Manages Parisian Family Office. Began Wall Street, 82. Founded investment firm, Native American Advisors. Member, White Earth Chippewa Tribe. Was NYSE/FINRA arb. Conservative. Raised on Native reservations. Pureblood, clot-shot free. In a world elevated on a tech-driven dopamine binge, he trades from Ghost Ranch on the Yellowstone River in MT, his TN farm, Pamelot or CASA TULE', his winter camp in Los Cabos, Mexico. Always been, and will always be, an optimist.

Tuesday, July 18, 2006

How about your ROOF????

Feeling some heat? Interest rates are up or so the government tells us. What do you think? Housing in the United States has peaked. There is a price to pay for those who own interest-only and pay-option adjustable-rate mortgages.

Over the last few years some people got 100% financing for their homes. Mortgage default rates will be rising very soon. As housing prices fall more people will be under water. Foreclosures will create a tough environment for builders of new homes. From my perch driving by the signage on the number of homes for sale in greater Atlanta I see it has swollen from 76,000 to 91,000 over the past couple of months.

No comments: