Real estate stocks report sad results
Inman Index: IndyMac, Freddie Mac and ZipRealty defy downward spiralBy Marcie Geffner, Tuesday, September 4, 2007.
Countrywide, Countrywide, Countrywide.
That was the mantra for real estate stocks in August as the giant mortgage banking company took investors on a roller-coaster ride. Shares opened Aug. 1 at $27.22 and closed 30 days later at $19.85, a loss of 27 percent.
Countrywide's widely reported ups and downs seemed to overshadow positive developments at smaller IndyMac Bank.
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