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- The National Association of Homebuilders, who cut off funding to their poodles in Congress a few months ago, get their little bitches back in line
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Ah, ya gotta love our Senate. The best that the REIC could buy. Harry Reid? Corrupt. Chris Dodd? Corrupt. Mitch McConnell? Corrupt. Chuck Schumer? Corrupt….
Original Source: bp2.blogger.com
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2 April, 2008| housingblogs |
Comments (0) @ 23:45
- So now we know how close we came to a complete and total meltdown of the global financial system as Ben Bernanke spills the beans. So, who’s next?
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“Too Big to Fail”You’ll be hearing a lot of that in the next weeks, months and years.Fannie. Freddie. Lehman. Washington Mutual. Countrywide. IndyMac. Ambac. Sallie Mae. FHLB. Pulte. BofA. Wells Fargo. Merrill Lynch. Goldman Sachs. Hell even Home Depot. Too big to fail. Big Daddy Government will be there for you, dishing out trillions to keep the Big Lie alive….
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2 April, 2008| housingblogs |
Comments (0) @ 23:41
- More on the tax break for builders
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A number of you have questioned whether a tax break for homebuilders is accurately described as a bailout. Let me make a few points as we continue the discussion.
–The New York Times calls the proposal "a break for struggling home-builders, allowing them to claim
current losses against taxes paid in earlier, more profitable years.
This provision, intended to aid home-builders, w…
Original Source: feeds.latimes.com
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2 April, 2008| housingblogs |
Comments (0) @ 23:35
- $38 Billion Dollar Bailout
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NAR Existing Home Sales Estimate (February 2008) - 5,030,000 (1)
Census New Home Sales Estimate (February 2008) - 590,000 (2)
Total Home Sales Estimate - 5,620,000
Less ineligible existing homes - 1,666,000*
Less ineligible new homes - 195,000*
*(Total investment/vacation homes (3) + nonconforming homes - fraud)
Total eligible sales - 3,759,000
Tax credit per sale - $10,000
Total cost - $37,590,000,000…
Original Source: njrereport.com
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2 April, 2008| housingblogs |
Comments (0) @ 23:33
- Washington’s housing fix
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Senate Democrats and Republicans, under pressure in an election year to do more about the housing crisis, worked over night to draft a bipartisan housing stimulus bill that could be debated as early as Wednesday evening.
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Original Source: money.cnn.com
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2 April, 2008| housingblogs |
Comments (0) admin @ 23:01
- Average Manhattan home hits record
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Manhattan apartment prices hit fresh record highs in the first quarter of 2008, even as the rest of the country was reeling from the mortgage meltdown.
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Original Source: money.cnn.com
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2 April, 2008| housingblogs |
Comments (0) admin @ 22:59
- Triad Troubles
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Someone we know is fond of remarking that it isn’t really a credit crunch until a mortgage insurer goes down.Ahem.NEW YORK (AP) — Triad Guaranty Inc.’s stock plunged Wednesday after the mortgage insurer disclosed it is considering a plan to stop writing new business. . . .In its annual report, Triad said it has hired a financial adviser to figure out how to raise more cash. The company must “significantly augment” its capital cushion by the middle of the year, Triad said….
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2 April, 2008| housingblogs |
Comments (0) @ 21:38
- Real Homes of Genius: Today we Salute you Covina. Banks Learn a Lesson in Mark to Reality and the $300 Billion FHA Bailout.
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We are once again firmly in Wonderland and falling deeper into the rabbit hole as the market is responding to negative news as if it just won a Powerball contest. On Monday, UBS AG announced another $19 billion in writedowns putting it firmly in the lead of all those in the writedown 500. The race of course is dominated by investment banks and each writedown simply is a reflection of poorer performing mortgage assets;, aka Real H…
Original Source: feeds.feedburner.com/DrHousingBubble-HowILearnedToLoveSocal
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2 April, 2008| Uncategorized |
Comments (0) @ 21:07
- All aboard: Foreclosure bus tours in the Inland Empire
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News item: Foreclosure bus tours, already a media favorite in other parts of the country, are coming to the Inland Empire.From Robert Espinoza at R…
Original Source: latimesblogs.latimes.com
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2 April, 2008| housingblogs |
Comments (0) @ 20:56
- Washington’s housing fix taking shape
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Senate Democrats and Republicans, under pressure in an election year to do more about the housing crisis, worked over night to draft a bipartisan housing stimulus bill that could be debated as early as Wednesday evening.
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Original Source: money.cnn.com
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2 April, 2008| housingblogs |
Comments (0) admin @ 20:39
- The Day The Subprime Died
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I was slumming again this afternoon . . . here’s your daily dose of amusement.And yes, the comment thread to that post makes me realize how lucky I am. Most of the time.
