Stricter Lending Guidelines for Condos

also about developers ceasing with the harebrained schemes hatched to create product for the lemmings

hisssssssssss goes the bubble---and the gasses leaking smell awful

catch this from the article:....

"Last year, Fannie approved 93 percent of the 1,700 condo buildings in New York that applied for waivers. "

noticed that also--notice exactly big teeth so far for ny dev'pers--we shall see ongoing

typo---jeez---"not" exactly big teeth so far.....

lending standards are still extremely lax (in terms of building stability and down payments) for purchasers of conforming/FHA condo units. one wonders how long that can continue.

Catchthiscatchthis from the article.

7% of all new developments in the greatest bubble in nyc can't get fha mortgages!!!!!! And that's with every single piece of the puzzle being jammed together with duct tape! Holy fk, how fked is this nyc re mkt!

Catchyhis!

1/3 of all sales nationally are short/foreclosure!

Catchthis!

3.4mm foreclosures! And 5mm in pipeline. !!!

Catchthis!

Banks themselves are walking away from foreclosures!

Catchthis!

This is with the most pro housing stance by the Feds!!!!! 19months of zero!

And finally you Fking micro dicked smelly cunt rag. Here is an Econ lesson.

Get all your loved ones and buy one of these non fha approvalable condos and self fund it. Yeah, lend every ninny 30yrs money at 4%!!!!! but remember you're gonna self fund it and keep it for 30 yrs! Makes great sense? No?

Well guess what, WE taxpayers did this for 93% of underwater developers! So I assume you fk one of these developers or sell shit for her! Flmaozzzzzzzzzzzz