Word: nowness
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Of greater concern to many analysts is the pending expiration of the Federal Reserve program, which involved purchasing up to $1.25 trillion in mortgage securities backed by Fannie Mae and Freddie Mac. It could open the door to higher interest rates, although the Fed last week hinted that it would...
"Right now, the one thing that really stands out to the advantage of the industry is affordability, and if interest rates were to move up sharply from here, that would meaningfully cut into affordability," says Bob Curran, a managing director at Fitch Ratings.
Stephen Kim, a senior real estate analyst at Alpine Woods Capital Investors LLC, which holds shares in homebuilding companies, says he thinks there will be "only modest" declines in the months following the programs' expiration unless the overall economy, or employment, also tanks. (See how Americans are spending now.)
Rick Sharga, vice president of marketing for RealtyTrac, is cautiously optimistic that the program will help slow foreclosures. "One of the things that's prevented more success on these [loan-modification] programs is, we've had a principal-balance problem, and this program, on the face, would seem to resolve...
A similar report in 2002 estimated that only 10% of the gorillas' habitat would remain by 2032. But the authors say even that dire prediction was optimistic. At the time, researchers did not predict the rise in Chinese demand for timber or the extent of mining in Congo. "Ten years...