From CNBC:
Homebuyers put less and less skin in the game, adding to the market’s overall risk
It feels like deja vu in mortgage land all over again.
Homebuyers are increasingly opting to put less money down when purchasing their homes, increasing their risk should the housing market, and specifically home prices, falter yet again. When home prices crashed in the last decade, millions of borrowers fell underwater on their home loans, prompting a foreclosure crisis of epic proportions. It all begs the question, could it happen again?
In the past 12 months, 1.5 million borrowers bought their homes with down payments of less than 10 percent, meaning they financed more than 90 percent. That marks a seven-year high, according to Black Knight Financial Services.
“The increase is primarily a function of the overall growth in purchase lending, but, after nearly four consecutive years of declines, low down payment loans have ticked upward in market share over the past 18 months as well,” said Ben Graboske, executive vice president at Black Knight Data & Analytics, in a recent note. “In fact, they now account for nearly 40 percent of all purchase lending.”
On the bright side, the bulk of the growth has not been at the lowest down payment level, that is, 3 percent or less. It is more in the 5 to 9 percent down payment arena. In addition, the low down payment loans of today are nothing like the ones the precipitated the last housing crash.
At that time half of all low down payment loans being made involved second loans, commonly known as “piggyback loans,” but today’s mortgages are largely single, first liens, Graboske noted.
The loans of the past were also far riskier – mostly adjustable-rate mortgages, which, according to the Black Knight report, are virtually nonexistent among low down payment mortgages today. Instead, most are fixed rate. Credit scores of borrowers taking out these loans today are also about 50 points higher than those between 2004 and 2007.
The growth in this sector is likely due to new programs offered by Fannie Mae and Freddie Mac that are actually gaining market share from the FHA, which was the only low down payment game in town during the recession. The government-sponsored enterprises brought back 3 percent down payment loans in late 2014, but as with the FHA, they also require borrowers pay for mortgage insurance.
Foist
SPLC on Kessler…organizer of the rally this weekend…seems awfully fishy….
https://www.splcenter.org/fighting-hate/extremist-files/individual/jason-kessler
Rumors abound on white nationalist forums that Kessler’s ideological pedigree before 2016 was less than pure and seem to point to involvement in the Occupy movement and past support for President Obama.
At one recent speech in favor of Charlottesville’s status as a sanctuary city, Kessler live-streamed himself as an attendee questioned him and apologized for an undisclosed spat during Kessler’s apparent involvement with Occupy. Kessler appeared visibly perturbed by the woman’s presence and reminders of their past association.
Dude was an Obama supporter….and attended Occupy rallies in the past?
Now suddenly he’s organizing these hate rallies?
Juice, they should include the German book burnings of the 30s as well with the ideologues destroying history memes from yesterday.
The Left just doesn’t get it. These events inflame and embolden the Right further. Every news clip, every Colbert monologue. People getting fired because they attended Charleston. All making the country redder by the day…
It’s amazing law enforcement stood down in Durham and let a 100 year old statue be torn down by an angry mob. Yet another new rallying cry.
Seems the Left has not learned what parents inform their young children…the class cut up exists for attention, and ignoring him undercuts him the most.
Do you think there would have been any headlines whatsoever had the 1,000 extremists that descended on Charleston were met with a collective yawn?
Never within my lifetime have hate groups behaved as though the POTUS supported their agenda. Now these hate groups identify with Donald Trump. Why didn’t Trump kill this identification from it’s inception? Trump could have made clear and timely statements during his campaign saying he did not agree with or identify with hate groups. Trump could have spoken out against hate groups and individual haters who held signs supporting hateful positions or engaged in hateful chants at his campaign rallies.
For those of you who ask what is different about ignoring hate groups now as opposed to the past, the difference is the behavior of the POTUS.
From Bob Dole’s speech accepting the Republican presidential nomination in 1996…
“But if there’s anyone who has mistakenly attached themselves to our party in the belief that we are not open to citizens of every race and religion, then let me remind you, tonight this hall belongs to the party of Lincoln,” he said. “And the exits, which are clearly marked, are for you to walk out of as I stand this ground without compromise.”
