Keep in mind that our current economic mess was caused by Wall St executives in tailored suits, looking out for their own best interests while screwing their clients. Bernie Madoff, while wearing a smile and well pressed trousers, swindled his clients of millions. Corrupt Mortgage Brokers in woolen slacks.. well, you know the story. And, you say, even car salesmen wear suits – well, of course they do….
'Respecting their clients', you say – I don't think so.

My advice to consumers- be very wary of men in fancy pants.

Maybe some day I'll feel comfortable wearing trousers, but, for now, I'm keeping my jeans on.

And so, on this day, I remind my well dressed colleague of Martin Luther King's dream that "One day, we will live in a nation where all men will be judged, not by the style of their pants, but by the content of their character."

Apparently we have a long way to go -:).
Brian S.

Thanks!

I believe not true once you consider the tax break you get on the mortgage interest. You're paying 55 cents on every dollar for that. Plus your time value of money is greatly improved by paying with cheaper dollars down the road as opposed to higher down payments in more valuable dollars today.

The reflation trade gave us nice Q3 #s, suppressing interest rates will do that. However what happens when rates on the upper end of the borrowing spectrum go up, as they are slated to do?

When anyone looking at a 1M+ dollar home in Hoboken starts facing a roll-back to $625K as the max limit to receive a beneficial interest rate (currently 5.25-5.375%), you're adding at least .5%….Unless you're willing to put down 35%+ on your property.

That's the real "taketh away" here… until we hear otherwise on whether the max high-cost confoming loan limit will be extended.

Are realtors really telling these people these prices are realistic? If so, they’re going to have some very angry clients in 6 months.