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- More Dilution for Citi and HBOS Shareholders
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The WSJ reports: HBOS Sets $8 Billion Rights Issue HBOS PLC announced a £4 billion, or roughly $8 billion, rights issue designed to bolster the bank against a worsening market and repair the lender’s capital base following write-downs…. The price is 45% below Monday’s closing share price of 496 pence. Ouch. A 45% discount!And from MarketWatch: C…
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30 April, 2008| housingblogs |
Comments (0) @ 3:07
- S&P Downgrades $41 Billion mostly Alt-A Deals
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From Reuters: S&P cuts $41 bln of mostly higher-rated Alt-A deals Standard & Poor’s cut the ratings on about $41 billion of mostly higher-rated U.S. residential mortgage-backed securities backed by so-called Alt-A loans on Tuesday.The rating agency’s action affected 2,183 RMBS classes from 334 Alt-A deals originated during 2006. And here is a key statement on foreclosures and REOs: “…
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30 April, 2008| housingblogs |
Comments (0) @ 0:50
- And then people figured out living 50 miles away from work was really, really stupid
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You’re going to be shocked at how high gas prices will go.You’re going to be shocked at how worthless homes in the Wal-Mart exurbs will get.
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30 April, 2008| housingblogs |
Comments (0) @ 0:19
- It’s Not A Subprime Crisis- It’s A Consumption Crisis
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From Minyanville today- a great quote ofnthe current "crisis": [Thanks L!]
Unlike many, I have never thought that the U.S.’ current crisis was a “subprime” crisis, or even a more-broad mortgage crisis. No, to me, this has been and will continue to be an evolving consumer consumption crisis which started with the largest and most leveraged consumer asset (housing) and the weakest population of consumers (subprime borrowers)….
Original Source: housingdoom.com
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30 April, 2008| housingblogs |
Comments (0) @ 0:17
- King 5 Evening Magazine: Real Estate Week
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Just a quick note to let you know that King 5 Evening Magazine will be airing a series of segments this week under the banner “Real Estate ‘08,” which as you can guess, are all about the local real estate market. You can catch the segments on their website, or on TV from 7:00 to 7:30. Yesterday’s stories looked at b…
Original Source: feeds.feedburner.com/SeattleBubble
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30 April, 2008| housingblogs |
Comments (0) @ 0:00
- Home Prices Plunge Again, Deliquencies & Foreclosures Accelerate
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Home Prices in U.S. Fall 12.7%, Most Since 2001 by Bloomberg - snips:Home prices in 20 U.S. metropolitan areas fell in February by the most on record, pointing to an imbalance between supply and demand that shows no sign of ending. The S&P/Case-Shiller home-price index dropped 12.7% from a year earlier, more than forecast…
Original Source: feeds.feedburner.com/nychousingbubble
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29 April, 2008| housingblogs |
Comments (0) @ 23:58
- The Boom Has Turned Into A Bust For Many
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The San Francisco Chronicle reports from California. “Like a brick cast from the top of the Transamerica Pyramid, national and local home prices are rapidly accelerating on their way down. The average cost of a Bay Area home dropped 17.2 percent year-over-year in February, compared to 13.2 percent in January and 10.8 in December, according to the Standard & Poor’s/Case-Shiller report released Tuesday.”
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Original Source: thehousingbubbleblog.com
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29 April, 2008| housingblogs |
Comments (0) @ 23:57
- Town of Taos News Brief #40, April 29, 2008
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1) National Guard Training for “First Responders” May 5-9 in Taos
With a full scale training exercise planned for Taos on May 7th, and many other activities scheduled for May 5-9, the 64th Civil Support Team, New Mexico National Guard G Unit, will be in the area conducting first responder training programs as continuing education for the area’s already well-prepared teams. This will be the 7th full scale exercise for the area, according to National Guard Cpt. Robert Aguilar, Robert.aguilar@us.army.mil. Northern New Mexico first responders will be participating, including but not limited to, the Taos Volunteer Fire Department, Town of Taos Police Department, New Mexico State Police, Taos County EMS, Taos County Sheriff’s Department, representatives from Questa, Angel Fire, and other surrounding communities/various departments. Cpt. Aguilar has indicated that these programs could not be pulled off without the active support and participation of the Taos Volunteer Fire Department (contact Eric Montoya, Administrative Fire Chief at 575-737-2609, emontoya@taosgov.com for more details) and other Town of Taos emergency response professionals. The public is advised that during May 5-9 at Holy Cross Hospital and other public locations, exercises in progress may be encountered. For obvious training reasons, the details of times and locations of activities cannot be shared. The public should simply be aware that these are training programs, simulating disasters in order to continue to refine and improve first responders’ capabilities….
