Saturday, March 10, 2007

High End Real Estate Woes

What do Wachovia, Credit Suisse, Cindy Crawford and Paris Hilton's sister have to do with each other? Read on here.

2 comments:

jim r said...

jim, pls read this!!!
http://www.nytimes.com/2007/03/11/business/11mortgage.html?_r=1&hp&oref=slogin

Jim K said...

Jimr. thanks. UBS surprised at how quickly things have unraveled. I guess they forget the adage, the bigger they are, the harder and faster they fall.

With credit standards being tightened so severely, spring will prove to be a big disappointment. sellers will flood the market, but far fewer subprime and fewer alt-a buyers spell big trouble.