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@New Renter,
It's a 2-year lease. I can't reveal his title and who he works for.
Now in 1999 the banks changed the way they do business: http://en.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act
It allowed banks do do the accounting of your mortgage differently. This is where banks were allowed to package, insure, and repackage mortgages. So banks no longer needed to care about the value of the property, they just had to make the loans.
Now in 1999 the banks changed the way they do business: http://en.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act
It allowed banks do do the accounting of your mortgage differently. This is where banks were allowed to package, insure, and repackage mortgages. So banks no longer needed to care about the value of the property, they just had to make the loans.
no different than decades past as GSE/FHA was packaging mortgages as debt securities.
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Why everyone went ape shit over bidding overpaying over leveraged.. on real estate / housing is an unanswered question....
Why everyone went ape shit over bidding overpaying over leveraged.. on real estate / housing is an unanswered question....
Because of the amounts that banks would lend.
After 2001 there was a big push to bolster the economy. Higher loan amounts made higher security amounts, made higher stock prices, made higher equity projections, and it was all good.
It's hard to fight that global economic all boats are rising feeling.
Because of the amounts that banks would lend.
why did the public feel the need to overpay/overborrow.. and if you have one home.. why not buy a second, why not buy a third.. we havent even touched the reasons to the issues... banks were not the problem here...the banks didnt create this crazy public infatuation ( or neurotic obsession ) with housing.. and look around.. its still there...its all about the public...!
It's hard to fight that global economic all boats are rising feeling.
no.. it means your fixing problems with the roof and pulling weeds on weekends...
not a great driver of economic growth...
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http://www.sfgate.com/realestate/article/Bay-Area-home-prices-projected-to-surge-4288392.php
#housing