November 28, 2007
Posted by MrBuzzy
Everything I hear on the radio points out that California is being impacted more than any other state by the national home foreclosure crisis. Seeing how I'm in real estate and live in and work in CA that's not exactly great news.
When will the "crisis" die down and the markets normalize in your opinion?
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November 29, 2007
Posted by SlashLane
( 0 ratings )
Things are just getting started. I'm guessing that foreclosures will peak in the middle of 2008 around the time when the next batch of mortgage interest rate resets is scheduled to happen.
Once these extremely low teaser rates reset, the economy will then take another hard hit. This time, all we have to look forward to is that the markets won't be caught off guard. I like to think that this next hit is already factored into the markets.
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