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To: SouthFloridaGuy who wrote (1490)	10/24/2007 12:17:36 PM
From: John Vosilla	Respond to of 1718

LIG the magnitude of the drops is based on neighborhood and property type.. Land constrained built out areas in FL mostly owner occupied not decimated by overbuilding and speculators are down similar to what you describe in the NY area..perhaps 15-25% at most. Worst hit overbuilt ground zero markets where the economy was too tied to housing are the ones off 50%+ with half the new homes sitting vacant without ability to even find a renter or end user buyers. Even in a place like Miami you would have to distinguish between the 100k+ new condos downtown versus the older tract homes in the suburbs. There were so many aspects to the housing bubble from the lax lending, to overvaluation, speculation, overbuilding, reset of PITI due to many factors. What we see is overbuilding and speculation as the biggest triggers to local crashes so far.. I guess this so because if you live in your house and have a job little has really changed other than ARM resets. As to when we hit bottom it will vary dramatically by area. I don't trust the stats by NAR or the Shiller Index. Just on CNBC it was reported that the NY metro area has continued to 'appreciate'. Mark Haines immediately dismissed it as nonsense for any place outside of Manhattan. Lots of mining of data, median prices not that helpful if the mix changes. You almost have to go get comps house by house in a particular neighborhood to get the real story and even then, especially in older areas with tons of renovation in recent years, that can be skewed<g> Which is why my examples of simple cookie cutter small almost new ranch homes in Florida tends to weed out all the noise as best as possible..

To: SouthFloridaGuy who wrote (1490)	10/24/2007 3:13:18 PM
From: Eddy Blinker	Read Replies (1) \| Respond to of 1718

MER ( Merrill Lynch ) < The primary drivers of the FICC net losses in the third quarter were: Write-downs of an estimated $4.5 billion, net of hedges, related to incremental third quarter market impact on the value of CDOs and sub-prime mortgages. Write-downs of an estimated $967 million on a gross basis, and $463 million net of related underwriting fees, related to all corporate and financial sponsor, non-investment grade lending commitments, regardless of the expected timing of funding or closing. > Connecting dots to incredible neglect and arrogance. A top trader for that company who was contacted upon friendly Irish intervention " to have a look at my new art of reading DATE, TIME OPEN, HIGH, LOW, CLOSE and VOLUME of traded financial instruments, remarked before the prime disaster struck our globe " Our company employs TOP NOTCH EINSTEIN Brains, Nobody can! WHO is he, anyways ? Trading Data transparency has absolutely nothing in common with predicting or forecasting tomorrow or after. With blinker5 technology in place that trader would get less Christmas Bonus - sure- but it would never have come to the $4.5 billion loss of his company. In the first place. WHY? Because all those Einstein Brains in HIGH FINANCE, employed by banks and financial institutions engineering and implementing those Wall Street computer software trading programs can not correlate US FED interest rates & YIELD factors when " Hedgers of size " are at work. For their employers & shareholders financial benefit sakes. ....................................................and prevent any party, spreading any type of technical news, which would lessen their own financial prosperity by one US $ .........cent.