spillover: Even More Spillover...Target Corp? - 09/28/07 12:02 PM
Today's Bloomberg news reported that profits in the US may grow at the slowest rate in more than 5 years because of the housing slump. The article quotes Timothy Ghriskey, a large asset management officer, as saying "The consumer is feeling the impact of lower housing prices. Any consumer discretionary industry … (5 comments)
spillover: Like Water over the Falls...Spillover - 09/24/07 12:06 PM
Ahhh...behold the falls of Idaho Falls. See the water SPILLING OVER? In some areas it flows over at a very rapid pace (and as an aside generates significant hydropower), and in other areas it just trickles. Got me thinking about the subprime mess. In the beginning there was talk of "containment" … (1 comments)
spillover: More Mortgage Layoffs - 09/06/07 12:31 PM
According to this CNNMoney.com article, Lehman Brothers is laying off 850 people as part of its mortgage business "downscaling". See http://money.cnn.com/2007/09/06/news/companies/lehman_mortgage.ap/index.htm?postversion=2007090613. This news comes after Lehman announed the closing of its subprime subsidiary which resulted in another 1,200 layoffs. Rumors of layoffs at Citi and Countrywide and others have been circulating … (1 comments)
spillover: Even in England! - 08/30/07 03:07 PM
The US subprime market isn't just spilling over, it's rippling all the way across the sea to London. The Guardian reported today that the pound took a fall because a major bank had been forced to borrow $1.6 billion pounds to "see it through a cash-flow problem related to the US sub-prime … (3 comments)
spillover: No Spillover - 08/21/07 05:43 PM
One of the funniest things about "experts" and journalists is their propensity for speculation couched as certainty. For example, the numerous references to "containment" of the mortgage crisis and the certainty that there would be "no spillover". Take, for example, the amazingly ignorant statement from Ben Bernanke when he said "we … (0 comments)
spillover: Must Read on Market Conditions - 06/11/07 02:55 PM
I highly recommend the following article. Here's the teaser paragraph: "Two days, two economic forecasts; the first which we reported on earlier from the National Association of Realtors (NAR) showed a rapid deterioration in the confidence that association's economic advisors have in the near future of the housing industry. Now we have … (0 comments)
spillover: Spillover...does Wall Street Count? - 06/06/07 04:25 PM
In my last post about the housing slump continuing, I quoted from the Fed Chief saying (once again) that the spillover from the housing slump is not spilling over into other areas of the economy. Than along comes CNNMoney with a headline "Wall Street walloped, again" and an intro paragraph that … (1 comments)
spillover: Spillover! Not it's even hitting Mexico! - 05/29/07 05:53 PM
Not long ago, experts and pundits were suggesting that the subprime meltdown was contained. It's now widely accepted that the subprime meltdown has reduced the number of qualified and/or potential buyers, which means fewer sales. While this isn't the sole cause of the stalled housing market, it's definitely a contributing factor.And … (0 comments)
Business advice and useful information. Not always "on point" with mortgage lending or real estate...but that's BIG business, and knowing how to operate effectively is critical to success.
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Today's Bloomberg news reported that profits in the US may grow at the slowest rate in more than 5 years because of the housing slump. The article quotes Timothy Ghriskey, a large asset management officer, as saying "The consumer is feeling the impact of lower housing prices. Any consumer discretionary industry … (5 comments)
