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Mortgages are a manufactured product (2022)

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121–127 of 127 posts

Re: Mortgages are a manufactured product (2022)

#121
post #93

Earlier quoted context omitted.

Adding leverage to the housing market probably isn't a net good thing. Especially when you have a mismatch between demand for desirable housing and the available supply. It is interesting that when you look at the US, some of our most expensive markets (housing, healthcare, education) have tight regulations on supply and federal policy response focused on subsidizing buyers (rather than addressing the structural supp…

> Adding leverage to the housing market probably isn't a net good thing. The leverage part isn't necessarily a good thing as it increases house prices to some extent (how much, I don't know). But what would be an alternative? Even if buying a house all-cash was the only choice, a house would still be very expensive because it does take a lot of real materials and labor. If we complain today that raising a 20% down pa…

What answers do we get if "market" isn't part of the platform?

If we start with the question "how do we affordably house the most people possible", I'd think we end up with something like "the state owns the housing stock and leases it out on a long-term basis with very tight (and obviously political-third-rail) restrictions on pricing and allocation".

Re: Mortgages are a manufactured product (2022)

#122

Earlier quoted context omitted.

He founded the risk market investment mechanism, and went to jail for what he tried next. Perhaps you personally need a finer granularity of assigned responsibility, but the product relationship is very clear for most observers. Best of luck =)

> He founded the risk market investment mechanism “Risk market investment mechanism” is gibberish. Milken did not ”[popularize] mortgage securitization”. Ranieri was at best his contemporary; he was not inspired by Milken. Your own article is a good source on this. > read the article I recommend Fabozzi’s Fixed Income as an introductory text if you’re drawing the (incorrect) conclusions that you are from that FT arti…

Whoops, my mistake... been a few years since reviewing the story... its hard to keep all their sins in order... given the volume.

I feel terrible... really I do... Have a wonderful Monday. =3

https://www.usdebtclock.org/

Re: Mortgages are a manufactured product (2022)

#123

Earlier quoted context omitted.

Are you denying the fact that a “non conforming loan” by definition means it isn’t eligible for Freddie and Fannie backing? I’ve had 5 first mortgages in my lifetime and only one was “conforming”. My latest one was a unit in a condotel where I live the majority of the year. No government institution would ever back and no income verification loan on a mixed use commercial/personal secondary home.

I'm reporting observed reality homeboy. I watched thousands of loans a week get pumped through the system with everything from income verification fields left blank to literally fraudulent (as in the loan officer got tech support on the phone to help them generate random numbers) information get pushed through with zero pushback. A point for you to consider: "non conforming loan" is only a meaningful phrase when the…

Yes. But how many of those were “conforming loans” that were officially backed by Fannie Mae

Re: Mortgages are a manufactured product (2022)

#124

Earlier quoted context omitted.

All of those articles are about economic performance before 2019, which was bad, but now we live in 2024, which is a different year where the economy is good. In fact it's as good as it's been in decades in the US. (Not so good in other countries partly because we caused inflation in their currencies.) https://www.redfin.com/news/gen-z-millennial-homeownership-r... https://www.theatlantic.com/magazine/archive/2023/05…

In 25 years, maybe current trends will change things... maybe... But don't cite people playing games with market valuations, and having vested interest in naive buyers... It makes you sound less credible and silly. https://www.youtube.com/watch?v=aNSHZG9blQQ

The homeownership and employment rates aren't "playing games with market valuations", and they're both good right now. Better than ever in fact.

Re: Mortgages are a manufactured product (2022)

#125
post #80
post #22

I know this post is about money, but I want to talk about electronic flow meters than money so I will. The description of "Japanese company making the best electronic flow meters" strongly suggests it is Keyence. They are the best indeed. Keyence is the 3rd largest Japanese company by market capitalization, next to Toyota and Japan's largest bank (Mitsubishi). Larger than Sony, larger than Nintendo, larger than Honda…

Very tangential, but as a worker in Japan I find it depressing how Keyence's recruiting material proudly shows a software engineer's typical day that starts at 8:30AM and ends around 8:00PM. No wonder it's so hard to raise kids. https://www.keyence.co.jp/jobs/software-engineer/

Keyence is known for one of the most very hard-work culture company.

Re: Mortgages are a manufactured product (2022)

#126

Earlier quoted context omitted.

In 25 years, maybe current trends will change things... maybe... But don't cite people playing games with market valuations, and having vested interest in naive buyers... It makes you sound less credible and silly. https://www.youtube.com/watch?v=aNSHZG9blQQ

The homeownership and employment rates aren't "playing games with market valuations", and they're both good right now. Better than ever in fact.

Is your mortgage, insurance, and taxes taking over 32% of your income? You will always be poor and never understand why.

Everyone forgets that exact same rhetoric was popularized in most of 2007...

Indeed, wall-street index fund success is often disconnected from the general populations well-being =3

https://www.youtube.com/watch?v=qqUMbxHLPvk

Re: Mortgages are a manufactured product (2022)

#127

Earlier quoted context omitted.

I'm reporting observed reality homeboy. I watched thousands of loans a week get pumped through the system with everything from income verification fields left blank to literally fraudulent (as in the loan officer got tech support on the phone to help them generate random numbers) information get pushed through with zero pushback. A point for you to consider: "non conforming loan" is only a meaningful phrase when the…

Yes. But how many of those were “conforming loans” that were officially backed by Fannie Mae

After Sept. 1, Freddie will no longer invest in subprime mortgages that have a "high likelihood" of payment shock and foreclosure, the company announced on Tuesday.

https://www.reuters.com/article/idUSN27376399/

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