t-bird

Jumbo Mortgage Activity Increasing

Crewman.
I was a bonus and commission guy until '04 when I hung it up and semi-retired. You stated:

"Well (no news flash here), we bonus and commission guys are gone for a while leaving only the relatively few high net worth folks to bid on all these multi-million dollar homes for sale. We bonus/commission guys will be back and God-willing will be making big incomes and buying expensive homes again - my guess is that this will take at least 3-6 years. So for all those with multi-million dollars homes - the big question will be whether all of you can hold onto your homes and continue to make the big mortgage payment until such time as us bonus guys get our big incomes back. If all of you can, then the pricing will hold up well; if many can't hold on, then prices will retreat to pre-2003 levels. Having been in the market and knowing how vulnerable so many owners are in that market, my guess is the later."

I know you must feel the bonus boys will be back in 3-6 years. More likely, 10-15 years or longer. Demand for whatever you are hawking will not be there in sufficient quantity for many, many years to justify the incomes. I do agree with the balance of your reply though...