Article

2020-03-19 Economy

How coronavirus is already threatening the housing market

[Market Watch] As the coronavirus pandemic threatens financial markets and sends the U.S. economy into a potential recession, those of us who lead mortgage firms must take swift action to prepare for the worst. The last time the financial markets suffered such a precipitous drop was during the 2008 Great Financial Crisis.

I was CEO of CitiMortgage during and after that crisis and saw firsthand how the housing market became paralyzed. I’m now CEO of the nation’s third-largest housing specialty lender (HSL), and I’m applying some of the lessons that I learned from the last crisis. Here is what we in the mortgage industry should consider doing immediately:

Posted by Besoeker 2020-03-19 10:31|| || Front Page|| [11129 views ] Top

#1 Here is what we in the mortgage industry should consider doing immediately:

How about encouraging builders to construct homes that the average working family could afford instead of HGTV mega tricked out homes?

Posted by Procopius2k 2020-03-19 10:37|| 2020-03-19 10:37|| Front Page Top

#2 I sense great changes coming.

Posted by g(r)omgoru 2020-03-19 11:53|| 2020-03-19 11:53|| Front Page Top

#3 They should construct homes... somewhere other than California for awhile.

Posted by rjschwarz 2020-03-19 13:18|| 2020-03-19 13:18|| Front Page Top

#4 Maybe time for Heinlein's idea of houses made in a factory?

Posted by g(r)omgoru 2020-03-19 13:19|| 2020-03-19 13:19|| Front Page Top

#5 They can build the walls elsewhere and assemble them on site rapidly as is. Theres should be more of that if you ask me. Just not in the parts of california prone to wildfires.

Posted by ruprecht 2020-03-19 15:20|| 2020-03-19 15:20|| Front Page Top

#6 Tear down all the comdemned and substandard urban buildings in the worst areas. Plenty of work for demolition crews and it frees up the property for development later.

Posted by M. Murcek 2020-03-19 16:08|| 2020-03-19 16:08|| Front Page Top

#7 May be time to upgrade...

Posted by Iblis 2020-03-19 19:11|| 2020-03-19 19:11|| Front Page Top

#8 Tear down all the comdemned and substandard urban buildings in the worst areas.

There goes half of Detroit.

Posted by Raj 2020-03-19 19:36|| 2020-03-19 19:36|| Front Page Top

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