By: Chris

Chris — Fri, 07 Aug 2009 02:41:27 +0000

Chris,
Are you dense or dumb?…read my opening quote and the rest of the post for that matter: “The industry is still badly beaten and I do not own shares in any of the companies listed and I don’t plan to buy any time soon.”

By: Chris

Chris — Thu, 06 Aug 2009 15:22:06 +0000

You must be dreaming… here’s the latest from Deutsche Bank there’s only one direction houseing’s going and everything else with it.
NEW YORK (Reuters) – The percentage of U.S. homeowners who owe more than their house is worth will nearly double to 48 percent in 2011 from 26 percent at the end of March, portending another blow to the housing market, Deutsche Bank said on Wednesday.
Home price declines will have their biggest impact on prime “conforming” loans that meet underwriting and size guidelines of Fannie Mae and Freddie Mac, the bank said in a report. Prime conforming loans make up two-thirds of mortgages, and are typically less risky because of stringent requirements.
“We project the next phase of the housing decline will have a far greater impact on prime borrowers,” Deutsche analysts Karen Weaver and Ying Shen said in the report.
Of prime conforming loans, 41 percent will be “underwater” by the first quarter of 2011, up from 16 percent at the end of the first quarter 2009, it said. Forty-six percent of prime jumbo loans will be larger than their properties’ value, up from 29 percent, it said.
Of option adjustable-rate mortgages — which cut payments by allowing principal balances to rise — 89 percent will be underwater in 2011, up from 77 percent, the report said.

Comments on: Home Builders Update

By: Chris

By: Chris