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- Ya Think The Economy Will Recover By 2Q07?
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“I suspect that we are coming to the end of this downtrend, as applications for new mortgages, the most important series, have flattened out. I don’t know, but I think the worst of this may well be over.” - Alan Greenspan, October 6, 2006George Soros Says Credit Crisis Will Worsen Before Improving…
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10 April, 2008| housingblogs |
Comments (0) @ 23:53
- Taking Away The Comfort Zone In California
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The Wall Street Journal reports on California. “While tighter lending standards have cut off all but the most credit-worthy borrowers from auto loans and home loans, many people are turning to credit cards and tapping more of their home-equity lines of credit to dig themselves in deeper. Theresa Leick of San Juan Capistrano, Calif., a loan processor, pulled $21,000 from her available home-equity line of credit in February to park in a certificate of deposit.”
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Original Source: thehousingbubbleblog.com
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10 April, 2008| housingblogs |
Comments (0) @ 23:42
- Krugman: Crisis "Not Over Yet"
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This is the TED spread for April 10th from Bloomberg.Professor Krugman writes Not over yet”Gurk. The TED spread …
Original Source: bp1.blogger.com/_pMscxxELHEg/R_6EzWlQGI
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10 April, 2008| housingblogs |
Comments (0) @ 22:17
- Hope Now’s numbers add up to little
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Lenders have helped nearly 1.2 million troubled home owners as part of a Bush-administration led housing rescue effort, according to numbers released Thursday by the Hope Now coalition.
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Original Source: money.cnn.com
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10 April, 2008| housingblogs |
Comments (0) @ 22:02
- American Idiots
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[youtube] M5mjN32G1iI [/youtube]
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The National Association of Realtors hopes that the American sheople are American idiots. They control the media message nearly everywhere, and they constantly push their self-serving agenda: it is always a good time to buy or sell and generate a commission. Unfortunately, you can’t even find the truth in newspapers anymore. Does anyone think the OC Register would be willing to write stories about how and why the market is tanking? If they did, I suspect their real estate advertising section would get a lot smaller. People come to the Irvine Housing Blog because we tell them the truth about falling prices, and we explain why prices will continue to fall. Last week I wrote a post called I…
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10 April, 2008| housingblogs |
Comments (0) @ 20:30
- We Need To Have This Correction, Bring It On
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Some housing bubble news from Wall Street, Washington and beyond. AP, “The U.S. economy has “turned down sharply” and is at risk for further weakening, US Treasury Secretary Henry Paulson said. Paulson also called it a ‘disgrace’ that there hasn’t been any legislation to reform oversight of Fannie and Freddie. And he said financial institutions shouldn’t look to government to raise capital but should raise it on their own.”
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Original Source: thehousingbubbleblog.com
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10 April, 2008| housingblogs |
Comments (0) @ 19:31
- Forget This House–It’s NOT For Sale After All (Update)
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Posted By:Diana OlickUpdate: Oops..seems this isn’t real after all. The email that got sent around has been exposed as a fraud according to an article in the New York Daily News. This house is in Toronto and NOT for sale. …
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10 April, 2008| housingblogs |
Comments (0) @ 19:25
- Treasury: On Pace for Record Budget Deficit
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From AP: The Treasury Department says the federal deficit through the first half of this budget year is at an all-time high, underscoring the pressure the budget is coming under as the economy slumps. The $10 Trillion man contest is on!
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Original Source: feeds.feedburner.com/CalculatedRisk
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10 April, 2008| housingblogs |
Comments (0) @ 19:20
- Hope Now: 1.2 million mortgage borrowers helped
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Lenders have helped 1,178,000 troubled home owners as part of a Bush-administration led housing rescue effort, according to numbers released Thursday by the Hope Now coalition.
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Original Source: money.cnn.com
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10 April, 2008| housingblogs |
Comments (0) @ 18:54
- Senate Passes Bill with Builder Tax Breaks
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From Reuters: Senate backs tax break-focused housing rescue bill At a cost of $15 billion over 10 years, the Senate bill would give a $6 billion tax break to home builders by temporarily extending a rule that lets businesses count current losses against taxes from prior profitable years.Home builders such as Pulte Homes and KB Home would benefit from this proposed two-year extension of the net operating loss carry-back rule, according to analysts….
