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- Comments on Roubini Interview
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Yesterday I posted three videos of an interview with Professor Nouriel Roubini on Canadian TV. Professor Roubini believes the U.S. is currently in a recession, and that the recession will be deep and long - “the most severe recession and financial crisis that the US has experienced for decades”…
Original Source: feeds.feedburner.com/CalculatedRisk
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19 Abril, 2008| housingblogs |
Comments (0) @ 22:20
- International City?
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So it seems:April 19 (Bloomberg) — National City Corp., Ohio’s largest lender, may seek capital from private investors or a non-U.S. bank to avoid a takeover by in-state competitors KeyCorp and Fifth Third Bancorp. The bank may seek a transaction that will “enable senior management to keep their jobs and allow thousands of employees at NCC to keep working,” Oppenheimer & Co. analyst Terry McEvoy said in an interview and an e-mail, referring to National City by its stock ticker.
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19 Abril, 2008| housingblogs |
Comments (0) @ 21:46
- WOT 4-19-2008
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Lurker’s Post
For all you readers out there who have never posted before, please say hello. We know you are out there. This is your chance to break the ice…
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19 Abril, 2008| housingblogs |
Comments (0) @ 20:38
- Not Enough Buyers For What’s Built In California
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The Press Enterprise reports from California. “Throughout Riverside and San Bernardino counties real estate agents say that since the first of the year they have seen multiple offers reminiscent on a small scale of the home-buying rush of a couple years ago. The real estate market now is fueled largely by young renters vying for modest homes, many in need of some repairs. The latest buyer frenzy, real estate agents say, is focused on lender repossessed houses priced below $300,000.”
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Original Source: thehousingbubbleblog.com
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19 Abril, 2008| housingblogs |
Comments (0) @ 20:35
- Not Enough Buyers For What’s Built In California
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The Press Enterprise reports from California. “Throughout Riverside and San Bernardino counties real estate agents say that since the first of the year they have seen multiple offers reminiscent on a small scale of the home-buying rush of a couple years ago. The real estate market now is fueled largely by young renters vying for modest homes, many in need of some repairs. The latest buyer frenzy, real estate agents say, is focused on lender repossessed houses priced below $300,000.”
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Original Source: thehousingbubbleblog.com
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19 Abril, 2008| housingblogs |
Comments (0) @ 20:35
- The Road To Financial Disaster With Nouriel Roubini
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Part 1The Road To Financial Disaster, Assessing The DamageCanadian TV - The Agenda w/Steven PankinInterview w/Nouriel RoubiniPart 2Part 3 New York City Housing Bubble - The BIG Picture…
Original Source: feeds.feedburner.com/nychousingbubble
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19 Abril, 2008| housingblogs |
Comments (0) @ 20:31
- Citi exposed to $60 billion in subprime loans - may need more cash
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Citigroup, which posted another whopping $12 billion in mortgage-related write downs, still has exposure to $60 billion in subprime-related loan bets and will likely need to raise additional capital. In it’s quarterly earnings call during which the company announced a $5 billion loss tied to that ridiculous $12 billion disclosed that it still has d…
Original Source: feeds.feedburner.com/typepad
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19 Abril, 2008| housingblogs |
Comments (0) @ 20:00
- A chart for traderboy
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Yesterday, I posted a chart that highlighted the 17 percent fall in gross mortgage lending between March 2008 and the same month last year. One of this blog’s most frequent commenters - traderboy - was impressed but wanted to see how last months numbers stacked up against those from previous years….
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19 Abril, 2008| housingblogs |
Comments (0) @ 17:10
- Vancouver RMLS Market Action Report – March 2008
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The median sale price for March 2008 was $250,000 this is a 5.7% decrease over the median sale price for March 2007.The Vancouver residential real estate market peaked in July 2007 with a median sale price of $269,900. Prices have now fallen 7.4% from that peak.Months of supply (total inventory/monthly sales) is at 11.9 months compared to the 7.0 months of supply in March 2007. A balanced market has between 6 and 8 months of supply.T…
Original Source: feeds.feedburner.com/portlandhousingblogspot
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19 Abril, 2008| housingblogs |
Comments (0) @ 16:57
- Getting Back To The Norm Real Fast In Texas
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A report from Southwest Texas Live. “Is the national lending and foreclosure crisis harming real estate values in Del Rio and Eagle Pass? As with most controversies, it depends on who you talk to. Eagle Pass Realtor® Charlotte Banks is nervous. Her market share of foreclosed homes to sell has increased significantly. ‘I used to have one or two a year, but really have about 15 at any given time now—where they’ve been foreclosed, or they have already moved out and we’re still waiting to get the value on them,’ said Banks. ‘The problem is, you have people moving in with nothing, didn’t even pay their closing costs, they have absolutely no equity.’”
