“No question that the bottom of the market hasn’t hit yet.” – Esmael Adibi, Economist, Chapman University in Orange County “I think we’re going to be dealing with this all the way through 2008.” – Jack Haynes, Executive Vice President,…
It’s the poster child for the entire housing bubble. There’ll be some other spectacular blowups, but this will be at the top of the pecking order. – Daniel Alpert, Managing Partner, Westwood Capital The fact that they have given the…
“I sensed trouble when a homeless man told me he was studying for his real estate license.” – Peter Hong, “How We Cashed In Before The Housing Crash”, The Los Angeles Times, January 20, 2008 “Don’t believe the hype!” –…
One place to start is the Federal Housing Administration, the nation’s insurer of nearly $750 billion in outstanding mortgages. The agency acknowledged this month that a new but still undisclosed HUD audit has found that FHA’s cash reserve fund is…
“Even a small loss evokes a sense of frustration. There’s something magical about ‘at least breaking even’.” – David Laibson, Behaviorial Economist, quoted in “Be It Ever So Illogical: Homeowners Who Won’t Cut the Price” , The New York Times, March 26 Read…
The S&P closed Thursday only a few points shy of a new All Time High. With Futures currently in positive territory, it appears the market will make another run at it Friday. While everyone loves a bull market, there are…