Original Source: galleryrealtyoftaos.com
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29 April, 2008| housingblogs |
Comments (0) @ 23:50
- Islip shoots for Energy Star
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The Town of Islip will vote tonight to force builders to adhere to Energy Star standards for all new residential construction.
The town board will also consider resolutions for Islip to receive carbon reduction credits that can then be sold to provide additional revenue to the town’s Resource Recovery Agency.
If approved, the town will receive credit for burning methane at its landfill facilities. The credits would then be sold on the Chicago Climate Exchange or directly to other municipalities and businesses nationwide looking to purchase credits to offset their own carbon emissions.
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Original Source: spacedoutli.wordpress.com
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29 April, 2008| housingblogs |
Comments (0) @ 23:46
- Homeownership and Vacancy Rates
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Yesterday the Census Bureau reported the homeownership and vacancy rates for Q1 2008. Here are a few graphs and some analysis ……
Original Source: bp0.blogger.com/_pMscxxELHEg/SBecQ8ncvm
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29 April, 2008| housingblogs |
Comments (0) @ 23:04
- Your call: Ventura or San Buenaventura?
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This blog voted thumbs-down on the ultimately failed attempt to change the name of El Porto to, um, something else. (It’s still El Porto here, thus it was a failed attempt.)
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29 April, 2008| housingblogs |
Comments (0) @ 22:49
- Your call: City of Ventura, of San Buenaventura?
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This blog voted thumbs-down on the ultimately failed attempt to change the name of El Porto to, um, something else. (It’s still El Porto here, thus it was a failed attempt.)
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29 April, 2008| housingblogs |
Comments (0) @ 22:49
- HousingPANIC Strange Observation of the Day
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Sacrament…
Original Source: bp3.blogger.com
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29 April, 2008| housingblogs |
Comments (0) @ 22:36
- L.A. home prices falling, and faster
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Month
L.A. Index
monthly % change
yoy % change
April 2007
263.4
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Original Source: feeds.latimes.com
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29 April, 2008| housingblogs |
Comments (0) @ 21:58
- Invasion of the Body Snatchers
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USA Today had a very interesting roundtable discussion of housing. There were some very interesting (and wrong) opinions put forth, however I was more than delighted at some of the quotes of Lawrence Yun’s (Chief Economist of the National Association of Realtors), and successor to the discredited David Lereah (Pronounced LI-AR).
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Original Source: www.socalbubble.com
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29 April, 2008| housingblogs |
Comments (0) @ 21:36
- February Case-Shiller HPI
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Yet another crunchy beating was dispensed to the Case-Shiller-HPI last month.
read more…
Original Source: piggington.com
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29 April, 2008| housingblogs |
Comments (0) @ 21:13
- Dunkin in Deer Park
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A half-acre parcel of vacant land in Deer Park was sold for $800,000, according to Michael Maffettone of Prudential CRES Commercial Real Estate in Medford who brokered the deal.
The new owner is planning to build a Dunkin Donuts with a drive-thru on the site at 2025 Deer Park Avenue. The donut store plan is currently in the building approvals process with the Town of Babylon.
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Original Source: spacedoutli.wordpress.com
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29 April, 2008| housingblogs |
Comments (0) admin @ 21:11
- S&P: LandSource Bankruptcy Expected in May
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From S&P Leveraged Commentary & Data: LandSource bankruptcy filing expected in May as cash runs out (hat tip marmadogg)The S&P unit believes LandSource will file bankruptcy within the next two to three weeks.The WSJ reported last week on the default notice From the WSJ: Calpers-Linked Land Partnership Gets Default Notice …
Original Source: feeds.feedburner.com/CalculatedRisk
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29 April, 2008| housingblogs |
Comments (0) @ 20:57
- Cheap?
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Cheap is relative. Compared to pricing at the peak, the prices of houses in Irvine right now are cheap. Of course, they will get cheaper, but today’s property caught my attention because I did not get an overwhelming feeling of revulsion at the high price. That is real progress. I am not sure what attracted me to this property. Perhaps it is like ZZ Top’s Cheap Sunglasses.
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29 April, 2008| housingblogs |
Comments (0) @ 20:30
- ‘No sign of a bottom’ for housing
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The monthly Case-Shiller numbers — the ones based on repeat sales of the same house — show L.A. housing prices fell by 19.4% over the past year, t…
Original Source: latimesblogs.latimes.com
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29 April, 2008| housingblogs |
Comments (0) @ 20:12
