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- HousingPANIC calls for the immediate arrest of former Countrywide CEO Angelo Mozilo for documented judicial bribery (amongst many, many other crimes)
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How many smoking guns do the feds need?How much longer will we have to wait until this scumbag is arrested?At this point, I believe a citizen’s arrest may be called for, if the US Justice Department, the SEC, the FBI or the California Attorney General are all unwilling to do their jobs. Maybe Angelo bribed all of them too?…
Original Source: housingpanic.blogspot.com
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27 July, 2008| housingblogs |
Comments (0) @ 23:41
- HousingPANIC calls for the immediate arrest of former Countrywide CEO Angelo Mozilo for documented judicial bribery (amongst many, many other crimes)
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How many smoking guns do the feds need?How much longer will we have to wait until this scumbag is arrested?At this point, I believe a citizen’s arrest may be called for, if the US Justice Department, the SEC, the FBI or the California Attorney General are all unwilling to do their jobs. Maybe Angelo bribed all of them too?…
Original Source: housingpanic.blogspot.com
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27 July, 2008| housingblogs |
Comments (0) @ 23:41
- Miles Driven Off 3.7% in May
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The WSJ has some details from the DOT report due tomorrow: Funds for Highways Plummet As Drivers Cut Gasoline Use A report to be released Monday by the Transportation Department shows that over the past seven months, Americans have reduced their driving by more than 40 billion miles. Because of high gasoline prices, they drove 3.7% fewer miles in May than they did a year earlier, the report says,…
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27 July, 2008| housingblogs |
Comments (0) @ 23:05
- Inman Connect - Awesome
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My posting last week was relatively light due to a hectic business travel schedule Monday-Wednesday and then the Inman Real Estate Connect Conference in San Francisco. It was great to be participating in the conference, but the big highlight for me was meeting CR of Calculated Risk and Merlin Mann both in person. Connect had a great setup with an opportunity called “Meet the Leaders” where you could come up and talk to the keynote panelists. I wasn’t missing out on meeting either of those two gentlemen and I’m glad I did.
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27 July, 2008| housingblogs |
Comments (0) @ 23:05
- It takes a drunk. Here’s George W. Bush, The Worst President Ever, admitting now what we all knew years ago - "Wall Street got drunk"
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“There is no question, about it. Wall Street got drunk…that’s one reason I asked you to turn off TV cameras…he’s got drunk and now it’s got a hangover, the question is, How long will it sober up and try not to do all these fancy financial instruments?”- George W. Bush, The Worst President Ever, whose administration was asleep at the switch as the most out of control fraud-enabled financial bubble in recorded human history raged, July 2008
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Original Source: housingpanic.blogspot.com
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27 July, 2008| housingblogs |
Comments (0) @ 22:46
- It takes a drunk. Here’s George W. Bush, The Worst President Ever, admitting now what we all knew years ago - "Wall Street got drunk"
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“There is no question, about it. Wall Street got drunk…that’s one reason I asked you to turn off TV cameras…he’s got drunk and now it’s got a hangover, the question is, How long will it sober up and try not to do all these fancy financial instruments?”- George W. Bush, The Worst President Ever, whose administration was asleep at the switch as the most out of control fraud-enabled financial bubble in recorded human history raged, July 2008
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Original Source: housingpanic.blogspot.com
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27 July, 2008| housingblogs |
Comments (0) @ 22:46
- Bits Bucket For July 28, 2008
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Please visit the HBB Forum. Post off-topic ideas, links and Craigslist finds here….
Original Source: thehousingbubbleblog.com
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27 July, 2008| housingblogs |
Comments (0) @ 22:30
- Astrologers and economists - no one knows where bottom is
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A great quote in the New York Times by way of Naked Capitalism from one of my favorite authors, pundits, quants Nassim Taleb about those trying to make predictions in the current market:
“I cannot find a single convincing argument that tells me that astrologers won’t do better than economists,” Mr. [Nassim Nicholas] Taleb said last week by telephone from Lebanon, where he was mountain hiking.
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27 July, 2008| housingblogs |
Comments (0) @ 22:30
- What deadly sin was most responsible for getting us into this mess?
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LustGluttonyGreedSlothWrathEnvyPride…
Original Source: housingpanic.blogspot.com
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27 July, 2008| housingblogs |
Comments (0) @ 21:21
- Eugene RMLS Market Action Report – June 2008
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The Regional Multiple Listing Service released the Market Action Report this week and the median sale price for June 2008 was $224,500 this is a 7.7% decrease from the median sale price for June 2007.The Eugene residential real estate market peaked in June 2007 with a median sale price of $243,300. Prices have now fallen 7.7% from that peak.Months of supply (total inventory/monthly sales) sits at 8.1 months compared to the 4.6 months of supply for the same month last year. A balanced market has about 7 months of supply.T…
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27 July, 2008| housingblogs |
Comments (0) @ 18:25
- Q2: Homeownership and Vacancy Rates
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This week the Census Bureau reported the homeownership and vacancy rates for Q2 2008. Here are a few graphs and some analysis …
Click on graph for larger image in new window.
