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existing home sales: Half of all U.S. Mortgages Underwater by 2011? - 08/06/09 09:12 AM
Reuters reports that Deutche Bank projects that about half of all U.S. mortgages will exceed the value of the collateral - homes - securing those loans by 2011.  Half.
That is a shocking projection that has some pretty terrible implications for our economy.  First, if you think that there are a lot of foreclosures now, just wait until half of American homeowners wake up and realize that they owe more on their homes than their home is worth.  Couple that with high unemployment and you have a recipe for a Super Tsunami of foreclosures.
Throw another news item in the mix … (0 comments)

existing home sales: Existing Home Sales Numbers - JUMP - 01/26/09 12:26 PM
I have been writing for some time that if the government DOES NOTHING then home sales will rebound on their own and that we are poised for a housing recovering beginning in June of 2009.  Well, I was wrong.  I was off by several months.
 Existing home sales rose by the SECOND BIGGEST MONTHLY GAIN - ever (well, O.K. - since they began keeping records in 1999).  The jump nationwide was 6.5% led by the west (up 14.5%) and the south (7.4%).  Significantly, existing home inventories fell to 9.3 months.
 In my last email, I wrote that it was inevitable that … (2 comments)

 
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Brian M. Dubuc

Marietta, GA

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Dubuc and Associates, LLC

Address: 3225 Shallowford Road, N.E., Suite 1200, Marietta, GA, 30062

Office Phone: (770) 509-6565

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