{"id":187672,"date":"2011-04-08T16:05:00","date_gmt":"2011-04-08T21:05:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2011\/04\/08\/hoo-boy-5\/"},"modified":"2011-04-08T16:05:00","modified_gmt":"2011-04-08T21:05:00","slug":"hoo-boy-5","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2011\/04\/08\/hoo-boy-5\/","title":{"rendered":"Hoo Boy!"},"content":{"rendered":"<p>One of the things that gets turned off if there is a government shutdown is <a href=\"http:\/\/www.cnbc.com\/\/id\/42495087\">FHA loans<\/a>:<\/p>\n<blockquote>\n<div style=\"color: blue;\">I was hoping not to have to write this particular piece, but it seems I may have no choice, so here we go with housing.<\/p>\n<p>What happens to today&#8217;s housing market without FHA loans?<\/p>\n<p>Right now FHA loans are about 20 percent of the overall mortgage market (purchases and refis) and 40 percent of purchase applications.<\/p>\n<p>Compare that to around 11 percent of the overall market during the last shutdown in 1995. For the nation&#8217;s big public home builders, it&#8217;s far more of an impact, according to analysts.&nbsp;<\/p><\/div>\n<\/blockquote>\n<p>This basically means that the housing market <b>shuts down<\/b> for the duration, because if 40% of home buyers can&#8217;t buy, the remainder will be able to extract even more in the way of lower house prices.<\/p>\n<p>House prices have <a href=\"http:\/\/40yrs.blogspot.com\/2011\/04\/economics-update.html\">fallen 7 straight months<\/a>, but prices are sticky in the short term, so you will have the housing market freeze.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the things that gets turned off if there is a government shutdown is FHA loans: I was hoping not to have to write this particular piece, but it seems I may have no choice, so here we go with housing. What happens to today&#8217;s housing market without FHA loans? Right now FHA loans &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1038,998,1004,1088],"tags":[],"class_list":["post-187672","post","type-post","status-publish","format-standard","hentry","category-budget","category-congress","category-finance","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/187672"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=187672"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/187672\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=187672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=187672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=187672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}