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<p>That's not too bad. I'd guess the insurance here would be oh, say 3-4 times that. They won't insure a house without windstorm; whereas I understand that you can get homeowners without earthquake insurance there. Correct me if I'm wrong. My house is insured for about 289 or so (most of the property's value is in the acreage.) and at the moment the insurance is five grand, but after an inspection, the charge will probably come down a grand. Our deductible is 2%, but we are only insured for 80 of the building. Which means that if it's only 80% destroyed, we get the whole amount, less the deductible.</p>

<p>Oops, your hypotheical house is probably uninsurable here. Most insurers won't insure all wood houses. It's ok to have an upper floor made of wood, which is how my house is built. Theoretically, you can have a wood house that is just as strong as a CBS house, but that's if you can get good quality construction. Hah. Janet Reno's all wood house, built by her dad, stood up to Andrew just fine, tho it wasn't in the worst area. Also, you have to maintain them, and make sure they aren't lunch for termites.</p>

<p>Wood is more resistant to earthquakes?</p>
 
<p>To a South Florida (actually an anywhere Florida) insurance shocked person, that still doesn't sound to be too much. If you are totalled every hundred years that's $400,000 total and then you have to do some sort of net present value calculation, 'way beyond my capabilites, and then you have to pay administration costs and profits, and then you have to pay to rebuild a million dollar house. And there would be guesstimates on how much interest you would get on your 400 grand, part of the net present value. </p>

<p>The vast majority of my premium is for windstorm. The rest is piddling. And none of us dare to make a claim for theft, etc, for fear of being cancelled. </p>

<p>And we don't have the choice of not insuring for windstorm; we asked, since we don't have to appease a lender any more.</p>
 
<p>LONDON <a href="http://www.reuters.com/article/ousiv/idUSL1123464420071111">(Reuters)</a> - Europe's biggest bank HSBC Holdings is this week expected to unveil a further big hit from its exposure to the U.S. mortgage crisis. HSBC Finance, the unit formerly called Household, will unveil third-quarter results on Wednesday. The Sunday Telegraph newspaper said HSBC will reveal a new $1 billion hit in the results. But the figure could be higher than that as losses from the run-off of the U.S. mortgage book was about $2 billion in the second quarter and the market has deteriorated since then, analysts have said.</p>
 
<p><a href="http://www.reuters.com/article/reutersComService4/idUSN0937239020071109">Mortgage REITs likely targets in credit crunch</a></p>

<p>NEW YORK (Reuters) - Deep-pocketed investors who want to enter the U.S. mortgage business may find ready sellers as mortgage real estate investment trusts (REITs) that straddle distressed property and capital markets are under mounting pressure to do deals.</p>
 
Well, it looks like if you had put a few thou on the line on Friday, then you would be really happy on Monday, from <a href="http://tinyurl.com/29t9tb">what happened there today</a>.
 
I would compare shorting the Chinese equity markets to trying to stop a locomotive. You might get lucky and make some big jake, but it seems like alot of risk to me. I am kind of a chicken type of investor.<p>

Gold and silver are making some big dips on the Tocom tonight.<p>

And then again, the last time I gave specific investing advice to someone in here, it didn't go too well.
 
<p>HSBC to write down an extra $1 billion: report</p>

<p><a href="http://www.marketwatch.com/news/story/hsbc-write-down-extra-1/story.aspx?guid=%7B395DDABA%2DEB77%2D411E%2DA8A0%2D3113C9DD2AF8%7D&dist=hplatest">http://www.marketwatch.com/news/story/hsbc-write-down-extra-1/story.aspx?guid=%7B395DDABA%2DEB77%2D411E%2DA8A0%2D3113C9DD2AF8%7D&dist=hplatest</a></p>

<p> </p>
 
Awgee--



I bought the gold & silver for survivalist reasons, not to make money, tho that would be nice.



I only intend to risk a tiny bit.



Had I asked, I'm sure the Merrill guy would have told me to hang onto Gamestop and IBM.



I think the Chinese are goin' down with us at least for a while. The thing is, you can hold on long until the equity ceases to exist, but not short.



I too, am a chicken investor, for the most part, which is why I still have some money.
 
lawyerliz - It seems to me gold and silver have some more potential for correction, and although it is not fun to see red in my account, I am not concerned. I am thinking of long term wealth preservation. My dad thinks I am psychic because I told him last week to get all of his funds out of e*trade. It is fun to appear omnipotent, so I will just let him think what he wants. (he-he)
 
How come we haven't heard much about the Yen Carry Trade lately? Noticed the current exchange rate is 109 Yen per dollar today, which was supposed to be beyond the point the carry trade must unravel.
 
It already unraveled... see the asian markets and their closing numbers. It may drop farther, but it's been unwinding since July and for right now it looks to have hit a plateau.
 
OpointO - I am hearing about it. But it is wierd that both the yen and the USD got stronger on the same day. Unless some unwinding is causing some more credit crunch/deflation.
 
<p class="story">"The mortgage black hole is, I think, worse than anyone saw. Deeper, darker, scarier. [The banks] are now looking at new reserves and my sense . . . is they don't have a clear picture of how this will play out and confidence is low."</p>

<p class="story">However, he said that subprime mortgage prices were reaching a point where they offered "real value". Blackstone is more interested in buying mortgages themselves than home lenders, he said.</p>

<p class="story"><a href="http://us.ft.com/ftgateway/superpage.ft?news_id=fto111220071730253137&page=1">source</a></p>

<p class="story"> </p>
 
<p>Carnage on Wall Street as loans go bad.</p>

Losses reported so far

Citigroup: $11bn

Merrill Lynch: $8bn

Morgan Stanley: $3.7bn

Bear Stearns: $3.2bn

UBS: $3.4bn

Deutsche Bank: $3.2bn

Credit Suisse: $1bn

Wachovia: $1.1bn

IKB: $1bn:



<p><a href="http://news.bbc.co.uk/2/hi/business/7086909.stm">http://news.bbc.co.uk/2/hi/business/7086909.stm</a></p>

<p> </p>
 
No GS yet





Deutsche & Bear Sterns were Aggressive purchasers of neg am loans. My bank sold almost exclusively to DB





Wachovia owns World Savings, which did NOT sell most of their mortgages, so that crap is on their books
 
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