NAR Whore to Denver Post-"subprime-mortgage crisis... is a thing of the past" - LMAO!!!

El Pinko

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Tue Jan-29-08 06:08 AM
Original message

NAR Whore to Denver Post-"subprime-mortgage crisis... is a thing of the past" - LMAO!!!

Edited on Tue Jan-29-08 06:09 AM by El Pinko

http://www.denverpost.com/business/ci_7991798

Realtors' expert sees good future for local housing
By Margaret Jackson
The Denver Post
Article Last Updated: 01/17/2008 03:54:01 AM MST

The top economist for the National Association of Realtors on Wednesday offered a positive prognosis for the Denver-area housing market.

...

"Denver is one of the markets to watch," Yun said. "Austin (Texas) already has seen a boom. Denver will be among the next markets to see a boom."

...

The subprime-mortgage crisis already is a thing of the past and should not affect the housing market going forward, Yun said.

...

"The subprime mess is a Wall Street mess," Yun said. "They made a huge gamble, and they lost. Subprime is a past event that's unrelated to homebuying."

Oh really? A thing of the past?

Here is the reset schedule for the coming years.

Subprime loan resets have yet to peak, and in a couple of years there will be a rash of option adjustable rate resets.

Housing is in for a LOOONG bumpy ride. Do not believe the paid spinners!

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El Pinko

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Tue Jan-29-08 08:50 AM
Response to Original message

1. kick.

Good morning!

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mikeytherat

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Tue Jan-29-08 08:54 AM
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2. "Subprime is a past event that's unrelated to homebuying."

So, lemme get this straight:

"The loans many people have been obtaining, loans which are for the purchase of a home and ONLY for the purchase of a home, are unrelated to homebuying."

And Yun gets big bucks to say, with a straight face, a falsehood one would not accept from a child.

mikey_the_rat

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gratuitous

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Tue Jan-29-08 08:58 AM
Response to Original message

3. If you have one, it's not a thing of the past

But for the scroungers and bottom feeders, it is indeed a thing of the past. People who didn't overextend themselves or get suckered by the lies of the mortgage brokers are similarly in good shape, as long as they follow the old rules: Save up enough money to afford a down payment between 20% and 30%, contract with a reputable lender for a fixed-rate 30-year mortgage, then start paying on it like it's a 15-year mortgage.

But for anyone in the path of the million pound shithammer, the sub-prime crisis will be with them for years to come.

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