meta99's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/264765/comments http://seekingalpha.com/article/117576/comments?source=feed#comment-372919 372919 Sun, 01 Feb 2009 23:42:50 -0500 http://seekingalpha.com/article/117602/comments?source=feed#comment-372894 372894

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]]> http://seekingalpha.com/article/117602/comments?source=feed#comment-372881 372881 Sun, 01 Feb 2009 22:57:12 -0500 http://seekingalpha.com/article/96430/comments?source=feed#comment-260354 260354 Great commentary..... keep up the good stuff. One more point from my last post; So far the ONLY indication of what this stuff is worth is the sale of the Merrill Lynch assets to a hedge fund for 20 cents on the dollar. Lehman had so much toxic waste that no one would buy them despite some very valuable properties and an alleged book value in excess of $20 per share. So realistically, how can these mortgages be anywhere close to what J Livermoor suggested above?]]> Sat, 20 Sep 2008 22:10:13 -0400 Great commentary..... keep up the good stuff. One more point from my last post; So far the ONLY indication of what this stuff is worth is the sale of the Merrill Lynch assets to a hedge fund for 20 cents on the dollar. Lehman had so much toxic waste that no one would buy them despite some very valuable properties and an alleged book value in excess of $20 per share. So realistically, how can these mortgages be anywhere close to what J Livermoor suggested above?]]> http://seekingalpha.com/article/96430/comments?source=feed#comment-260353 260353 HIstorically home prices appreciated about 4% per year for the 50 years leading up to 1995. From 1995 to 2005 home prices appreciated about 8% per year, nationally. That means that home prices appreciated about twice the norm, and in 2005 they were 40% overvalued. Allowing for some inflation in the past 3 years, if home prices corrected 30% or so they would be close to fair value.
However, this only represents PROPERTY VALUE. THe mortgages that the Fed would buy are the JUNK class, usually overly indebted stuff that no one wants, many of whom were written far in excess of the actual underlying value, so cut that 70% in half.... that gives you 35 cents on the dollar. Merrill sold some of this junk for 20 cents on the dollar.....granted that was a distressed price. My guess is that the fair vlaue of this toxic waste is between 25-35 cents on the dollar. Hopefully there will be buyers for this crap but it sure won't be anything I'll put my money into.]]> Sat, 20 Sep 2008 22:04:44 -0400 HIstorically home prices appreciated about 4% per year for the 50 years leading up to 1995. From 1995 to 2005 home prices appreciated about 8% per year, nationally. That means that home prices appreciated about twice the norm, and in 2005 they were 40% overvalued. Allowing for some inflation in the past 3 years, if home prices corrected 30% or so they would be close to fair value.
However, this only represents PROPERTY VALUE. THe mortgages that the Fed would buy are the JUNK class, usually overly indebted stuff that no one wants, many of whom were written far in excess of the actual underlying value, so cut that 70% in half.... that gives you 35 cents on the dollar. Merrill sold some of this junk for 20 cents on the dollar.....granted that was a distressed price. My guess is that the fair vlaue of this toxic waste is between 25-35 cents on the dollar. Hopefully there will be buyers for this crap but it sure won't be anything I'll put my money into.]]> http://seekingalpha.com/article/95803/comments?source=feed#comment-257586 257586 Wed, 17 Sep 2008 22:35:13 -0400 http://seekingalpha.com/article/59551/comments?source=feed#comment-257573 257573 Wed, 17 Sep 2008 22:07:58 -0400