Housing Doom Housing Bubble Blog

I never suspected when we opened the doors here at Housingdoom what an overwhelming response we would have.  Back here behind the homepage, we get to see all the traffic, the links to the site, and some wonderful email- it makes our efforts here worthwhile.

The only one who hasn’t appreciated all the traffic is our poor old server, who was quite frankly, feeling overwhelmed.  Our response time had gotten miserably slow.  Tech support moved us to a new server Sunday night, which has helped speed things up considerably.  The only problem is, some comments seemed to have been dropped into the void between the two hosts.

I’m aware of some of the dropped comments, as I usually receive a notification in my email, telling me when someone has posted a comment.  (Not always- the ways of the site do occasionally baffle me.)

Our apologies if yours is one of the comments that dropped into cyberspace.  I hope to rescue the ones I know of.  With luck we have transitioned completely now, and it doesn’t happen again.  If your comments disappear- please email me at twist@housingdoom.com.

Thank you again for your continued support. 

 Debi AKA Twist

It has become clear to many stakeholders in the housing industry that the five fat years of the housing bubble have now ended, and will be followed by five or so lean years of steadily retreating house prices. They are radically changing their posture and reconfiguring themselves for hard times. Last Thursday and Friday it was revealed that Mortgage Industry Companies of America (MICA), the private providers of US mortgage insurance, had become alarmed by the situation and were pleading with regulators to rein in risky mortgages. In a letter [1] to the FDIC, the Fed, the Comptroller of the Currency, and the Office of Thrift Supervision, MICA called for a return to sanity in mortgage lending markets. Here’s a key phrase as quoted in the Washington Post article [2] that broke the story.

“‘We are deeply concerned about the potential contagion effect from poorly underwritten or unsuitable mortgages and home equity loans,’ Suzanne C. Hutchinson, executive vice president of the Mortgage Insurance Companies of America, wrote in a recent letter to regulators. ‘. . . The most recent market trends show alarming signs of undue risk-taking that puts both lenders and consumers at risk.’”

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