By Mike Colpitts and Everett Jones Credit crisis losses are nearing $8-trillion worldwide as a result of unscrupulous lending by mortgage companies, banks and newly developed instruments on Wall Street to resell the mortgages as securities to investors, a Housing Predictor investigation has revealed. As President Bush signs the Housing Bill sent by Congress into… Continue reading False Hopes Hang on Bail Out in Housing Crisis
Category: Banks
Banks are Nuts
By Tony Evans Im talking banks here, folks. I hate to pick on the Golden State of California, but when Governor Arnold Schwarzenegger thinks about sucker-punching the lottery to try and save the state from the same fate that befell the city of Vallejo in Northern Cal think bankruptcy. I kinda shook my head. But… Continue reading Banks are Nuts
Banking Trickery Exposed
By Tony Evans Years ago in a movie about the oil industry titled “The Formula” I recall a classic line. George C. Scott and Marlon Brando starred in the movie. Brandos character ran an oil trading business. As Scott was leaving Brando’s office, he turned and said, “You’re not in the oil business. You’re in… Continue reading Banking Trickery Exposed
Credit Card Hustle
By Tony Evans Checked your credit card statement that came in the mail lately? If you’re like many credit card holders you haven’t unless you’ve heard the news. Wait a minute. Look closely. Hold it! Let me get my magnifying glass .. Ah ha There it is. The rate increase nobody told us about in mice print hidden… Continue reading Credit Card Hustle
Lending on Steroids Triggers Bigger Bust
By Mike Colpitts Editor As the nations real estate crisis worsens beyond what once seemed unimaginable, a new Housing Predictor analysis shows that the crisis will deflate the value of U.S. homes in the majority of the country between 55 and 70% on average from the markets highest peaks. The amount of deflation depends on… Continue reading Lending on Steroids Triggers Bigger Bust
Most Affordable Housing Markets
Affordable housing means different things and depends mainly where you live in the country since housing prices vary considerably from one place to another. The markets chosen to be on the Housing Predictor Most Affordable Markets list for 2008 are urban areas that have a greater likelihood of appreciation over the next two years with… Continue reading Most Affordable Housing Markets
Deep Discounts Offered on New Homes
By David Wilkening One of the most common phrases you hear goes like this: “Its a great time to buy:” (a) a new paved driveway for your house; (b) a new car; (c) a new home. You will certainly be skeptical of the first two answers and also the third. If you hear (c) from… Continue reading Deep Discounts Offered on New Homes
Getting Back into Home Ownership
Part II By Tony Evans Those of you looking to improve your credit standing to get back in the housing game should be on second base having already mailed your letter to the credit agencies, which will be placed in your file. If you’re still sitting on the bench, Coach Buzzz says “You won’t get… Continue reading Getting Back into Home Ownership
Hedge Funds Buying Mortgages Again
Betting Markets to Hit Bottom By David Wilkening It is sometimes called “opportunity investing,” or to put it more bluntly, vulture capital. In a possible sign that the housing market has reached its bottom, hedge funds are circling. This development is somewhat unusual in part because hedge funds have been famous for making many executives… Continue reading Hedge Funds Buying Mortgages Again
Feeding the Real Estate Frenzy
By Kayce Boulyn Just a couple years ago when real estate sales were “hot” nearly everybody and his brother wanted to get in on the action, many giving up their “day jobs” to start a new path on the road to riches. Feeding the real estate frenzy were a variety of cable TV shows focused… Continue reading Feeding the Real Estate Frenzy