Builders' problems are now threatening losses for small and medium-size regional banks. Muscled out of the mortgage business by large national lenders, many of these banks flocked to construction lending as the housing market boomed. Though these institutions were generally less exposed to the subprime-backed securities that have generated billions of dollars in losses for national banks, they are the front-line casualties when builders and developers can't make their payments.
Delinquencies on loans to build single-family houses reached 7.5% of the value of all such loans in the fourth quarter, up from 2.1% a year earlier, according to Foresight Analytics, an economic and real-estate research firm. There's likely more pain ahead. The Commerce Department reported this week that permits for new housing construction, a barometer of future building activity, fell 7.8% in February to the lowest level in 16 years. Also this week, the Federal Deposit Insurance Corp. said it had "increased [its] overall concern" about banks with high concentrations of construction loans, particularly those for residential developments, its strongest warning to date about these banks.
ya mean that bad stuff where this company hasn't had any stock appreciation for 10 years and under performed its peers? Oh , ya mean that OTHER stuff that you cut and paste about OTHER companies in order to hide the truth. Sort of like how Bush explained the war: deflect, deflect, deflect. Truth hit him in the face and ya too. So Paste away buddy, paste away. Truth will continue to hurt.
I saw that too. Its just yet another example of BBT telling it like it is. Knowing you are going to hear the truth from the BBT leaders is what we call excellent.
oh, and by the way, I guess you missed the part where those periods end on January 31, 2008. BBT out performed the peer group the last 1,3,5,10,and 15 years.
Always depend on BBT to tell the truth, and perform well over the long term, its just another example of excellence at work.
what's the matter stil, somebody say something that gets you, eh. have to do the old merrill lynch cut and paste eh? hehehehehehe. let's try a comment on the facts...right on.
"Early analyst calls (YHOO) (BAC)
Posted Mar 25th 2008 7:25AM by Douglas McIntyre
Filed under: Before the bell, Analyst upgrades and downgrades, Yahoo! (YHOO), Bank of America (BAC), CIGNA Corp (CI)
JP Morgan cut Philips (NYSE:PHG) from "overweight" to "neutral" according to MarketWatch.
Merrill Lynch downgraded Bank of America (NYSE:BAC) from "neutral" to "sell" according to Briefing.com. The news service also writes that Citigroup upgraded Yahoo! (NASDAQ:YHOO) from "hold" to "buy".
Silly Stillie what happened. Got my hands on a BBT annual report today. It seems that BBT has underperformed both their chosen peer group and the S&P 500. It looks like BBT has not performed as well as their peer group or the S&P 500 for any year from 12/02 thru 12/07.
Overall total return including reinvestment of dividends is below both their chosen peer group and the S&P 500 returns for 5 straight year ends.
Guess that leaves a question about buying some for short term and some for long term holding. S100 invested 12/02 was worth $100.17 on 12/07.
Hey Jimmie, what part of repeating what someone else says did you miss? Knocking it has been done well by them to their customers, and I supose some of them care. You know, a billion here and a billion there pretty soom it adds up. Hope you bought at $26 and up like I did