This is an example of the kind of clear statement Trump should have made
re: “The Left just doesn’t get it”
There are now felony rioting charges for 214 people who rioted during the inauguration. A Grand Jury may very well send down indictments in Charlottesville. There is more than enough video/photographic evidence that the FBI is now busy collecting. These kids need to learn to protest peacefully or face jail time, violence is not the answer.
http://www.unicornriot.ninja/wp-content/uploads/2017/03/j20felonyindictment.pdf
https://twitter.com/SouleLeah/status/897245924254265344
@SouleLeah
#Antifa flags replaces the Hennepin county one at #Charlottesville solitary action
I don’t get the “he didn’t condemn fast enough” thing. I’ve heard him in interviews actually interrupt an interviewer asking the question to condemn. He said he wanted to condemn it as fast as possible because people say that if he doesn’t condemn really fast…the criticize him for that. I think they’re going to criticize him no matter what he does.
30 year realtor says:
August 15, 2017 at 9:23 am
Never within my lifetime have hate groups behaved as though the POTUS supported their agenda. Now these hate groups identify with Donald Trump. Why didn’t Trump kill this identification from it’s inception? Trump could have made clear and timely statements during his campaign saying he did not agree with or identify with hate groups. Trump could have spoken out against hate groups and individual haters who held signs supporting hateful positions or engaged in hateful chants at his campaign rallies.
For those of you who ask what is different about ignoring hate groups now as opposed to the past, the difference is the behavior of the POTUS.
Yeah that kid that looked like a Nazi St Nick was pushing 60. This stuff is theater, played out by the angry.
Cause Trump sold hisself under false pretenses and people are dead set on running his useless very very sorry ass out of Town.
I think it’s more the political class in Washington aghast that someone from the business world and outside their little club can become president. This could even mean somebody like Bezos or Zuckerberg someday if Trump’s presidency is successful.
ex-Jersey says:
August 15, 2017 at 9:57 am
Cause Trump sold hisself under false pretenses and people are dead set on running his useless very very sorry ass out of Town.
Depends on how one defines ‘hate groups’. Ironically, kind of like beauty, it’s in the eye of the beholder.
30, see Jeremiah Wright for how to be Presidential in the these matters I guess, lol. The Left’s supporters have had a pass on bad, angry behavior for decades.
Juice, the ‘counter demonstrators’ came armed and primed. Look at the park skirmishes. Look at the car sequence. Most major networks have edited it this morning but find video that shows the zoomed in view of the point of impact from behind and the car reversing. Upon impact a group of ‘protestors’ are on the rear deck breaking through the rear windshield with bats. At least three of them, they got a ride out as the vehicle reverses, looks like one gets crushed as he rolls off between the retreating car and a parked vehicle.
30, look at the Durham statue video again. Is that hate? Would pulling down a statue of MLK qualify? Think the police would stand down and watch that one?
So, what’s next after the transients destroy all history pertaining to the South?
D-FENS- Not a matter of not fast enough now. Take the David Duke situation during the campaign for example. Took days of non-stop pressure for him to speak out against Duke’s endorsement. That set the tone. Then repeated missed opportunities to take exception with haters at his rallies. Another badly missed opportunity on Saturday. Now it is too late for anyone to see Trump as anything less than sympathetic to hate groups. Add to this the story about the possible Arpaio pardon being reported.
Sorry I just don’t believe it. These are the same people that told us Romney was a racist. Trump is on video over a decade ago criticizing Duke.
https://www.youtube.com/watch?v=maowkilRvZE
30 year realtor says:
August 15, 2017 at 10:19 am
D-FENS- Not a matter of not fast enough now. Take the David Duke situation during the campaign for example. Took days of non-stop pressure for him to speak out against Duke’s endorsement. That set the tone. Then repeated missed opportunities to take exception with haters at his rallies. Another badly missed opportunity on Saturday. Now it is too late for anyone to see Trump as anything less than sympathetic to hate groups. Add to this the story about the possible Arpaio pardon being reported.
