More Foreclosures Ahead

Lou Barnes in the Inman News reported that “Oppenheimer says that global debt underwriting has fallen 55 percent since July (a $2 trillion strangle). In the first quarter, global bond and stock underwriting combined fell 45 percent; issuance of mortgage-backed securities dropped 82 percent; and non-rated “junk” bonds tanked 88 percent. For those who still buy the Wall Street line that this is all about housing, note that new issuance of state and local student-loan securities, a $330 billion market, in the first quarter fell all the way. Zero.” In my opinion, this distressing news probably means there’s more foreclosures ahead.

About Michael Stark

Licensed since 1996, Michael Stark is a Southern California native, and a real estate broker. Michael’s work spans multiple asset types, including homes, condos, multifamily, commercial, industrial, and NNN property throughout Southern California. Michael's reputation for sourcing unique off market properties and seller motivated real estate deals is well known. Another core specialty is helping sellers market and maximize the return on their property. From 2010 to 2020, Michael served as the Program Chairman of RIAOC (Realty Investment Association of California) booking over 400 speakers. Michael also served as a board member of the Newport Beach Association of Realtors MLS Committee. Michael's website provides a variety of free resources at SouthernCaliforniaBroker.com, along with nearly 500 videos that he produced. Michael earned his B.A from Claremont McKenna College, and his Masters from the London School of Economics. DRE# 01207862.

By Michael Stark | April 5, 2008 | Categories: Blog, Miscellaneous |