This is stock-taking week at Housing Doom. Twist will have her computer shut down all day, while I’ll be checking in only rarely. We’ve laid down a paper trail of 16 months worth of posts and commentary, documenting statistical trends in SW American cities and looking under the covers into various aspects of real estate marketing and mortgage finance. While neither of us had any training in RE or banking, many of Doom’s commenters and informants did, and we were most pleased to act as a way for them to communicate with the rest of our vibrant community. Many readers have found Housing Doom helpful over the last while, and we hope we’ve been of service. The times are changing, and Doom will need to evolve to keep up with them. Your feedback at this time is vital.
In any case, the week’s beginning should be a bit calm — it’s the 515th Columbus Day, celebrated a bit early this year, and in Canada Thanksgiving. This blogger will be busy basting turkey most of Monday.
Meanwhile, if you discover something interesting in the horizon, let our readers know! Igor still lurks by the Reply window 24/7, and he is always eager to chew over your latest finds.
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Captive bidding at the auction: How bond vigilantism was swamped
http://www.itulip.com/forums/showthread.php?p=17184#post17184
Thanks Jan-Martin, that was a big piece of the puzzle I have never heard of before.
Moin TC,
iTulip rocks
When you read this it makes the guys buying 10 year or 30 year bonds even more look like complete fools…..
A Bank Bet on Condos, but Buyers Want Out
http://www.nytimes.com/2007/10/09/business/09corus.html?_r=1&ref=business&oref=slogin
U.S. Stock Market Stumble Presaged by S&P 500 Options
King Suggests He Won’t Reduce Rate to Shield Banks
Goldman:Aug level 3 asset value $72.05B, 7% of total
Mortgage Turmoil Hits Renters
http://online.wsj.com/article/SB119206052887155348.html?mod=mktw
Jan-Martin-
That is the down side of being a renter now. So many landlords have been willing to be cash negative on their properties, believing that the market will turn quickly. When they give up on that belief, many just stop paying. It’s hardest for the “Rent-to-own” crowd, they frequently have made larger deposits and pay more rent, thinking the property will become theirs.
At least here, notice of the trustee’s sale is posted to the front door indicating the house will be foreclosed on in 90 days. That gives renters a few months warning, anyway.
Moin Twist,
maybe they can rent some from Countrywide….
Countrywide Says Bad Mortgages Rise, New Loans Fall