Irvine prices trickling downward or upward?
- Thread starter jyeh74
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The massive amounts of money from QE that are sitting on banks balance sheets or driving stocks up should find it's way to the commonfolk and that would should drive prices of goods up. If you own hard assets this should be good in a rising price environment.
The counteracting issue here is if interest rates and affordability go up, naturally you would expect home prices to fall. What we saw Irvine homebuilders do was just control supply and keep home prices afloat. It will be interesting to see how many more people can buy homes at these lofty prices. It is so ridiculous. We are all indentured slaves living in boxes. :-\
The counteracting issue here is if interest rates and affordability go up, naturally you would expect home prices to fall. What we saw Irvine homebuilders do was just control supply and keep home prices afloat. It will be interesting to see how many more people can buy homes at these lofty prices. It is so ridiculous. We are all indentured slaves living in boxes. :-\
If unemployment lowers to the target level, the Fed will begin to Taper.
Also, the new lending standards will kick in next year.
http://www.marketwatch.com/story/tighter-mortgage-lending-rules-coming-2013-10-01
Starting in 2014, borrowers will be subject to greater scrutiny in terms of their debt to income ratio and how they document their income when applying for a loan, said Tom Wind, executive vice president of residential and commercial lending at national lender EverBank.
?Most lenders are going to say, ?If I?m going to take on additional risk, I need to be even more careful who I lend to,? ? Wind told the Wall Street Journal.
The changes will even impact high-net-worth borrowers, Guy Cecala, publisher of Inside Mortgage Finance, told the Journal.
The rules state that borrowers can?t have a debt-to-income ratio above 43 percent, which would make it harder for individuals such as entrepreneurs ? whose incomes vary widely year-over-year ? to qualify for a mortgage.
http://therealdeal.com/blog/2013/09/27/tighter-lending-standards-coming-in-january/
Also, the new lending standards will kick in next year.
http://www.marketwatch.com/story/tighter-mortgage-lending-rules-coming-2013-10-01
Starting in 2014, borrowers will be subject to greater scrutiny in terms of their debt to income ratio and how they document their income when applying for a loan, said Tom Wind, executive vice president of residential and commercial lending at national lender EverBank.
?Most lenders are going to say, ?If I?m going to take on additional risk, I need to be even more careful who I lend to,? ? Wind told the Wall Street Journal.
The changes will even impact high-net-worth borrowers, Guy Cecala, publisher of Inside Mortgage Finance, told the Journal.
The rules state that borrowers can?t have a debt-to-income ratio above 43 percent, which would make it harder for individuals such as entrepreneurs ? whose incomes vary widely year-over-year ? to qualify for a mortgage.
http://therealdeal.com/blog/2013/09/27/tighter-lending-standards-coming-in-january/