D-FENS, Then you understand why his response to questions regarding disavowing Duke’s endorsement were so disingenuous. He pretended to be unaware of who Duke was and what he stood for when questioned about Duke’s support. Yet clearly Trump knew who Duke is and what he believes.
Fast Eddie, Monuments and memorials to the Confederacy belong in museums and not on display in Parks or the town square. It doesn’t take deep thinking to understand why these monuments are offensive. Please don’t try to tell me that you cannot understand why people find these monuments offensive.
I do not believe angry crowds should be taking down these monuments. It is important that the local governing bodies take them down and provide a clear explanation for why it is being done.
Am I wrong for having the feeling that your use of the term “transients” for the people who took down the statue in North Carolina yesterday is inappropriate? How do you know they are transients?
Another wasted day on blog. Lessons to be realized, you won’t change the mind of Gary, Nom, Juice, Pat, Defens or Left-wing..nor will you change Fab, Grab or 30yr. I think Stu can be bought though. Pumps can be distracted either way by a shiny new article. 😁
Losers don’t get statues, Nazis, Confederates, Communists, etc.
I agree with 30yr – a monument in a public place has nothing to do with history.
I think most people from the northeast agree with you grim and 30 with regard to confederate monuments. I don’t much care what happens to them or the confederate flag either. I also hate racists and the KKK. It would seem to me that this is assumed and is common sense.
Leftwing, Please explain how you equate a statue honoring the Confederacy with a statue of MLK beyond them both being statues?
That said…As much as I support people who march against hate and march in protest…I don’t much care for these antifa communists either.
Nice….very Glengary Glen Ross.
Millions of people voted for Donald Trump. People who don’t agree with the KKK guys in Charlottesville. Equating a guy wearing a MAGA had with a KKK white supremacist is absurd. I feel the news coverage of the issue is headed there.
The left or progressives are not merely trying to stem the tide of indifference, they want to defeat everything and anything that doesn’t adhere to the stain of their world. One faction needs to pay for their resentment and failures; an underhanded message bleated endlessly by the divider in chief and fueled by a willing media.
I think you can criticize Antifa and not side with the KKK Nazi white nationalists either. They’re two nutty fringe groups that shouldn’t be allowed to beat the stuffing out of each other on public streets. The cops should have been there blasting everyone with fire hoses blasting everyone the second the first punch was thrown.
“Losers don’t get statues, Nazis, Confederates, Communists, etc.”
No, they get sovereign territories and government sanctioned gaming monopolies lol.
30, the point is that one needs to “equate”, which is a matter of opinion. Make no mistake, I don’t support the numbnuts in Charlotte (either side), but as someone quoted above I’ll fight for their right to say it.
And George Carlin is now a humanitarian and scholar? LMAO!!
“transients”
A lot of rabble-rousers are phony paid protesters. Again, this is nothing new and not exclusive to any group.
leftwing, Joyce asked yesterday if I thought the Nazis had a right to peaceful assembly. I gave a one word answer, yes. This is about more than the right to have unpopular opinions that are based in hate. This is about the behavior of the POTUS currently and during his campaign that leaves room for interpretation on what he stands for regarding hate groups.
Some of you have explained your positions regarding hate groups more clearly in this thread. I am assuming that you don’t want anyone to be confused about you and how you feel because hate organized or by an individual is ugly and wrong.
Why are the POTUS’s feelings regarding hate unclear and open to debate at this late juncture? It would have been so simple for him to nip this in the bud during his campaign. Not doing so was likely a conscious decision.
@tonyschwartz
Understand this: Trump will destroy anything & anyone to protect against feeling weak & out of control. It’s not a choice but a compulsion.
@CNBCnow
BREAKING:
Alliance For American Manufacturing President resigns from Trump manufacturing council
Lefty p.ussies are angry because the Russian mantra is not moving along as expected.
It seems clear to me.
D’Souza explains it better than me
http://www.dineshdsouza.com/news/dsouza-answers-is-trump-racist/
D’Souza casts Trump as being misunderstood. He explains that Trump as a politician wanted the votes of these haters. He attempts to equate this position with politicians of the past like Lincoln and FDR. Trouble is that this country has moved a million miles ahead of where we were when Lincoln and FDR were in office regarding race. Those unpalatable choices by heroes of the past don’t play in today’s world. In essence D’Souza is saying the same thing as I did, it was a conscious choice!
