6 replies to this topic

[pdx5]

Scroll down to see the list of lenders gone bankrupt.

http://ml-implode.com/

[dasein]

Scroll down to see the list of lenders gone bankrupt.

http://ml-implode.com/

thanks - lots of interesting links there, too

klh

[U.F.O.]

There are probably 25,000 mortgage lenders in the U.S., including third party lenders. Eleven (11) go down and that's a big deal? That's lower than the normal attrition rate for a 1 month period. If you're looking for a housing "crash" nationwide.....it ain't happening yet. U.F.O.

[pdx5]

I can't find the words "crash" or "nationwide" in my post. The web site looked interesting to me and I put it out there for whoever is interested. Make your own conclusions without getting hostile. And I don't think there ever has been a "crash" in the housing that I know of anyways. To me a crash is something akin to what happened in 1987 in the stock market. We are only experiencing a "contraction/ stagnation" in house values. The only question is how long will it continue. The jury is still out on that.

[U.F.O.]

pdx5. Here's the headline of your link:

Latest count of US Mortgage lenders that have croaked since about Dec 2006

You don't have to comment to express opinion. If I posted a link that headlined "THE WORLD IS ENDING" with no comment at all, what would you opine my opinion on the subject was? A reasonable person would say that I agreed 100% with the subject matter of my chosen link. "If you link it.....without contradictory comment.....you think it". IMO.....as always.

U.F.O.

[pdx5]

Without nit picking, my headline was trying to duplicate what the web site is trying to portray. I believe if I am going to give you a web address to link to, I should give you a fair representation of what the web site is all about. Again, I am NOT predicting a CRASH in housing. Especially NOT nationally. What I do expect will happen is house prices will stay stagnant or go down a few percentage points. In the meanwhile as people's earnings go up, eventually the stagnant prices will be again close to the norm of historical affordability index.

[OEXCHAOS]

That was essentially my position on P/E's in 2000-2001. In fact, I had a long talk with Carl Swenlin about just that. I was right (at least so far) and I think you'll be right too, with some regional anomalies (e.g. serious weakness in some locales due to lay localized economic problems feeding upon themselves). Most people don't have to sell their house and trade up. Even if they want to, many are sitting on their hands for now. As long as they keep doing that, it's going to be tough for those who want to sell. Sooner or later, though, the populace will get bored with the angst and the nesting instincts will take over and the market will pick up nicely. In the mean time, I'll bet the beneficiary will be the stock market, corrections notwithstanding. Mark