The housing crisis will peak in 2011

4 Responses to “The housing crisis will peak in 2011”

1. Grant Hammond writes
   October 29th, 2009 12:32 pm

   This graph assumes a couple of things: 1) consumers will not or cannot refinance their adjustable mortgages into fixed interest mortgages. 2) Banks will not act on converting these adjustable mortgages into fixed interest mortgages. 3) Consumers will not be able to pay their new mortgage rates should their mortgage rates adjust up. 4) The Gov’t won’t find a way to bail out the industry once again should all 3 previous items occur.

   I am not saying that our system is perfect, but I believe that the banking industry has learned a small lesson over the past 3 years…especially the small banks. They are all working at a feverish pace right now to convert all of their high risk adjustable loan portfolios to fixed interest loans. I’m just not that scared at the moment, but maybe I should be.

2. pandabear writes
   October 29th, 2009 2:35 pm

   Played itself out !?!

   What fairy tales have you been reading ?

   Approximately 1/3 of the sub primes have reset.

   We still have 2/3’s to go.

   Also, big “Ben” at the FED hiked the rates
   every 6 weeks for almost 3 years, just like
   he was instructed to do, which caused everyone’s
   rate to go up about 4 + points.

   Can anyone say “9 to 10 % mortgage is too much for me ” ?

3. SouthernIndie writes
   October 29th, 2009 4:33 pm

   It’s tricky times out there folks. Any numbers quoted
   out of Washington have always been a little tricky.
   Today’s while sounding pretty good, may be adjusted in
   a month or quarter and restated that don’t sound near
   as well. Not only the “buyer” beware, “let’s all
   beware”!

4. courier37027 writes
   October 29th, 2009 4:53 pm

   But, but, but Facebook told me that Obama said to refinance my home.