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Original Source: thehousingbubbleblog.com
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19 Abril, 2008| housingblogs |
Comments (0) @ 16:46
- Payback’s a B!tch
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This is a good reminder that our economy is cyclical, with a general 10 year cycle. As the economy was artificially boosted by ultra-low interest rate starting in ‘01, followed by complete loosening of credit in ‘03, we had an additional 5 years of artifical boom. It is unfortunately time to pay the piper….
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19 Abril, 2008| housingblogs |
Comments (0) @ 16:22
- Credit cards bail out the UK economy
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(click on the chart for a sharper image)Could the UK economy be heading towards recession?Recent data hasn’t provided much evidence of an impending slowdown; inflation remains elevated, unemployment is low, while retail sales numbers during first months of this year were reasonably strong. However, the combination of unsecured credit growth coupled with fourth quarter 2007 GDP data could point to a possible weakening of consumption data….
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19 Abril, 2008| housingblogs |
Comments (0) @ 16:19
- Uh, not sure if you noticed, but oil just hit $117. Thank you George Bush. Thank you Dick Cheney. Thank you Ben Bernanke. Thank you gas guzzlers.
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$117.Wow.OilPANIC?At one point soon, some folks (think Wal-Mart worker) are gonna have to decide whether they’re better off driving to work, or just not working. And those far-flung homes in places like Maricopa Arizona? Getting more and more worthless by the day….
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19 Abril, 2008| housingblogs |
Comments (0) @ 15:59
- LIBOR Rate Apparently Rising In Response To BBA Investigation
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From the Wall Street Journal this morning- this is worth watching:
A sharp and unexpected rise in a widely used interest rate is threatening to add billions of dollars to the interest bills of homeowners, companies and other borrowers around the world.
The London interbank offered rate jumped for the second straight day Friday — two days after the British Bankers’ Association, which oversees the calculation of the interest rate, said it was investigating the borrowing rates that banks had been providing to it….
Original Source: housingdoom.com
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19 Abril, 2008| housingblogs |
Comments (0) @ 15:30
- Another look at downtown L.A.
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Backstory: About five weeks ago the L.A. Times ran a controversial piece about downtown real estate, pointing out "signs that downtown’s residential boom is slowing, if not stalling out altogether." I say controversial because the story unleashed a…
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19 Abril, 2008| housingblogs |
Comments (0) @ 14:39
- Tree of the Week: Camphor
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I’m happy to report that Pieter Severynen’s "Tree of the Week" is back after a week off. Welcome back, Pieter.The Camphor Tree – C…
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19 Abril, 2008| housingblogs |
Comments (0) @ 13:54
- Bits Bucket And Craigslist Finds For April 19, 2008
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Please post off-topic ideas, links and Craigslist finds here.
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Original Source: thehousingbubbleblog.com
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19 Abril, 2008| housingblogs |
Comments (0) @ 13:17
- We’re All Busta Now
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Our Brian forwarded this email to me yesterday, and I haven’t stopped chuckling yet. It’s very well done and certainly appears to be a legitimate “memorandum” from Accredited. Apparently no one has yet managed to get it posted on Accredited’s website, which would formalize the joke nicely, but that’s no reason not to share it:April 18, 2008 - San Diego , CA Accredited Home Lenders is pleased to announce the promotion of Miss Helen Busta to the newly created position of Chief Advisor of Things Both Relevant and Interesting in the Non-Conforming Loan Market….
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19 Abril, 2008| housingblogs |
Comments (0) @ 12:57