I disagree. That’s not what D’Souza said in his piece. Nowhere does it say he “wanted” their votes.
“D’Souza casts Trump as being misunderstood. He explains that Trump as a politician wanted the votes of these haters”
“Why are the POTUS’s feelings regarding hate unclear and open to debate at this late juncture?”
It’s not. It is just not what the Left wants to hear. The Left wants to hear an evisceration of the far right, and silence on their far left’s views. Trump comes out with something clear – admonishing *all sides* – and the Left has a hissy fit because it doesn’t single out the right and it also encompasses the Left.
My favorite latest Left concept is the “dog whistle”. When Trump says something at a grammar school level of comprehension the Left inserts its own words into his mouth claiming that the straightforward quote contained something nefarious only audible to his followers – a dog whistle. Think about that – they are making something up over his direct quote and then getting upset at him for the alternative concept they made up. Really?
And meanwhile…..from the group whose flag was celebrated being flown over a courthouse today…..google national antifa front. Find the flyer they were handing out in Charlotte (can’t get the link through the filters). Wonderful piece, promoting the ‘purge’ of the children (too late to save them) and elimination of their parents and their ‘heeb overlords’. But yeah, Trump was unbalanced in criticizing all sides….
I cringe to think 10 years from now when Eddie makes his first flight into Obama-OHare airport.
I cringe to think 10 years from now when Eddie makes his first flight into Obama-OHare airport.
I’ll need a flak jacket in order to survive the cross fire.
@tim_cook
We’ve seen the terror of white supremacy & racist violence before.
It’s a moral issue – an affront to America.
We must all stand against it
12:14. Countdown to Manafort’s rollover – FBI loves Trump.
Cook is typical myopic liberal equating terror with ‘white supremacy’.
The worst of the Left is equal to the worst of the Right. Ethnicity is irrelevant, as is other social identifiers like religion. Historical examples abound.
I will match anyone on this board in an historical atrocity game. From low level street thug through the government sanctioned extermination of millions. You take one race, ethnicity, or religion and I will raise you another. Chip for chip, ante for ante.
The long list of terrors even relatively recent in history, say 1939 through 79 (Pol Pot), did not happen because of some sociopathic tyrants and their minions. Sociopaths have existed since society, and they are easily identified and dismissed. Terrors happen when those in positions of influence allow rule of law to be marginalized and individual rights subrogated. In other words, Tim Cook’s views are a bigger threat to my freedom than a hooded Klansman or Antifa. The latter is powerless without co-opting the former.
We are definitely traveling down a slippery slope, just not the one most people think.
Who knew? There’s a statue of Vladimir Lenin in Seattle. I guess he’s a “winner”.
https://en.wikipedia.org/wiki/Statue_of_Lenin,_Seattle
It will be interesting in the Charlottesville trial to see how the defense plays it. Calling this terrorism is a joke. It was a street fight that escalated. Moral of that story is don’t bring a knife to a gun fight.
Also Sessions needs to straighten out the local PDs. Enough looking the other way on the anarchists.
Not surprised about Seattle. Then again, Lenin only had deaths attributed to him in the single millions. Wake me when Stalin goes up and we break eight figures.
What do you think will happen if you pull that statue down?
We haven’t forgotten about the Dallas sniper attacks already have we?
The mob is fickle, brother. He’ll be forgotten in a month.
@sean_spicier
North Korea dropped plans to attack Guam, which is weird because the smart people said the President’s words would escalate the situation
I guess we all forgot which rally Omar Mateen’s dad attended too.
@nytimes
Racial resentment is the strongest predictor of whether voters flipped from Obama to Trump, according to a survey
Dems choose to practice identity politics. Results have been abysmal.
To Grab them,
All I see from you is quotes attributed to other individuals.
Do you have you own mind?
you=your
Puzzy n’ cigars has no mind of his own, he’s just a brain-washed empty vessel.
