Housing Bubble Bursting?

[Greg Bell]

Need a good dead cat bounce followed by a suckers rally and then a crash......

 

[Randolph Kinney]

Down goes commercial real estate

Tighter standards for commercial real-estate loans hit REITs


Shares of real estate investment trusts traded lower Tuesday on predictions of slower construction spending and a Federal Reserve survey that estimated about 80% of banks tightened lending standards for commercial real estate loans in the latest quarter.

 

[Randolph Kinney]

Pow! goes the prime ARMs

Getting Knocked Down by Prime ARMs

Prime ARMs went to borrowers with good credit because they were less likely to default, right? Wrong

'..,while there's no denying the subprime problem, on closer look it's clear that even prime borrowers were taking on more debt than they could afford.'

 

[Pamela Crowley (Florida)]

http://globaleconomicanalysis.blogspot.com/2008/01/beautiful-model-for-fraud.html

Anyone wondering why there was so much fraud happening need only look at the above chart. Poor working class cities like Cleveland, Ohio and states like California where liar loans were an accepted practice were veritable breedings ground for fraud.

 

[moh malekpour]

Pending Home Resales in U.S. Fell 1.5% in December

http://www.bloomberg.com/apps/news?pid=20601087&sid=a5d4Xk5aPKrk&refer=home

The number of Americans signing contracts to buy previously owned homes fell in December for a second straight month, signaling the worst housing slump in 25 years will persist well into 2008.

The National Association of Realtors' index of signed purchase agreements decreased 1.5 percent to 85.9, the group said today. The drop follows a revised 3 percent decline for November that was larger than previously reported.

 

[MARK JOLLIFF]

I love this thread but you guy's are slowing down. I check this thread everyday along with Bloomberg, MSNBC and Fox Business channel. Yes I have elevated you to this lofty status. Unfortunately for you guy's it entitles you to absolutley nothing. I will mail you guy's gift cards to Peet's or Starbucks if you are getting fatigued with this thread. So Moh, Randolph, Greg and Austin come on boy's I count on you guy's for my daily fix and financial encouragement. Keep it up!

 

[Cigar]

Mark:

I'm with you, but I carry it one step further, I go here first to see what's relevant and this site links me to Bloomberg, MarketWatch or whatever else is important. This is my portal to financial news, we don't need anything else.

Thanks to all, especially Randolph.

 

[MARK JOLLIFF]

Mark:

I'm with you, but I carry it one step further, I go here first to see what's relevant and this site links me to Bloomberg, MarketWatch or whatever else is important. This is my portal to financial news, we don't need anything else.

Thanks to all, especially Randolph.

Agreed....

 

[Austin]

I had an interesting phone message on my answering machine today. It was from the Fannie investigation office wanting me to help with a house on Hopkins Street. I have never heard of that before. I deleted the message as I ain't about to get involved in that form monkey crap.
My view on that subject is the National Bank, the FED, created and encouraged this bubble and therefore any appraiser that facilitated the operation was performing a public service. If they want to put someone in jail, talk to Alan Greenspan.

In the mean time, the recession has been postponed until after the election. Hell, let our grand children worry about.

 

[Randolph Kinney]

Thought the housing bubble already burst, did ya?

FDIC Chairperson Bair: "Housing Crisis Has Just Begun"

Bair says: “foreclosures continue at an unacceptably high level while true loan modifications are lagging”, but that’s just the tip of the iceberg. She also warns that in 2009, $600 billion worth of prime borrowers will see their “non-traditional” mortgages reset, and many won’t be able to find the cash.