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

To: Elroy Jetson who wrote (140699)	8/12/2008 2:42:11 PM
From: MulhollandDrive	Read Replies (2) \| Respond to of 306849

thank you... Each one will almost certainly become a foreclosure. . heard more happy talk this a.m. from a new york housing official (don't remember his designation) his point was if you are underwater, don't worry, be happy, enjoy your house...houses aren't 'investments'....stay the course...helpful stuff for people who cannot make their payments or must sell out of necessity

To: Elroy Jetson who wrote (140699)	8/12/2008 3:26:33 PM
From: Jim McMannis	Respond to of 306849

Helocs man. They Hemlocked 'em.

To: Elroy Jetson who wrote (140699)	8/13/2008 11:34:16 AM
From: Jim McMannis	Respond to of 306849

Aussie Bank to Bring America’s Biggest Bankers to Their Knees? thetrumpet.com With American banks already in trouble, an Australian bank made matters worse—by telling the truth! By Robert Morley July 25 was a particularly bad day for Australia’s four biggest banking stocks. In a matter of hours, $16.2 billion in stockholder value was erased from existence—the worst fall since Black Monday in October 1987. Investors jumped ship following the decision by the National Australia Bank to take a 90 percent write-down on a chunk of mortgage-backed assets that were supposedly aaa-rated. Yet, the full implications of the announcement were largely missed by the media. To them, July 25 was just one more bad day in a bad year in which Australian financial stocks ground lower and lower. The “aaa” assets in question were bundles of U.S. mortgages that National Australia Bank (nab) had purchased for around $1.2 billion prior to the U.S. real-estate and lending bubble bust. The problem with the mortgages arose after American home valuations plunged and homeowners began defaulting on their mortgages in record numbers. All of a sudden, the market for mortgage-backed investments dried up, and no one wanted to buy the formerly triple-A-rated securities anymore. So the accounting question that American banks faced was: What is a bundle of