@KeithOlbermann
NEW VIDEO: Trump just equated Robert E. Lee to George Washington. His moral authority to lead this country has ended
Keith Olbermann…. LMAO!!
@jamieson
BREAKING:
@AFLCIO resigning from the manufacturing council
Trump. Sounds. Nuts.
Trump doesn’t speak politician.
NAFTA Trade negotiations start tomorrow. The timing of these things amuses me.
AFLCIO president Richard Trumka just met wit Trump on the 13th. Said he had a great meeting. Now deletes the tweet and bails..,just sayin’
Big numbers out of Nassau County. Up 9.8% in July. Any NJ counties seeing this type of rise in home prices?
http://www.newsday.com/beta/business/home-prices-jump-9-8-in-nassau-rise-5-8-in-suffolk-1.14044658
My theory on Nassau – connectivity to Manhattan without NJ Transit long term problems.
“So in theory, you are correct, however, as usual, your prevarication must be pointed out. ”
Eddie Ray, if I am correct then I can be accused of prevaricating. I know logic and the law don’t exactly go together, but I didn’t think it was that bad.
But to make my point I give you this. http://www.responsibleownership.org/
Hudson!!!!!!!
“What I commented in response to has been deleted”
Wow, Grim, hit the mod button. I wonder what moral outrage managed to hit that lofty level.
Lets tackle the low hanging fruit, that press conference was a disaster. But not unexpected. He was dragged to a place he did not want to go to be made to say things he does not believe.
http://www.huffingtonpost.com/entry/trump-news-conference-charlottesville_us_59935814e4b04b19336105d5
My personal favorite “Before I make a statement, I need the facts. I don’t want to rush into a statement”
Yes Donnie is a racist. He may have Jewish grandkids, they can join his accounting staff.
https://theintercept.com/2017/08/15/donald-trump-has-been-a-racist-all-his-life-and-he-isnt-going-to-change-after-charlottesville/
So now to the comments in here. How dare you try and use moral equivalence in this argument. Yes Alt-right were met with violent resistance, but that was not the majority of the opposition to them. The majority of them, (even the BLM ) were not armed.
But the Unite the right were armed to meet it and tonight Terry McAulifee is saying there were weapons caches around the city. In the aftermath what is coming out is the the Unite the Right were very organised and very disciplined. As to the guy in the car, that story will come out. I will say he is very lucky he got to reverse out of there. If that crowd had got him out of the car, he would have met a very different end.
Leaving that aside, it does not excuse the fact that Unite the Right were walking Nazi flags down a street in America, and POTUS has just come out and said there were some “fine people” in that demonstration and people in here are questioning the Lefts response? Are you fffing kidding me? Call this for what it is. If you can’t you are a sorry excuse for an American.
I’m borrowing this line from a commentator “Donald Trump has made his bed, but he can’t sleep in it because some very fine people needed the white sheets.”
I will leave you with
“A member of the alt-left, without a permit, charging at someone who was just trying to preserve his culture.” https://twitter.com/HeerJeet/status/897578202826031104
I saw Christie in Detroit airport tonight. He was carrying his own bag. What we he doing in Michigan?
Dinesh D’Souza was thrown up here, let me just say he is a D1ck!
He had a great tweet on Cville this weekend. “CELEBRATE WHO YOU ARE UNLESS YOU’RE WHITE: White nationalists are not Democrats b/c there’s no room for them at the multicultural picnic”
Here is my problem with that.
He has also said “If one begins with the multicultural premise that all cultures are equal, then the world as it is makes very little sense,[…] Some cultures have completely outperformed others in providing the things that all people seek—health, food, housing, security, and the amenities of life.”
So if you come to the multicultural picnic, with a view that you are not an equal, but superior, why are you surprised when you are rejected?
Godwins Law.
https://gizmodo.com/godwin-of-godwins-law-by-all-means-compare-these-shi-1797807646
9:44 pm – That is an educated guess. July stats for NJ counties aren’t out yet. When they are published, I will share them here. I think Hudson will lead the state again but fall short of Nassau. Sadly, this blog has degenerated and fewer people want to discuss NJ real estate anymore, but I will continue to try to keep the blog on track.
I didn’t mod anything