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)RANDOM TRAVELING THOUGHTS (THE PRAGMATIC CAPITALIST, 12/30/09)NVR: Reason to be VERY Bearish (The Essentials of Trading, 5/21/08)Home Price Indexes Take Another Tumble (Index Universe, 12/26/07) - 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?)Is the US Reaching a Strategic Default Tipping Point? (naked capitalism, 2/3/10)Avoiding PMI With an 80/10/10 Mortgage (Richer by the Day, 1/29/08)Mortgage Lenders Aren't Gonna Take It...Anymore! (Blogging the Commodity Bull Market, 2/4/10)'You Cannot Buy Groceries with Your House' (Financial Armageddon, 2/3/10)
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?)Is the US Reaching a Strategic Default Tipping Point? (naked capitalism, 2/3/10)Capital One Financial Corp. (NYSE: COF): Q4 Earnings Preview 2009 (Stock Wizard, 1/15/10)Mortgage Lenders Aren't Gonna Take It...Anymore! (Blogging the Commodity Bull Market, 2/4/10)'You Cannot Buy Groceries with Your House' (Financial Armageddon, 2/3/10) - 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?)Even the Dead Cats Aren't Bouncing (Financial Armageddon, 3/2/10)CHART OF THE DAY: ARE HOME PRICES FALLING AGAIN? (THE PRAGMATIC CAPITALIST, 2/24/10)The Worst Is Not Over (Financial Armageddon, 1/2/10)Will the Homebuyer Credit be Extended Again Past April 2010? What about the $250 SSI Payment and ... (Saving to Invest, 3/5/10)
