Speakeasy Posted April 12, 2007 Report Share Posted April 12, 2007 My take on Imus. He's definitely the rear end of the horse. Of course I can't stand Howard Stern either. Either one of them. 575734[/snapback] Ditto! Imus was really Stern's forerunner, the first shock jock character. Link to comment Share on other sites More sharing options...
Brisbane Bear Posted April 13, 2007 Report Share Posted April 13, 2007 build it and they will come..NOT!!!! Rates hit housing market HIA downgrades its housing outlook for NSW THE number of new homes being built in NSW will fall to levels last seen during the 1980s recession, because of the current interest rate environment, according to a housing industry report. Housing starts rose 5.3 per cent over the December quarter and over 2006 there were 31,241 dwelling commencements, according to the Housing Industry Association's March quarter national housing outlook survey. But a weak September quarter outcome, combined with a relatively weak December quarter recovery, has forced the HIA to downgrade its outlook for NSW. "Previously we forecast a 2 per cent fall for starts over 2006/07, but we have altered our view to a 7 per cent fall," the HIA said. Association chief economist Harley Dale said given the weak state of the new housing sector in NSW, the 5 per cent change is "not particularly significant". http://www.news.com.au/business/story/0,23...723-462,00.html Link to comment Share on other sites More sharing options...
Brisbane Bear Posted April 13, 2007 Report Share Posted April 13, 2007 THE GREAT PROBLEM FACING THE HOUSING INDUSTRY IS THAT HOUSE PRICES ARE TOO HIGH FOR ENTRY LEVEL BUYERS. ITS THAT SIMPLE. HOW COULD ANY YOUNG PERSON OR FIRST HOME BUYER POSSIBLY SAVE $40K,LET ALONE $80K. IMPOSSIBLE IN THIS DAY AND AGE,IT WOULD TAKE FOREVER. THE COST OF LIVING DOESN'T ALLOW IT. Link to comment Share on other sites More sharing options...
wndysrf Posted April 13, 2007 Author Report Share Posted April 13, 2007 Rates hit housing market THE number of new homes being built in NSW will fall to levels last seen during the 1980s recession, because of the current interest rate environment, according to a housing industry report. But a weak September quarter outcome, combined with a relatively weak December quarter recovery, has forced the HIA to downgrade its outlook for NSW. http://www.news.com.au/business/story/0,23...723-462,00.html 575736[/snapback] And of course, the "Orbs" sky on the open on the news.... Might as well announce that a full fledged depression is underway and millions are being foreclosed out of their homes. That should be good for another 1000 "Orbs" points. Link to comment Share on other sites More sharing options...
Brisbane Bear Posted April 13, 2007 Report Share Posted April 13, 2007 It is interesting to watch how the various interest groups start putting pressure on the Reserve bank to not raise rates. Everyone expected one in March but the Reserve bank blinked. Now everyone expects one in May,so the interest groups will start the drip,drip effect of putting intense pressure on the Reserve bankl chief. Link to comment Share on other sites More sharing options...
cwd Posted April 13, 2007 Report Share Posted April 13, 2007 Very funny. WM reports on Tuesday, right in the middle of OpEx Week. I'm mighty tempted to go long this tomorrow. Pays a 5.5% yield. Not bad.... Excerpts from Wall St. Journal: Puts Trade Heavily On Earnings Fears In Mortgage Sector By MOHAMMED HADI Concerned that next week's earnings reports will bring more bad news about the mortgage sector, traders sought protection from declines to come in shares of several banks. Trading was most notable in put options on Washington Mutual Inc., but also heavier than usual in puts on an index that tracks the performance of several commercial banks. A far heavier than usual 40,000 put options on Washington Mutual changed hands, according to Track Data, with traders targeting options that allow them to sell the company's stock for $37.50 and $35 in the next eight sessions. That occurred as the stock slipped 38 cents to $38.87. The volume was driven by traders adding "put spreads," said Stacey Briere Gilbert, chief options strategist at Susquehanna Financial Group. Put spreads are positions that profit from a decline in a stock to a certain point. The put spreads traded yesterday will be most profitable as Washington Mutual falls below $35. Washington Mutual is due to report quarterly results next Tuesday 575712[/snapback] Max pain on both puts and calls is 40, closed today at 38.90, so they have a week to jack it to 40. There are about 175k puts and calls. A 40 close wipes out about 85% of the open interest. The boyz win again. Link to comment Share on other sites More sharing options...
