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… And the only point I’d make is that in Europe, you’ve got banks in Europe have loans, something like $1.5 trillion to Eastern Europe. If you don’t solve that problem, you’re just going to have another subprime sort of problem in the global banking system, which is going to be the implosion of East Europe. … - Desmond Lachman Housing Doom is pleased to present the seventh and final installment of our unauthorized annotated transcript of the American Enterprise Institute’s March 17, 2009

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wrote an interesting post today on
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I have the heart of a trader. If you read Mortgage Rates Report , you know that I’m fascinated with the forces that make markets move up, down or not at all. One of the things I’ve noticed, since I started writing on Bloodhound Blog, is that the real estate industry is: very much protective of its sellers ( often to the detriment of the buyers ) unwilling to operate in a transparent marketplace. That lopsided opacity was the real reason for the eventual implosion of the real estate m

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Random Feed wrote an interesting post today on
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Zero accountability for out of bounds politicians The Republican ideological mania for mindless deregulation– supported by more than a few corporatist Democrats– is generally blamed, along with clueless Bush Regime mismanagement and unprecedented corruption, for the financial collapse that led the economy down the toilet. In his newest column, Reagan Did It , Paul Krugman does some forensic journalism and comes up with an exact time, place and culprit when everything began to go wrong. On O

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Random Feed wrote an interesting post today on
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The housing market in California is splintering into various broken segments. In one area, you have lower priced beaten down homes flying off the market like pancakes. Yet in these areas, you have to wonder what will happen once the major discounts and inventory run out? Next, you have mid-priced areas that are selling in low numbers but at relatively stable prices. This is the next market to tank because of the large amount of Alt-A and Pay Option ARMs hovering in those markets . These ar

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Random Feed wrote an interesting post today on
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Is That Recovery We See? April 10, 2009 By John Mauldin Is That Recovery We See? Those Wild and Crazy Analysts The Shadow Inventory of Homes Commercial Real Estate Starts a Long, Slow Slide P/E Ratios Go Negative! The Effect of Earnings Surprises Corporate Earnings and Recovery in Recessions The Implosion in Social Security > The market, we keep hearing and reading, is telling us that there is recovery around the corner. And pundits point to data that

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