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- Freddie Mac may raise $10 billion
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The explicitly guaranteed GSE, Freddie Mac, is mulling a possible $10 billion equity round to raise capital to try to avoid from kicking in the t…
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17 July, 2008| housingblogs |
Comments (0) @ 22:08
- WSJ Report: Freddie Considering Stock Sale
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From the WSJ: Mortgage Giant Freddie Mac Considers Major Stock Sale Freddie Mac … is considering raising capital by selling as much as $10 billion in new shares to investors …
The main buyers for any new-stock issues are likely to be existing shareholders world-wide, according to one person involved in the discussion, adding that a definitive plan hasn’t yet been determined.
In the short…
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17 July, 2008| housingblogs |
Comments (0) @ 21:40
- JP Morgan’s CEO calls prime mortgages “terrible”
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JP Morgan’s CEO Jamie Dimon said that prime mortgages are “terrible” during the company’s earnings report which saw the Wall Street bank beat earnings estimates. The rapidly rising prime mortgage delinquencies may signal the second wave of the credit crisis; and one that we’ve been pointing to for a long time now.
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17 July, 2008| housingblogs |
Comments (0) @ 21:18
- [In The Media] 4Realz Roundtable Government Solutions To The Housing Situation
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Dustin Luther scores a coup, getting the Lawrence Yun, controversial NAR Chief Economist, to be the guest on his 4Realz podcast conference call along with moi, Rhonda Porter and Jillayne Schlicke .
What’s just as interesting as the guest speakers is the chat room dialog during the discussions. It prompts Dustin’s questions and allows “murmuring” during each answer.
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Original Source: matrix.millersamuel.com
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17 July, 2008| housingblogs |
Comments (0) @ 20:58
- Interesting Websites
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I’ve added a couple of interesting weblinks to the right hand side of the blog. You may have seen them on other sites or in the commentary.- The New York Times Rent vs. Buy calculator. Thanks to QL.- Walk Score website - Find a walkable neighbourhood. It’s fun to play with. Thanks to H…
Original Source: victoriastruth.blogspot.com
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17 July, 2008| housingblogs |
Comments (0) @ 20:47
- O.C. Office Construction Almost Stops
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From Jon Lansner at the O.C. Register: O.C. office construction plummets 91% Voit Commercial Brokerage reports that construction of O.C. office buildings plunged 90.8% in the second quarter to 325,276 square feet. Last year in the second quarter, 3.5 million square feet was under construction.
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All the added space pushed the second quarter office vacancy rate to 14.46%. A year [ago], vacancies…
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17 July, 2008| housingblogs |
Comments (0) @ 18:17
- Adios, Starbucks: The 88 closing California stores, mapped
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I’m curious your thoughts on this. Do you see an interesting pattern or theme in where the closings are? Before you go too far into the "foreclosure-store closure connection" (a path I headed down briefly, and turned back), consider that the store at Lincoln and Montana in Santa Monica is closing, and that’s pretty much a foreclosure-free zone.Posted by Pete Viles
Your thoughts? Comments? E-mail story tips to …
Original Source: feeds.latimes.com
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17 July, 2008| housingblogs |
Comments (0) @ 17:45
- Another step towards the edge
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The financial crisis took another leap forward today; Merrill makes sneaky announcements of losses, and the government connives to break its own rules. Meanwhile, Kristie claims the housing crash had nothing to do with her.Brown and Darling to break their own fiscal rulesNew Labour have lost the plot. Brown sets up some fiscal rules, and the moment it gets a little difficult, he wants to break them. As the economy slows, tax revenues are coming under pressure. Rather than cutting back on expenditure, New Labour are going to borrow more….
Original Source: ukhousebubble.blogspot.com
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17 July, 2008| housingblogs |
Comments (0) @ 17:34
- Stu’s Views Real Estate Cartoons
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Cartoonist Stu Reese has drawn a series of a real estate related cartoons.
Here is his main site: Stu’s Views.
Stu has generously offered to allow CR readers to preview, rate and offer suggestions on his new real estate cartoons.
Here is the preview page with 18 cartoons. This will only be posted for a short period.
You guys know real estate - and you know funny too - I’m sure he’d…
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17 July, 2008| housingblogs |
Comments (0) @ 16:00
- The Storm Is Starting To Shake The Shutters In California
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The Marin Independent Journal reports from California. “Marin home sales continued to slide as prices dropped dramatically across the Bay Area last month. Though Marin remained the only Bay Area county with a $1 million median price for single-family homes, the median was down from $1,125,000 a year earlier. In May, the median single-family home price in Marin was $1,102,000.”
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Original Source: thehousingbubbleblog.com
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17 July, 2008| housingblogs |
Comments (0) @ 15:53
- And then one Total Failure said to the other Total Failure….
