Archive for the 'wall street' 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.


The fallacy of cheap home prices and the two income trap – dual income households underscore massive housing inflation. Nationwide home prices overvalued by 25 percent.


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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