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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: CalculatedRisk who wrote (15939)6/27/2004 6:32:25 PM
From: ild  Read Replies (1) of 110194
 
I don't like big short interest in builders. Also I think this is mostly financial bubble so I'm short MTG/RDN/PMI/CFC/NCEN.

There is a big push in subprime lending. So Cal has a huge population of recent immigrants who now have the ability to buy their first house despite not having good credit and/or good income. Unfortunately for them they now have to pay insane price for a starter homes. Many of them work in construction, so a RE slowdown may be a double whammy for some.
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