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(Marketwatch)   Will the Fed rate cut help the housing market? In short, nope. Hug an investment banker today   (marketwatch.com) divider line 13
    More: Obvious  
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611 clicks; posted to Business » on 19 Sep 2007 at 3:33 PM (7 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



13 Comments   (+0 »)
   

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2007-09-19 03:39:02 PM  
No, but it will, possibly, put off the massive asset revaluation until the next president is in office.
 
2007-09-19 03:43:04 PM  
Why the heck should i hug an investment banker? Because they made a bunch of foolish investments?
 
2007-09-19 03:47:33 PM  
Saves me about $20 a month on my HELOC. Which I will in turn spend on beer and fast food. It's the American way.
 
2007-09-19 03:49:52 PM  
I love how the 10-yr treasury note is up since the announcement. The sooner that housing prices crash the better for the economy.
 
2007-09-19 04:04:59 PM  
NikolaiFarkoff: Saves me about $20 a month on my HELOC. Which I will in turn spend on beer and fast food. It's the American way.

Actually this has nothing to do with your consumer credit, so it won't help you HELOC at all. The rate they're talking about is the 'discount window'. Basically it'll make inflation go up but won't help you out at all. Cool huh?
 
2007-09-19 04:23:01 PM  
the_geek
My heloc--like all of them in this bank--are tied to Wall Street Journal Prime, which is just Fed Funds plus 300bp. So next month it goes from 8.25% to 7.75%.

The Discount rate adjustment was last month (that's the interbank one, which doesn't affect consumers).
 
2007-09-19 04:27:49 PM  
Cubist Robot Party 2007-09-19 03:39:02 PM
No, but it will, possibly, put off the massive asset revaluation until the next president is in office.

Skeezy cheating f*ckrs who can't take any responsibility.
 
2007-09-19 04:42:05 PM  
The rate change tells me that this trend isn't changing for a while.

ichart.finance.yahoo.com
 
2007-09-19 04:55:38 PM  
I don't know much about housing/investing; but I do know, in spite of all the terror stories I'd been reading and hearing about; my condo sold in the midst of this 'housing crash' for 5k less than asking.

It was an investment/flip and I made some cash from it; now interest rates are still super low, I've got cash for a downpayment *and* people are telling me that housing prices are going to drop.

So, I guess through pure blind luck I'm sitting pretty. And, on top of it all, I have a semi-government type job that's about as stable as you could find.

In short; crash housing market crash!
(I think)
 
2007-09-19 05:25:05 PM  
Fark_Guy_Rob:

In short; crash housing market crash!
(I think)


Well, if you are OK with having your money become worth less.

In a way, there's just no end-run around this thing. The good ole middle class will continue to bankroll this entire farking carnival, in addition to foregoing the luxury of debauchery, a privilege held only by the very rich and the very poor.

So, keep your Family Values and hang on to your house and hope to God your neighborhood hangs in there. . .

.
 
2007-09-19 07:14:58 PM  
Hug an Investment Banker, huh?

media4.cnbc.com

I'll take the one on the right, please.
 
2007-09-19 07:30:26 PM  
Oddly enough, I was at a convention of investment bankers this week, and the general opinion I got from listening to them was that it would help the housing market a bit. Not a lot, but certainly help things stabilize.
 
2007-09-19 08:24:50 PM  
I should look into a re-fi.

/Currently 30 year fixed @ 6.125%
 
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