“And what is the Fed’s core purpose? When last we left off with the Fed its big concern was warding off inflation. If you think we have foreclosure problems now, you’ll look at this period as the “good old days” should serious levels of inflation take hold.”
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“”Not so fast,” Frederick Cannon, an analyst at Keefe, Bruyette & Woods, said in a research note yesterday, predicting that the stock will “underperform” the market. Because investors have grown so jumpy about the surge in defaults on mortgages, lenders like Countrywide can no longer fund themselves with short-term borrowings in the capital markets, such as by issuing commercial paper”
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Just a quick note that I finally have some audio up on the web for the blogging workshop I spoke at last month. It’s an hour on how lenderama got started, and how you can do it as well.Share This
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Gotta love the “not quite as horrible as subprime” assurances. We note however that much commercial is really founded upon consumer retail strength — not a pillar we’d want to be leaning upon right about now. Also, you might want to ignore the commercial RE price index that only goes back to 2002 and is supposed to demonstrate that there is no commercial price bubble. Or at least take it with a generous lump of salt.
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” The California housing market will continue to slow next year, with house prices falling 4 percent, and 9 percent fewer houses changing hands, said an economist for a real estate tradegroup in a forecast delivered recently.”
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The post includes a chart of “pro forma” vs. actual DTI (for subprime lending) that must be seen to be believed.
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“Merrill Lynch & Co. ousted Stan O’Neal as chairman and chief executive officer and said it will begin a search for his successor, leaving the world’s biggest brokerage without a leader.”
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LONDON FTSE 100 CLOSE 6,706.0 +44.7 SHARES in the London market held firm above the 6,700 mark yesterday as hopes of a cut in US interest rates offset falls in the housebuilding sector. via Scotsman.com
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“Banks shut out of the market for short-term loans are finding salvation in a government lending program set up to revive housing during the Great Depression.”
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