Tweet
http://money.cnn.com/2007/05/07/news...ion=2007050714
Ok.. here's the "flag" of a heavyhitter caught in the current Mortgage meltdown; pushing the red button folks. Me smells the Beltway has been courting the Bankers out of the woodwork..ala.. early 1930's!!!!
I dunno how much more of an indication we need than to see these "free" Mortgages with NO underpinning PMI to support. BoA is up to their eyeballs
in this. They are playing the Prime's will hold up, in the hope values do not continue invert and they too hand in the keys..
Vain hope!!!!! You'll be seeing BoA on the Implode-O-Meter faster than many expect. Go short, young man..go short (Put Options please..thank you)!!
Take a look at the well known Lendrons already being imploded and you can add the entire Puget Sound area soon. I'm there.. I see the hundreds of unfinished carcasses and FSBO signs everywhere.
Now they are HOPING to Rent at the cost of the re-sets upcomming.. next the "homeowers" will be pinned to leasing at LESS than the Monthly and attepting to fill in the remaining Money Pit with whatever the Credit Cards max is. Rents alone have dropped $200, $300 a month from the $1500/$1700 of a year ago.
For one I'm a Goldbug...long awaited for a repeat of 1980-1981. I think not long before this goes father than even the oldsters have been expecting. Hold on to your hats kiddies..it's going to be one hell of a ride.
Ok.. here's the "flag" of a heavyhitter caught in the current Mortgage meltdown; pushing the red button folks. Me smells the Beltway has been courting the Bankers out of the woodwork..ala.. early 1930's!!!!
I dunno how much more of an indication we need than to see these "free" Mortgages with NO underpinning PMI to support. BoA is up to their eyeballs
in this. They are playing the Prime's will hold up, in the hope values do not continue invert and they too hand in the keys..
Vain hope!!!!! You'll be seeing BoA on the Implode-O-Meter faster than many expect. Go short, young man..go short (Put Options please..thank you)!!
Take a look at the well known Lendrons already being imploded and you can add the entire Puget Sound area soon. I'm there.. I see the hundreds of unfinished carcasses and FSBO signs everywhere.
Now they are HOPING to Rent at the cost of the re-sets upcomming.. next the "homeowers" will be pinned to leasing at LESS than the Monthly and attepting to fill in the remaining Money Pit with whatever the Credit Cards max is. Rents alone have dropped $200, $300 a month from the $1500/$1700 of a year ago.
For one I'm a Goldbug...long awaited for a repeat of 1980-1981. I think not long before this goes father than even the oldsters have been expecting. Hold on to your hats kiddies..it's going to be one hell of a ride.