Mortgage Crisis Not Limited To Subprime
According to this short video from the Wall Street Journal, the mortgage crisis is no longer limited to sub-prime loans. Its spreading to other loans and even construction loans.
I wonder if the analyst believes that Fannie Mae and Freddie Mac are going to fail?
If you found this post helpful, consider donating to my coffee fund!- Is The US's Economic Strength On A Permanent Decline? Jim Rogers thinks the US has lost its title as the world's economic engine. He thinks the subprime mess will last for years, Bernanke doesn't know anything about the economy and should resign, the US dollar is on a permanent decline and China will become the world's foremost economic power.......
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Gold Is A Lousy Investment Gold hit another record today and is currently trading over $1,100 as I write this. However, it hasn't prevented several news stories coming out about how gold is a lousy investment. Investment stalwarts from Warren Buffet to Monish Pabrai have all denounced gold as an investment. And despite the decent...... - Housing Update From WSJ Todays WSJ had a decent article on housing, 'Housing Glut Gives Buyers Upper Hand'. Seems like certain parts of the country are in for a bumpy ride. Here are some excerpts.*A quarterly survey of housing conditions in 28 major metropolitan areas by The Wall Street Journal showed that the inventory......
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June 11th, 2008 at 5:02 pm
You gotta know that if people can’t get loans, they can’t buy homes. Therefore the contractors/developers have houses just sitting. They are trying to flush them out by selling at cost, but that does not mean there are enough people there to buy them. Seems that banks are to tight now, they are going to be stepping on their own feet for a while. It is not over by any means. Some people are going to get hit and they do not even know it yet.
June 12th, 2008 at 10:43 am
I wonder if more banks are going to go the way of the realty companies because of this.
June 19th, 2008 at 9:08 am
I knew it was going to happen, the question was whether it would happen sooner or later. It is not so much a matter of whether good credit scores have a good history of making payments, but whether they have a good financial management system in place. It will be interesting to see how this “new” trend affect the economy as whole.