market. I will sit on the sidelines until the dust settles. The irony is that once this all settles, many hard-working middle class and poor will not be able to buy homes. Small mortgage companies and banks will have to operate in an environment with increased regulation, making them less competetive with the big banks. The market will be less competetive and consumers will pay higher fees and higher interest rates. Big banks, big corporations, and the rich will win. If you think that is a good thing - keep encouraging panic. __________________ "Democracy is two wolves and a sheep voting on lunch." "It is useless for the sheep to pass resolutions on vegetarianism while the wolf is of a different opinion." "If you live among wolves you have to act like one." "A lady screams at the mouse but smiles at the wolf. A gentleman is a wolf who sends flowers."