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jbelmont
California
3106 Posts |
 Posted - 07/04/2011 : 02:12:30 AM
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We all ask this question. When will the loan industry recover, and why? Or, maybe we say, "Who cares why". In any case, the loan industry depends on property values and on lending rules. If lending rules are too restrictive, then fewer loans can go through. If property values are too low, then few loans will be possible since equity will not be there. Reverse mortgages are a different story.
So, I'm thinking, economies go up and down in cycles. Our down cycle has to come to an end soon, right? I'm being realistic here rather than being wishful. When things are good and about to turn sour, people remain optimistic because they think the status quo will last forever, but if you take a closer look at history -- well, you can answer that for yourselves.
After the scandals of 2003-2006 were dealt with, and the reaction to 911 in terms of law changes happened, the country became very conservative after being too loose. Eventually this conservatism will gradually wear off over the next few decades. It always does! But, what about housing values. We need inflation for that.
I find it miraculous that America owes so much money to China and others, yet inflation remains really low. Eventually our government will run out of money and have to print a bit when it is not able to borrower from China who is experiencing a whole host of problems.
So, when will this inflation come to save our industry? And when will lending rules liberalize? In my lifetime? Before I retire?
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Question 34 - When will the industry recover?
