On Monday May 16, 2011, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate Radio show on The Big Talker 1580 AM, hosted by Ryan Sloper.
Listen to the show.
Part 1 (24:12)
Ryan and Louis talk about the economic events of the week. Ryan mentions the Mississippi flooding. Ryan and Louis discuss the debt ceiling issues and that Timothy Geithner, U.S. Treasury Secretary has a few loopholes to avoid the government defaulting. Louis also notes that the US will have to raise interest rates to attract investment. Louis notes that raising the debt ceiling is a matter of course for Congress rather than cutting spending to avoid hitting the debt ceiling. Louis notes that it is considered an “extreme” position to want government to not spend more than it takes in. Ryan notes that China owns $1.14 trillion in US debt and is trying to diversify its assets away from the U.S. Louis notes the dilemma that China is in if they stop purchasing US Debt as the US may not be able to meet paying the interest payments to China without the proceeds from the sale from further US treasuries. Louis notes the fallacy that spending more money when you owe money can solves a debt issue. Louis mentions that the US is the largest debtor nation in the history of the world. Louis notes the practical impact of a government shut down;Ryan and Louis discuss the number of home owners that are underwater on their mortgages;Ryan discusses mortgage and refinance options for such home owners;Ryan notes that business confidence is at a seven month low; Louis mentions that employers get more productivity out of existing employees rather than higher additional employees; Ryan notes the top three areas of job growth over the last year: health care, government and education; Louis notes that state governments, however, are cutting employees to try and close their budget deficits; Federal government job and government contract job growth remains robust;Louis notes that states are limited in their ability to raise revenue by printing money or raising taxes;Ryan reviews current mortgage interest rates;Ryan notes that for the week ended May 7 unemployment benefit decreased and that oil prices decreased, CPI rose 3.25% the most since 2008 but without food and energy prices included prices rose just .2%. Louis and Ryan note that food and energy prices are the largest components of peoples’ budget and discuss whether the rise in food and energy prices are “transitory”;Louis notes that the Federal Government gives no consideration for the various cost of living differences across regions of the United States, noting that a couple earning $250K in the DC metro area is not rich while a similarly situated couple in Alabama might be so considered; Louis and Ryan discuss the direction of oil prices this summer;Louis notes that governments make more in taxes when gas prices rise.
Part 2 (12:44)
Ryan and Louis discuss the direction of home prices and whether purchasing a second home is a good idea. Louis reviews the results of HomeGain’s first quarter 2011 home prices survey; Louis notes that home value consideration should not be based on national data but on the local particulars of the housing market;Ryan and Louis caution against taking a loan out at the maximum qualifying amount;Louis compares buying a home with buying an expensive suit;Ryan and Louis discuss making mortgage decisions based on one’s current employment circumstances and interest rates rather than on speculative future conditions; Louis and Ryan express surprise at how long interest rates have remained low; Ryan and Louis discuss the relative resiliency of the value of the dollar in spite of the long term debt issues that the US faces. Louis notes that ALL currencies are based solely on the full faith and credit of the issuing sovereign. Ryan notes that all Fiat currencies eventually become extinct. Louis notes the absurdity of the U.S. having a triple A rating when it has to rely on “loopholes” to meet its payments. Louis notes that Bill Gross of PIMCO-one of the largest bond mutual funds pulled all their money out of US Treasuries, yet the move had no impact on interest rates; Ryan speculates that the market believes Bernanke and rates remain low;Louis notes that faith may be ill placed faith given his track record.
Part 3 (12:23)
Ryan discusses how to improve credit.
Part 4 (1:55)
Ryan wraps up the show.
Listen to other Real Estate Radio shows with Louis Cammarosano
Listen to the Real Estate Radio show of May 9, 2011
Listen to the Real Estate Radio show of May 2, 2011
Listen to the Real Estate Radio show of April 25, 2011
Listen to the Real Estate Radio show of April 18, 2011
Listen to the Real Estate Radio show of April 11, 2011
Listen to the Real Estate Radio show of March 21, 2011
Listen to the Real Estate Radio show of March 14, 2011
Listen to the Real Estate Radio show of February 28, 2011
Listen to the Real Estate Radio show of January 24, 2011
Listen to the Real Estate Radio show of November 29, 2010
Real estate radio interviews also available on Youtube
About the Real Estate Radio Network
The Real Estate Radio Network® is a nationwide alliance of real estate related professionals with a common objective: delivering the timely truth about local Real Estate Markets over local radio stations.
The Real Estate Radio Network brings hard-working and ethical professionals in a community together. We provide the media and forum necessary for Consumers to learn the truth about important aspects of their financial life, which is mostly centered around their biggest investment, the home they live in. The Real Estate Radio Network® brings each radio program to the audience with a “live and local” show hosted by well-respected members in the local Real Estate and Financial community.
About Ryan Sloper
As a highly motivated mortgage consultant, with more than nine years of mortgage lending experience, Ryan Sloper has acquired a solid understanding of the local and national real estate markets. Ryan has been investing in residential and commercial real estate for the last 5 years, where he has first hand knowledge of what it takes to be a successful real estate investor. Ryan also hosts a weekly radio show, Real Estate Radio, which airs every Monday on 1580 AM in the Washington, DC Metro Area. Real Estate Radio also streams live nationally @ http://whfs.cbslocal.com/shows/real-estate-radio-with-ryan-sloper/