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Federal National Mortgage Association Message Board

  • sheister_fed sheister_fed Sep 29, 2005 12:37 PM Flag

    FNM: Bubble to Burst

    "Prices for luxury homes in hot housing markets will likely decline over the next few years, the head of home mortgage buyer Freddie Mac said Thursday"

    My question is what is considered a luzury home ? 3 bedrooms/2 baths rolflmao

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    • ckza@sbcglobal.net ckza Sep 29, 2005 12:49 PM Flag

      So let me see if I understand this correctly.

      The CEO of another dubious quais govt. agency with acctg. scandals from head to toe is "predicting" that there is only a "bubble" in higher priced homes.

      To summarize, the "potentially" more affluent at the TOP, will see their "wealth effect" diminished while their "potentially" poorer brethren at the bottom of this Ponzi Trail will go left unnoticed.

      Somehow this does NOT compute.

      I just wonder how China, India, and other foreigners will feel about DEFAULT rates for their UNDERLYING ownership stakes in these MORTGAGES?

      Shame on you banking HUMPSTERS or did I mean HUCKSTERS!

    • likely- it's already happening
      name one market w bidding wars
      remember them ?

 
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