Dying industries in America

But not the fourth.

^why not?

If the likes of J Crew, Gap, Banana Republic...etc...etc all die off, we'd all be better off.

Everybody in bespoke clothing, tailored exactly to fit your bodily idiosyncracies

Apparel manufacturing, not apparel retailing. J Crew, GAP, Banana Republic--THEY ARE THE PROBLEM!!! They manufacture shit in China paying slave wages and hawk it like junk to losers in North America! I'm also for Not the 4th , also not the 6th and 7th.

^^^What he said.

On the plus side, the forecasted declines in revenues for mills and apparel manufacturers seem to be much less dire than what they were last decade, so maybe there's hope.

Record stores? Are they even around anymore?

i think CD's coutn too... and yes there are a few still left.

I can't believe the market for trailer parks is in such decline.

Nowadays, apparel manufacturing in America is not done by free Americans. Emphasize "free" and "American". Most of the workers are undocumented and you can see US made quality through shoddy stitching and uneven pattern matching. The classic example of what I'm talking about is AA (made in downtown LA), who also makes uniforms for US Army. I used to buy tons of US made outdoor equipments, from HID lights to knives and hiking bags, and I can tell you that made in USA means diddly squat these days. Then, you have prison labor, comprised of mostly immigrants and untrained natives, churning out "made in USA" denim trousers with pride and love.

It is trailer dealers, but that surprises me, as well.
I know the major player in financing mobile and manufactured home purchasers has been teetering for a couple years. I think I just read where it had been acquired and the plan is to put it back on solid financial footing, so this may be a temporary downturn.

With mortgages to purchase a stick-built house tougher to obtain, I'd be surprised if manufactured housing doesn't make a comeback.

You're an idiot.

Do you think we're going to see a return to "real" underwriting practices, like 20% down and 36/28 (I think that's the %) ratios?

Qualifying ratios are definitely back in vogue. I don't think they'll be precisely defined, but I don't think we'll see 50+ backend ratios like we did in the fury of ninja loans.

As to downpayment: no, not 20%, although we are seeing risk-based pricing, in rates and up-front fees depending upon downpayment. In the old days, about the only pricing difference was in the mortgage insurance rate.

I closed a deal a couple weeks ago for a "golden" buyer: they went 80-10-10 and got nicked on the 80 with a bunch of up-front fees because of the existence of the 10 second. That would never have happened three years ago: the pricing would've been the same as if they'd put down 20%.

Things are just going to be different; it isn't necessarily a bad different. I think most people in mortgage industry learned their lesson. Or they are hiding out while they figure out a way to game the system again.

We looked into a really beautiful house about a month ago. When I ran the numbers I realized I'd be cutting into my safety fund too much as I figure it's going to cost me 30-50k out of pocket to unload our current house. So just to feel things out I asked the agent to see if the seller would hold a private mortgage on 10% so I wouldn't have to come up with 20% down. I had done my research and knew this owner had several homes on the market. They were willing to do it but the rates were no good and I wasn't happy with the fact he'd not come down due to holding the note. Just very interesting to see he'd be willing to buy paper to move a house. Thanks for your insight.

I know little to nothing of trailer homes.

Are most them financed by a mortgage company?

Or are they owner financed? By the seller that is?

I doubt many new mobile homes are paid all cash.