Can you say housing bubble?

Today on stuff.co.nz it was announced that the NZ house prices were rising at an astonishing rate. I don’t know what the cause is but only in December 2011 it was announced that according to the Economist New Zealand’s real estate was amongst the most overrated in the world together with countries such as Australia, […]

1 in 5 owes bank more than house is worth

Everybody who bought a house in the last 5 (not 2 0r three) will go under water with their mortgage. This is the big one I’m sorry to say. The whole “house prices will keep on rising” was a hoax to make us the suckers spend, spend and then spend some more. Falling house prices […]

Mortgage ‘fire sale’ hits UBS shares

By Sean Farrell Friday, 7 March 2008 UBS shares fell to their lowest for more than five years yesterday on concern that the ailing Swiss banking giant had sold SFr25bn (£12bn) of risky mortgages at a big discount and faced further writedowns from the US sub-prime crisis. Analysts at JPMorgan said in a note that […]