Doom: Key US mortgage lender collapses

Bright Spark

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#1

Doom: Key US mortgage lender collapses

13 July 2008, 09:07

I love the smell of doom on a sunday morning ......

http://news.bbc.co.uk/1/hi/business/7503109.stm

Key US mortgage lender collapses

One of the largest US mortgage lenders, the California-based
IndyMac Bank, has collapsed amid a growing credit crisis
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Waldorf

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#2

13 July 2008, 09:15

The bright side is that this is good news for first time buyers!

To be honest the housing market has been too high for too long and a correction has long been due.

The way I look at it, if my house falls by 20%, the next house I want will also fall by 20% (I hope!) so that is fine.

People with 100% mortgages may not feel the same way!

"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance." Cicero
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HairyArsedBloke

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#3

13 July 2008, 11:04

Echo ..........

How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

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