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2 April, 2008| housingblogs |
Comments (0) admin @ 20:23
- Realtor Audit: Cheri Smith
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From Bend Realtor Cheri Smith:I am tired of all the negative press about our real estate market so I was really excited to get an email this morning about the new marketing campaign being launched. The combined efforts of the Central Oregon Chamber of Commerce,C…
Original Source: bp1.blogger.com/_oV8ecn5wrfg/R-VhbzC_57
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2 April, 2008| housingblogs |
Comments (0) @ 20:21
- Stare Down: who blinked first? The loan officer or the borrower?
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You know the drill. You and your siblings pile in your parent’s 1982 Chevrolet station wagon for the long 10 hr. drive to the summer vacation hot spot. Lots of games took place and many were invented to pass the time: Hold your breath through the tunnel, Stratego (tough in a bumpy ride), card games among others and the grand-daddy….Stare Down!
Stare Down is when you and your brother or sister touch nose-to-nose, staring into each other’s eyes to see who blinks first and loses the game. In real estate, there are times when questions arise that create that same type of tension. I’ve written over at Rain City Guide about a variety of issues that deal with transactional problems. Some topics are based from experiences our office has had, other topics from discussing transactions with other colleagues in the escrow business. The hope is for those real estate professionals to look inward to challenge them on effective ways to create smooth transactions.
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Original Source: feeds.feedburner.com/SeattleBubble
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2 April, 2008| housingblogs |
Comments (0) @ 19:41
- A Good Idea Gone Bad
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The Daily Press reports from Colorado. “It is true. Foreclosures have increased in Montrose County. The total number of sales in the area are down. Home values have also decreased and there is a larger buyers market than ever before. Montrose native Dave Weber bought his house about three years ago. He knew the house needed repairs, but he never figured that additional construction projects, plus some unexpected medical emergencies would put him in the position he is in now — foreclosure.”
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Original Source: thehousingbubbleblog.com
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2 April, 2008| housingblogs |
Comments (0) @ 19:31
- S&P: Spain, U.K. Housing Corrections Could be "Severe and painful"
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Via CNNMoney: U.K., Spain housing markets face major corrections - S&P Standard & Poor’s Ratings Services said Europe’s housing markets are finally, and overwhelmingly, turning down.’And in those countries where the housing bubbles have been expanding for longer, Standard & Poor’s believes the corrections could be severe and painful,’ the agency added. …
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2 April, 2008| housingblogs |
Comments (0) @ 19:25
- Flip-flop in progress? Paulson now ‘flexible’ on bailouts
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It appears Treasury Secretary Henry Paulson’s brief tenure as the administration’s chief critic of foreclosure bailouts is coming to a quiet end.You will remember it was Paulson (pictured) who called bailout plans a "nonstarter," saying &…
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2 April, 2008| housingblogs |
Comments (0) @ 19:19
- Struggling National City looks to sell itself
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National City is looking to sell itself as it struggles to remain viable in the face of mounting mortgage-related losses and a nose-diving stock price. The company has vigorously tried to stave off the effects of souring loans apparently to little avail. (h/t Don) I wonder if they’ll get more than $2/share out the initial offer? They’ll likely not get $10 as their stock price hovers around $9.90 at the time of this posting.
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Original Source: feeds.feedburner.com/typepad
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2 April, 2008| housingblogs |
Comments (0) @ 19:04
- Taos Center for the Arts - April 2, 2008
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Taos Center for the Arts
April 2, 2008
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Original Source: galleryrealtyoftaos.com
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2 April, 2008| housingblogs |
Comments (0) @ 18:51
- Manhattan Condo, Co-op Sales Decline Most In 18yrs
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Manhattan Condo, Co-op Sales Decline Most in 18 Years by Bloomberg - snips:Manhattan apartment sales plunged the most in 18 years in the first quarter as buyers faced the prospect of a recession and job cuts at Wall Street securities firms. Sales fell 34 percent from a year earlier and inventory rose 4.6 percent to 6,194 units…
Original Source: feeds.feedburner.com/nychousingbubble
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2 April, 2008| housingblogs |
Comments (0) @ 18:50
- Parks Gallery Art Talks
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Parks Gallery are hosting a series of Art talks for the Ski Season.
The talks will be held every Thursday at 5pm-5.45pm in the Edelweiss Clubroom. Admission is free. Please pass the word to all guests and visitors. Admission is free!*
Regards /Taos Ski Valley Chamber of Commerce/ /P.O. Box 91/ /Taos Ski Valley NM 87525/ /1-800517-9816/ /(505) 776-1413/
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Original Source: galleryrealtyoftaos.com
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2 April, 2008| Uncategorized |
Comments (0) @ 18:23