Naked capitalism has so many good articles. Thought I needed to share this link as I constantly scour the net for impending P3 catalysts. Here is another.
My favorite part - "Thus, there could be a spike in foreclosure auctions later this year and well into 2010. Assuming ’09 is the peak year for tax lien auctions (i.e., there will be fewer delinquent property owners next year than this year) that might mean that the Maryland housing market – especially in high delinquency regions like Baltimore city – could begin to really bottom over the course of the next year. In other words, these lien owners could force the system to purge itself of its excesses more so than the banking system or the government will."
The link is in the title of this post.
Enjoy.
Shanky,
ReplyDeleteI know you know these, but my top 10 possible candidates to cause P3 are:
1)toxic assets blowing up one or more major banks, here or abroad
2)economic crises erupting overseas (Eastern Europe? Russia? Asia?)
3)commercial real estate collapsing
4)home foreclosure auctions (like you posted)
5)credit cards defaults and other consumer debt delinquencies
6)a political crisis, here or abroad
7)a terrorist attack (God forbid!)
8)a terrible natural disaster
9)a state, city, or major corporate bankruptcy
10)the cumulative pressures of all current & future economic problems (for example, increasing unemployment + falling spending by consumers and corporations + stock prices topping too high or falling too much + etc.)