Another Stock Is Hit In The Mortgage Sector
Another mortgage banking/financial holding company, R&G Financial Corporation (RGF), is seeing a big sell-off of its stock. Like Doral Financial, RGF is based in Puerto Rico.
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole. ATTENTION: Backup Blog at: http://thehousingbubble2.blogspot.com/
Saturday, April 09, 2005
Previous Posts
- "Sooner Or Later, It Is Going To End" In Arizona
- "Home Prices Drive Down Enrollment"
- Housing Costs Force Workers Off Island
- New Orders Slowing In The Southwest
- The Fed Is On The Hook For This One, Mr. Shiller
- Fanning The Flames In Denver
- RE Enforcer: Department Relies On Victims, Peers
- $80,000 Extra Interest Is "Godsend"
- Home Equity, Subprime Loans Surge At CFC
- 'Today in Real Estate', The Boom Will Be Televised
Links
- HOME
- 10 Year US Bond
- Fannie Mae
- National Mortgage News
- Origination News
- Demos
- Mortgage Bankers Assoc.
- OFHEO
- Center for Economic and Policy Research
- Fitch Ratings
- Realty Times
- Inman News
- US Treaasury
- BlogKits-Building Blog Relationships
- House Price Crash UK
- The Money Files
- San Diego Real Estate Chrono-Collapsometer
- Bay Area Housing Crash Continues
- HouseBubble.com
- Vancouver Housing Market Blog
- housingbubble.com
4 Comments:
I think the hedge funds are taking a run at some of these stocks. They are thinly traded and not well supported, so they short them. And they fall.
Just wait: it is going to get much, much worse.
you are probably right. hedge funds had a bad quarter. got to justify those fees.
Hi Ben
Out of curiosity, I did a google on "credit bubble", and this very interesting article came up:
U.S. economic collapse looming for 2005
by William Engdahl
http://www.proliberty.com/observer/20040808.htm
an excerpt: A trapped Fed
Ever since raising rates, Greenspan has calmed nervous markets by stating that future rises will be ever so gradual. In other words: don't worry, speculators. But if he is to keep the confidence of the large bond markets, he must convince them that he is still vigilant against inflation. That is tough when prices for everything from copper to oil to lumber to soybeans and scrap steel are rising from 50% to 110% over recent months. His only anti-inflation tool is higher interest rates, or promise of same. The longer he fails to raise rates as prices rise, the greater the risk of a dollar crisis, as foreign investors fear the worst, namely that the U.S. economy is in far worse shape than officials admit. The Fed is in a trap.
Higher interest rates threaten to explode the $3 trillion dollar home mortgage debt bubble, where home values are estimated to be at least 20% overvalued nationally.
thanks for the link anon..ben
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