Archive for the 'bailout' Category

Countrywide and Pay Option ARMs on trial – The most toxic mortgage ever invented by mankind is now under trial by the SEC with Countrywide.


Los Angeles County real estate values overpriced by 30 percent after adjusting for inflation. Data from 2000 to 2010 and looking at Burbank, Pasadena, Culver City, Beverly Hills, and Santa Monica.


FHA has become the new toxic lender of first resort – 4 out of 10 loans made in expensive Southern California are FHA backed. FHA now backing apartments in Manhattan with a price tag of $820,000 to $3 million with a 3.5 percent down payment.


There will be no U.S. economic recovery in the second half of 2010 – 13 charts showing weak housing trends, option ARM data, dramatic employment changes, and mortgage equity withdrawals.


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