Comments on: Peeble’s Timepieces http://www.ritholtz.com/blog/2008/11/peebles-timepieces/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Sat, 21 Nov 2009 20:55:33 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: jmborchers http://www.ritholtz.com/blog/2008/11/peebles-timepieces/comment-page-1/#comment-125653 jmborchers Tue, 11 Nov 2008 23:12:08 +0000 http://www.ritholtz.com/blog/?p=9021#comment-125653 Watching this video of expensive housing gives me the thought that with Freddie and Fannie under gov't control they don't have to mark to market and can resume the mark to make believe accounting rules. Put that in combonation with some made up loan program for timing purposes and we are on our way. Of course people won't live long enough to pay 40 year loans or pay them off by retirement time but they can just refinance later on when the housing value comes back up to what they overpaid for in the first place. Watching this video of expensive housing gives me the thought that with Freddie and Fannie under gov’t control they don’t have to mark to market and can resume the mark to make believe accounting rules. Put that in combonation with some made up loan program for timing purposes and we are on our way.

Of course people won’t live long enough to pay 40 year loans or pay them off by retirement time but they can just refinance later on when the housing value comes back up to what they overpaid for in the first place.

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