Friday, October 26, 2007


This new chart of coming mortgage resets has been covered well at Calculated Risk, Dr. Housing Bubble, and The Great Loan Blog, but I wanted to bookmark it here too.

Second is this YouTube video of Fox News with Peter Schiff vs. guys who predicted 10% gains last year, from Housing Panic yesterday. Quotes:
"Will homes be worth more or less in 2007?"

"Today's home prices are completely unsustainable. They were bid up to these artificial heights by a combination of temporarily-low adjustable-rate mortgage payments, a complete absence of lending standards and by speculative buying."

"These sky-high real estate prices are going to come crashing back to earth. There's no way to stop it other than the Federal Reserve creating so much inflation...."


Anonymous said...

Did you see this week's report by Goldman Sachs that estimates CA homes prices are 35% to 40% overvalued? After the ARM resets in 2008-09, the wave of Option recasts will remove another large source of buyers from the market. This could continue well into 2001-12.

Anonymous said...

wait a second -- so i'm not going to be able to buy a house till 2011 or 2012?

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