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Strategies & Market Trends : Waiting for the big Kahuna

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To: Bonnie Bear who wrote (9650)	11/13/1997 8:19:00 PM
From: Mark Nelson	Read Replies (1) of 94695

Interesting news (again from Hong Kong): (from Goldman Sachs, no less) Default warning amid erosion in property values <clip> "The report said that at present mortgage rates, households spend up to 73 per cent of their monthly post-tax incomes on mortgage payments. It warned that if the mortgage rates were to increase to 15.7 per cent, payments would equal 100 per cent of post-tax incomes." <clip> scmp.com It also goes on to say that "one-third of outstanding mortgage loans taken out since May - worth $134 billion - could drop to zero or negative equity against a backdrop of rising interest rates and declining property values, raising the possibility of widespread loan defaults." ***************** This is starting to sound serious. <vb BWDIK> Onward.. Mark

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