Federal Housing Finance Agency chief Mel Watt approves home-loans at 3% down for first-time buyers with “less-than-perfect credit scores.” While government leaders are desperate to lure Millennials to the market, is this is a smart decision?
“This is the next bubble on the way,” high-end real estate broker Richard Nassimi says. “Clear clear sign. The collapse of Washington mutual… This is terrible cycle that led to the financial crisis in the first place, so why go down this road again” Richard Nassimi is an expert on the housing market. He has personally sold over a 500 Milliom in real estate.
Are these loans sustainable? “They can be, if done carefully,” Nassimi says. “It could actually end up leading to a new surge in the economy.” Is it done right? That’s the trillion dollar question. Nassimi has some compelling, thought-provoking insights for your audience that could help answer some of these questions:
Are we falling into the same trap that led to the 2008 collapse? Is it responsible to approve a 3% down payment and lower-credit standard for 1st time buyers? China already has $1.2 trillion in US assets. If loans default and the economy collapses, would China have to come clean up the mess? Will these Liberal economic housing policies create another meltdown? This is a very important story and one I think would spark major debate as we head into 2015.
JUST LAST WEEK, OBAMA PUSHED HIS
NEW HOUSING AGENDA IN ARIZONA
“Standing at the epicenter of the nation’s recent housing crisis, President Barack Obama last Thursday promoted plans to lower some mortgage insurance premiums, a move the White House says could save homeowners $900 a year and attract 250,000 first-time buyers.
The housing market in Arizona is drastically different than it was when Obama first visited the state weeks after taking office in 2009. The state’s foreclosure crisis has evaporated. Home prices have soared and are nearing pre-crisis levels.
“This progress is not an accident, it’s not luck,” Obama said. “It’s what happens when you have policies that put middle-class families first.”
Despite the rebound in the housing market, nationwide home sales slowed in 2014, as rising home values pushed many would-be buyers to the sidelines.
The rate cut Obama announced Thursday is aimed at getting more buyers into the market and helping homeowners who refinance save money. At the end of this month, the Federal Housing Administration mortgage premium will drop from 1.35 percent to 0.85 percent.”
Richard Nassimi is known for his successful sales and marketing of New York City’s premier residential developments to both international and domestic investors. He has established a reputation for delivering a maximum return to every property he represents. His success is based on strategic pre-development planning, creative marketing and superior sales management. Nassimi is sought-after by many of the finest developers for his ability to seamlessly bring together all aspects of the sales process. “Building wealth for my clients is my #1 priority,” says Nassimi, who is recognized as one of the leading marketers of luxury residential developments in New York City. A native of Milan, Italy, Nassimi studied economics at the International School of Milan, where he first became involved in real estate development. Nassimi’s assets include his scrupulous attention to the bottom line and his round-the-clock accessibility to developers and investors throughout the world. He leads The Nassimi Group, a team of seasoned professionals with unsurpassed expertise in sales, marketing and negotiation.