Thursday, Aug 06, 2009
More pain to come in the American market
Reuters: About half of U.S. mortgages seen underwater by 2011
"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." The American crash isn't really news bow but 48% implies astounding losses for holders of RMBS.
Posted by quiet guy @ 06:24 PM (431 views) Add Comment
2 Comments
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1. quiet guy said...
Oops. Looks like I've posted the same story as Mark. Sorry for the repetition.
2. debtfree said...
what was that ?
:o)
hey quiet guy, see you mentioned jim sinclair a few posts ago, he's top dog, been reading his stuff for a few years now and he's the only one that makes any sense. he saw this coming a long long time ago and is bang on the money.
shall i repeat that?