Housing Doom Housing Bubble Blog

An article [1] in the print edition of The Economist (just posted today) cite’s Aaron’s group based in Atlanta GA. Here’s the nice little quote they gave Implode-O-Meter.

Why were investors so slow to react? It seems they have been consistently blindsided by how widespread the subprime problems have become—as well as complacent about the potential spillover into other areas of the debt markets.

At first, investors thought the subprime issue was confined to a few lenders, but the forthright website www.lenderimplode.com suggests that 97 of them have now been hit. Then they thought that defaults would be confined to a few states in the Midwest but the crisis has spread to heavily populated California and Florida.

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We get accused of being a little gloomy around here sometimes, so when I found this thread on Broker Outpost, I thought perhaps we could indulge in a little subprime humor.

"Dana Point" suggested a thread, You Know You’re Subprime When…, similar to Jeff Foxworthy’s You Know You’re a Redneck When…

Here’s some of my favorites that were posted: [With a little editing, and all parenthetical comments are original, not mine.]
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I can’t believe I am doing this.

I have steadfastly refused to link to Casey Serin’s website, Iamfacingforeclosure.com, as I hated sending him the traffic–  It just struck me as encouraging vice. I haven’t bothered dropping by either- what I know is due to updates from Doomers, and from members of my household who can’t resist the soap opera over there.

I was however, forwarded a Serin comment by E.A., that I could not let pass without mention.  So here it is- a link to yesterday’s post where Serin says [again] that he is giving up his blog.  It gets interesting down at comment #134 however, where Serin says:

Yes there is an FBI investigation as well. I just learned about it yesterday after I made the decision to shut everything down.

I’m not shutting down because of the FBI thing. The agent told me they don’t care if I keep blogging since they already have all the evidence they need, including the entire blog, loan documents, etc.

I just want to be careful what I say before I can find a criminal defense attorney and make sure I’m not doing anything stupid. [???????]

It kind of sucks that right when I decided to do the right thing now the law is after me too. But I guess we all knew this might happen. So its not a big surprise now.

I’ll just have to take responsibility and deal with it the best way I can.

NOW he decides to make sure he’s not doing anything stupid?
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