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

To: patron_anejo_por_favor who wrote (92623)	10/22/2007 3:36:50 PM
From: Drygulch Dan	Read Replies (1) \| Respond to of 306849

Hey Patron, Is this a good time to pick up a McMansion on 5 acres in Nevada ? Thinking Carson valley ?

To: patron_anejo_por_favor who wrote (92623)	10/22/2007 3:51:54 PM
From: CalculatedRisk	Read Replies (2) \| Respond to of 306849

Apparently a number of lender REOs are on fire in San Diego. On a more serious note, some of my friends in San Diego were evacuated. They don't know about their house yet, but they saw - on the news - that their next door neighbor's house burned down (NG). Best to all. Stay safe.

To: patron_anejo_por_favor who wrote (92623)	10/22/2007 3:52:32 PM
From: MulhollandDrive	Respond to of 306849

thanks! i recommended your post <gg> without buyers for this crap, wonder how long 'til the housing market actually seizes up (love the tepid headline....weak? comatose is more like it) forbes.com Mortgage-Backed Securities Volume Weak Associated Press 10.22.07, 2:30 PM ET NEW YORK - Issuance of securities backed by subprime mortgages and home equity loans remains weak compared to recent history, as rising delinquencies and defaults among the loans continue to drag down the market. Through Oct. 19, monthly issuance of subprime mortgage and home equity loan-backed securities totaled $2.65 billion, a 94 percent decline from total volume in October 2006, according to JPMorgan Chase & Co. Investors have shied away from purchasing the securities, as the loans pooled together to back them have gone increasingly delinquent and into default in recent months. Because of the lack of investors, mortgage lenders have scaled back their originations of the loans, further depressing the market. Since July 1 when the market began its rapid deterioration, only $12.36 billion in securities backed by the risky loans have been issued, according to JPMorgan Chase. That is about 60 percent less than the total volume in June alone. A look at some more key data about the asset-backed securities market: _ Through Oct. 19, $213.18 billion in subprime and home equity loan-backed securities were sold during the year. That is a 53 percent decline from the same time a year ago. _ On top of the steep decline, the mortgage-backed securities are accounting for less of the overall asset-backed securities market. Subprime and home equity loan-backed securities accounted for 44 percent of total asset-backed securities volume as of Oct. 19, down from 64 percent at the same time a year ago, according to JPMorgan Chase. Other securities backed by assets such as credit cards and auto loans, as well as foreign-issued securities, have all accounted for more of the total securities volume in 2007. _ Not one subprime mortgage-backed or home equity loan-backed security was issued during the week ending Oct. 19. Copyright 2007 Associated Press. All rights reserved. This material may not be published broadcast, rewritten, or redistributed