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June 8, 2009

No Bottom in Housing (excerpts)

Housing faces another big wave of foreclosures. Jobs report: no cause for celebration.

LAST WEEK, MR. OBAMA VOYAGED TO EGYPT and delivered a truly remarkable speech. It wasn't so much the nicely crafted rhetoric or deftly glossed content that stirred our admiration. Rather, it was that he could speak for nearly an hour and verbally cover the globe, with its profusion of combustible hot spots threatening conflagrations that might consume continents, without once uttering the word "terrorist."

Guess from now on, we'll have to call those guys in Iraq and Pakistan who get up the in morning, brush their teeth and proceed to blow up themselves and everyone else who happens to be within spitting distance "misguided pyrotechnists" and the 9/11 bunch "malign tourists."

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Business Week

June 4, 2009

Foreclosure Goes Upscale (excerpts)

Rising job losses and falling home prices are dragging down people who never dreamed they would get in trouble.

With the U.S. economy and financial markets showing signs of life, optimistic analysts are looking for a recovery in the all-important housing sector. They got some ammunition on June 2 from the National Association of Realtors, which said that its Pending Home Sales Index jumped in April by the most in more than seven years.

But housing can't revive as long as the market is being flooded with homes that are falling into foreclosure. And far from going away, the problem is broadening. It's not just about subprime anymore. Now, people with excellent credit who never dreamed of getting in financial trouble are being dragged down by a dangerous cycle of rising unemployment and falling home prices. That is going to prolong the foreclosure crisis and, inevitably, inhibit the recovery of the rest of the economy.

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June 4, 2009

Now Comes the Real Crash (excerpts)

Fool retirement guru Robert Brokamp recently sat down with noted value investor (and former Fool writer) Whitney Tilson to talk about his thoughts on the continuing mortgage crisis. In the interview -- which appears in the new issue of the Fool's Rule Your Retirement newsletter, available online at 4 p.m. EDT today -- Tilson talks about where we currently stand in the mortgage crisis.

Tilson notes that the number of loans facing payment shock started climbing in early 2006, reached a very high level in early 2007, and stayed high until about the end of last year, at which point they started falling off sharply. Likewise, the massive wave of defaults and foreclosures triggered by these higher payments is abating. That wave is behind us.

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June 3, 2009
msn.com

Coming: A 3rd wave of foreclosures

 

May 31, 2009
Frederickburg.com

Book says mortgage misery is far from over

 

May 20, 2009
Reuters.com

T2 warns of "more mortgage meltdown," cuts financials

 

May 19, 2008
Barrons.com

Cheap Stock?

 

April 13, 2009}
Barrons.com

More meltdown

 

March 22, 2008
Barrons.com

Laugh or Cry? How to Look at the Current State of the Market

 

 

Videos

Buy Buffett, Beat Mortgage Meltdown

Buy Buffett, Beat Mortgage Meltdown

Whitney Tilson on TheStreet, 6/11/09

 

Value Investing Congress Super Investor Insight Tilson Mutual Funds Value Investor Insight