January 30, 2008
- Home Builders Surge, But Overbought in Short Term; Top Play Remains NVR
Several weeks ago on December 7th, I first wrote that the home builder stocks appeared to be close to a bottom, but that they weren’t quite out of the woods yet (based on the continued downtrend of the home builder ETF’s and the lack of insider buying). There is also the lingering danger of news [...]
More on this topic (What's this?)Home Builders Cut Off the Cash (Wealth Daily, 2/13/08)The Time for 500% Gains Has Finally Arrived (Contrarian Profits, 4/9/08)The future of Folsom (The Mess That Greenspan Made, 1/16/08)Reality Check: What’s Really Wrong With Homebuilder Stocks? (Blue Grass Portfolio, 8/19/10) - FBI Investigates 14 In Mortgage Industry
This news isn’t all that surprising . After all bubbles create greed and greed creates criminals , so it’s just a matter of time before the prison parade begins. Deja vu.
The FBI isn’t disclosing which companies are under investigation but undoubtedly some big, recognized names are in this group. The investigation began in spring of [...]More on this topic (What's this?)Could Millions of Homes Be Foreclosure Proof? (naked capitalism, 8/20/10)California to Keep Low Rates for Mortgage Borrowers (naked capitalism, 11/20/07)Investment Banks and Hedge Funds : The Wolves : Zero Sum Game part II (Personal Finance Blog | FlipSide..., 11/17/07)Financial stocks (All Allan, 8/18/10)
January 27, 2008
- Subprime Mortage Meltdown on 60 Minutes
Just thought I’d pass this along. 60 minutes takes a look at Stockton, California and how the subprime mess has affected homeowners there. Yeah we’re all a bit tired of hearing about it but might be worth checking out. It airs at 7PM EST/PST. Here’s the teaser video.
August 20, 2007
- More Subprime Fallout: Greenpoint Mortgage Gone
Another mortgage company casualty after the bell today announced by Capital One (COF) during their earnings report. In addition to cutting its earnings forecast from $7.15 to $5/share, COF announced that they would eliminate their Greenpoint mortgage unit (the 7th largest Alt A lender) and eliminate 1900 jobs. According to the WSJ, Capital One bought Greenpoint, [...]
More on this topic (What's this?)More Extend and Pretend: HUD Offers $1 Billion of Subprime Teaser Loans (naked capitalism, 8/11/10)Could Millions of Homes Be Foreclosure Proof? (naked capitalism, 8/20/10)Stop Trading with Cramer (Wealth Daily, 7/12/10)Bookkeeping: Closing Capital One Financial (COF) (Fund my Mutual Fund, 6/4/10) - What’s Different About This Housing Market Meltdown
Below is a reprint of an excellent article by Daily Wealth detailing the unraveling of the housing market.
What Caused the Housing Bust
By Porter Stansberry
August 18, 2007
Reprinted with permission by DailyWealth
Today, we take a break from our normal format to answer in detail a question regarding the current housing problem that must be on the minds [...]More on this topic (What's this?)New Push to Prop Up Housing Market via Mass Refis? (naked capitalism, 8/2/10)Whitney, Ritholtz Issue Bearish Calls on Housing Market (naked capitalism, 6/28/10)No Wonder Home Sales Are Plummeting: Look Who Was Buying (Phil’s Stock World - Members S..., 7/26/10)Used Home Sales at a 3-Month Low (Wealth Daily, 7/22/10)
