Subprime Loss Causes Writedown of 380 Billion Dollars of Assets
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The writedown of assets by financial companies is truly staggering. A report out of Bloomberg Financials says that the write down of assets by Wall Street over the past year is 380 billion.
To put the number into terms we could deal with, that is saying that 1,900,000 homes with a value of $200,000 dollars could have had their value complete liquidated.
Scary.
The collapse of the subprime market that began last year caused at least $380 billion of asset writedowns and credit losses at companies including Citigroup Inc. and Washington Mutual Inc. Fallout from bad mortgages has toppled at least half a dozen hedge funds and the chief executive officers at Citigroup Inc., Merrill Lynch & Co. and UBS AG. via Bloomberg.com
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
I see the question I have, but no response. I do not have a for sale sign up ...
I'll add mine to the list too. This is happening in Kansas City, Missouri as well now.
We already knew ...
