Loan Think

What We're Hearing

Published March 02, 2009, 7:00 a.m. EST

1 Min Read

How much in housing wealth (as in equity) has been wiped out over the past two years? One-trillion? Two-trillion? Hard to say but it's still probably less than the stock market losses facing those who went long. At press time the Dow Jones Industrial Average was nearing 6800 which means the market is down 50% from its peak of 14,000. At least an empty house can be rented out (okay, maybe not in all markets) but a $1 stock may never recover. Even the great Warren Buffett of Berkshire Hathaway is feeling his oats. The net worth of Berkshire's Class A and B stock lost $11.5 billion last year. In his new annual letter to shareholders Mr. Buffett -- who smartly dumped his holdings in Fannie Mae, Freddie Mac and Countrywide years ago -- offers investors a ray of hope: "Amid this bad news, however, never forget that our country has faced far worse travails in the past"â¦

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM NATIONAL MORTGAGE NEWS

Title insurance

Title insurers report improved profits, volume in 2Q

Even with the positive news when it came to income, two of the big four underwriters had their earnings outlook slashed, while a third received an upgrade.

By Brad Finkelstein
Originations Editor

August 7
Artificial Intelligence

Survey: AI handles docs, LOs should own the relationship

AD Mortgage's news survey finds 82% expect AI to transform the industry, and relationship skills will decide who wins in 2027.

By Nazeefa Ahmed

August 7
Earnings

Ellington Financial nears servicer acquisition agreement

An acquisition this year could be one in a line of other future deals, potentially involving lenders or commercial real estate firms, Ellington executives said.

By Spencer Lee
Technology Reporter

August 7
REALTORS & HOMEBUILDERS

Dream Finders finally buys Beazer, cites mortgage benefits

If the deal is completed, the companies will form the sixth-largest publicly traded homebuilder in the U.S. with about $6.6 billion in combined revenue.

By Colin McNamara
Reporter

August 7
REALTORS & HOMEBUILDERS

Pulte threatens build-to-order companies with GSE price curb

Fannie Mae and Freddie Mac's oversight chief said that he's displeased with a report that these builders have retreated from serving first-time buyers.

By Bonnie Sinnock
Capital Markets Editor

August 7
Federal Reserve

Hiring shortfall leaves all options open for Fed

The economy lost 23,000 jobs in July, but the unemployment rate ticked down to 4.1% all the same. The development could embolden both hawks and doves at the central bank.

By Kyle Campbell
Staff writer

August 7

Load More