Thailand

Capt. Fantastic · #1 18-09-2007, 05:40

Looks like the US mortgage conflagration is spreading like, er, wildfire.

K2 · #2 18-09-2007, 07:43

Too much debt out there and if China & India ever wobble then will have more serious downturn but I think we are not ready for the real shake out ... give it another 12-18 months and Paulson's "markets are repricing risk" will have real significance.

Saw on Bloomberg yesterday at car loans are heading the same way - with 3 year high in late/delinquent accounts.

Sparkle · #3 18-09-2007, 10:32

over the last month on the very consumer end of the market we have seen tightening on construction quotes offered back in oz....the builders are quick to feel a pinch on finance....... and for the first time in a couple of years a spate of mortgagee in possession sales (on houses not so in the commercial yet) have come through in sales, these have a 3-4 month lag on a significant default in oz. Will be interesting to see how many such sales hit the market over the coming months.....it is easy to see such moves in smaller towns and it has been enough for us to sit up and listen already.

K2 · #4 18-09-2007, 10:35

There was a rumour that Adelaide Bank is in trouble this morning - plunged 15% taking ASX with it - officially they denied it but so did Countrywide Financial in the US.

Sparkle · #5 18-09-2007, 10:46

hhhmmmm have not looked at that yet. would be interesting as Adelaide is not known as one of the most aggressive lenders in the market....(unless they acquired someone i dont know about...which is very possible as have been out of that market for 2 years or so) but if they are in trouble then i do wonder why......and who else is hot on their heels.

Sparkle · #6 18-09-2007, 10:51

Or maybe we will have another trading scandal.......these renegade traders living it up in tropical paradises .... causing wild fluctuations in our most stable of business institutions....hitting random trades between sucking on margaritas.....oooopppp sorry K2 .....forgot you were there.

K2 · #7 18-09-2007, 10:56

Quote:

Originally Posted by Sparkle

....hitting random trades between sucking on margaritas.....oooopppp sorry K2 .....forgot you were there.

Random? Margaritas?? Hummmm

ototto · #8 19-09-2007, 03:06

Quote:

Originally Posted by K2

Random? Margaritas?? Hummmm

K2... talking about market... Where is my dvd??