Straight Talk About Mortgages and Real Estate

ask yourself, why?

As best as I can tell, they are having a bad afternoon because General Motors got downgraded.

GM got downgraded?   There’s a surprise.   NO ONE thought GM was in trouble?   Come on people, anyone who knows anything about business knows that GM is in trouble.

So what’s the big deal?   It’s a sign that the markets are irrational right now.

What has changed since yesterday?   Nothing.   Does GM have an impact on the housing market?   Only in the sense that they own GMAC mortgage and their impact on consumer confidence.

Should people be in a panic about today’s market?   Not unless you own 50% of your holdings in GM stock and you need the money next year.

Relax.  Take a deep breath, no one’s gonna die……

Tom Vanderwell