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“You know, God bless him, bless his heart, p…
Original Source: housingpanic.blogspot.com
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17 July, 2008| housingblogs |
Comments (0) @ 15:41
- Capital One: Negative on Economic Outlook
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Conference Call: (hat tip Brian) all emphasis added
Comments on the economy: “While these credit metrics reflect modest credit pressure in the second quarter, there was a more pronounced deterioration in economic indicators. We assume this will translate into additional credit pressure in future quarters causing us to increase our [provisions for losses] in the second quarter. You may recall…
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17 July, 2008| housingblogs |
Comments (0) @ 15:00
- Thousands of Sellers Gave Up in June
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Those of you that have been following King County inventory may have noticed something a little odd about June’s official end-of-month inventory count from the NWMLS. While the number of listings appearing on local home search sites seemed to indicate that June’s inventory would be a few hundred higher than May, the N…
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17 July, 2008| housingblogs |
Comments (0) @ 14:54
- More Merrill: $9.75 Billion in Write-Downs, Moody’s Downgrades Debt
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From the WSJ: Write-Downs Push Merrill Lynch Into Red for 4th Straight Quarter Merrill Lynch & Co. posted its fourth consecutive quarterly loss on $9.75 billion in additional write-downs on assets tied to the tanking housing market.
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The negative revenue resulted from $3.5 billion in write-downs on collateralized debt obligations, a $2.9 billion loss related to hedges with financial guarantors…
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17 July, 2008| housingblogs |
Comments (0) @ 14:19
- Merrill $4.65 Billion Loss, Capital One income falls 40%
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Update: Here is the Merrill Press Release. (hat tip Dwight)
From MarketWatch: Merrill reports quarterly net loss of $4.65 billionMerrill Lynch … reported a $4.65 billion second-quarter net loss late Thursday as the brokerage firm continued to be hit by write-downs on large mortgage-related exposures. On Capital One: Capital One income falls 40% on drop in U.S. card income Capital One ……
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17 July, 2008| housingblogs |
Comments (0) @ 13:23
- New home construction report — worse than it looks
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A survey of builders released yesterday indicated that builder confidence in the new-home market in July hit a new low for the third-month in a row.
The National Association of Home Builders/Wells Fargo Housing Market Index in July dropped to the lowest level since the series measuring builder confidence began in 1985.
Today, a report on June housing starts seemed — at first — to make the builders seem like an overly pessimistic lot. U.S. housing starts surprised analysts by jumping 9.1% to an annual rate of 1.066 million in June.
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Original Source: www.businessweek.com
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17 July, 2008| housingblogs |
Comments (0) @ 13:12
- Latest home construction data is worse than it looks
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A survey of builders released yesterday indicated that builder confidence in the new-home market in July hit a new low for the third-month in a row.
The National Association of Home Builders/Wells Fargo Housing Market Index in July dropped to the lowest level since the series measuring builder confidence began in 1985.
Today, a report on June housing starts seemed — at first — to make the builders seem like an overly pessimistic lot. U.S. housing starts surprised analysts by jumping 9.1% to an annual rate of 1.066 million in June.
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Original Source: www.businessweek.com
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17 July, 2008| housingblogs |
Comments (0) @ 13:12
- Ben Bernanke’s new nickname: Bernie Mac
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At first glance it’s hard to see much resemblance between Ben Bernanke, the chairman of the Federal Reserve, and Bernie Mac, the comedian. Bernanke is an economist from Princeton University, while Bernie Mac is a television and movie actor whose character in The Bernie Mac Show was r…
Original Source: www.businessweek.com
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17 July, 2008| housingblogs |
Comments (0) @ 12:50
- Ben Bernanke’s new nickname: Bernie Mac
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At first glance it’s hard to see much resemblance between Ben Bernanke, the chairman of the Federal Reserve, and Bernie Mac, the comedian. Bernanke is an economist from Princeton University, while Bernie Mac is a television and movie actor whose character in The Bernie Mac Show was r…
Original Source: www.businessweek.com
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17 July, 2008| housingblogs |
Comments (0) @ 12:50
- Perennial Quest
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Perennial Quest — Death
Filtering out the bad that holds us back…Take hold of what is true to your hungerA hunger that will not go awayPlans for tomorrow, they will remain
I have a parable for you today:
A weary traveler was on a
quest to satisfy his deepest longings and desires. He traveled from
place to place, but no matter where he went or what he tried, nothing
would quite satisfy him. One day, exhausted from his search, he
happened to sit beneath a magical wish-fulfilling tree. He thought to
himself, “Perhaps it is not so good to desire so much. It has not
brought me any lasting satisfaction, but I am tired, and I could use
something to eat and drink…” No sooner had he thought this when
delicious food and drink appeared for him to enjoy. “Wow,” he
exclaimed, “this is fantastic, but it would be nice to have someone to
share this bounty with.” As soon as the thought occurred, a companion
appeared to enjoy the feast. His desires replete for the moment, he
thought to himself, “This is very strange. Everywhere I have traveled I
have wanted and found no satisfaction, and here at this tree, I can
have anything I desire. I wonder if there is something magic in this
tree? I wonder if it is inhabited by some spirit? I wonder if it is a
goblin that will consume me?” And, as soon he had this thought, a goblin
appeared, and consumed him….
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17 July, 2008| housingblogs |
Comments (0) @ 12:30