Archive for October, 2007

Will subprime spread to commercial real estate?

Written by Timothy Blake on October 31, 2007 under Archives, Economic Impact

There were some big winners when the subprime market went into the tank, and many believe we should watch those winners for future indicators. These people are not singing the mortage blues, and in fact made plenty of money by correctly seeing the future. Here is what they see now:

Subprime impact on China reported

Written by Timothy Blake on October 31, 2007 under Archives, Economic Impact, International

We finally got some news from China regarding the spreading subprime issue. The sub-prime crisis hit China’s flagship lender yesterday as Bank of China wrote down $322m (£156m) for its holdings of US sub-prime mortgage securities.

Credit Cards Next to Face Downturn

Written by Timothy Blake on October 30, 2007 under Editorial, Opinion

There are rumors that the Fed will lower the prime rate again on Wednesday. The cut in September of 50 basis points was the first reduction in 4 years. The big players perceive a second rate cut as a panacea that will cure the ills of the crackdown on credit.

Subprime – poor credit or poor employment standards?

Written by Timothy Blake on October 30, 2007 under Archives, Editorial, Opinion

News shouts headlines and tag lines such as “Lenders were giving out loans like candy at this time last year. As a result, this Halloween will be no treat for anyone whose fortune is tied to the housing market” and “Lenders, investors, builders and borrowers have lost billions of dollars from spiking foreclosures of loans made to borrowers with poor credit.” One must ask the question: Are borrowers in bad shape because jobs give us no guarantee any more?

Japan subprime exposure less than others

Written by Timothy Blake on October 30, 2007 under Archives, International, Investors

In keeping with the old idea of how to win friends and influence enemies, subprime issues in the United States continue to effect other countries. We must remember that some of the biggest U.S. subprime lenders were not American banks. Consider HSBC, with losses in excess of $10 billion (USD). Granted, HSBC bought predatory lender Household International, but HSBC is headquartered in London. Investments in mortgage backed paper seemed to spread like cancer around the world, but some countries were more conservative. Here is what we see today in Japan:

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