When the question is “how will the current home lending meltdown affect the housing market in Seattle,” the answer depends on who you ask. For instance, if you ask #1 Seattle real estate cheerleader Elizabeth Rhodes, the answer is something to the effect of: “Seattle is special. Don’t worry your pretty little head about it.”…
Tag: lending
Let’s talk Financing: Gross Income outdated?
Bonus Picture Day (billboard next to Everett Events Center): Looks like the banking industry is aware of the debt picture. Gross Income outdated? For years the lending industry has utilized gross income as the yardstick by which consumers are qualified to obtain mortgages. Let’s say the median priced home in King County is $465,000. What…
Fleckenstein: Seattle "Just a Little Less Dark"
Wow, Aubrey Cohen over at the P-I is really slipping lately. First he prints the prediction that Seattle will see “slight year-over-year price declines this spring or summer,” and now he has penned an entire article about Bill Fleckenstein’s “not-so-rosy” outlook for local real estate. Like many economists and real estate professionals, hedge fund manager…
HouseMath 2.0 – Lending Woes – News
I’ve received a few e-mails over the past holiday season, some asking if I disappeared. Yes, I read this and many other Blogs every week. I’m not hibernating. So here’s what’s up: When people decide it’s time to buy in the market this is a cool tool to use. May I introduce the HouseMath 2.0…
Lending News: Washington State Cracks Down?
A pair of articles printed Saturday in the Seattle Times show some slight tightening of lending practices in our state. Nineteen states, including Washington, and the District of Columbia have moved quickly to warn state-regulated lenders about the hazards to consumers from nontraditional mortgages. Tens of thousands of state-licensed lenders and mortgage brokers are affected…