Lehman Posts First Loss Ever: Almost $3 Billion in 2nd Quarter
If you needed any more evidence that the loss party on Wall Street isn’t anywhere near an end, just look at the whopping $2.8 billion loss posted by Lehman. This is the first loss ever posted by the Wall Street investment giant:
Credit Crisis: $390 Billion in Writedowns so Far. The Epic Housing Bubble Explained.
The Washington Post has an excellent three part series that will be highlighting the epic in progress housing bubble. For those of you who are still uncertain how this entire jigsaw puzzle comes together, this resource will prove to be invaluable. You have to wonder how the entire economy has become so dependent on structured […]
NAR: How a 4% Quarterly Gain was Really a 30 % Drop. The New Housing Math.
You would think that someone would double check their own data given the situation in the housing market before reporting a statewide gain. You would assume that an organization that is the de facto standard bearer for Realtors would make sure that data accuracy would be the pinnacle of their mission.  This is not the […]
Loss Mitigation: Short Sales: Nothing Short about the Approval Process.
With the current housing mess people think that banks would be chomping at the bit to approve short sales. That is when a lender approves for a sale which is less than the face mortgage balance. Banks and lenders do not operate under a charity model. They will only approve a short sale if they […]