Our memories are too short. It was only a few short months ago that Alan Greenspan’s legacy was being torn apart by critics of his eagerness to prop up bubbles through monetary easing. The critics said that his actions limited short term damage from the bursting of bubbles and economic difficulties only to generate the…
Skyrocketing home prices were ignored by the retired masses. With limited income and huge equity stored in their primary houses, thousands of retired home-ownders in the US and UK dipped into the equity in their houses. photo credit: TheTruthAbout… Banks facilitated this through the creation of home equity release products or “reverse mortgages”. The bank…
It is entirely possible that I was too optimistic. For once. What I said was: Our house prices will decline further but (political meltdown excepted) I’d bet serious money that we won’t see these declines in 2009 or 2010. I was talking about the 12.4% decline in US house prices in 2008 and the areas…
CNN has a story on house price declines being at their highest in 30 years. Turns out the headline is misleading in two ways. Firstly it proclaims house prices at a 30-year low, which is fortunately not quite the reality. However, the largest decline in 30 years is still pretty shocking. The second item is…
Peter Schiff on YouTube predicting the current financial market problems while the experts laugh. Telling.
A comment came in today on an old article about the dodgy lending scheme Rudie Visagie was proposing. The reader “trymore” provides some details of a new deal apparently being run by Rudie Visagie. As I stated last time this gentleman’s name came up, I have no personal interest or involvement here at all. My…
ABSA appears to be restricting the access of equity in home loan accounts that were specifically sold with this feature in mind. Moneyweb’s article on the real estate shocker has already totally nearly 70 comments. What this says about ABSA’s house price index What’s interesting is that ABSA’s house price index has remained positive throughout…
Call it what you will, US taxpayers now own Fredie Mac and Fannie Mae. Too big to fail Fannie and Freddie became so large that their failure would reverberate around the US financial sector, and housing market, eventually spilling over into global financial markets and possibly the global economy. Well that’s the theory. This was…
