Countrywide / Bank of America REOs Fall to February 2007 Levels [View article]
DuetscheBank research is estimating that half of all American MORTGAGEES will be underwater by 2011, as opposed to half of all homeowners. Obviously, the few that own their house outright cannot be underwater. The house cannot be worth less than nothing.
I found Tuesday to be a very difficult trading day. When bad news is released the market is "surprised", but if you give it a day, or even a few hours, that surprise becomes "it was already priced into the market, so no worries, buy stocks". This is the most schizophrenic situatin I have ever seen. Thanks for the recap, and for the heads-up on the refiners.
Countrywide / Bank of America REOs Fall to February 2007 Levels [View article]
www.reuters.com/articl...
Tuesday Roundup: Housing Starts Temper Market Enthusiasm [View article]
Thanks for the recap, and for the heads-up on the refiners.