It looks like the current wave of mortgage refinancings has run its course, following on the heels of an unprecedented boom in home ownership, mortgage lending, and home equity withdrawals. In Y2K, on average, home equity actually DECLINED, despite record home ownership! Now with unemployment rising and news of new layoffs rolling in almost daily, a crucial question is in the air. Are we on the cusp of an unprecedented bust in housing prices and home lending defaults?
The real estate bust index was created to help us find exciting new, err, opportunities in the coming market debacle (or just allow us to hedge whatever real estate we may currently own against a collapse in prices).
Got FNM puts?<g>
(Photo courtesy of bubblemeter.blogspot.com
Housing bubble primer:
en.wikipedia.org
Calculated Risk's Blog (lots of useful housing charts):
calculatedrisk.blogspot.com
Sign here to protest the bailout of mortgage lenders and scofflaws!
petitiononline.com
Home real estate valuator (for entertainment purposes only!):
zillow.com
Sacramento flippers in trouble (latest listings of flipper losses in Sacto):
flippersintrouble.blogspot.com
Major lender REO lists:
Bank of America:
bankofamerica.reo.com
Chase REO's:
mortgage02.chase.com
Coldwell Banker:
reoexperts.net
Countrywide:
countrywide.com
Downey Savings & Loan:
downeysavings.com
HSBC:
banking.us.hsbc.com
Wells Fargo:
premierereo.com. |
