NAR Sees Gradual Housing Recovery Based on Several Assumptions
by Adam Quinones
(My insert: This is from the end of Adam's article that you can access at the link below - Dan)
Plain and Simple: Correct me if I am putting words in Lawrence Yun's mouth here but it sounds like he is saying...IF WE CREATE 2 MILLION JOBS...IF MORTGAGE RATES ONLY RISE MODERATELY...IF LENDERS RETURN TO MORE NORMAL (SAFE) UNDERWRITING GUIDELINES...IF HOME PRICES DON'T DOUBLE-DIP...IF IF IF.....housing will only GRADUALLY RECOVER.
Sounds like a lot of IF's need to play out just to see a GRADUAL housing recovery. Oh well. We gotta start somewhere.
Call me when GSE reform is done. Call me when we figure out how in the hell we're gonna deal with excessive excess inventory. Call me when common sense makes it way back into underwriting guidelines and lenders stop overlaying already overdone overlays. Call me when the CFPB is finally set up or when the GFE and TIL are successfully combined.
Ugh. Call me when regulators question how REALTORS GET PAID.
SORRY SORRY...
I am not attempting to start any poo flinging fests. We all need to come together as housing professionals here. My simple point is...there is a ton of uncertainty out there: Rationalizing the Spike in Mortgage Rates with No Rationality At All
http://www.mortgagenewsdaily.com/12302010_pending_home_sales.asp
by Adam Quinones
(My insert: This is from the end of Adam's article that you can access at the link below - Dan)
Plain and Simple: Correct me if I am putting words in Lawrence Yun's mouth here but it sounds like he is saying...IF WE CREATE 2 MILLION JOBS...IF MORTGAGE RATES ONLY RISE MODERATELY...IF LENDERS RETURN TO MORE NORMAL (SAFE) UNDERWRITING GUIDELINES...IF HOME PRICES DON'T DOUBLE-DIP...IF IF IF.....housing will only GRADUALLY RECOVER.
Sounds like a lot of IF's need to play out just to see a GRADUAL housing recovery. Oh well. We gotta start somewhere.
Call me when GSE reform is done. Call me when we figure out how in the hell we're gonna deal with excessive excess inventory. Call me when common sense makes it way back into underwriting guidelines and lenders stop overlaying already overdone overlays. Call me when the CFPB is finally set up or when the GFE and TIL are successfully combined.
Ugh. Call me when regulators question how REALTORS GET PAID.
SORRY SORRY...
I am not attempting to start any poo flinging fests. We all need to come together as housing professionals here. My simple point is...there is a ton of uncertainty out there: Rationalizing the Spike in Mortgage Rates with No Rationality At All
http://www.mortgagenewsdaily.com/12302010_pending_home_sales.asp
