Beth Haiken
Beth Haiken
appreciation close milwaukee moved risk steady
Milwaukee has been a pretty steady market, where appreciation has moved pretty close to income. Risk is concentrated on the coasts.
appreciation decline far gets home likely
When (home-price) appreciation gets too far away from income, you are more likely to see a decline in home prices.
borrowers concerned credit cycle easily five fully three understand
We're concerned for borrowers because they may not fully understand what may happen. In three or five years, we may be in a different credit cycle and they may not be able to refinance as easily as they expected.
gets risk tends
When one or more of those gets out of balance, that's when risk tends to go up.
ask calls chairman counsel exotic good greenspan people prudence reserve stretch time
People often ask us, 'How should I take all this?' We'd just counsel prudence at this point. This is a good time for people not to stretch in what (Federal Reserve Chairman Alan) Greenspan calls exotic mortgages.