14 octobre 2007
MORTGAGE MELTDOWN NEIGHBORHOODS CRUMBLE IN WAVE OF FORECLOSURES
source: The San-Franscico Chronicle
The foreclosure rate here is seven times that of the region as a whole and nearly 1,000 percent higher than it was a year ago. This small area of Antioch, with 23 foreclosures for every 1,000 homes, has twice the bank repossession rate of greater Stockton, an area often cited as the No. 1 foreclosure spot in California. On Juarez's block, at the eastern end of Catanzaro Way, the numbers are even grimmer. Nine out of 40 properties have been repossessed by the lender; another four are in default. That means almost one-third of the homes are in or facing foreclosure. You wouldn't know it if not for the dead lawns and for-sale signs that line the street. The neighborhood of spacious Mediterranean-style homes appears placid and pleasant, no different than any other California subdivision.
US clings to state of denial
source: guardian
Thousands of spanking new homes are standing empty on Main Street USA, Alan Greenspan reckons there's a 50 per cent chance of a recession, and the Federal Reserve has made an emergency half-point rate cut - yet the Wall Street bulls refuse to be cowed. Depending on who you ask, the world's biggest economy is either a hair's breadth from disaster, or well on the road to recovery.
Sniffles That Precede a Recession
source: The New-York Times
Some of these tales have faded — bank runs no longer seem a risk. But confidence in the economy remains fragile. More shocks are likely as an era of huge real estate speculation apparently ends, with the possibility of further surges in foreclosures and failures of financial institutions.
Banks May Pool Billions to Avert Securities Sell-Off
source: The New-York Times
Several of the world’s biggest banks are in talks to put up about $75 billion in a backup fund that could be used to buy risky mortgage securities and other assets, a move designed to ease pressure on a crucial part of the credit markets that threatens the broader economy.
Analysts say that investors have all but stopped buying SIV-affiliated commercial paper, and the worry is that the 30 or so SIVs will unload billions of dollars of mortgage-related assets all at once. That would put intense pressure on prices. As Wall Street firms and hedge funds mark value of similar investments they held to their new lower values, they face potentially huge hits to their profits.
Les principales banques US essaient de monter une sorte de CRD afin de permettre de racheter les obligations risquées qui sont actuellement financées par du papier commercial. Voir aussi cette dépeche sur bourso
Malgré la crise financière, les marchés émergents nagent dans l'euphorie
source: Le Monde
Après
l'immobilier en 1991, les marchés asiatiques en 1997, Internet en 2000,
"qui sont les prochains candidats pour la bulle ?", s'interrogent les
économistes de chez Natixis. Aujourd'hui, les soupçons convergent vers
les Bourses des pays émergents. Les places financières des "BRIC" -
pour Brésil, Russie, Inde et Chine - nagent en effet dans l'euphorie.
Les sommes placées sur ces marchés contribuent, selon lui, à des
valorisations, "démentielles" : "On fabrique la prochaine crise."
Immobilier : Lille continue de progresser
source: La Voix du Nord
Alors que le prix de l'immobilier a plutôt tendance à se tasser en
France, Lille est une des rares grandes villes françaises où les prix
continuent de progresser. Selon le baromètre Seloger. com, les prix y
ont grimpé de 4,9 % depuis un an, dont 3,2 % rien que sur les trois
derniers mois.
Je vis dans l'exception de l'exception française (selon le Figaro, les prix ne baisseront pas en France (sic) mais la région lilloise est l'exception en France ). (rires)