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Armanino Foods of Dist. (ARMF) Message Board

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  • morokko65 morokko65 Apr 19, 2004 3:16 PM Flag

    Looks like Bill's taking some dinero

    I live near Concord (3o min south) and work for a bank selling foreclosure properties. The current market in Northern & Southern California will end very badly. I would not be suprised to see declines of 20-40%, maybe more in the central valley & Sacramento, sometime in the next 3-5 years.

    Way too many 100% loans that are adjustable rate and interest only. People are effectively leasing their $600K starter homes. Just like buying internet stocks on margin. Any big pop in short term rates (ie 150 basis points) will burst the bubble here.

 
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