Implode-Explode Heavy Industries news feed Tracking the many faces of the global credit implosion. en-us iehi-feed-53753 Wed, 23 Apr 2014 03:19:53 GMT U.S. home sales slip to a 20-month low iehi-feed-53732 Fri, 18 Apr 2014 14:06:15 GMT Rents Soar Out of Affordability Range for Middle Class iehi-feed-53723 Wed, 16 Apr 2014 18:22:16 GMT Why Crony Capitalist Brats Make Me ILL - David Stockman During 2012 Levin's 14-person team of speculators apparently made a $2.0 billion profit on a short-term bet on about $7.5 billion of busted loans and bonds-- mainly the smoking remnants of sub-prime CDOs and private labor MBS. As head of the trading group, Leven's share was apparently the aforesaid $119 million, and this swell outcome was truly a gigs-to-riches story.

... in an honest two-way market, no one in their right mind would bet $7.5 billion on financial drek using high leverage and minimal hedges. And no 30-year old would be given leave to close his eyes and bet the ranch, as apparently Levin did, based on merely the "housing recovery" word clouds being emitted by the monetary politburo and its echo-boxes in the financial press.''

iehi-feed-53717 Tue, 15 Apr 2014 17:44:54 GMT Tom Deutsch of the ASF on Eminent Domain & Loan Modifications -- A Mandelman Matters Podcast iehi-feed-53711 Tue, 15 Apr 2014 16:20:02 GMT Lending Drops to 17-Year Low as Rates Curb Borrowing: Mortgages iehi-feed-53670 Mon, 07 Apr 2014 23:10:28 GMT Zombie Mortgage Land! Lowest Mortgage Origination Volume on Record (And Average Loan in Foreclosure Now 2.6 Years Past Due) iehi-feed-53663 Sun, 06 Apr 2014 17:20:41 GMT Welcome to Feudalfornia: the golden sarcophagus and the investor The current sales volume is lower than what we saw in the early 1990s.  In fact, current sales are the lowest since the market imploded a few years ago.  What gives? The current trend was driven by low inventory, investor demand, and house lusting buyers.  As investors pull-back and affordability falls, it is natural to expect volume to naturally pickup as it has.  Yet California is largely becoming a renter state. 


[But now] the investor crowd is pulling back: "Prices have gotten to the stage where we cannot buy a house, renovate it, rent it and still make a reasonable return," said Peter Rose, a spokesman for Blackstone, which owns roughly 41,000 rental houses nationwide. "There was a moment in time where it made sense."

iehi-feed-53622 Mon, 31 Mar 2014 02:55:46 GMT February Pending Home Sales Continue Slide iehi-feed-53610 Fri, 28 Mar 2014 20:51:49 GMT Goldman Sachs Must Face Lawsuit Over 2007 Mortgage Bonds iehi-feed-53590 Wed, 26 Mar 2014 21:29:44 GMT What A Bank Run In China Looks Like iehi-feed-53570 Mon, 24 Mar 2014 02:57:43 GMT As credit tightens at home, Chinese sell Hong Kong luxury real estate iehi-feed-53569 Mon, 24 Mar 2014 02:31:56 GMT The Stunning History Of "All Cash" Home Purchases In The US iehi-feed-53562 Fri, 21 Mar 2014 21:48:54 GMT (Real and fake) Reasons Why NOW is a GREAT Time to BUY a Home - Mandelman iehi-feed-53551 Thu, 20 Mar 2014 22:10:52 GMT The Only CEO Prosecuted For The Mortgage Crisis Says He Feels Like A `Zombie' In Jail iehi-feed-53550 Thu, 20 Mar 2014 22:08:55 GMT Nationwide Home Sales Collapse: There Is No Recovery and This Chart Proves It Now may be the best time to buy a home. At least that's what the majority of real estate agents in America will tell you if you ask them how the housing market is doing.

They'll cite various statistics and give you a "feel" for the market from their personal experiences to convince you this is the case. But if you're paying attention, then it should be clear that there is, in fact, no recovery in the housing sector. And any gains we may have seen over the last few years are nothing short of a Federal Reserve fueled mirage, much like the stock market.

iehi-feed-53547 Thu, 20 Mar 2014 19:03:26 GMT China's Housing Problem In One Chart (Home starts growth) iehi-feed-53538 Thu, 20 Mar 2014 02:54:59 GMT ARMS Are All the Rage Again iehi-feed-53526 Tue, 18 Mar 2014 19:10:00 GMT Feb. housing starts steady; permits surge iehi-feed-53513 Tue, 18 Mar 2014 13:18:04 GMT U.S. retirees return to reverse mortgages, big banks stay away U.S. baby boomers desperate for retirement income are increasingly turning back to a financial product that, after the housing bust, had been left for dead: the reverse mortgage...

... at this stage, most bigger lenders are uncomfortable with the loans -- for example, in 2011, Wells Fargo & Co and Bank of America backed out of the business. Wells has cited factors including unpredictable home values and the level of delinquencies as reasons for it to stay away from reverse mortgages.

The government agency that guarantees these loans, the U.S. Federal Housing Administration, found them to be risky, too. Losses on reverse mortgages were a big reason for the agency's $1.7 billion taxpayer bailout last year - and some experts worry it could end up in similar trouble again.

iehi-feed-53504 Mon, 17 Mar 2014 14:20:56 GMT U.S. home builder sentiment ticks up in March, still sour