The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: orkrious who wrote (82312)	6/1/2007 12:08:19 PM
From: John Vosilla	Read Replies (2) of 110194

In the bubble markets 12-18 months ago a ton of investors were buying houses at the courthouse steps on tight margins so few became REO's. Now that they all see times are different and all have been burned on deals they won't step in anymore without significant discounts to even current lower values.. This magnifies the already grim situation of mounting defaults and upside down positions of borrowers as this continues to unfold.. You can pick up REO's in SW Florida at mid 2003 prices or over 45% drops from the top now.. And these are retail asking prices in MLS..

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