Expensive markets face a new reality: lenders get skittish about jumbo loans.
When the unemployment crisis exploded onto the scene three weeks ago, sales totally collapsed. What’s in store for the industry?
And construction companies “aren’t expecting a swift recovery.”
The situation is very fluid.
Never before have so many property funds shut the doors on so many property investors.
Eradicate the virus — without a vaccine? Manage infection rates to let the population “build immunity through suffering” until a vaccine is available? How can we revive the economy without risking thousands of deaths in fresh outbreaks?
“Only good news is that the number was still positive despite the high number of cancellations.”
Loading up on Treasury securities, mortgage-backed securities, repos, “central bank liquidity swaps,” and “loans” to keep the Everything Bubble from imploding further.
This type of sudden, previously unimaginable fall-off-the-cliff data about the lockdown-economy is gut-wrenching.
“Nobody has any taste for risk anymore. All of those exotic loan programs have ceased. All investors buying that paper are gone”: mortgage broker.