Spring Conference Review - reomac

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Session II – continued from page 29 allow them to buy a home now at today’s greatly reduced prices and at today’s low interest rates. He did state that adjustable and gimmick loans should be eliminated and that buyers must be required to put 5-10% down. Dr. Thornberg believes that this plan would also cause the lenders holding many of today’s upside-down mortgages to have a strong incentive to work harder at restructuring loans and short sales. The homeowners would be able to walk away from their current loan/home and immediately purchase another home at today’s market price and benefit from the lower mortgage rates. This program would allow for a quicker resolution and recovery and would cost all parties involved (government, homeowners, banks, tax-payers) less money. Dr. Thornberg then demonstrated with charts how a 40% reduction was necessary to get the Los Angeles areas real estate prices back in line with the 70 year trend of 1% home value increases per year. These historical increases were directly tied to and moved in sync with average incomes and income/housing payment ratios. He summarized and concluded his presentation by looking at our present situation and looking forward with predictions for the next three years. He believes that we are currently in a recession but are about to enter a healing phase as prices are getting closer to their historical levels. Consumer weakness will continue, but won’t last forever. Business weakness will get worse based on profit issues, commercial REO’s are about to takeoff over the next 2 years. There is also a significant danger of inflation taking off due to the Federal Reserve’s huge expansion of the money supply (done in an effort to stimulate the economy). He referred to this huge expansion as a “big pile of kindling” that could turn into a big fire. Lastly, he concluded we are in the worst recession since World War II, but not in a depression. If everything goes the way he is predicting, the economy should begin to recover in early to mid 2010. A housing recovery should be in full-swing by 2012. Let’s hope he’s right. 30 Ma y / Jun e 2009 REOMAC ® update tm
REO Home Repairs • Board ups • Carpentry • Carpet cleaning • Carpet Replacement • Demolition • Electrical • FHA repairs • Foundation Repairs • HVAC Home rehabilitation for banks, asset companies, realtors • Mildew Removal • Painting • Permits • Plumbing • Roofing • Interior Sales Cleaning • Termite Work • Trash-outs • Windows • Los Angeles • San Bernardino • Riverside • Orange • San Diego Serving Five Southern California Counties ZIP code lists can be found on our Web site www.reohomerepairs.com One Call Does it all Kelly Archer Bonded • Insured Licence #818991 Ph (800) 497-4610 Fax (800) 856-3041 REOMAC ® update tm Ma y / Jun e 2009 31
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Page 6 and 7: Kathy Jeffers-Volk Editor What a wo
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Page 10 and 11: Diana Kendall 2009 Conference Chair
Page 12 and 13: Thank You Gold Sponsor 10 Ma y / Ju
Page 14 and 15: Thank You Bronze Sponsor 12 Ma y /
Page 16 and 17: Thank You Keynote Sponsor 14 Ma y /
Page 18 and 19: Thank You Key Auction Sponsor 16 Ma
Page 20 and 21: Sunday Welcome Reception Sponsor Th
Page 22 and 23: Thank You Sponsors Golf Eagle Tee S
Page 24 and 25: We Salute Our Spring Conference Exh
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Page 28 and 29: Session I - continued from page 25
Page 36 and 37: Session III - continued from page 3
Page 40 and 41: Early Session 1 - continued from pa
Page 44 and 45: Early Session 3 - continued from pa
Page 46 and 47: Late Session 2 - continued from pag
Page 48 and 49: Late Session 3 - continued from pag
Page 50 and 51: REOMAC® Newsletter Advertising Pol
Page 52: Sid Covers Connecticut! More than 3

Spring Conference Review - reomac

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