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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (29875)	4/2/2005 10:53:51 AM
From: orkrious	Read Replies (2) \| Respond to of 110194

I can tell you w/o a doubt that the RE bubble has burst in the Detroit area. My stepson is getting married this summer and he has been all geeked to buy a house and get in on the action. the kid just graduated from law school last june and passed the bar, but he can't find a job. unlike his brother in a similar situation (getting married this summer, done with law school six months later than his brother, can't find a job), I think I've convinced him not to buy. last night my wife (who's a lifelong realtor) looked through the Multiple Listing Service for condo rentals. it is filled with listings for condo that can't be sold. people are desperate. rents are certainly less than the carrying costs of the condos.

To: russwinter who wrote (29875)	4/2/2005 4:11:05 PM
From: John Vosilla	Respond to of 110194

Then when you look at one of the more egregious speculative markets, downtown San Diego, you can see the new listings, inventory build ups and early 05 price reductions, and suddenly in weeks 10-12, a surge in pending transactions Lending institutions doing portfolio loans on those 90% plus LTV for investor loans on these condos seem to be at great risk. Have any names? I'm in the process of going through public records in some very bubbily Florida counties for just that. BankUnited has popped up a lot so far.