You mention that bloomberg free trial more often than Cramer mentions Goldman. Why don't you post some more screenshots?
Hi krazykarl - Can you give more details about your loan, such as reset conditions, principal amount, current payments, etc...? Thanks
Hahaha what ever you say, trial indeed, and hey they gave me realtime data to. And my trial has now lasted all year weeeee
but from what levels: http://online.wsj.com/public/resources/documents/info-Delinquency0704-sort.html I agree with minimi that subprime <i>issue</i> will simply go away - of course only after the weakest hands are shaken off...
I have noticed the crys becoming louder, the subprime crisis may pull us into a recession is becoming louder, it seems the more data that comes out supporting inflation and a possible rate increase, the press try to keep this subprime issue front and center. Its just cover for the fed, wall street controls the feds every move it seems.
In hot areas like san diego, 265% increase YOY in foreclosures. The majority of loans were ARM + interest only. Given that were a consumer state, and everyone is spending every dime on their mortgage, how could it NOT affect the economy? Things are going to get worse, not better for a while. We are still 2-3 deviations out of historical whack. Something has to give. Median income here is 65K Median detached home in 800K Less than 5% of people can afford a home. How is the richest 5% going to push home prices up alone??? We wont see real new highs for a decade at least.
With full employment and sub 6% 30 year fixed financing housing should be going through the roof. House prices are way too high for the entry level buyer and until there is a market for them to buy into housing will be down. John
Yes, if no one can afford these prices, housing goes nowhere. Salaries have to catch up, and we know that aint gonna happen since everything is leaving the country. Offshoring = stagnant salaries. Real Estate is local, even within an area. Its amazing to see housing price appreciation range from +4% to -40% and worse.
Salaries can still catch up due to inflation as long as the effect of inflation pulls more weight than offshoring. My opinion is that most of the offshoring that can be done is being done, but inflation is just starting... Housing prices will continued to be justified and will start to rise due to the eroding dollar and build costs. That is what I believe. SM