Original Source: feeds.feedburner.com/CalculatedRisk
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10 April, 2008| housingblogs |
Comments (0) @ 18:28
- Bend Real Estate Falls Off Cliff
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From the Bend Bulletin:Median home sales prices in the first three months of 2008 fell almost 12 percent in Bend and 14 percent in Redmond from the first quarter of 2007, according to a report Wednesday from the Central Oregon Association of Realtors.Bend’s median sales price — the price at which half the homes sold for more and half for less — for single-family homes on less than an acre was $306,500 in the quarter. Redmond’s median was $220,000.E…
Original Source: feeds.feedburner.com/portlandhousingblogspot
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10 April, 2008| housingblogs |
Comments (0) @ 17:46
- Tax break for builders: "perverse, absurd, unwarranted"
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The main housing debate in our nation’s great sausage factory is over write-downs, or cram-downs: should lenders be encouraged (forced?), to write down bad mortgages, and if so, under what terms, and what possible benefits? And where do the new mortgages come from, and who is on the hook for them?
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10 April, 2008| housingblogs |
Comments (0) @ 17:34
- Making choices when there is nothing to choose
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Today’s interest rate announcement from the MPC was an extraordinary piece of contorted logic. Inflation is rising, but the UK still needs an interest rate cut. Here are a few quick observations from me….
Original Source: bp0.blogger.com
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10 April, 2008| housingblogs |
Comments (0) @ 17:22
- Senate passes foreclosure bill
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The Senate has passed a bipartisan measure aimed at boosting the housing market and easing the threat of foreclosures.
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Original Source: money.cnn.com
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10 April, 2008| housingblogs |
Comments (0) @ 17:17
- MRIS Numbers for March 2008 in Baltimore DC Area
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The new monthly numbers for March2008 are out from the MRIS (Metropolitan Regional Information Systems) the multiple listing service for the area. YoY = Year over Year, that is the comparison between March 2008 and March 2007. These numbers include all housing units ( not just single family residences but also condos and co-ops). These are for housing units listed on the MRIS’s …
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10 April, 2008| housingblogs |
Comments (0) @ 17:06
- Maintaining a good FICO score
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This post is from the Blown Mortgage Hall of Fame. It originally appeared back in July 2007 on my series on credit. Now more than ever your credit score is vital to securing financing. I’m on vacation from Saturday until Tuesday the 15th so enjoy some of the classics while I’m gone.
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Original Source: feeds.feedburner.com/typepad
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10 April, 2008| housingblogs |
Comments (0) @ 17:04
- Savor this one, borrowers: The Mortgage Bankers Association is feeling the credit crunch
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Great article this past weekend in the Washington Post (maybe not as great as the six 2008 Pulitzer winners, but still great) about how the Mortgage Bankers Association is being squeezed by higher borrowing costs on its new $100 million headquarters.
Here’s a link.
Says the Post writer, Jeffrey H. Birnbaum: “Scheduled to close on the building in the coming weeks, the association will have to pay millions of dollars more than it would have a year ago when it contracted to buy the 160,000-square-foot structure — millions of dollars it is now less able to afford.”
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10 April, 2008| housingblogs |
Comments (0) @ 16:48
- Phoenix Foreclosures: If Not A Crisis, Pretty Close To It
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Phoenix can take comfort, I guess, that the foreclosures in some other markets are worse:
More than 4,000 notice of trustees sales, the first step in the home foreclosure process, were recorded in Maricopa County in March, but the area is not facing a crisis, according to D…
Original Source: housingdoom.com
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10 April, 2008| housingblogs |
Comments (0) @ 16:43
- The big risk in the foreclosure fix
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At the center of all of Washington’s efforts to rescue the battered housing markets is the formerly obscure Federal Housing Administration.
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10 April, 2008| housingblogs |
Comments (0) @ 16:22
- Shark attack
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Today’s interest-rate reduction illustrates just how distorted economic policy has become. Inflation is rising; the exchange rate is dropping like a stone; and economic growth, at least for the moment, remains comparatively strong. In short, as far as the real economy is concerned, there is no justification for reducing rates….
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10 April, 2008| housingblogs |
Comments (0) @ 16:11
