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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: RealMuLan who wrote (64978)	4/2/2007 5:01:33 PM
From: RealMuLan	Read Replies (1) of 116555

Bleak Housing News businessweek.com Here's another reason to get antsy about real estate. Banks and investors in the mortgage-backed securities industry are increasingly worried that the troubles in the subprime market will spread to higher-quality home loans. In a survey of expected attendees at the upcoming Spring ABS Show (for asset backed securitization), some 87% of respondents said recent subprime woes would have at least a "partial impact" on the performance of the broader market for mortgages and mortgage-backed securities. More than 50% of the loan issuers and mortgage investors surveyed expect the ABX index, a benchmark for subprime performance, will trend lower in April. Adding to the pessimism, about two-thirds say they don't view the current sell-off as a buying opportunity, and about three-quarters said they expect median home prices to decline for the rest of the year. About half felt proposals to tighten subprime lending standards could help shore up the market. By Elizabeth Woyke

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