[basil_hayden]

$this->bbcode_second_pass_quote('Ludi', '')$this->bbcode_second_pass_quote('Roccland', 'O') yes - global economies come crashing down this year...not a doubt in my mind.

[Daculling]

$this->bbcode_second_pass_quote('Ludi', '')$this->bbcode_second_pass_quote('Roccland', 'O') yes - global economies come crashing down this year...not a doubt in my mind.

[Roccland]

$this->bbcode_second_pass_quote('Daculling', '')$this->bbcode_second_pass_quote('Ludi', '')$this->bbcode_second_pass_quote('Roccland', 'O') yes - global economies come crashing down this year...not a doubt in my mind.

[Roccland]

Ghost Towns Appear in Spain as Decade-Long Boom Ends

Phoenix Crash

[PraiseDoom]

$this->bbcode_second_pass_quote('Roccland', '[')url=http://www.bloomberg.com/apps/news?pid=20601109&sid=ar3L878k5YM4&refer=home]Ghost Towns Appear in Spain as Decade-Long Boom Ends[/url]

Phoenix Crash

[I_Like_Plants]

Wow. I was out in Spain in 1994. Spain is old and brown. Lots of history in that place. I saw lots of billboards for their car, the "Seat" (pronounced see-at I think) and things seemed to be pretty healthy, economically from what I could see. There was also an election and political graffitti around, that was fresh.

Spain has a pretty low "standard of living" compared to the US, but I think the "standard of life" is much better - notice the couple in the story are able to live in a place owned by relatives, in the US it would be Fuck You, Losers.

[NotMyBlood]

in the US it would be Fuck You, Losers.

So true; The attitude in just about every dimension of life in America is that way. Every man , woman and child for themselves. And if you find someone knocking at your door/email/phone telling you they can make it all better for a small fee, run!! run as fast as you can.

[Wednesday]

$this->bbcode_second_pass_quote('NEOPO', 'T')here is no one way.

If you really care you will drop the reality bombs every time you get the chance and even if it does result in alienation.

[Roccland]

Why a Housing Recovery Is Far Off

$this->bbcode_second_pass_quote('', '
')The key problem now is not the level of nominal mortgage rates, which are not particularly high by the standards of the past decade. Instead, buyers are backing off because the real mortgage rate has rocketed and continues to rise. At the peak of the boom, people essentially were being paid to buy a home. The average 30-year fixed mortgage rate in 2005 was a tax-deductible 5.9%. The Office of Federal Housing Enterprise Oversight says that home prices rose 10.7% that year.


As long as buyers expected prices to keep rising, the implied real mortgage rate -- home-price increase minus mortgage-interest rate -- was minus 4.8%. This was an enormous incentive to borrow heavily to buy real estate. Result: a bubble.


But recently, the average 30-year mortgage rate was 6.5%, so with home prices up just 3%, real mortgage rates are now 3.5%. And with most potential buyers well aware of the huge excess supply of homes, there's no reason to expect prices to rebound soon. A reasonable person might expect them to fall further, boosting the real mortgage rate further.

[Roccland]

Each abandoned house is $20,000 in lost taxes and utilities

Hmmmmmmmmmmm...and money for street repairs and fuel for school buses will come from where?

[PraiseDoom]

$this->bbcode_second_pass_quote('Roccland', '[')url=http://www.canada.com/nationalpost/financialpost/printedition/story.html?id=de2edb54-e0e3-4d6c-a129-afd55c6bd9d2]Each abandoned house is $20,000 in lost taxes and utilities[/url]

Hmmmmmmmmmmm...and money for street repairs and fuel for school buses will come from where?

[Roccland]

$this->bbcode_second_pass_quote('PraiseDoom', '')$this->bbcode_second_pass_quote('Roccland', '[')url=http://www.canada.com/nationalpost/financialpost/printedition/story.html?id=de2edb54-e0e3-4d6c-a129-afd55c6bd9d2]Each abandoned house is $20,000 in lost taxes and utilities[/url]

Hmmmmmmmmmmm...and money for street repairs and fuel for school buses will come from where?

[I_Like_Plants]

Considering the haughty attitude of all these types who feel they're rich because they "own" a house, yeah, pass the popcorn.

[deMolay]

You can make money in a crash. You can ride it up or ride it down. Stay liquid.

[I_Like_Plants]

Not liquid at all here ..... good advice though, it's how the rich skimmed everyone else's cream during the last Great Depression.

When you got nothing, work on developing SKILLS.

Just like Don Lancaster said, the most high-energy thing there is is pure information.

[PraiseDoom]

$this->bbcode_second_pass_quote('deMolay', 'Y')ou can make money in a crash. You can ride it up or ride it down. Stay liquid.

[Roccland]

Another Alt A goes belly up...link

[Roccland]

Indy Mac on the skids

$this->bbcode_second_pass_quote('', 'F')or investors in IndyMac Bancorp (IMB), here's the good news: the mortgage lender handles hardly any subprime loans. Defaults on the risky mortgages have skyrocketed, killing off a few of IndyMac's rivals. And Bear Stearns reported that its two hedge funds that held subprime mortgage debt were virtually worthless.

The bad news for IndyMac: The subprime crisis is spreading to other kinds of debt.

On Wednesday, IndyMac's stock fell 5.5% to $27.45. A downgrade by a Lehman Brothers analyst exacerbated worries that have sent the stock falling almost 40% so far this year.

[Roccland]

link

$this->bbcode_second_pass_quote('', '`')`We are experiencing home price depreciation almost like never before, with the exception of the Great Depression,'' Mozilo said during the call.

[roccman]

Hmmm...

700billion...800billion

whatz 100billion amoung friends.