Goldman Sachs paints bleak picture for housing, financials

Goldman Sachs paints bleak picture for housing, financials

www.reuters.com

NEW YORK (Reuters) - Goldman Sachs issued a gloomy report on the U.S. financial services sector, saying housing prices are likely to fall a lot further, write-downs will mount and some mortgage insurers and guarantors will be forced to raise capital just to survive.

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This is just the tip of the iceberg. Pray OPEC doesn't drop the dollar or our economy is going to end up like the Titanic.

www.reuters.com
(visit the link for the full news article)

I agree. I've been watching this pan out ever since the massive lay-offs acrossed the whole mortgage sector. The quick buck you could once make in buying a home and turning it around is more than over but still deteriorating.