Monday, July 31, 2006

endlich mal klare worte

so deutlich wie selten formuliert


We're seeing a shakeout" in the mortgage industry, said Christopher Cruise, who trains mortgage loan officers. "People were just answering the phone during the refi boom and making six-figure [incomes]. Now, the phone's not ringing any more"

He likened the five-year housing boom to the technology stock bubble that burst and caused a shakeout in 2000. "It was like the greater fool theory -- there has got to be a fool out there who's willing to pay even more than me for this house. At some point, you run out of fools," he said.

gut gesprochen.



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