Mike’s Real Estate Show

Listeners,

Lou Barnes, one of my favorite critics and sharp observers of everything financial, especially mortgage markets, says the following about a unique web site tracking which lenders are “imploding” or going out of business. Check out this web site. The guys a “Real Estate Bubble/Bust” champion so I’m not in agreement with his overall take on real estate but the lender observations are spot on!     

“For fans of black humor, the housing/mortgage meltdown is a gas. A daily visit to www.ml-implode.com will make you feel better about any pain you’re in. And if you’re not in any housing pain, this is one of the few situations in which you get to smile at others’ distress… rarely have so many people done such dumb things.”