Adios, American Home Mortgage

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That was fast. American Home Mortgage Investment is shutting down, and 6,250 jobs will disappear.

Here’s The New York Times’ take on it: ‘In a news release issued last night, American Home Mortgage said that that it would lay off all but 750 of its 7,000 employees ‘in light of liquidity issues resulting from disruptions’ in the secondary mortgage market.’

More: ‘’Conditions in both the secondary mortgage market as well as the national real estate market have deteriorated to the point that we have no realistic alternative,’ Michael Strauss, the chief executive of American Home Mortgage said in a statement.’

Comments? Thoughts?