The implications of this Mortgage Reform is massive...
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- เผยแพร่เมื่อ 12 พ.ค. 2024
- Meredith Whitney shares on CNBC an observation which could essentially stimulate the asset rich, cash strapped homeowner. Video clipped from CNBC on 2024-05-13.
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Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
I agree that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them..
Home prices have doubled in the past 5 years and now the idea is to allow people to take out a second mortgage against the "Inflated" equity of that home and go into even more debt, spending money to continue to live beyond their means. What could possibly go wrong! Holy crap people are stupid!
So homeowners get more cash available to buy more things, maybe another property?!
How is this helping the housing market?
This means that those who are the first time homebuyer waiting for the housing price correction is never going to happen. This will put more money to the market and then drive the housing price even more. 🤬
Just be patient, the further they kick the can down the road the more likely they are to get steamrolled
I used to respect Whitney, no more. All she talked about is "unlock the value". Not a single word on debt service. Every single company that has their "value" unlocked, eventually gone bankrupt. These companies (often hospitals) after they got all that money (much goes to the money people as fee and executives as bonus), they are simply unable to service their debt. Think about it, if you borrow against your home, can you service that additional debt?? Keep in mind that your cost of maintaining still going up.
How is a strap cashed homeowner who is already burdened with debt able to afford this monthly repayment. The economy is not getting better and no new jobs just new debt. What a desperate last gasp effort to stimulate a failing economy.
It’s a scam
Speculate with homeowner's equity? What could possibly go wrong?
I see massive foreclosures in the future.. 😂
this sounds like fun, but must be highly inflationary
I think it is, but the basic is if you are lucky enough to own something, just make sure you use it as collateral until you own nothing but debt.
😂 You still have to qualify based on DTI and credit. Banks and credit unions ARE doing them. This is a complete nothing burger.
Sounds like the perfect opportunity to put all of the lower wealthiest among us into a big pickle when prices soften from a recession during which they lose their job. This will take time to play out, but is very scary.
This lady is nuts. If this is a good idea then the banks would already be doing this. So let’s just have the taxpayer take the risk.
This is a HORRIBLE IDEA! Stupidity and greed making a comeback.
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management
Agreed the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around $300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Colleen Rose Mccaffery” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
This is an absolutely terrible idea. Homes are not piggy banks. People are just going to go deeper and deeper into debt tsking equity out and.alao not pay off their homes. What a huge mistake. Defeat this bad policy
This help people who owns homes ..
so "unlock" the equity to spend in the economy? actually could lead to consumer spending short term, same as equity loans in 06-07
And then forgive it all right before the election. Watch
Bubble icious game changer.
Genius! Take out a loan against your house to pay for you, increasing property taxes, homeowners insurance, and repairs. Home affordability solved.
🤦🏻♂️
Why the hell are we helping people who choose not to sell their low interest rate house when those of us who sold weren’t given help in this awful market? I hope it doesn’t happen and it better not. Both consumer sides have made their decisions why are we favoring one over the other?
Gloom and doom days coming for my adult kids in US, politicians always always scree things up since the Roman days. Fed and Biden are totally working against each other, can’t wait til November to be here
Is it safe to say this infusion of money will be it easier for homeowners to tap their home equity?
How is this not headline news?!
Btw I love your channel and choice of uploads. Seems like you are a follower of the 18.6 year real estate cycle ;)
2008 2.0
😢
Potentially infla-tio-nary, yes then great
Bring it on.
I don’t understand a thing 😢
This is the dumbest idea!
Good Lord lady. Could you be any more confusing.
I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
Land romo, Damien bueno
Lmao more leverage. Just what the US needs 😂clown show