Susan Wachter
speaker
64 appearances
1 recordings
1 series
first heard May 2021
last heard May 2021
Susan Wachter’s voice in public audio — every appearance, attributed to the second.
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Appearances
And the American mortgage is an extraordinary borrower-friendly mortgage because, in fact, stabilizes mortgage payments over time, just like Laurie said.
The problem is if you stretch and if the lender lures you into overstretching your ability to repay.
And if we have a recession, and hopefully we won't have a recession for a long time,
But one cannot rule out a recession in another few years.
It could happen.
And if one member of the family loses their job, and you're counting on both incomes, and if at the same time housing prices fall, you could lose your home.
Eight million people lost their... Eight million people went into foreclosure, households went into foreclosure the last time around.
And an investment is not good if, in fact, investment in your home is not good, no matter how good it may look in the short run, if in the end you've lost your home.
And it's not...
We cannot say in the next recession that housing prices will not fall.
The reason I say that is because the next recession may very well be combined with an increase in interest rates.
And if that happens, then housing prices will fall.
I don't.
I actually think under today's lending criteria, if they can borrow and qualify for a mortgage, then they should, in fact, get on that home ownership ladder.
My concern is that lending standards may erode and cannot guarantee that they will not.
Housing finance right now is in a state of disarray, and there may be some unsettling changes coming.
And if we say that lending, stretching to lend is okay for individuals, then that's a short step away from saying lending to stretch is good for everyone.
And that's exactly how credit bubbles fuel housing bubbles.
We had that in the last great financial crisis, which occurred in the U.S., but similar crises, which combined
Well-intentioned easing of lending standards to allow people to stretch because housing prices were rising instead fueled the house price rise and led to unsustainable homeownership and systemic crises.
Showing 21–40 of 64 · page 2 of 4
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