mortgage

August’s subprime mortgage contagion led to a widespread liquidation of

August 31st, 2007|by Michael Ashley Schulman, Perspectives, The Big Picture, Writers|

August’s subprime mortgage contagion led to a widespread liquidation of equities, commodities and low-grade credits. The sell off was exacerbated by the largest jump in overnight loan rates in six years. Correspondingly, inflation in China accelerated to the highest level in a decade, volatility soared, and U.S. consumer confidence reached a two year low. The […]

The worst is not over in the housing market

June 30th, 2007|by Michael Ashley Schulman, Perspectives, The Big Picture, Writers|

The worst is not over in the housing market. To date, problems and media attention have centered upon flimsy underwriting standards and weak housing prices within the $1 trillion subprime market. However, even prime loans are experiencing an increase in late payments and defaults. Therefore, as both subprime and prime loans worsen, expect continued deterioration […]