DrStool Posted January 22, 2008 Report Posted January 22, 2008 Wow, look at those dung piles. Both bull and bear.
Private Skidmark Posted January 22, 2008 Report Posted January 22, 2008 HUI closes at the highs. Up over 8% from its low for the day.
Jimi Posted January 22, 2008 Report Posted January 22, 2008 PST SAN FRANCISCO -- Foreclosures and default notices skyrocketed to record peaks in California and the Bay Area in the fourth quarter of 2007, according to a report released Tuesday. The information was a fresh reminder that the slumping real estate market is continuing to have a serious impact on homeowners, particularly those with risky subprime mortgages. Lenders repossessed 31,676 residences in California in the October-November-December period, according to DataQuick Information Systems, a La Jolla research firm. That was a dramatic 421.2 percent increase from 6,078 in the year-ago quarter. In the Bay Area, foreclosures rose an equally stunning 482.5 percent to 4,573 in the fourth quarter, compared with 785 a year ago. Contra Costa County, with 1,558 foreclosures, up 533.3 percent from a year ago, had the most, followed by Alameda County with 1,026 (a 514.4 percent increase) and Solano County with 704 (up 528.6 percent). "Foreclosure activity is closely tied to a decline in home values," DataQuick President Marshall Prentice said in a statement. "With today's depreciation, an increasing number of homeowners find themselves owing more on a property than its market value, setting the stage for default if there is mortgage payment shock, a job loss or the owner needs to move." http://www.sfgate.com/cgi-bin/article.cgi?...UJN7I.DTL&tsp=1
ChicagoBear Posted January 22, 2008 Report Posted January 22, 2008 Beautiful! $10b and 75 bps and we end the day down. Added to RIO short in last 15 minutes. Today was a victory for bears.
Lesser Fool Posted January 22, 2008 Report Posted January 22, 2008 Is there a historical precedent where the Fed cut loose a big one, with the implied promise of more, and still the markets tanked?
Mies van der Rump Posted January 22, 2008 Report Posted January 22, 2008 Insana is BEGGING for bailout of MBI/AMBAC..he looks, well, weepy. I wonder if his fund is imploding.
Charmin Posted January 22, 2008 Report Posted January 22, 2008 HUI closes at the highs. Up over 8% from its low for the day. 639449[/snapback]
elh Posted January 22, 2008 Report Posted January 22, 2008 I think you all just witnessed blackmail. These assholes could have sold off in an orderly way, but they decided to trigger a crisis to get what they wanted with a lower rate cut. That's my story, and I'm sticking to it.
cwd Posted January 22, 2008 Report Posted January 22, 2008 Insana is BEGGING for bailout of MBI/AMBAC..he looks, well, weepy. I wonder if his fund is imploding. 639455[/snapback] At least some of his BUDs' funds are.
joe3pack Posted January 22, 2008 Report Posted January 22, 2008 bullvision, in the last hour, had a caption indicating "buying opportunity." but they forgot to tell me when to eat, sheet, and breathe.
mdporter Posted January 22, 2008 Report Posted January 22, 2008 PST SAN FRANCISCO -- Foreclosures and default notices skyrocketed to record peaks in California and the Bay Area in the fourth quarter of 2007, according to a report released Tuesday. The information was a fresh reminder that the slumping real estate market is continuing to have a serious impact on homeowners, particularly those with risky subprime mortgages. Lenders repossessed 31,676 residences in California in the October-November-December period, according to DataQuick Information Systems, a La Jolla research firm. That was a dramatic 421.2 percent increase from 6,078 in the year-ago quarter. In the Bay Area, foreclosures rose an equally stunning 482.5 percent to 4,573 in the fourth quarter, compared with 785 a year ago. Contra Costa County, with 1,558 foreclosures, up 533.3 percent from a year ago, had the most, followed by Alameda County with 1,026 (a 514.4 percent increase) and Solano County with 704 (up 528.6 percent). "Foreclosure activity is closely tied to a decline in home values," DataQuick President Marshall Prentice said in a statement. "With today's depreciation, an increasing number of homeowners find themselves owing more on a property than its market value, setting the stage for default if there is mortgage payment shock, a job loss or the owner needs to move." http://www.sfgate.com/cgi-bin/article.cgi?...UJN7I.DTL&tsp=1 639451[/snapback] In Campbell CA I am starting to see the marginal borrowers blow up and are trying to sell their homes. This is going to be an interesting selling season coming up. Silicon Valley has been pretty strong but the cracks are starting to show up everywhere.
joe3pack Posted January 22, 2008 Report Posted January 22, 2008 instead of lowering interest rates to zillo or close to zillo, why not lower them to sub-zillo? that way the banks would have a legal right to extract money from your account every day of the year. solvency problems (well, the pigmen's, anyway) solved!
Mies van der Rump Posted January 22, 2008 Report Posted January 22, 2008 AAPL meets/beats but warns for Q2. Edit: guiding down by 500 to 750 million depending on anal cyst estimate
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