Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Global Warming ClImate Change Mega Death Trend - 8th Apr 24
Gold Is Rallying Again, But Silver Could Get REALLY Interesting - 8th Apr 24
Media Elite Belittle Inflation Struggles of Ordinary Americans - 8th Apr 24
Profit from the Roaring AI 2020's Tech Stocks Economic Boom - 8th Apr 24
Stock Market Election Year Five Nights at Freddy's - 7th Apr 24
It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- 7th Apr 24
AI Revolution and NVDA: Why Tough Going May Be Ahead - 7th Apr 24
Hidden cost of US homeownership just saw its biggest spike in 5 years - 7th Apr 24
What Happens To Gold Price If The Fed Doesn’t Cut Rates? - 7th Apr 24
The Fed is becoming increasingly divided on interest rates - 7th Apr 24
The Evils of Paper Money Have no End - 7th Apr 24
Stock Market Presidential Election Cycle Seasonal Trend Analysis - 3rd Apr 24
Stock Market Presidential Election Cycle Seasonal Trend - 2nd Apr 24
Dow Stock Market Annual Percent Change Analysis 2024 - 2nd Apr 24
Bitcoin S&P Pattern - 31st Mar 24
S&P Stock Market Correlating Seasonal Swings - 31st Mar 24
Here's a Dirty Little Secret: Federal Reserve Monetary Policy Is Still Loose - 31st Mar 24
Tandem Chairman Paul Pester on Fintech, AI, and the Future of Banking in the UK - 31st Mar 24
Stock Market Volatility (VIX) - 25th Mar 24
Stock Market Investor Sentiment - 25th Mar 24
The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Bank seizures of US Homes Surge by 90% As Borrowers Hit by Adjustable Rate Mortgage Resets

Housing-Market / Credit Crisis 2008 Feb 27, 2008 - 10:37 AM GMT

By: Money_and_Markets


Martin here with two news items I want to bring to your immediate attention.

First and foremost, talk on Wall Street yesterday that the housing market "may be bottoming" is a bunch of hooey.

The reality is that bank seizures of U.S. homes just surged 90% in January compared to a year ago.

The main reason: Homeowners failed to make the higher payments on massive amounts of adjustable-rate mortgages that are resetting at higher rates.

Why this is not the bottom: Another $460 billion in these mortgages are scheduled to reset this year alone!

Meanwhile, sales of existing homes have just fallen to their lowest level in nearly a decade. And just a few minutes ago, Standard and Poor's announced that U.S. home prices plunged 8.9 percent in the fourth quarter of 2007, the largest drop in the index's 20-year history!

Home sales fall to lowest in nearly a decade!

Look: If this crisis were limited to a certain geographical region, it would not be so traumatic. Or if it were happening in a largely debt-free society, it would also not be cause for great alarm.

But the fact is we're witnessing a nationwide decline in the value of the largest asset owned by hundreds of millions of Americans who are up to their eyeballs in debt .

Of course the folks at the Fed aren't taking this lying down. They're pumping money into the economy like there's no tomorrow. And they're getting ready to cut interest rates again next month, trashing the value of the U.S. dollar and driving counter-dollar investments flying.

That leads me to the second important piece of news I want to share with you: Mike Larson and I are getting ready to take action:

Next week we're issuing a blockbuster new Safe Money Report with a complete model portfolio of investment picks to help you accomplish three things immediately:

Check Get a large chunk of your money to safety!

Check Protect yourself against further real estate declines!

Check And go for extraordinary profits as choice alternative investments soar!

The report will be emailed and mailed to subscribers Friday, March 7. But to receive it, we need to hear from you by Wednesday, March 5.

Plus, to help you get ready ahead of time, we've prepared a package of special bonus reports that you can download right now.

Click here for all the details on what's happening, why it's generating such tremendous opportunities, and how to jump on board.

But remember: The deadline for getting our new portfolio recommendations is Wednesday, March 5, just eight days from today.

Best wishes,


This investment news is brought to you by Money and Markets . Money and Markets is a free daily investment newsletter from Martin D. Weiss and Weiss Research analysts offering the latest investing news and financial insights for the stock market, including tips and advice on investing in gold, energy and oil. Dr. Weiss is a leader in the fields of investing, interest rates, financial safety and economic forecasting. To view archives or subscribe, visit .

Money and Markets Archive

© 2005-2022 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in