Housing market continues to slump – Lenar issues profit warning – Real Estate brokers going bankrupt
Fred Day
Jan. 2, 2007

The Residential Housing market is getting worse. The builders are facing deflating pricing power loss. The buyers are canceling contracts. Lennar, one of the largest US homebuilders painted a very gloomy picture. It plans to take a $500 million charge and will report a major loss in the fourth quarter.

Now new report shows the real estate brokers and mortgage brokers have started going bankrupt.

People are just refusing to pay hefty commission. In Edison, NJ, one home seller said “ These realtors are good for nothing! I ahd to reduce my home price by 20% to seel and now this same hopeless realestate agent wants fill commission. She did nothing – really nothing!”

Mortgage brokers are facing increasing lae suits for not disclosing facts to public before selling balloon mortgages that never reduces in outstanding loans.The mortgage bankers are also filing for bankruptcies.

Housing market continues to slump – Lenar issues profit warning – Real Estate brokers going bankrupt
Fred Day
The Residential Housing market is getting worse. The builders are facing deflating pricing power loss. The buyers are canceling contracts.
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The benchmark Sensex ended more than 155 points, or 1.13 per cent, higher on the Bombay Stock Exchange on the first session of year
Media Release
The benchmark Sensex ended more than 155 points, or 1.13 per cent, higher on the Bombay Stock Exchange on the first session of year today on widespread buying by foreign and domestic funds.
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A last chance to buy US Dollar index as Euro and Gold rise based on hope of accelerated European Manufacturing Growth – German consumer strike of 2007
Fred Day
However, the reason for such demand is the 3% (three time normal) hike in Value Added tax in Germany starting in January 2007.
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The year starts with dealers predicting rate cut by Fed but a analytic models predicts something very scary
Sam Adelton
Stagflation will finally manifest itself when long bond yields will move up as Fed cuts the short term interest rates. That is the nightmare scenario. Stagnation and inflation can cripple the economy.
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The dooms day for mortgage bankers and mortgage brokers as long bonds get ready to send chill in the Wall Street
Alan Hersey
The chill can be severe for mortgage bankers, brokers as the refinance market will collapse. The effect on real estate will also be severe as the buyers will just be pushed out of the market.
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Spitzer promises to bring ethics back in NY – will NJ Governor do the same? Small businesses suffering from bad Governance and ridiculous taxes from Democrats
Sonia Joshi
NJ small businesses are suffering. The taxes have gone ridiculously. Believe it or not, if you have a corporation in NJ, whether you make any money in a year or not, you have to pay the state $750. It used to be $50 seven years back.
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U.S. Treasuries had their best half- year since 2002 on hope Fed will cut rates in early 2007 but technical charts say the long term rates may be heading 9%
Sonja Anderson
The commodities and gold are telling the real story of inflation and the long terms rates are now heading for serious jump.
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