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Homebuilder Insiders On Selling Spree

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This may have been posted already, but no further evidence needed that insiders are bailing out of the US bubble. Is there any indication yet that the same is happening in the UK...

http://www.marketwatch.com/news/yhoo/story...96A6CFC6C5BF%7D

Homebuilder insiders on selling spree

Analysts worry sales may presage downturn after boom

By John Spence, MarketWatch

Last Update: 2:02 PM ET Aug. 29, 2005

E-mail it | Print | Alert | Reprint |

BOSTON (MarketWatch) -- A rash of insider selling in recent months at red-hot homebuilders appears reminiscent of a similar trend right before the technology bubble burst in 2000, Merrill Lynch said Monday.

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Big news.  And the fact Merrill are reporting it so eagerly is a sign they have learnt something from the lawsuits and investigations following the dot.com bubble.  It's not all rosy being a VI - after the party is over, people are looking for scapegoats.  And VIs are the people who have advised them to ruin their lives.

Yep, Wall St. banks covering their asses this time around, or at least trying to give the appearance of doing so. Can you imagine Halifax issuing such a report here :o

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I've said it before, but I wonder about the legal fallout from a HPC.

Imagine if in six years half of the country are sitting on nominal 40% losses.  Class action against Kirsty and CH4, anyone?

Perhaps there should be..

they must see what is happening..

To be honest I am amazed more did not see it coming.

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I've said it before, but I wonder about the legal fallout from a HPC.

Imagine if in six years half of the country are sitting on nominal 40% losses.  Class action against Kirsty and CH4, anyone?

There will be big trouble over some debt instruments, the securitizing of debt (i.e. passing the buck) by the big banks will leave many a pension fund nursing some very dodgy bonds, it may even sink some investment houses left holding some dubious derivatives contracts.

No doubt there will trouble with some BTL and self-cert loans too, accusations of misselling and calls for compensation.

As seen in the past with things like endowment mortgages, precipice bonds and Equitable people (especially those of middle-class distinction) are only able to accept one way bets, if it doesn't pay off then it's somebody's fault and there has to be recompense, someone has to be held 'responsible' for their own stupidity.

One imagines them storming into the bookies accusing them of "mis-selling" the 4:50 at Chepstow.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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