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Meritage Homes Corporation Message Board

  • jccalif909 jccalif909 Dec 16, 2008 1:30 PM Flag

    MTH and homebulders have no future

    Reasons:

    1) Foreclosures, and this will get worse as more and more ARMs reset. Over half of those who got loan workouts to avoid default are now in default again.

    2) All this money the Fed is printing to artificially prop up the economy will force interest rates up again.

    3) Lost jobs, and more of it to come. Unemployed people can't get mortgages. And who is going to commit to mortgage payments when they don't know if they still have a job next year?

    4) Many people are upside-down in home equity, and have no reason to keep paying the mortgage. So it just gets worse and worse.

    5) People who might buy are going to sit on the sidelines to see how low prices will go.

    6) Banks are still not lending.

    7) Destroyed wealth: The stock market crash has wiped out a lot of people's nest eggs.

    8) Mobile homes are the future for many people. They're affordable. A whole lot of baby boomers are being laid off and forced to retire, and will wind up in mobile homes. Not that mobile homes are not counted in the housing starts number, so that statistic is understated.

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36.39-1.15(-3.06%)Jul 29 4:02 PMEDT