Economist: $2 trillion lending crunch may be ahead - Nov. 16, 2007
"if lenders end up suffering just half of the $400 billion in potential credit losses, they could be forced to reduce the amount they loan by $2 trillion. Such a drastic credit crunch could have dire consequences for the economy..."
Sunday, November 18, 2007
Monday, October 29, 2007
Greenspan: home prices will continue to fall - Oct. 29, 2007
Greenspan: home prices will continue to fall - Oct. 29, 2007
"We're nowhere near" the point where inventories of new homes are set to drop.
"We're nowhere near" the point where inventories of new homes are set to drop.
Friday, October 26, 2007
New sign of housing weakness: Vacant homes on market up - Oct. 26, 2007
New sign of housing weakness: Vacant homes on market up - Oct. 26, 2007
"It's very hard to see how this doesn't get worse," Baker said. "It's certainly possible we could see 3 million, maybe 4 million (vacant homes on the market.)"
"It's very hard to see how this doesn't get worse," Baker said. "It's certainly possible we could see 3 million, maybe 4 million (vacant homes on the market.)"
Wednesday, October 24, 2007
Wednesday, October 17, 2007
5 conditions to end the credit crunch - Oct. 17, 2007
Think the credit crunch is over? Think again
Despite what Wall Street boosters would have us believe, the credit crunch is far from over. Fortune's Peter Eavis outlines the five steps that need to happen before we can say the end has come.
Despite what Wall Street boosters would have us believe, the credit crunch is far from over. Fortune's Peter Eavis outlines the five steps that need to happen before we can say the end has come.
Thursday, October 11, 2007
Foreclosures Doubled in September as Loan Rates Rise...
Bloomberg.com: Worldwide
There's a 10-month supply of unsold homes, the highest in at least eight years. As many as half of the 450,000 subprime borrowers whose mortgages will re-set through November may lose their homes because they can't afford the higher payments, according to a report by Credit Suisse Group.
``The truth of the matter is that borrowers are going into default as soon as they hit their adjustments...''
There's a 10-month supply of unsold homes, the highest in at least eight years. As many as half of the 450,000 subprime borrowers whose mortgages will re-set through November may lose their homes because they can't afford the higher payments, according to a report by Credit Suisse Group.
``The truth of the matter is that borrowers are going into default as soon as they hit their adjustments...''
Thursday, October 4, 2007
For home-builders, the worst is to come - MSN Money
For home-builders, the worst is to come - MSN Money
The stats vary by region, but the national inventory of homes is at an all-time high, with an eight-month supply. One in 7 1/2 houses is actually vacant. Prices are tumbling. And there is little relief on the horizon, even from the Federal Reserve.
The stats vary by region, but the national inventory of homes is at an all-time high, with an eight-month supply. One in 7 1/2 houses is actually vacant. Prices are tumbling. And there is little relief on the horizon, even from the Federal Reserve.
Wednesday, October 3, 2007
RealtyTrac Los Angeles County Foreclosures
RealtyTrac Los Angeles County Foreclosures
The nation’s #1 source of foreclosure listings. Over 1 million properties – updated daily – including pre-foreclosure, bank foreclosures, for sale by owner (FSBO), foreclosed homes via auction, new homes and MLS listings.
The nation’s #1 source of foreclosure listings. Over 1 million properties – updated daily – including pre-foreclosure, bank foreclosures, for sale by owner (FSBO), foreclosed homes via auction, new homes and MLS listings.
Tuesday, October 2, 2007
Pending home sales fall sharply | Reuters
Pending home sales fall sharply Reuters
"The July number was revised up a bit, to a decline of 10.7 percent, but this is still absolutely awful, confirming that the existing homes market is now in freefall"
"The July number was revised up a bit, to a decline of 10.7 percent, but this is still absolutely awful, confirming that the existing homes market is now in freefall"
Monday, October 1, 2007
Financial Armageddon: It's Ugly Down There
Financial Armageddon: It's Ugly Down There
” . . .we're in deep doodoo." --Robert Toll, CEO of Toll Brothers
” . . .we're in deep doodoo." --Robert Toll, CEO of Toll Brothers
Sunday, September 30, 2007
Housing Crash Continues, Bubble Pops
Housing Crash Continues, Bubble Pops
Here is Patrick's website. He was one of the first to predict the housing crash! He gives great arguments (which he has been repeating again and again for the past couple of years) and his site has daily links to related news...
Here is Patrick's website. He was one of the first to predict the housing crash! He gives great arguments (which he has been repeating again and again for the past couple of years) and his site has daily links to related news...
Saturday, September 29, 2007
Housing Armageddon
Housing Armageddon
A San Francisco couple's biased and offensive views on the housing market from a rented 1-bd apartment. They haven't posted since December of 2006, but before then they were some of the smart people who were calling for this to happen all along. The writing was definitely on the wall...
A San Francisco couple's biased and offensive views on the housing market from a rented 1-bd apartment. They haven't posted since December of 2006, but before then they were some of the smart people who were calling for this to happen all along. The writing was definitely on the wall...
Are we headed for an epic bear market? - MSN Money
Are we headed for an epic bear market? - MSN Money
The credit bubble is just starting to unwind, a credit-derivative insider says... "Das, who knows as much about global money flows as anyone in the world, stopped chuckling long enough to suggest that we're actually still in the middle of the national anthem before a game destined to go into extra innings. And it won't end well for the global economy."
The credit bubble is just starting to unwind, a credit-derivative insider says... "Das, who knows as much about global money flows as anyone in the world, stopped chuckling long enough to suggest that we're actually still in the middle of the national anthem before a game destined to go into extra innings. And it won't end well for the global economy."
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