Comments on: Another Government Mortgage Entity Is Blowing Up

By: Betting On Tulips And Houses Is So Passé…How About On Death? - The Moderate Voice | CELEBRITY NEWS

Mon, 07 Sep 2009 00:38:45 +0000

[...] Note: FHA got in trouble when the private sector subprime blew up and there was immense political pressure for FHA to step [...]

By: redbus

redbus — Sat, 05 Sep 2009 07:14:57 +0000

Hewitt's forecast – written in 2002 – seems prescient. The loss in housing wealth is staggering. Perhaps the upside is that first time homebuyers can find a lot more affordable housing. Some markets have been incredibly inflated, like the Boston area, for example. I love that city, but could never afford to live there!

By: Mortgage Credit - Frost Bank president says customer service key to success - Fort Worth Business Press « Mortgage Credit Blog

Fri, 04 Sep 2009 23:05:55 +0000

[...] Another Government Mortgage Entity Is Blowing Up – The Moderate VoiceEveryone knows about the troubles at Fannie and Freddie, but the Federal Housing Administration has gotten a lot less attention even though it has had by far the most dramatic change in behavior since the implosion of the lending market. The Wall [...]

By: DLS

DLS — Fri, 04 Sep 2009 21:10:35 +0000

"How long before it all just folds, like a house of cards?"

Onset within twenty years. Partial collapse, in slow motion, is my bet.

http://www.twq.com/02spring/hewitt.pdf

By: tidbits

tidbits — Fri, 04 Sep 2009 20:49:34 +0000

I'm building a shelter (with FHA financing), buying a gun, hoarding gold and, oh, stocking up on Budweiser. Well, ok, I'm stocking up on Budweiser. The other three were just a joke.

By: redbus

redbus — Fri, 04 Sep 2009 20:19:47 +0000

How long before it all just folds, like a house of cards? Who actually thinks Social Security will still be there when they retire? Not I, said the fly.

By: DLS

DLS — Fri, 04 Sep 2009 19:52:39 +0000

For extra good cheer, consider unfunded future government liabilities of all kinds.

By: mikkel

mikkel — Fri, 04 Sep 2009 18:46:05 +0000

Don't even get me started on pensions. From what I've read public and private pensions alike assumed 6-8% growth for eternity and will be underfunded a cumulative $10 trillion+ over the next 15 years, not including social security of course. I try to just not think about that because as bad as all the other problems are, they still pale in comparison to that.

By: DLS

DLS — Fri, 04 Sep 2009 18:35:49 +0000

It's unrelated to housing, but to financial disaster: Some of the suspicion about why Washington acquired part ownership in GM and Chrysler, and has propped them up, in addition to all the other political reasons, is that it may have forestalled dumping the companies' pension plans on the PBGC, which has been approaching the need for a bailout for some time. (I was the guy who said that such a dumping and need for a bailout would possibly, and I say should, be accompanied by reductions of all payments to all beneficiaries of PBGC, revising the current maximum benefit schedules downward, to reduce the cost of the bailout.)

http://www.pbgc.gov/workers-retirees/auto-secto...