All the press has said they will be buying them at current market values.
How is it the current market value if the market won’t pay it?
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The current market is 20/30 cents on the dollar. The market won’t pay because we are in a panic situation. So, it is up to you to decide whether this is a great enought haircut. If a house in your neighborhood sold three years ago for $100,000 and it is now selling for $30,000 or $20,0000, is it a good investment??
The trick is knowing how to get in line to snap these up from the Fed. Anyone think they'll allow the public to the auctions or selloffs?
No, you're trying to spread panic. You're claiming that there is a market price that the market isn't willing to pay.
Doubletalk.
“If a house in your neighborhood sold three years ago for $100,000 and it is now selling for $30,000 or $20,0000, is it a good investment??”
It probably IS to someone that wants to buy a house to LIVE in versus those that buy a house to hold for two years and then walk away with a 200% profit.
I see the whole “nothing down”, financed with an ARM that doesn’t adjust for 3 years, and a market in which house prices double every 5 years as a catalyst for much of the current problem.
But houses are houses and people still want and need them.
As you have pointed out in many of your posts, there is still a lot of value in the assets behind this bad paper.