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To: MythMan who wrote (244564)	6/9/2003 10:26:08 AM
From: Giordano Bruno	Read Replies (2) \| Respond to of 436258

Which ones do you like?

To: MythMan who wrote (244564)	6/9/2003 10:31:27 AM
From: yard_man	Read Replies (1) \| Respond to of 436258

I posted when I went short them ...

To: MythMan who wrote (244564)	6/9/2003 11:13:34 AM
From: Perspective	Read Replies (4) \| Respond to of 436258

I don't understand that one. Homebuilding will continue, albeit at reduced levels, as mortgage rates rise. However, the mortgage financing industry will virtually cease to exist when rates are allowed to turn up. That industry is running refis at levels 10-20x originations for actual real estate transactions. The industry has attracted the interest of virtually every large corporation on the planet (read massive overcapacity), and when rates rise, their business could easily fall 90%! They've actually been forced to drop some of their dirtiest (most profitable) scams as competition has risen, and with their underlying cost bloat, many of them will just go away. No industry is as vulnerable in the next few years as mortgage finance. BC