Rocktex

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    • Thu Dec 13th 11:31 AM | Rating: 0 0
      Commented on:
      Wednesday's Fed Action: Perfect, Helpful to Housing
      On the surface, you sounds right.

      However, I believe the main purpose of the 4 auctions target at inflation and eventually bring down (or more correctly "regulate") the international liquidity. In other words, it is to reduce availability of "private" money infusion from a "soevereign fund" or "Middle East investor" to those speculative fund managers collectively.
      The result? To keep avoid possible recession and help all the sectors of Economics ,except housing. Let's housing dust settled by itself naturely.
      View article »
    • Wed Dec 12th 14:36 PM | Rating: 0 0
      Commented on:
      The Government's Subprime 'Bailout' Plan Will Kill the Housing Market
      To SawnIsis,

      It is wrong, wrong, wrong to interpret that way.

      Can you see anyone not involved in forming the dumb "plans" saying those plans will work? Almost everyone with reason know they won't change the fate. If it is true, there is no real impact on the reality, right? So look at it with a different perspective.

      It is clear that housing market in some areas are "dead," i.e. without normal market function. If it was dead, how could we "kill" something dead again?

      In a broader sense of macroeconomics, a "dead" is just like a winter or a trough. There is still an ivisible hand, there is an opportunity for you to profit, it as long as you can realize it in a distressed market.

      Good luck!
      View article »
    • Wed Dec 12th 01:13 AM | Rating: 0 0
      Commented on:
      Freddie, Fannie to Cut Back on Delinquent Loan Purchases
      Now, we can see it almost clear that politicians are ready to "hands off" until "the dust rests."

      Unless Mr. Mozilo of CFC could force and raise the conventional loan limit up to $680K, I could not believe there is a possibility for political socialism to intervene in the sector.

      So far I have enjoyed all the great shows those politicians performed and I believe they are smart actors. That gives me a strong belief: We USA is a great country, a capitalist enterprise system is going to stay, indeed.

      The smoky show is over this year. Hope you guys also enjoy the housing bubble "politics" TV soap show series (maybe, there is a Rocky II coming up next year?).

      Great for all of us! We are still a FREE country.

      p.s. Who is the winner in th financial sector so far? Good question! Think it deeply and smarter to go short or buy when it hit bottom.

      So far, I have never bought a stock so that I have no interest in any fat cat.
      View article »
    • Tue Dec 11th 23:20 PM | Rating: 0 0
      Commented on:
      Another Fantasyland Call from the NAR
      To NARSpin,
      Gee! You are so great to use "boy who cried wolf."
      It is understood that Yun has no choice but "crying." No body will listen to him except a dumb or ET from Mars!
      View article »
    • Mon Dec 10th 22:34 PM | Rating: 0 0
      Commented on:
      There Goes Delta Financial, Now How Safe is Countrywide?
      Sorry, there is a typo.
      $680 should be $680K.
      View article »
    • Mon Dec 10th 19:33 PM | Rating: 0 0
      Commented on:
      There Goes Delta Financial, Now How Safe is Countrywide?
      To WakeUP:
      It it nothing to do with justice or punishment.
      See, here comes the best words in the last part of the article "Job cuts in mortgage lending surpass 80,000" (www.inman.com/hstory.a...)

      “Ironically, while the financial sector has been under fire in recent months, CEO departures have fallen, demonstrating how insulated these executives remain from the credit crisis that has resulted in thousands of job cuts since August," Challenger said.

      There is a vested interest group that others can't do nothing about it.

      If Mozilo of CFC can have what he wants to raise conventional loan amount to $680, believe me CFC will be the winner.

      Go long for CFC!

      p.s. I have never bought any stock until today, let alone an interest in CFC.

      View article »
    • Mon Dec 10th 14:02 PM | Rating: 0 0
      Commented on:
      Fed Will Cut 25bp
      To CrossPoint,
      I am with you to some degree.
      From the basics of Economics, there is no need to cut interest rate as the most of general economic indexs are good.
      The November job report is unexpectedly a upswing. The inflation is steadily up too. If we follow the fundamentals, we should hike the rate as the mechanisim dictates.

      View article »
    • Mon Dec 10th 13:45 PM | Rating: 0 0
      Commented on:
      Real Estate IPO: Iggy's House
      Personally I really don't see a good business plan for Iggy's house. They didn't fully see the marketing niche the cyberspace has brought to us, let alone to catch it.

      Their expected performance seems to be mainly based on an assumption: "commission cut" will attract more customers that means to cut its profit expands its market share.

      It sounds to give a buyer savings in its perspective, but it looks dumb to me from the other perspective. Why you have to do your job by cutting your profit? As a businessman, I believe that's not the way to do business. In the long run, you can't survive.

      Why you don't go out to get more benefits to give to the buyer and, in return, a buyer is willing to give you the commission as well as an extra bonus. That means you will earn more than your deserved "commission"...

      I have observed so many web sites, including NAR's site that is the worst program, not so surprised to me. Some websites are really good at coping with new techonolgy and earn its extra profit at no expense of buyers. Some are using new tech to paint a useless fancy web, but lost its commercial application to profit.

      Well, hope IGGY a good luck with its plain plan to compete with others.