Brisbane Bear Posted April 13, 2007 Report Share Posted April 13, 2007 That should be good for another 1000 "Orbs" points. only a 1000??? Link to comment Share on other sites More sharing options...
Brisbane Bear Posted April 13, 2007 Report Share Posted April 13, 2007 this should be good for another 1000... HIGHER interest rates and record low housing affordability will prevent a recovery in the housing market unless the Federal Government acts urgently, according to the Housing Industry Association. Its latest report card came as figures from Insolvency and Trustee Service Australia showed that nationally 6585 people filed for bankruptcy in the March quarter, an increase of 9 per cent over the same period last year. Most of those filing for bankruptcy were individuals rather than businesses. http://www.theage.com.au/news/business/ban...5971264409.html Link to comment Share on other sites More sharing options...
prancing_cow Posted April 13, 2007 Report Share Posted April 13, 2007 Drano, I just checked what your favorite SRS - Proshares Ultra Real Estate - trades. almost no home builders - JOE - seems to be the only one. but they have trusts, hotels, resorts, real estate companies- VNO -and some mortgage companies. Link to comment Share on other sites More sharing options...
Drano Posted April 13, 2007 Report Share Posted April 13, 2007 Drano, I just checked what your favorite SRS - Proshares Ultra Real Estate - trades.almost no home builders - JOE - seems to be the only one. but they have trusts, hotels, resorts, real estate companies- VNO -and some mortgage companies. 575743[/snapback] Thanks, Prancer. The late lamented LeeWhee pointed out that they were mostly REITs but I didn't know about the mortgage companies. That's promising. Link to comment Share on other sites More sharing options...
Bungster Posted April 13, 2007 Report Share Posted April 13, 2007 Gene Inger.... whom I always thought of as a perma bull is still not convinced we have had a valid correction and sees more downside to come at some point. He is advising against anything but very short term longs...hum... http://www.decisionpoint.com/TAC/INGER.html Link to comment Share on other sites More sharing options...
Charmin Posted April 13, 2007 Report Share Posted April 13, 2007 Wow, up 14% today. 575709[/snapback] Buy Juniors like a drunken sailor Link to comment Share on other sites More sharing options...
DrStool Posted April 13, 2007 Report Share Posted April 13, 2007 Drano, I just checked what your favorite SRS - Proshares Ultra Real Estate - trades.almost no home builders - JOE - seems to be the only one. but they have trusts, hotels, resorts, real estate companies- VNO -and some mortgage companies. 575743[/snapback] Thanks, Prancer. The late lamented LeeWhee pointed out that they were mostly REITs but I didn't know about the mortgage companies. That's promising. 575744[/snapback] LeeWhee is neither late, nor lamented. He's just packing up to move to his new RENTED! house and will be mucho busy for the next several weeks. I did a podcast with him today which I hope to have posted late tonight. I've been extremely busy lately as my Mom's dementia has accelerated and I'm the only family member, caregiver/decision maker. It will be a couple of months before we have her situated for the summer, when we go up north. I do apologize for the late postings in the WSE Pro. I'd just like to say that helping my mother with the day to day things, ferrying her to the various doctors and therapy appointments, and learning how to help her through this transition, while saddening, has in some ways been uplifting for me. I have had to learn to see her, and myself, and my relationships with others in a different, and I think better way. Actually getting directly involved in helping her live her life to the best level that she can, is helping me to do the same with my own life. Perhaps those of you who have been through this with an aging parent can relate. Anyway, off topic. I do appreciate your patience and support as my family goes through this transition. I especially want to thank my wonderful wife, Danielle, who has been so supportive, patient, and understanding when I get a little crazy with everything. I couldn't do this without her. Anyway, life goes on. Link to comment Share on other sites More sharing options...
Drano Posted April 13, 2007 Report Share Posted April 13, 2007 Likewise, I hope that Potatohead's terrible experience will at least remind the rest of us what is important, and what is not. Link to comment Share on other sites More sharing options...
Whadda I Do Whadda I Do Posted April 13, 2007 Report Share Posted April 13, 2007 Not that is matters but Citicorp owns Washington Mutual who owns Long Beach Mortgage Company. Link to comment Share on other sites More sharing options...
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