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April 7, 2008
The Mortgage Bankers Association Mortgage Problem
This is just too easy, but it's hard not to be amused at the mortgage troubles faced by the Mortgage Bankers Association. It is being forced to pay much higher prices than it expected on its new Washington offices, and it is doing that with smaller coffers given the disappearance/shrinkage of a goodly chunk of its mortgage-making membership.
But are they feeling badly for themselves? Of course not -- because it's always a good time to buy property.
Anytime is the best time to buy," said Kieran P. Quinn, chairman of the association. "Over a 10-year horizon, [the purchase] looks great."
C'mon, its eye-rolling member companies must be thinking, save the "real estate is always a great investment" patter for the chumps buying property in places like Maricopa, Arizona.
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