To be continued

http://usa.chinadaily.com.cn/china/2016-11/09/content_27325143.htm

I’m not saying that all of them will buy houses in BA but Canadian taxation and potential Australian taxation reducing geographical area for foeign investors

I’m waiting for this to be a ballot measure here. It’s easy to target people that don’t have voting rights. A lot of locals blame foreign investors for why home prices are so high.

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Let’s see if Dodd Frank got loosened. If it does oh boy. Brace yourself for a rocket ship ride.

Why would that matter when everything is freddie, fannie, or FHA? Subprime never really went away. It’s just FHA now. It doesn’t impact the bay area, since FHA offers aren’t competitive.

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Dodd Frank’s QM rules apply to all mortgage underwriting. And banks are so afraid of being sued they layer extra restrictions on top of plain vanilla QM rules.

What rules do they add besides the freddie/fannie rules?

Trump Team Promises To ‘Dismantle’ Dodd-Frank Bank Regulations
http://www.npr.org/sections/thetwo-way/2016/11/10/501610842/trump-team-promises-to-dismantle-dodd-frank-bank-regulations

I can’t find anything written on this topic. I heard that multiple times on Bruce Norris’ radio show. Mortgage underwriters go extra conservative on qualifying applicants to guarantee the files don’t get rejected by Fannie and Freddie. When QM was still rolling out a year or two ago, there was enough uncertainty that banks pull back extra hard. If they can’t sell the loans to Fannie and Freddie they have to keep that on their books and eat up precious capital.

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Dismantling Dodd Frank would cause real estate priced to skyrocket. …especially in the areas where there are few cash buyers…

The snowball is starting to roll baby!!! Hold on, everybody!!!