Saturday, December 29, 2007

More dollar issues

Dollar Falls Versus Euro for Sixth Day as New Home Sales Drop : The dollar dropped against the euro for a sixth day, the longest decline since October, after a U.S. government report showed sales of new homes fell to a 12-year low last month.

Defaults moving beyond sub-prime: Thought the mortgage meltdown was just a sub-prime affair? Think again. There's another time bomb waiting to explode, experts say: risky loans made to people with good credit.

Housing prices are headed way down: The cold, hard truth is that foreclosures are serving only to hasten the painful process of shifting housing prices back to a level the market can sustain. Prices must and will fall. Everywhere. Probably 25% to 30% from their peak.

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