The Crack of Doom – Week of May 28, 2007

It’s a quiet holiday Monday at Doom Castle, and most of us are out enjoying the nice weather, baseball, stock car racing, anything but housing and mortgage finance.  We’ll just be in and out, but the Reply window is always open.  As soon as something interesting pops up this week, we’d love to hear about it.

The markets will be in full flight again on Tuesday, and perhaps the S&P record will fall in the next few days.  Who knows what the story of this next week will be?

As always, this post is for you.  :)

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19 Comments for this entry

  1. Home Construction Bust May Last Until 2011, U.S. Builders Say

    this is the same guy that said just 18 month ago there wion´t be problems……

    http://www.bloomberg.com/apps/news?pid=20601087&sid=aKQoeHb1MraI&refer=home

  2. John M. says:

    twist -

    This just in. Any guesses which development this is?

    “U.S. Home Construction Bust May Last Until 2011″, by Bob Ivry and Brian Louis, Bloomberg, May 29, 2007.

    Atlanta-based Beazer Homes USA Inc. was offering houses in the first quarter at a development about 44 miles outside Phoenix, Arizona, for $136,990, down 36 percent from the year- earlier price of $215,490, said Samantha Morris, senior consultant in Houston-based Metrostudy’s Mesa, Arizona, office.

  3. peter schiff on chinas stock market / bloomberg interview

    this interview was shot yesterday before the 7% plunge just after the Chinese announced the trading tax increase…. the interview is more about the yuan and how the $ is toast… nice rant

    http://tinyurl.com/2rora8

  4. A financial lesson from the jungle / a must see clip!!!!!!!!

    http://investmentpostcards.wordpress.com/2007/05/28/a-financial-lesson-from-the-jungle/

    hat tip to barry ritholtz

  5. John M. says:

    Jan-Martin (comment #15) -

    Looks like our brothers to the South could use a bit of disengagement too.

  6. Luminent Mortgage Capital Provides Seasoned Loan Level Credit Performance Relative to Alt-A Industry Metrics

    hat tip aaron

    http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/05-29-2007/0004597077&EDATE=

  7. John M. says:

    Jan-Martin (comment #17) -

    Doom was actually first up with Luminent’s extraordinary press release. Aaron’s Implode-O-Meter team spent a considerable time analyzing the amazing comparison charts of Alt-A industry delinquency experience before deciding to post the link. Here’s their take …

    2007-05-30: Under Alt-A’s SkirtThis Luminent offering report gives a snapshot of the condition of most of the major players in the secondary market. Of note: Lehman and Bear Stearns rank at the top of hybrid Alt-A delinquencies with numbers in the range of 7-9%, and Countrywide tops out pay option Alt-A delinquencies with just over 2% (remember these are loans people don’t have to fully pay each month!)

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