Tuesday, April 17, 2007

More Lender Layoffs Hit Sacramento

From the Sacramento Business Journal:

Aegis Lending Corp. shut its Sacramento lending office on April 6 letting about 25 employees go. The move by the Houston-based company was part of an overall repositioning of the company, said a company spokesman.
...
As recently as February, the Sacramento office had been seeking new employees. The Sacramento Aegis office, which was in South Natomas, focused on subprime lending.
Hat tip: Bakersfield Bubble

5 comments:

Patient Renter said...

Anyone stopped by Lockwood's site yet? Check out this post, attempting to discredit bubble blogging and the theory of price depreciation. This guy is so ridiculous I'm not sure where to start:

http://www.sacramento-home.com/real-estate-events/2007/the-little-bubble-that-couldnt_449.html

Perfect Storm said...

Yeah that 10% down in price he talks about is oveall, if you bought in the hood in 2005 your already down 20% to 25%. Such a fool this is only the beginning.

Gwynster said...

That's some serious glue huffing he has going on over there.

Part of me wants to blow a giant hole in his data and the other part of me thinks that anyone who buys into his logic is beyond hope and should be left to their own devices.

I used to get really worked up over the RE situation and REidoits JL. Now I just smile and wait because it's a juggernaut at this point. No way to turn it around now that it's gained momentum.

Patient Renter said...

"Part of me wants to blow a giant hole in his data and the other part of me thinks that anyone who buys into his logic is beyond hope and should be left to their own devices. "

That is true. It's sleazy though because it's clearly misleading and he stands to profit from it. Sleaze is hard to ignore.

Gwynster said...

PR,

I've been tracking the bubble since 98. I just didn't know what I was seeing until I came across Patrick.net and Ben's blog.

I had been banging the affordibilty drum on economic fundementals that whole time. The people most involved in don't want to see what is happening around them and I'm tired of smacking my head against the barn door.

I know it doesn't speak well of me and my actual concern for my fellow man but frankly - let'em choke. I've had the care beaten out of me.