Monday, Mar 12, 2007
Lehman plays down impact of subprime mortgage defaults
Bloomberg: Mortgage Defaults May Reach $225 Billion, Lehman Says (Update2)
"Mortgage defaults over the next two years may climb to $225 billion, probably not enough to be a drag on the U.S. economy, according to debt strategists at Lehman Brothers Holdings Inc. The forecast, based on an assumption of flat home prices,...
Defaults may rise to $300 billion if home prices fall and tighter lending standards keep borrowers from refinancing, they wrote."
Anyone else thinking this estimate is a little too optimistic?
Posted by goldfinger @ 06:09 PM (195 views) Add Comment
1 Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. lvmreader said...
This is wishful thinking. The real figure is going to be in the trillions. Add in Credit Default Swaps and Mortgage Backed Securities, we are looking at the LARGEST failure ever.
The USD will fail. It will be replaced by either the New USD or the Amero.
"God" help us all.