Well it’s been another miserable week for housing according to media sources nationwide. Thanks to Reno Ignoramus for most of these… The slide continues.
Valuing a property when sales slide. read
Does your house own you? read
If you could see what I see. read
Nothing down can be a gamble. read
Sacramento builder surplus. read
Even in Connecticut. read
The janitor and his palace. read
Investors head for the hills. read
Foreclosures spike in August. read
NAR predicts a limited fall. read
Tips for buyers entering emerging buyer markets. read
How to prevent foreclosure. read
Housing bubble through the looking glass. read
And last, but not least… From Real Trends: "More than half (59 percent) of lenders predict their financial institution will see a softening in its loan portfolio in the next six to 12 months, and an additional 27 percent anticipate a portfolio deterioration in 12 to 24 months, according to this quarter’s Phoenix Management Services ‘Lending Climate in America’ Survey. Phoenix is an advisory firm providing turnaround, crisis and interim management and investment banking services to middle-market companies in transition.
In anticipation of the market downturn, 43 percent of lenders said their lending institution would likely allocate additional resources to distressed portfolio management in the coming 18 months. However, 56 percent predicted no change in their financial institution’s allocation of resources for loan workout efforts. "
Reno Ignoramus
“We know that the housing boom will inevitably be followed by a bust, and…we know that leaves the consumer exposed to perhaps a long period of balance sheet repair. We believe that home prices have become so far out of whack that it could take several years before prices realign themselves.”
Merrill Lynch
September 18, 2006
Reno Ignoramus
“Housing prices and spending usually only begins to be impacted six to nine months after housing peaks and we beleive we are not near the worse yet.”
Credit Suisse Bank
September 18, 2006