| Lessons of the housing credit crisis
Because of the adjustable rate mortgages, we will probably see another round of foreclosures in 2008, but the end is in sight, said northern Colorado economist John Green. The good news is changes have been made. Credit is harder to get. Lenders don't make the kind of wild offers they once did.
It is also important that we, as home buyers, also learn from the turmoil. We must scrutinize lending offers and be conservative when looking at prices. Buyers need to make sure they can afford the homes they get. It is also important that the industry remember this and retain the hard lessons about letting people buy homes their income can't support.
While a nationwide recession looms, thanks in large part to the lending crisis, if we all learn from the foreclosures we can move forward, albeit with a "buyer beware" attitude.
1923 FA Cup Final menu card up for sale
Duncan had confided to her the previous morning. Gladstone called Duncan, and this big giant of a boy arrived in the living room wearing his pyjamas, rubbing the sleep out of his eyes, and immediately upon recognizing Matt Busby said; 'Mr. Busby, there's only one club that I want to play football for, and that's Manchester United. I'd give anything to sign for them'. It was as simple as that - he'd followed the exploits of the United team that had won the FA Cup in 1948, the 1st Division Championship in 1952, and who had also finished runners-up in the league on four other occasions. Their brand of football had captivated him. He was a United fan! A few minutes after meeting Matt Busby, Duncan was a Manchester United player, and a few days later he left the family home for digs in Stretford, and a career in professional football.
Sensex up 696 pts in relief rally
The rate cut in the US late on Tuesday, has provided the necessary relief to the panic struck market, but one cannot expect the immediate rebound to sustain, given the way with which shares fell on Monday and Tuesday.
"The daily charts indicate the market was in a deeply over sold zone, so a relief rally was inevitable. But the sentiment cannot be reversed over night. Recovery is underway," said Suresh Kumar Iyer, technical analyst at Asit C Mehta Investment Intermediates.
"A strong trigger is now needed for the market to sustain at higher levels as traders are still cautious. FIIs have to come in and buy strongly, but until that happens, we will continue to see profit taking at the tops. Short term players are advised to stay away as the immediate trend remains unclear.
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