Archive for March, 2007
Yet again to day more and more news that the US Real Estate housing market continues to slide. Today it was announced that New Century (An Irvine, CA) Mortgage lender is under investigation for helping to drive the US housing boom as a sub-prime lender. Now with many of the borrowers defaulting New Century is having trouble meeting payments and possibly could be close to facing bankruptcy. The article here explains how New Century stock slid over 97% in the last year leading to the delisting on the NYSE.
Casey Serin was actually on the news you can see the video here.