      View article »
    • Mon Dec 10th 13:10 PM | Rating: 0 0
      Commented on:
      There Goes Delta Financial, Now How Safe is Countrywide?
      Ooh! Good post.
      How come you forgot to mention how much FHLB, Atlanta gave $36 Billions against CFC's 70% ABS?
      My interpretation is CFC is transforming into the 4th GSE. I don't see any possibility that CFC is going to BK unless FED is ready to be seem to have a clear position: the taxpayer is the final victiom to pick up the check for the dinner.
      Yes, it is still possible for CFC to drop its shoes as DFC. C is a junk level, but still better than D, right?
      View article »
    • Sun Dec 9th 11:46 AM | Rating: 0 0
      Commented on:
      The Government's Subprime 'Bailout' Plan Will Kill the Housing Market
      Very good presentation!
      Just reminds me of one concept in Economics: Utility, a satisfaction factor to a buyer.
      Just also reminds me of one vital fact in real estate: a residence is not only an investment, but a personal pleasure.
      Yes, most people in USA is accustomed to enjoy everything NOW so that we have a sale pitch: “buy it now and pay later.” It is a big difference between the rich and the poor. The rich do save and invest appreciating things, the poor spend and enjoy depreciating luxury.
      That’s our current culture those “freeze loan” programs count on. They want those subprime loan borrowers enjoy the satisfaction of home ownership and pay more later in order to keep the junk loan look good as performing assets in their books.
      But, there is a problem. Davy didn’t make it clear here. Subprime loans are just a small part of this bubble. Not only the major portion of subprime loans are left out. But also, there are more big mess coming from other primes loans, such as Alt-A loan, Option ARM. Those loans are not a subject to be rescued from those “freeze” plans. Then, what could happen?
      The housing market is definitely fallen if we can't stop other non-freeze houses going to foreclosure. At this moment of writing, a steep discount of more than 45% are seem in some area. If you bought a house for $600K and the current value is $350K, will you say to yourself: “it worth owning. I am not willing to sacrifice my credit and dream home”?
      I doubt you are so smart and arrogant!
      View article »
    • Sat Dec 8th 11:12 AM | Rating: 0 0
      Commented on:
      The Government's Subprime 'Bailout' Plan Will Kill the Housing Market
      Good point?
      Paying a low interest rate is sure a GOOD thing if we assume housing price IS recovered. But, there is a sophiscated catch?
      Only a fool will argue with you that Californian housing price is never going BEYOND the peak of 2006. Sure, it will with help of inflation in the long run. Maybe it will when the owner dies at age of 65, or 100?
      Good assumption to say you are right? But wait, there is a sophiscated catch I don't understand?
      When it is going to recovered? With a negative amortization in the freeze plan, the loan principal keeps growing. I believe in the current situation, are you sure the subprime owner will have his home valued at the end of 5 years, more than what it is worth now?
      Yes, a subprime loan owner will choose to stay if his payment is equal or lower than the local rent to take the advantage of housing subsidy.
      But it is true the payment & other housing costs are lower than the rent? Not likely in California as I know.
      Then what's the point to keep his house by paying more money every month and paying even more loan amount in the end? I am too fool to see your arguement valid.

      O
      View article »
    • Sat Dec 8th 10:53 AM | Rating: 0 0
      Commented on:
      The Government's Subprime 'Bailout' Plan Will Kill the Housing Market
      Good point?
      Good, it tells the same scenario as we did to finance, re-finance and re-finance to a 3rd poor country who is always in default. That means the country gets a new loan to pay a old one. The people in the 3rd world is getting poorer and the anti-America imperialism aversion is growing.
      Sure, we can't send a troop to collect the debt. Neither the debt is paid.
      Do you think that will happen to our citizen in Cali?
      View article »
    • Fri Dec 7th 22:53 PM | Rating: 0 0
      Commented on:
      The Government's Subprime 'Bailout' Plan Will Kill the Housing Market
      To Davy,
      The job is well-done. You are very honest to present your viewpoint and give out a practical solution.
      However, so many people won't look at the truth and react to the reality accordingly. That's why a scam works: to give people a dream!
      In front of God, we the human being's power is so small to defend us from Katrina.
      In front of Adam Smith's "a invisible hand," what the freeze plans can accomplish? Hot money & economic activities are globalized. And the world is changing at a remarkable speed, how can we "stop" at a point of time?
      US government is so powerful that can do some fine tune to the economy as we do to a airconditioner in a house. But can we deal with Katrina? Can we fine tune the globe's four seasons?
      I pray our government can be humble and let Adam's invisible hand do the job. That's will shorten our pain and heal it naturally.
      View article »
    • Fri Dec 7th 22:36 PM | Rating: 0 0
      Commented on:
      The Government's Subprime 'Bailout' Plan Will Kill the Housing Market
      To tkap:
      Here is an article talking about theory and practice of foreclosure for your reference. Foreclosure Outcome in TD States (Not for Mortgage State) activerain.com/blogs/r...

      Your opinion is much welcome.
      View article »
    • Thu Dec 6th 12:43 PM | Rating: 0 0
      Commented on:
      Paulson's Plan is Nothing but Lip Service
      To you, law student:
      Theory is theory, Practice is a reality. Here is my answer for your reference:
      Foreclosure Outcome in TD States (Not for Mortgage State) activerain.com/blogsvi...
      View article »
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