And another bear bites the dust... mbga9pgf's epiphany....

ess0two

chucky wrote: »

shhhhh it's a secret - only the peeps on HPC.co.uk and the clever bears know about it...

come 2011 it will be carnage - property down 70%!! even in Wiltshire!!!

Hope so,i've been sitting this out since early 2000,fingers crossed.
That 5 bed detached will be within my FTB sights,bring it on.:cool:

Harry_Powell

ess0two wrote: »

Hope so,i've been sitting this out since early 2000,fingers crossed.
That 5 bed detached will be within my FTB sights,bring it on.:cool:

No, forget that 5 bed. The falls are going to be so great that we can all buy Grade 1 listed mansions! I've first dibs on Buckingham Palace!!

PrivatisetheNHSnow

chucky wrote: »

shhhhh it's a secret - only the peeps on HPC.co.uk and the clever bears know about it...

come 2011 it will be carnage - property down 70%!! even in Wiltshire!!!

no, you're the ignorant idiot, it's a fact:

If we're right about these losses, three of the four biggest banks have such bad loan portfolios that they would be deemed insolvent under mark-to-market accounting rules.

http://www.washingtontimes.com/news/2010/apr/15/big-banks-back-to-brink-of-ruin/

this is when it happened:

http://www.bloomberg.com/apps/news?pid=20601109&sid=awSxPMGzDW38

sorry to burst your bubble....

chucky

PrivatisetheNHSnow wrote: »

no, you're the ignorant idiot, it's a fact:

wow - you're such a clever little monkey.
do you think that the banks know about them?

guess the worlds going to end and i can't buy that 17 bedroom 6th century castle that i always wanted

btw - they've taken the world gullible out of the dictionary sunshine

PrivatisetheNHSnow

chucky wrote: »

btw - they've taken the world gullible out of the dictionary sunshine

i'm gullible because i believe an article in the mainstream media written by a professor of capitalism and a professor of real estate and finance?

what are your qualifications in us accounting practices and finance?

PrivatisetheNHSnow

btw i'm not looking to buy a house, already own one. just pointing out that you were wrong.

chucky

PrivatisetheNHSnow wrote: »

btw i'm not looking to buy a house, already own one.

well done :T

i still want that 17 bedroom 6th century castle when the ticking time bomb Alt-A defaults come along.

tick tock

PrivatisetheNHSnow

chucky wrote: »

well done :T

i still want that 17 bedroom 6th century castle when the ticking time bomb Alt-A defaults come along.

tick tock

can you remind me why you're right and the professors in the article in the american newspaper are wrong? :eek:

chucky

PrivatisetheNHSnow wrote: »

can you remind me why you're right and the professors in the article in the american newspaper are wrong? :eek:

or you could ask yourself the question.... why are you right and the banks don't know about this impending financial armageddon and have taken no action...

PrivatisetheNHSnow

chucky wrote: »

or you could ask yourself the question.... why are you right and the banks don't know about this impending financial armageddon and have taken no action...

who said there was going to be an impending financial armageddon? i was just saying that the banks are hiding their losses by not using mark to market accounting, until the worst in terms of mortgage delinquency rates is over. it was approved by the us govt in march 2009 - that's what the bloomberg article says.

if there are more losses from 'alt a', then as long as mark to market is suspended, the banks won't necessarily need to ask for more bailouts.