2 Comments to 'Mortgage meltdown hits home'
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Green Bank warns of residential loan trouble
Shares of Green Bankshares, the parent company of GreenBank, plunged Thursday after the company revised its fourth quarter earnings estimate and withdrew full-year 2008 guidance because of “credit quality concerns related to the deterioration in residential real estate loans primarily located in its urban markets.”Shares of the Greeneville-based company were down more than 31 percent in late-morning trading.
John Becker will be talking about the mortgage crisis and its local impact on WBIR’s Inside Tennessee this weekend (9:30 am on Channel 10). Our guests will be Kristin Abouelata of Mortgage Investors Group and realtor Scott Frith. Panelists will be Dennis Francis, Don Bosch, Jack McElroy and Susan Richardson Williams.
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Thanks for the shout-out, Katie! Looking forward to it!
It’s interesting to see how many people hate the “dreadedd developer”, but look at the housing market and how it affects many layers of business and jobs. From the general laborer to plumbers to the Bankers to the entrepreneurial homebuilders, the housing market cn positively or negatively affect a large group of people. Yet, when Knox County and the development community wanted to keep cost DOWN by using appropriate Stormdrain Pipe, and NOT CONCRETE, the community was BULLIED by the City of Knoxville into raising prices and thus started beating an economic market while it was down! Thanks Mayor Haslam and City Council….I mean, concrete special interest groups! That’s smarts!