House Prices Drop US/UK Housing Crash? Subprime Bubble

"[A]n aptonym is the term used for ‘people whose names and occupations or situations (e.g., workplace) have a close correspondence.’ "
Some days all you can do is laugh.[1]
Treasury confirms Kashkari to head mortgage rescue plan
 

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Notes and References
[1]: "Treasury confirms Kashkari to head mortgage rescue plan", by Greg Robb, MarketWatch, October 6, 2008.

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Original post by John M.

findaproperty: General London Market Improves Russell Jervis, Managing Director of Haart, comments: “September started to show the first encouraging signs of green shoots, with a surge of buyers registering in order to take advantage of the more affordable prices and more attractive mortgage deals that lenders were offering.
……….what grren shoots and what attractive mortgage deals????? What planet do these people live on. Next thing he will say is that thanks to the mastrefull work of Bush and Paulson we can expect London prices to rise by 25% by next summer.

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Original post by bystander

BBC: 95% LTV mortgage options fall The number of mortgages available to buyers with a 5% deposit is shrinking fast, as lending is cut because of the credit crunch and falling house prices.
There are only 60 such deals currently available from lenders, down from 860 a year ago.
Mortgages for 100% or more of a property’s value disappeared at the start of the year. The number of 90% deals is also shrinking fast, though not as dramatically.

Original post by little professor

BBC: Financial crisis at-a-glance: 6 Oct 1649: The FTSE 100 Index of leading shares closed down 7.85% at 4589 points, a drop of 391 points.
1638: The Cac 40 in Paris closes down 9%, the worst fall in percentage terms since its creation in 1988.
1534: Russia’s dollar-denominated RTS stock market closes down 19%, its worst one-day fall on record. The index closes at 866.39 points, down 65% from the all-time high reached in May this year.
1435: Trading on Brazil’s stock market is suspended half an hour after opening following a 10% fall on the main index.
1430: On Wall Street the Dow Jones opens down 208 points, or 2%, at 10,117.

Original post by matt_the_hat

Sky News: Biggest FTSE Fall For 20 Years The FTSE 100 index of leading UK shares has suffered its biggest one-day fall since the 1987 crash amid the deepening global financial crisis.

Original post by matt_the_hat

BBC: Pope criticises pursuit of wealth The global financial crisis is proof that the pursuit of money and success is pointless, Pope Benedict XVI has told a meeting of bishops in Rome.
Still doesn’t stop the catholic church being on of the richest organizations on earth!

Original post by matt_the_hat

Telegraph via SOTT: Nobody will be spared, unless they own gold bars Ambrose Evans-Pritchard
The London Telegraph
We face extreme danger. Unless there is immediate intervention on every front by all the major powers acting in concert, we risk a disintegration of global finance within days. Nobody will be spared, unless they own gold bars.
As the unflappable Warren Buffett puts it, the credit freeze is “sucking blood” out of the economy. “In my adult lifetime, I don’t think I’ve ever seen people as fearful,” he said.
We are fast approaching the point of no return. The only way out of this calamitous descent is “shock and awe” on a global scale, and even that may not be enough.
During the past week, we have tipped over the edge, into the middle of the abyss. Systemic collapse is in full train.

Original post by malct

BBC: Stock Markets Just had a look at the markets after reading a news article saying “Oh no, they’re down about 4%”. The BBC page is dying (presume their servers are getting battered) but if you keep hitting refresh you should get through.
Anyway, FTSE down 8.3% a few moments ago. Ouch.

Original post by night

BBC: Stock Markets Just had a look at the markets after reading a news article saying “Oh no, they’re down about 4%”. The BBC page is dying (presume their servers are getting battered) but if you keep hitting refresh you should get through.
Anyway, FTSE down 8.3% a few moments ago. Ouch.

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Original post by night

BBC: Stock Markets Just had a look at the markets after reading a news article saying “Oh no, they’re down about 4%”. The BBC page is dying (presume their servers are getting battered) but if you keep hitting refresh you should get through.
Anyway, FTSE down 8.3% a few moments ago. Ouch.

Original post by night