Housing Bubble Bursting?

[Steve Owen]

Hey! I got to be #3800... and 3801.

 

[Randolph Kinney]

What are the charts telling us about ALT-A?

 

[Randolph Kinney]

ALT-A seems to be catching contagion

IndyMac lays off 400, to take $6.5 million charge

IndyMac's dollar-loan volume fell 12% in the second quarter, compared with the first three months of 2007, the executive said. In terms of the number of loan units offered, volume fell 17% because the company stopped offering so-called 80/20 piggybank mortgages, in which the borrower has two loans stacked on top of each other, Perry indicated.

 

[Randolph Kinney]

Subprime losses are larger than expected

Financial Stocks: Credit worries trash financial sector

Subprime concerns wee amplified earlier this week when Federal Reserve Chairman Ben Bernanke said he expected losses from subprime loans to reach as high as $100 billion.

 

[Greg Bell]

Indy Mac is the new New Century...

 

[Greg Bell]

Looks like a global crash is coming , not just the U.S.

Although fears for the health of the US housing market have captured headlines, the degree of over-valuation is more 'severe' in Britain, Australia, Spain and Ireland, ABN Amro calculates.

A note by the bank in April found that UK residential property is 50% overvalued, whereas US houses are 25% too expensive.

The research comes ahead of a slew of key data that will expose the health of the British economy.

Among the most significant reports will be official inflation numbers due on Tuesday. Economists expect consumer price growth to ease to 2.5%, but even a larger drop is unlikely to prevent further hikes by the Bank of England.

 

[Workbox]

I hear southern LO's are trying to do Alaska Loans...... and Stated.

 

[Alison Swain]

Indy Mac is the new New Century...

Greg, I'm beginning to think you really like all this doom and gloom.

Maybe we should change your name to...."Reaper."

 

[Terrel L. Shields]

Maybe we should change your name

Greg Reaper...it rings a Bell....?

One man's pessimism is another man's blunt facts.

 

[Dee Dee]

Maybe if everyone just stops talking about it, it'll just go away.