{"id":7372,"date":"2009-03-07T23:25:29","date_gmt":"2009-03-08T06:25:29","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=7372"},"modified":"2009-03-08T00:07:50","modified_gmt":"2009-03-08T07:07:50","slug":"ive-taken-the-liberty-of-posting-my-mortgage-market-week-in-review-here","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7372\/ive-taken-the-liberty-of-posting-my-mortgage-market-week-in-review-here\/","title":{"rendered":"I&#8217;ve taken the liberty of posting my &#8220;Mortgage Market Week in Review&#8221; here&#8230;.."},"content":{"rendered":"<h3>The Week We Woke  Up<\/h3>\n<p>I&#8217;m going to deviate from the normal format this week, because I believe that  this week has deviated from the normal that we&#8217;ve been experiencing lately.\u00a0\u00a0  I&#8217;m calling it the <strong>Week We Woke Up<\/strong>.<\/p>\n<p>What did we wake up to?\u00a0 A couple of things:<\/p>\n<ul>\n<li>The fact that t<strong>he debate on whether we&#8217;re going to have to  nationalize some of the banks\/financial institutions is pretty much a debate  over semantics<\/strong>. \u00a0 The announcement that the government now owns 36% of  Citibank and that we had to spend some additional billions (how many has yet to  be determined) to save AIG for the third time effectively said that <strong>we  are now in a situation where the government does own some of the banking  industry and the debate should now be about the how and not the whether or  not<\/strong>.\u00a0\u00a0 This mess sent shock waves through the financial markets and  virtually every bank saw their stock prices get &#8220;adjusted&#8221; accordingly.\u00a0 There  was a time this week that Citibank was trading for less than the cost of a Jr.  Bacon Cheeseburger at Wendys.<\/li>\n<li> <strong>The reality of GM&#8217;s scenario became a lot clearer <\/strong>and not  in a way that was going to make the economy any healthier.\u00a0 There&#8217;s a phrase in  business accounting called, &#8220;A Going Concern.&#8221;\u00a0\u00a0 What does that mean?\u00a0  Essentially it means that a business is generating enough income and has enough  cash to continue in business.\u00a0 <strong>Well, GM not only had some bad news in  terms of sales, but they admitted that their auditors don&#8217;t believe that they  can remain in business.<\/strong> That&#8217;s a pretty strong indication that GM&#8217;s  condition is a lot worse than what we thought a couple of months ago.\u00a0 What does  the prospect of a GM bankruptcy mean?\u00a0 Best case scenario &#8211; renegotiated  contracts with the UAW and bond holders, substantial job losses and dealership  closures. \u00a0 Worst case scenario &#8211; total liquidation of GM and absolutely  staggering job losses that will make <a href=\"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7372\/ive-taken-the-liberty-of-posting-my-mortgage-market-week-in-review-here\/#more-7372\" class=\"more-link\">Read more<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Week We Woke Up I&#8217;m going to deviate from the normal format this week, because I believe that this week has deviated from the normal that we&#8217;ve been experiencing lately.\u00a0\u00a0 I&#8217;m calling it the Week We Woke Up. What did we wake up to?\u00a0 A couple of things: The fact that the debate on [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[29,26],"tags":[261],"class_list":{"0":"post-7372","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-lending","8":"tag-mortgage-market-week-in-review","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":17917,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17917\/overnight-news-how-do-you-house-the-post-monogamous\/","url_meta":{"origin":7372,"position":0},"title":"Overnight News: How do you house the post-monogamous?","author":"Greg Swann","date":"March 3, 2021","format":false,"excerpt":"Real estate has a demography problem \u2013 especially nerd-bait real estate: The kids are not all right. Real estate is kids and dogs \u2013 which is to say that people buy homes to house the further fruits of their coupling. Fewer couples, fewer purchasers, more renters. But fewer couples, less\u2026","rel":"","context":"In &quot;Group Therapy&quot;","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2175,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2175\/psa-watch-the-debate-on-hr-3915-live\/","url_meta":{"origin":7372,"position":1},"title":"PSA: Watch the Debate on H.R. 3915 Live","author":"Morgan Brown","date":"November 6, 2007","format":false,"excerpt":"The debate is underway in the Financial Services Committee on The Mortgage Reform and Anti-Predatory Lending Act of 2007 you can watch it live here. (Clicking this link will launch your video viewer). I'm interested in seeing how poorly the politicians understand the concepts they are debating. Enjoy.","rel":"","context":"In &quot;Lending&quot;","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18569,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18569\/overnight-news-when-the-clowns-take-over-the-circus-do-they-eat-the-elephants-first\/","url_meta":{"origin":7372,"position":2},"title":"Overnight News: When the clowns take over the circus, do they eat the elephants\u00a0first?","author":"Greg Swann","date":"October 20, 2021","format":false,"excerpt":"The headline of the day belongs to The Babylon Bee, the most-accurate news source in America: \"Arms Race Heats Up: Just As China Reveals Space Nukes, America Responds With Trans Admiral.\" We are led by a pageant of clowns. Who can argue that we don't deserve exactly what we're getting?\u2026","rel":"","context":"In &quot;Group Therapy&quot;","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17345,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17345\/overnight-news-pucker-up-today-just-might-be-peak-2020\/","url_meta":{"origin":7372,"position":3},"title":"Overnight News: Pucker up: Today just might be peak\u00a02020.","author":"Greg Swann","date":"October 22, 2020","format":false,"excerpt":"Looking for a great debate question? Try this: \u201cVice President Biden, a week from the day after tomorrow is what date?\u201d But the debate is just the end of this day, and there promises to be tons of ugly news before then. Buckle up: It's about to get 2020 on\u2026","rel":"","context":"In &quot;Group Therapy&quot;","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17938,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17938\/overnight-news-the-limited-liability-corporation-is-the-rope-by-which-capitalism-hung-itself\/","url_meta":{"origin":7372,"position":4},"title":"Overnight News: \u201cThe limited liability corporation is the rope by which Capitalism hung\u00a0itself.\u201d","author":"Greg Swann","date":"March 7, 2021","format":false,"excerpt":"Predatory traders are not new. Crassus, to pick an ugly example, would bring his fire brigade to your burning Roman insulae \u2013 apartment building \u2013 but he wouldn't have them start to put out the fire until you sold the property to him. The longer it burned, the cheaper it\u2026","rel":"","context":"In &quot;Group Therapy&quot;","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2176,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2176\/hr-3915-anti-consumer-bank-protection-act-of-2007\/","url_meta":{"origin":7372,"position":5},"title":"HR 3915: Anti-Consumer Bank Protection Act of 2007","author":"Brian Brady","date":"November 6, 2007","format":false,"excerpt":"HR 3915, the Anti-Consumer mortgage bill has passed the House Financial Services Committee. This was expected. The committee is chaired by the bill's sponsor, Barney Frank. This bill seeks to destroy the consumer protections, guaranteed by free markets, through: a legislated oligopoly, a reduction is loan choices, and a contraction\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/7372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=7372"}],"version-history":[{"count":4,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/7372\/revisions"}],"predecessor-version":[{"id":7374,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/7372\/revisions\/7374"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=7372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=7372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=7372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}