[roccman]

"So without this tweaking of the numbers the US actually lost about 40,000 jobs last month. Sound more reasonable?"

46,000 to be exact.

http://urbansurvival.com/week.htm

[roccman]

Got my hand slapped from a mod for posting monster links. Apparently it is in the code of conduct. My apologies...will avoid in the future.

So this is a test post using that globe/chain thing.

PBS Video

PBS FINALLY on board with the bone crushing thud of the housing market.

[roccman]

Yeah Baby!!!

It worked.

Now if only I could get an avatar and post a picture.

Oh well.

[roccman]

National Pending Home Sales Index


Wonder if the right side of Hubbert's Peak is gonna look like this?

[ColossalContrarian]

all you need to do to post the picture is right-click the picture and in properties highlight the URL, then in the posting screen click on the icon with the mountains and the sun (you have to turn off popup blocker)

$this->bbcode_second_pass_quote('', '
')Wonder if the right side of Hubbert's Peak is gonna look like this?

[roccman]

[roccman]

Thank You Sabibaby!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

A new and improved Roc!!!!

Now allz I gotz 2 do is figure out how to quote!!

[ColossalContrarian]

Another great graph!




Edit: I'm not sure what the date of month Zero is? Maybe it's January 07? I'll see if I can look this up again...

maybe this thread and the "Subprime Lending Colapse?" Thread should be merged.

[roccman]

Great graph!!!

Im am looking for the 80 Million bail out link I read about three weeks ago.

Not even a drop in the bucket.

Like pissing on a forest fire.

[roccman]

Foreclosures Increase

"Gilroy - Maria Alarcon Garcia and Julio Romero's plight isn't rare. The number of default notices in Gilroy nearly tripled in early 2007 compared to early 2006, according to a DataQuick Information Services analysis recently published in the Mercury News. From January to March 2007, 62 Gilroy homeowners defaulted on their loans. The trend is driven by sagging home values, which have prevented owners from simply reselling their homes when overdue payments stack up."

[roccman]

Resetting ARMS - It's the initial break that hurts

"People who can't make their mortgage payments should contact their lenders to explore refinancing, said Pozsar. “It's in the lender's interest to work something out.”


Yeah right!!!

These FB's could not afford a fixed rate 3 years ago...what makes any blue skier think they can afford it now?

[roccman]

Phoenix Meltdown Well Underway

[roccman]

If I had an ARM I would be watching the next Fed meeting closely...

[roccman]

So where do you think joe six pack is...??

Me thinks PANIC!!!

[roccman]

Bernanke: housing is tanking economy ...oh and dollar slide mo'

[threadbear]

I think this story has legs! It has ARMs too, and tentacles that reach deep into WallStreet. What an Octopus!

Sold to Wall Street

However brokers snared customers, lenders in California typically sold the loans to big banks or Wall Street firms. Under U.S. law, investors who buy mortgages or securities backed by them are typically not susceptible to lawsuits alleging fraud on the part of brokers.

Such protection partly explains why the U.S. mortgage-backed- securities market has ballooned. The market more than tripled since 2000; $2.4 trillion of MBSs were issued last year, according to the Securities Industry and Financial Markets Association in New York. Last year was the first time more than half of the securities issued were backed by subprime and other nonconforming loans, according to the trade group.

http://www.bloomberg.com/apps/news?pid= ... refer=home

[roccman]

The Gonu of the financial world.

[firestarter]

Tsunami warning:

Another one bites the dust

[mlit]

Hurting the Canadian sawmills a little hard too.

US Lumber Market Drying up Till 2011

[roccman]

This is getting VERY UGLY!!!!

(YOY monthly percent change in the actual home-price figures)







Hat tip to Keith at Housingpanic for the graphs