On Monday June 20, 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 (24:26)
Ryan notes that the most expensive home in the United States has been sold-former Aaron Spelling’s home. The asking price was $150 million. Ryan covers the Greek debt crisis and compares the Greek situation to the U.S. debt issues. Ryan notes that the burden of the debt crisis isn’t falling on the debt holders but rather the people of Greece. Louis remarks that the debt holders seem to be protected from taking losses by willingness of the European Central Bank to bail them out. Louis notes that the European banks are the main holders of Greek debt and perhaps the money markets. Louis notes that the US will probably not default but rather print the difference thus devaluing the currency. Ryan notes that the US debt is more than the $14.3 trillion but closer to $100 trillion when unfunded liabilities are factored in. Louis notes that the Fed has a target inflation rate and remarks that there should no inflation targets and compares this to having a target pollution rate-just the right amount of lead in our drinking water. Louis notes that all the sovereigns have a vested interest in keeping interests rates low. Louis notes that even with low interest rates, home prices are still falling. Louis notes lending issues, employment issues and over supply are keeping prices down. Ryan notes that $41 billion has been spend on US housing. Louis notes that the low dollar . Louis notes that more potential buyers are paying attention to the rent to buy ratios. Louis notes the absurdity of the government trying to dictate the direction of the housing market, noting that five-ten years ago the government was making policy designed to get as many people into homes and now the policies are designed to prop up home prices. Louis notes that such a planned economy does’nt work as it creates unnaturally large booms and then the government attempt to soften the inevitable bust with low interest rates.
Part 2 (13:21)
Ryan noted that the producer Price Index was up and that retail sales were up more than expected. Ryan discusses the upcoming Fed meeting.Louis and Ryan discusses the results of HomeGain’s 2nd quarter 2011 home values survey. Louis notes that half of real estate professionals nationwide expect home prices to decline over the next six months and notes that the complete survey results can be found by visiting homegain.com.Ryan notes that the majority of the country has a negative view on housing which is in some contrast to the Washington D.C. metro housing market. Louis notes that Realtors that are successful in today’s market have to do more transactions as the average order size has declined. Louis also covers Homegain’s Presidential approval poll results and notes that as a group 2/3 of real estate professionals disapprove of Obama’s performance. Louis notes that those that strongly disapprove the Presidents are about 2X the percent that strong approve of his performance. Louis discusses Austrian economics.
Part 3 (11:12)
Louis and Ryan discuss the suitability of ARMS for home buyers.
Part 4 (2:03)
Ryan wraps up the show.
Listen to other Real Estate Radio shows with Louis Cammarosano
Listen to the Real Estate Radio show of June 13, 2011
Listen to the Real Estate Radio show of June 6, 2011
Listen to the Real Estate Radio show of May 23, 2011
Listen to the Real Estate Radio show of May 16, 2011
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
Listen to the complete archive of Louis Cammarosano on Real Estate Radio shows
Real estate radio interviews also available on Youtube
About the Real Estate Radio Network
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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/
Enjoyed the show! I can’t speak for other areas but in my neck of the woods house prices are falling because foreclosures are driving down the appraised values of “regular” homes. Yes, rates are low but if folks can’t afford to take a loss, and they aren’t already in trouble, they will ride it out.
July 3rd, 2011 at 6:33 pm