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Fred W » Comments » BX

  • Tops and Bottoms: Reflections and Predictions [View article]
    We are merely seeing the tip of the iceberg. The real pain is coming--it will be a slow bleed that we will all look back at and say "why didn't we see the forest for the trees?"
    75% of the small home builders are going to file chapter 11 if they haven't already. The big guys are suffering with massive write downs and their most talented people running for the door--no profits means no real income for the skillful few who actually make the money for the large tract builders...thus the talent is/will jump ship.
    Oversight is returning to the mortgage business and therefore the buyer pool will continue to shrink--all of the ignorant buyers that really "drove" prices will no longer be able to get a loan--no "traffic" means that the savvy buyers who can still qualify for a loan will wait to see how prices trend--plenty of nice rentals available.
    Jul 02 11:17 am |Rating: 0 0 |Link to Comment
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