The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Giordano Bruno who wrote (140936)	8/13/2008 3:15:02 PM
From: Smiling Bob	Read Replies (3) of 306849

Can't be blunter. They're saying the game is over. PPT, the only buyer left, is putting mkt in denial. - Merrill Chief Investment Strategist Richard Bernstein said investors are ``significantly underestimating'' the extent of the credit crisis. Guy Moszkowski, Merrill's top-rated analyst for securities firms, downgraded Morgan Stanley, Goldman Sachs Group Inc. and Lehman Brothers Holdings Inc., his firm's three biggest U.S. rivals, as well as Citigroup Inc., the largest U.S. bank. ``Conditions have deteriorated significantly from July,'' Moszkowski wrote in a note today. ``The typical summer slowdown has been exacerbated by renewed fear over credit, the direction of the economy, and home-price depreciation, along with the sudden about-face in the oil price and hedge-fund losses.''

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