Wednesday, Jun 27, 2007
Here it comes like a big wave across the ocean ...
Times Online: Housebuilder takes big hit as sub-prime woes deepen in US
"Lennar reported a dramatic swing in its fortunes, as it announced a $244.2 million (£122 million) loss for the second quarter, down from a $324.7 million profit the year before. " ... "House prices have suffered as a jump in defaults among high-risk sub-prime borrowers has combined with Federal Reserve interest-rate increases to push the average rate for a 30-year mortgage up to 6.60 per cent, reducing demand for properties." ... Oh it grieves the heart so ... can't wait ...
Posted by fahrenheit451 @ 04:16 PM (136 views) Add Comment
5 Comments
- 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. royston said...
Won't be long now....................until we hear the pop-pop of imploding hedge funds in the distance! The loud plopping sounds? Oh, those are the banks!
2. royston said...
"I love the smell of napalm in the morning" ( - I do love that quote - Apocalypse Now - in case anyone didn't know)
3. japanese uncle said...
Someday this woe's gonna end.
4. sovietuk said...
There are striking similarities between Colonel Kurtz's jungle community and Gordon Brown's economy, both unsustainable and both insane.
5. Ericthered said...
' charlie don't surf ' fantastic film, and what a coincidence....