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- PMI: Portland Homes Prices Likely To Fall
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PMI Mortgage Insurance Co. released its Summer 2008 U.S. Market Risk Index, which ranks the nation’s 50 largest metropolitan statistical areas (MSAs) according to the likelihood that home prices will be lower in two years. The U.S. Market Risk Index shows risk further diverged along two distinctly different paths during the first quarter of 2008, continuing a trend that began in the fourth quarter of 2007. In general, risk continued to intensify in many of the MSAs where home price growth had significantly exceeded historical norms during the housing boom, but continued to decline in many other areas across the country….
Original Source: feeds.feedburner.com
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3 July, 2008| housingblogs |
Comments (0) @ 7:49
- ISM Services Falls to 48.2%
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From MarketWatch: U.S. June ISM services falls sharply to 48.2%
Below 50% means services are contracting. Prices are rising sharply and employment falling….
Original Source: feeds.feedburner.com
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3 July, 2008| housingblogs |
Comments (0) @ 7:14
- A Tsunami Of All Tsunamis
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The McLean Connection reports from Virginia. “By all accounts, Ali and Shanaz Alavi bought their new home in Great Falls for a bargain basement price. The couple purchased the five-bedroom home sitting on five acres of gated woodland for $1.1 million. The property owner, Jennifer Lynne Ridley, had been trying to sell the house for just under $2 million for the past 18 months.”
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Original Source: thehousingbubbleblog.com
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3 July, 2008| housingblogs |
Comments (0) @ 6:37
- Taos Real Estate - Water & Wells Off the Grid
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I saw that someone visited the site on a search about water and wells off the grid, and realized that I hadn’t written anything about it. So, here is what little I have to share. If you want to live or vacation in a home built off the electrical grid, it is highly likely that you’ll be collecting water mostly from rooftop collection systems and during the winter to get the snow melt.
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Original Source: feeds.feedburner.com
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3 July, 2008| housingblogs |
Comments (0) @ 6:34
- Taos Center for the Arts - June 3, 2008
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TAOS CENTER FOR THE ARTS
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Original Source: feeds.feedburner.com
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3 July, 2008| housingblogs |
Comments (0) @ 6:23
- Town of Taos Marketing Budget for Fiscal Year 2008-09
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2008-09 Marketing Budget as of July 1, 2008
The Town of Taos Mayor/Council has made good on their commitment to increase this fiscal year’s direct marketing budget, even though Town gross receipts are still flat through May, and department directors have cut all other Town budgets by 11 percent.
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Original Source: feeds.feedburner.com
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3 July, 2008| housingblogs |
Comments (0) @ 6:19
- Unemployment Claims Over 400K
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First a correction: last week I mentioned that historically weekly claims increase after Congress passes an extension to unemployment insurance benefits. In the past, workers who had exhausted their benefits could reapply for extended benefits, and these workers were included in the first time claims report.
Although the above was true during previous downturns, the BLS has apparently changed…
Original Source: feeds.feedburner.com
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3 July, 2008| housingblogs |
Comments (0) @ 6:09
- BLS: Employment Flat Year over Year
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From the BLS: Employment Situation Summary
This graph shows the unemployment rate and the year-over-year change in employment vs. recessions.
Click on graph for larger image.Although the unemployment rate was unchanged from last month, the rate has jumped sharply from a cycle low of 4.4% to 5.5%; a strong recession indicator.
The YoY change in employment is close to zero (the economy has…
Original Source: feeds.feedburner.com
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3 July, 2008| housingblogs |
Comments (0) @ 5:41
- How Congress Should Address the Foreclosure Crisis
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A paper by the Center for Economic Policy Research and the National Low Income Housing Coalition provides recommendations for how Congress address the foreclosure crisis. (Sorry about the length.)This paper compares ownership and rental costs in twenty major metropolitan areas. It shows that in many areas, ownership and rental costs are more or less in balance. This means that it might be practical and desirable to craft policies for these cities that are focused on keeping homeowners in their homes as owners….
Original Source: bubblemeter.blogspot.com
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3 July, 2008| housingblogs |
Comments (0) @ 5:03
- Bits Bucket For July 3, 2008
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Please post off-topic ideas, links and Craigslist finds here….
Original Source: thehousingbubbleblog.com
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3 July, 2008| housingblogs |
Comments (0) @ 3:36
- “We’re facing a potential spike in arson like we’ve never seen before.”
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From Bloomberg:
Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
At 10:40 p.m. on April 27, a blaze at the beige Victorian house at 19 Nye St. lit up a neighborhood littered with boarded-up homes on the north side of New Bedford, Massachusetts. It left charred wood and melted vinyl siding on the three-story structure.
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Original Source: njrereport.com
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3 July, 2008| housingblogs |
Comments (0) @ 2:48
- The bad ideas show
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Last night, the BBC’s Newsnight discussed Marks and Spencer’s profit warning. The program produced an MP, a businessman and an advertiser, who were all shook up by M&S sudden recognition that things were not well in the high street. There was a collective sense of surprise that the retailer had a hard time shifting its overpriced ready meals and style-deficient clothing. Once the shock about M&S had worn off, the panel turned their attention to what the UK needed to avoid a serious downturn. The panel concluded that there was a danger that we could “talk ourselves into a recession.” It forcefully argued that the economy needed a series of “confidence building” measures to keep our spirits up. …
Original Source: ukhousebubble.blogspot.com
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3 July, 2008| housingblogs |
Comments (0) @ 1:30
- Taylor Wimpey crash
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Yesterday, Taylor Wimpey shares were worth just 9 percent of their value a year earlier. An early warning of things go come?…
Original Source: ukhousebubble.blogspot.com
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3 July, 2008| housingblogs |
Comments (0) @ 1:18
- Escaping Perpetual Poverty Isn’t a Morality Question
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First they hit college, then perhaps onward to graduate or professional school, finally it is the job market. Along the way they find their one true love, then marriage, finally children and happily ever after.This life cycle is played out over and over, generation after generation. The graduating classes of ‘03 to ‘07 are no different. And just like the other generations before them, this generation also have dreams of h…
Original Source: bubbletracking.blogspot.com
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3 July, 2008| housingblogs |
Comments (0) @ 0:33
- Phoenix Sales Preview: June Home Sales Up Slightly Year-Over-Year
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M is feeling a bit smug on this one. He thought sales would be up year-over-year this summer, and it looks like he’s right. Unlike the reports done by Dr. Jay Butler of ASU’s Realty Studies, these figures are based on MLS sales, and do not include trustee sales. [Although Kudos to Butler for now separating those out.]
Here’s Doom’s unofficial figures for June, and may vary slightly from official MLS figures: [T…
Original Source: housingdoom.com
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3 July, 2008| housingblogs |
Comments (0) @ 0:01
- The Day Housing Faced the Plague of Locusts: Lessons from The Great Depression Part XIII. Facing our Own Economic Pilgrimage.
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With the systemic problems facing the United States and now being officially in bear market territory, this will be a challenging holiday weekend for many Americans. Already many are planning to curtail any major traveling and are opting to stay at home and possibly doing a barbeque at home because of high fuel costs. Aside from the high cost of fuel, Americans are feeling the pinch of a demoralizing housing market that is causing equity to evaporate as each day goes by. The wealth effect is in full onslaught impacting the psyche of the American consumer. That ever resilient consumer is finally showing an Achilles Heel.
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Original Source: feeds.feedburner.com
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3 July, 2008| housingblogs |
Comments (0) @ 0:00