GoFuckYourself.com - Adult Webmaster Forum - Are we in for another housing bust?

http://www.rntl.net/history_of_a_housing_bubble.htm

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1985-1986: Housing is booming, inventory is low.

2002 - 2003?

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1987: Housing still booming, prices increasing, inventories low.

2004?

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1988: People start to question the boom. Realtors assure us the boom will continue. Houses aren't like stocks afterall.

2005?

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1989: Prices are very expensive; affordability an issue. Sales slow and prices drop. Mention of risky loan types.

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New Century, the second-largest U.S. sub-prime home mortgage lender last year based on loan volume, has already stopped making new loans due to a lack of funds.

2006?

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1990: Prices take a serious plunge. One article claims that housing booms are a bad thing and we should hope prices stay low. Increasing mortgage rates are blamed for the bust. The word "recession" is mentioned. Gloom and doom.

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On March 2, 2007, after the close of regular trading, New Century revealed that it was under criminal investigation by the U.S. Attorney's Office for the Central District of California. The criminal investigation focuses on how New Century accounted for losses when it was forced to buy back soured loans last year, and whether its executives profited by selling stock while misleading other shareholders. In reaction to this news, the price of the Company's common stock fell more than 68.8% from its closing price of $14.65 on March 2, 2007 to close at $4.56 per share on March 5, 2007. The Company's preferred Series A fell more 55.3% from it closing price of $17.90 on March 2, 2007 to close at $8.00 per share on March 5, 2007, the Company's preferred Series B fell more than 58.2% from its closing price of $19.15 on March 2, 2007 to close at $8.00 per share on March 5, 2007.

Stock price is now less than $3.

People's Choice, based in Irvine, California, is the fourth subprime lender to file for bankruptcy since December

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Fremont General Corp. of Santa Monica said it told significant numbers of its 2,400 home-loan employees to expect pink slips in two months.

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The Orange-based parent of Ameriquest Mortgage Co. and Argent Mortgage Co. announced large but unspecified layoffs last week. On Monday, Ameriquest said its name is coming off the Texas Rangers? in Arlington, Texas.

Get Ready for the bubble to burst in 2007!