Taken from a discussion of real estate on itulip.com, here is another list of why things are not rosy:
9.64 % of outstanding loans are not giving cashflows to the banks - Check
The Banks “assets” are deteriorating as the house prices fall - Check
Banks are marking these impaired assets to fantasy -Check
10.6% fall in New housing starts in October -Check
Liquidity at Banks (for a Buffer) is at all time Highs -Check
Banks reluctant to write new loans - Check
Borrowers reluctant to take on “new debt” - Check
Credit Cards are being removed from circulation at alarming pace- Check
C/C interest rates @ 10x prime cost- Check
The Government is the only buyer of Mortgages -Check
Delinquency rate does not include those undergoing F/closure -Check
Fannie Mae is losing dollars at an alarming rate - Check
New Unemployed of 500,000 Americans each week is acceptable - Check
S&P at PE ratios never seen before - Check
Canary in the coal mine - Gold - has flown away - Check
US $ depreciating to Bum paper - Check
T- Bills for Jan & Feb 2010 now Negative - Check
FIDC wants to borrow 3 years of your money from banks to Boost its ammo for Zombies -Check
No one is talking Green shoots - Check
ObaMao’s intent. Kill the currency, bring in the amero, kill the country bring in the NAU.