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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: orkrious who wrote (50199)1/19/2006 9:36:03 AM
From: russwinter  Read Replies (3) of 110194
 
The problem is that as long as FCBs are subsidizing agencies without asking obvious questions,
Message 22075703
there is always a Humpty somewhere to buy another unit as a "rental" or second home or some other BS. That allows the builders to work off these inventories. Since that's the case, the real story needs to shift to the speculator (and the holder (Asian FCBs?) )of his mortgage, who is cash flow negative, and dealing (delinquencies?)with the increasing expense of carrying these speculations.
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