Corrections, Corrections, Corrections

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	Corrections, Corrections, Corrections

JICWyllie

11-15-2007 1:47 PM

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tags:

economy, financial markets, consumers, housing, i-losses, i-increase, i-forecast

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/4ffe4225-9842-4458-90d3-b176916532e2/8A67D25B-A233-4769-830F-351A9B782840/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.dailyreckoning.co.uk/article/correctionscorrectionscorrections0613.html" href="http://www.dailyreckoning.co.uk/article/correctionscorrectionscorrections0613.html" style="font-size: 11px;">www.dailyreckoning.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dailyreckoning.co.uk/article/correctionscorrectionscorrections0613.html"><DIV>"The bloodbath in credit and financial markets will continue and sharply worsen," writes Nouriel Roubini.<BR />Roubini says that banks have only ’fessed up to their losses through the third quarter of 2007. But, remember, the problem with these sub-prime loans is that the collateral – housing – is losing value. The more value it loses, the worse the crisis gets. We won’t know the scope of losses for 2007 until the annual statements come out in the spring of 2008. And then, losses for 2008 could be even worse.</DIV><DIV><DIV>Here’s a headline from Reuters:</DIV><BR /><DIV>"Home prices to keep sliding with no bottom in sight"</DIV><BR /><DIV>“The U.S. housing market's skid is nowhere near over,” continues the article, “and could extend for another five or even 10 years, according to one of the most-watched housing economists.</DIV></DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dailyreckoning.co.uk/article/correctionscorrectionscorrections0613.html">Areas most vulnerable to home depreciation are those that rose the most during the market's heyday</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dailyreckoning.co.uk/article/correctionscorrectionscorrections0613.html">California and Florida are high on this list</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/8A67D25B-A233-4769-830F-351A9B782840/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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