Although the homeownership rate increased slightly (just noise), the homeownership rate is now back to the levels of the summer of 2001. Note: graph starts at 60% to better show the change.
The second graph shows the…
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27 July, 2008| housingblogs |
Comments (0) @ 17:26
- Let them buy dream homes
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Bali, or horse country? Dubai, or Park Avenue?
While many Americans are chewing over how to make their mortgage payments, 305 high-end owners (their primary residences and investment assets are each worth at least $1 million, except Californians, whose homes must be worth $2 million-plus) recently ruminated over where they’d like to land their dream homes.
The 2008 Coldwell Banker Previews International Luxury Survey …
Original Source: feeds.latimes.com
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27 July, 2008| housingblogs |
Comments (0) @ 15:15
- For Mall Owners: "An ebbing tide"
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From the TimesUnion on upstate New York: An ebbing retail tide (hat tip Justin)Consider, for a moment, some of the national chains that in recent months have closed stores, declared bankruptcy or gone out of business entirely: Linens ‘n Things, Steve & Barry’s, Sharper Image, Starbucks, CompUSA, The Disney Store, Wilson’s Leather, Talbots, Ann Taylor, Bombay Co.
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"It’s not a very happy time to…
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27 July, 2008| housingblogs |
Comments (0) @ 13:00
- A Steal-Of-A-Deal In California
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The Burbank Leader reports from California. “Home prices in Burbank and Glendale plummeted more than 12% in June as foreclosures soared in the second quarter this year. The average median sale price for single-family homes in Glendale, now $654,000, dropped 13% in June from the same point last year. The number of foreclosed homes shot up 418% in the second quarter this year, from the second quarter in 2007.”
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Original Source: thehousingbubbleblog.com
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27 July, 2008| housingblogs |
Comments (0) @ 11:27
- Eugene RMLS Market Action Report – June 2008
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The Regional Multiple Listing Service released the Market Action Report this week and the median sale price for June 2008 was $224,500 this is a 7.7% decrease from the median sale price for June 2007.The Eugene residential real estate market peaked in June 2007 with a median sale price of $243,300. Prices have now fallen 7.7% from that peak.Months of supply (total inventory/monthly sales) sits at 8.1 months compared to the 4.6 months of supply for the same month last year. A balanced market has about 7 months of supply.T…
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27 July, 2008| housingblogs |
Comments (0) @ 8:00
- A Line Of Scrimmage Called A Contract
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A report from the Oklahoman. “Housing made forward progress with a shotgun approach for years, but it’s become a ground game in Oklahoma City, with buyers and sellers staring one another down across a line of scrimmage called a contract. Some buyers don’t get it, Realtors said. ‘They offer silly amounts of money,’ said Jim McWhirter, who owns Gemini Builders and Gemini Realtors in Choctaw.”
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Original Source: thehousingbubbleblog.com
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27 July, 2008| housingblogs |
Comments (0) @ 7:41
- ‘A Good Steady Market’
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In case you missed the announcement today in Real Estate, because of reductions in staff and space, the Sunday Real Estate section has printed its final edition.Real estate coverage will continue to appear online throughout the week. Hot Property, Neighborly Advice and the occasional Pardon Our Dust remodeling tale will appear in print as part of the new Saturday Home section. Home of the Week, Southland home-price charts and other features will appear in Sunday Business. Real estate articles will appear in both sections.
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Original Source: feeds.latimes.com
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27 July, 2008| housingblogs |
Comments (0) @ 6:07
- Graphs: June New Home Sales
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Since I was out of town on Friday, here is a somewhat belated look at the New Home sales report from the Census Bureau.
According to the Census Bureau report, New Home Sales in June were at a seasonally adjusted annual rate of 530 thousand. Sales for May were revised up to 533 thousand (from 512 thousand).
Click on graph for larger image in new window.
The first graph shows monthly new home…
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27 July, 2008| housingblogs |
Comments (0) @ 6:01
- Bits Bucket For July 27, 2008
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Please visit the HBB Forum. Post off-topic ideas, links and Craigslist finds here….
Original Source: thehousingbubbleblog.com
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27 July, 2008| housingblogs |
Comments (0) @ 5:11
- Ron Paul on "The Mother of All Bailouts"
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Shameful.Disgraceful.Welcome to the American Congress, circa 2008. Out of control, morally adrift, paranoid, in the bag of the bankers and REIC, and unethically reckless with the Taxpayer’s money.Simply the best Congress money could buy.
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Original Source: housingpanic.blogspot.com
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27 July, 2008| housingblogs |
Comments (0) @ 4:03