Curb Zone - View Single Post - Global Urban Property Boom -- Is it out of control?

450SEL6.9 · 03-18-2007, 01:25 PM

What? Why didn't my post show up? Damn, have to write it again.

I had to amend my username because my old one stopped working and I can't reset my PW. Nice to see you still active, Rob.

The article is not perfectly objective in my opinion. It keeps quoting Jones Lang Lasalle. They are a property services company with a vested interest in seeing a continuation of the bull market in real-estate. It seems that the only analysts calling a bottom to the American real-estate market downturn are those working at property companies. The fact of the matter is, and even Mr. Greenspan has warned about this, the subprime mortgage lending market in the U.S. is in deep trouble. HSBC is one of the largest banks in the world and they are being hit by the woes in their American subprime business. Small subprime lenders have gone bankrupt or will go bankrupt.

An alarming number of homeowners, probably 10-14%, were able to get mortgages despite having the worst statistical credit. They are safe if their house goes up in value constantly, but once that stops, and it has stopped, then they are in deep trouble. Can they say foreclosure and bankruptcy?

Also, there is no such thing as being immune to corrections. Canas sounds like an investment banker. They work in a very cyclical business. If he thinks he is immune, perhaps he sound do a google search and read up on the number of investment bankers that were out of their arse after the 2000 internet and tech. stock crash.

03-18-2007, 01:25 PM	#5 (permalink)
450SEL6.9 Inactive Account Join Date: Oct 2005 Posts: 825 My Mood: Thanks: 57 Thanked 60 Times in 54 Posts	Re: Global Urban Property Boom -- Is it out of control? What? Why didn't my post show up? Damn, have to write it again. I had to amend my username because my old one stopped working and I can't reset my PW. Nice to see you still active, Rob. The article is not perfectly objective in my opinion. It keeps quoting Jones Lang Lasalle. They are a property services company with a vested interest in seeing a continuation of the bull market in real-estate. It seems that the only analysts calling a bottom to the American real-estate market downturn are those working at property companies. The fact of the matter is, and even Mr. Greenspan has warned about this, the subprime mortgage lending market in the U.S. is in deep trouble. HSBC is one of the largest banks in the world and they are being hit by the woes in their American subprime business. Small subprime lenders have gone bankrupt or will go bankrupt. An alarming number of homeowners, probably 10-14%, were able to get mortgages despite having the worst statistical credit. They are safe if their house goes up in value constantly, but once that stops, and it has stopped, then they are in deep trouble. Can they say foreclosure and bankruptcy? Also, there is no such thing as being immune to corrections. Canas sounds like an investment banker. They work in a very cyclical business. If he thinks he is immune, perhaps he sound do a google search and read up on the number of investment bankers that were out of their arse after the 2000 internet and tech. stock crash.