Co-Ed Naked Call Writing

[DanS]

Originally posted by DrSpike
I like it when this thread gets bumped - it reminds me of how right I was.

Hmmm...

London Leads the Biggest U.K. House-Price Drop for Five Years

By Svenja O'Donnell
Enlarge Image/Details

Dec. 17 (Bloomberg) -- London led the biggest drop in U.K. home values for at least five years this month as higher mortgage costs and the prospect of further declines in prices kept away buyers, a report by Rightmove Plc showed.

The average U.K. asking price fell 3.2 percent to 232,396 pounds ($473,437) from November, the largest decline since the survey of real-estate agents' listings began in 2002, Britain's most-used property Web site said today. London home costs dropped 6.8 percent, also the most recorded by Rightmove.

``The market is tough out there,'' Miles Shipside, the company's commercial director, said in an interview. ``We see a flat outlook for next year, with no price rises, as we work our way through this liquidity crisis.''

http://www.bloomberg.com/apps/news?pid=20601087&sid=akkFGUdy_lqg&refer=home

[DrSpike]

December is always a slow month though, and interest rates were just cut and the effects aren't in the data yet.

In fact most of what we're seeing is the lagged impact of deliberate policy induced reductions in credit in May and July. There is also a spike in supply that wont have helped, associated with the ill-fated HIPS scheme (google if you want the sordid details).

It's important to recognise the difference between what is usually referred to as a 'soft landing' where prices would fall slightly in real terms (or maybe even in nominal terms) and a crash where they fall sufficiently to bring about reinforcing repossessions etc.

In the UK there aren't as many hotspots as in the US (at least until recently) - but steady or even slightly falling prices for a year wouldn't hurt.

[Kidlicious]

Originally posted by Japher
The whole market has been hurting me as of late.

"We didn't land on Plymouth Rock, Plymouth Rock landed on us"
-Malcolm X

[Kidlicious]

Originally posted by DanS
As a net buyer for the next 30 years, you should be hoping for the market to crash and burn.

Let's go Bears! Let's go Bears!

[DanS]

Now we're starting to get some action.

Dow down 2%
S&P 500 down 2.5%
NASDAQ down 3.8%

[DanS]

Oof. Merrill Lynch expected to do an additional $7 billion write down next week ($15 billion total). Damn, that's enormous.

We're into correction territory now.

[Gibsie]

Originally posted by DrSpike
I like it when this thread gets bumped - it reminds me of how right I was.

I don't- the title confuses the hell out of me and I end up clicking the thread and having the hell bored out of me by it as a result!

[DrSpike]

Yes, Dan's strategy for generating wider interest on the economic issues of the day was certainly a success.

[Arrian]

I made the mistake of looking at my 401(k). Bad move. Avert the eyes and wait.

-Arrian

[chequita guevara]

The credit crunch hit me today. I got laid off from my company, which is a small commercial mortgage origination company. I was expecting it though, so it wasn't an awful shock.

[DanS]

Sorry to hear that che. Best of luck on getting a new job.

Is the commercial market getting hit in your area similar to the residential market?

[chequita guevara]

It's not that their loans were bad, it's just that the secondary market for mortgage based securities more or less has dried up. Doesn't matter if you can do a billion in loans if you can't find buyers.

Honestly, I'm surprised they kept me on as long as they have. I had two short projects the whole year and they weren't interested in any of the five projects I proposed. They should have cut me loose months ago. At least I got a six week severance and I'm getting my unused vacation. I've already been looking for work and I have an interview on Monday and a couple other things in the works, plus a good friend who's a freelancer who always has plenty of work. I think despite the looming recession I'm going to be okay. The only thing that really worries me is the loss of insurance.

And it gives me more free time to pursue a political project I have coming up. More on that later.

[Zkribbler]

Originally posted by chegitz guevara
The credit crunch hit me today. I got laid off from my company, which is a small commercial mortgage origination company. I was expecting it though, so it wasn't an awful shock.

If you need any money, I hear Theben's loaded.

[chequita guevara]

Yeah, that's it.

[notyoueither]

Originally posted by chegitz guevara
Honestly, I'm surprised they kept me on as long as they have. I had two short projects the whole year and they weren't interested in any of the five projects I proposed. They should have cut me loose months ago. At least I got a six week severance and I'm getting my unused vacation. I've already been looking for work and I have an interview on Monday and a couple other things in the works, plus a good friend who's a freelancer who always has plenty of work. I think despite the looming recession I'm going to be okay. The only thing that really worries me is the loss of insurance.

What's this?

Capitalists with a heart?

No wonder the market is failing! Too much fat for the weak!