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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (87091)8/25/2007 9:44:04 PM
From: Sr KRead Replies (1) | Respond to of 306849
 
That's U.S. single-family residential mortgage debt.

Here's another.

Inside the Countrywide Lending Spree

By GRETCHEN MORGENSON
Published: August 26, 2007

ON its way to becoming the nation’s largest mortgage lender, the Countrywide Financial Corporation encouraged its sales force to court customers over the telephone with a seductive pitch that seldom varied. “I want to be sure you are getting the best loan possible,” the sales representatives would say.

[5 pages]

nytimes.com



To: Les H who wrote (87091)8/26/2007 4:23:52 PM
From: MulhollandDriveRespond to of 306849
 
He said the root cause of the deleveraging “is that investors believe the collateral has been impaired, since they expect home prices to decline materially over the next year.”

bingo.

and how is the fed supposed to fix that?

convince investors to buy crap because the carry cost is less?

yeah, that works.....cheap borrowing will stimulate a flood of credit for declining assets

NOT


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