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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 (68646)	8/23/2006 9:01:46 AM
From: Paul Kern	Read Replies (1) \| Respond to of 110194

Bit of a refi boomlet getting underway. But new apps are down. *DJ US MBA Purchase Index Falls 1% To 382.2 From 385.9

To: russwinter who wrote (68646)	8/23/2006 12:13:14 PM
From: CalculatedRisk	Read Replies (1) \| Respond to of 110194

Professor Roubini: "The Biggest Slump in US Housing in the Last 40 Years"…or 53 Years? rgemonitor.com Conclusion: "So, the simple conclusion from the analysis above is that this is indeed the biggest housing slump in the last four or five decades: every housing indictor is in free fall, including now housing prices. By itself this slump is enough to trigger a US recession: its effects on real residential investment, wealth and consumption, and employment will be more severe than the tech bust that triggered the 2001 recession. And on top of the housing bust, US consumers are facing oil above $70, the delayed effects of rising Fed Fund and long term rates, falling real wages, negative savings, high debt ratios and higher and higher debt servicing ratios. This is the tipping point for the US consumer and the effects will be ugly. Expect the great recession of 2007 to be much nastier, deeper and more protracted than the 2001 recession."