Pent up demand

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  • Number of U.S. Homes With Negative Equity Is Stunning
    "The losses the banks will take holding the real estate will far outpace whatever diminished losses they take on a reworked mortgage."

    Says you. Banks need cashflow like any other business. I find it doubtful that they can hope to restructure so many loans without starving for cash. As Jolly_Rancher said, anyway you want to slice it, a lot of the banks are dead men walking. Restructuring only changes rate at which they bleed out.

    I agree that many defaulters are going to stay in "their" homes if only because there will be nobody from the bank/sheriff etc. to kick them out. But they will be reduced to being de facto squatters with no ability to show clear title or borrow against the property. Just like a lot of third world countries. Good job America!
    Nov 13 09:54 am |Rating: 0 0 |Link to Comment |View article
  • Subprime Write-Downs More Than 50% Done? Write-Ups Coming Next?
    Tony Soprano has been all over this site pumping stocks. Yeah, a negative consensus is a buy signal - except when it isn't.

    This thing has been spun from day one as a subprime problem. That is what they are feeding the masses. As freedomrenter says, who cares if they wrote the subprime down to zero. Only after the Alt-A, option-ARM, and HELOC losses been counted will I think about becoming a buyer. In the meantime I stay in cash and watch my insurance policy (commodities) pay off, and keep my powder dry.
    Mar 14 11:44 am |Rating: 0 0 |Link to Comment |View article

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