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Aaron's thoughts on the bailout
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Murmur
Mueller Community

Posts: 395
Joined on April 30th, 2008
Aaron's thoughts on the bailout
by Murmur on October 6th, 2008

Quote:
With the correction in the credit markets what are your thoughts on home value forecasts for Mueller? Seeing as we are closing in 3 weeks it has me more than a bit nervous.


Us too. We are in a good cash position after the sale of our Dallas house, and part of me is loath to give that up. That said, interest rates are quite good these days and Mueller in no way seems overpriced compared to the larger Austin market.

To me, the only question is whether to continue renting while we ride out this financial panic. Buying in Mueller versus buying elsewhere in Austin seems like an unimportant issue (not that you were raising it).

Wall Street is a mess and part of that will inevitably trickle down into the Austin housing market. Unfortunately, none of us knows what will happen a week, a month, or a year from now.

In the final analysis, we love Mueller and we love the house we're building. The price seems fair and the mortgage is good. The odds are very good that everything will fine in the long run (and if it isn't the nation has bigger problems). So we are forging ahead.
 
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holla
Mueller Community

Posts: 34
Joined on September 3rd, 2008
Aaron's thoughts on the bailout
by holla on October 6th, 2008

I agree with Ezra (SleeperService) in that it is a combination of many factors- not just main street Amer.

We had a real estate bubble that wall street migrated to when the tech bubble burst.

There was deregulation of the industry as a whole.

CMO gave birth to CMOs that had no transparency amongst the collateralized debt they were selling.

Lenders and brokers just wanted to see loans closed/ money in their pockets from incentive compensation and lent to people who could never pay back the loans or were extremely high risk.

The general public loves their debt and has a negative savings percentage.

A good example of the insanity is the "pick a payment" program offered by an institution that shall remain nameless (and who will soon have their name changed for them). Seriously, PICK A PAYMENT??? The borrower could skip payments or just pay the interest or both, etc for an extended period of time... What about that is prudent? In addition, these negative amortization loans were pushed very hard at this bank and huge amounts of people were put in this product. Now they can't get 2nd liens on their neg. am. (which they shouldn't anyhow) AND they can't refi, b/c most lenders have raised credit standards.

It was a series of collective behaviors that led to this meltdown.


 
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Noelfil
Mueller Community

Posts: 95
Joined on June 25th, 2008
Aaron's thoughts on the bailout
by Noelfil on October 8th, 2008

 
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aaron holds


Posts: 1
Joined on July 18th, 2016
Aaron's thoughts on the bailout
by aaron holds on July 18th, 2016

The notion of government bailing out private industry by good Bail Bond is not new. In the 1970s, when Chrysler Corporation was about to go belly up, our government put up the money to get them over the hump, and, under the highly professional leadership of Lee Iacocca, they got back on their feet.And branches of government bailing out other branches of government is hardly a new concept either
 
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habla espanola


Posts: 1
Joined on November 27th, 2016
Aaron's thoughts on the bailout
by habla espanola on November 28th, 2016

The notion of government bailing out private industry by good Bail Bond is not new. In the 1970s, when Chrysler Corporation was about to go belly up, our government put up the money to get them over the hump, and, under the highly professional leadership of Lee Iacocca, they got back on their feet.And branches of government bailing out other branches of government is hardly a new concept either
 
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jimmy finch


Posts: 1
Joined on July 28th, 2017
Aaron's thoughts on the bailout
by jimmy finch on July 28th, 2017

Nothing here has been mentioned about bail bonds then why you have used bail out as a title. Others have also replied to it i am not really getting the point over here..
 
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