Smalltownbanker

First-Time Homebuyers Proliferate: What Are the Consequences?

Investor purchase activity today is value driven as opposed to speculation driven. Most investor purchase activity that I see today is buy and hold (rental) as opposed to buy and flip which put us where we are. I think your concerns are unfounded. The high percentage of first time buyers is encouraging and leads to a recovery in the move up market. When the first time buyer purchases it allows the seller to move up. Problem so far is that many with the opportunity to move up have become tenants. This has driven the investment property growth as well.

Wall Street Breakfast: Must-Know News

Isn't it encouraging to know that the bailout funds for GMAC / GM are being used to re-instate a program that hasn't worked to help the two companies over the last two years. I am soooo sure it will work now that we are all paying the tab for the buyers interest...

What Happened to Objectivity and Integrity?

Great article. There is certainly enough guilt to go around and as a sort of private regulatory entity CPA's certainly are entitled to their share however the lenders, the regulators, the underwriters, the appraisers, and in all cases the policy makers share a portion of the blame. The CEO's and other senior management personnel who led the banks and investment banks efforts to package and sell this trash to the investor should be held responsible and someone should be subject to prosecution for the perpetration of the largest fraud scheme in American History.

We are prosecuting appraisers on the front end of individual transactions for overstating a home's value. Why then are we not prosecuting the responsible individuals at the back end for grossly overstating the value of assets. Abberant behavior is best discouraged by meaningful punishment and in this case incarceration would be appropriate, not just for the Maddof's but possibly those who created the means by which this fraud was perpetrated.

Here Comes the Foreclosure Cavalry

In short.

The government did not exercise its regulatory authority when it should have so now they are intervening in every way the can and prolonging the mess which they allowed to go unchecked. I am not sure which is worse, the greed which created the problem or the ignorance and incompetence which allowed it and is now perpetuating it.

Time Not for a Bailout, But for Nationalization

Thank God you are no longer in the White House advising anyone!