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- NYC luxury housing market starting to experience problems
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There’s nothing like a financial crisis to ruin the New York City luxury housing market:For a while, even as the rest of the housing market sputtered, the luxury sector had looked strong, wealthy home buyers packing cash were largely unaffected by the mortgage meltdown and foreign buyers, for a time, were still buying. Now…not so much, foreign buyers have lost interest, according to Barron’s, and “big stock-market losses, a sagging economy and massive layoffs in financial services are sorely affecting the liquidity, wealth and confidence of potential buyers of high-end homes.”…
Original Source: bubblemeter.blogspot.com
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4 December, 2008| housingblogs |
Comments (0) @ 5:44
- The Not-Yet New Washington
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(Please visit the site to view this media)Discussing the TARP and the economy, with Keith Hennessey National Economic Council director/White House Economic adviser and David Walker, former U.S. Comptroller General president…
Original Source: www.mortgagenewsdaily.com
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4 December, 2008| housingblogs |
Comments (0) @ 5:42
- Bits Bucket For December 4, 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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4 December, 2008| housingblogs |
Comments (0) @ 5:14
- L.A. Live Project has Friends in High Places
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L.A Live is having a grand opening tonight. The $2.5 billion “content campus” adjacent to the convention center in downtown Los Angeles will feature a couple of concert halls, an ESPN Zone/broadcast studio, a bowling alley, movie theaters and ten restaurants. There is also a music industry themed Grammy Museum. The complex is being called Los Angeles’ Times Square.
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Original Source: www.businessweek.com
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4 December, 2008| housingblogs |
Comments (0) @ 4:41
- Surprise surprise, NYC in recession
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From the NY Times:
No Surprise, New York Is in RecessionOne year after the national economy officially fell into a recession, New York City and State have joined it, according to an influential research firm.
On Wednesday, Moody’s Economy.com said that the city and state, like almost all other parts of the country, are now in a recession. For the last several months, Economy.com had said the city and state were “at risk” of recession but had not yet begun shrinking. Almost all the rest of the tristate area, including all metropolitan areas in New Jersey, are also in recession, according to Economy.com.
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Original Source: njrereport.com
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4 December, 2008| housingblogs |
Comments (0) @ 3:20
- Suprise suprise, NYC in recession
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From the NY Times:
No Surprise, New York Is in RecessionOne year after the national economy officially fell into a recession, New York City and State have joined it, according to an influential research firm.
On Wednesday, Moody’s Economy.com said that the city and state, like almost all other parts of the country, are now in a recession. For the last several months, Economy.com had said the city and state were “at risk” of recession but had not yet begun shrinking. Almost all the rest of the tristate area, including all metropolitan areas in New Jersey, are also in recession, according to Economy.com.
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Original Source: njrereport.com
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4 December, 2008| housingblogs |
Comments (0) @ 3:20
- Treasury’s Help Is No Help
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A headline from Reuters yesterday stated:
Treasury may use Fannie, Freddie to help home prices
For those of us who’ve been waiting for home prices to come down to sensible levels before we jump back into the market, you’d think that the Treasury had a plan to help lower …
Original Source: housingdoom.com
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3 December, 2008| housingblogs |
Comments (0) @ 23:01
- Power is illusion. Money is trash. Music is forever. Thank-you.
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in Sunday’s wet snow
Freedom for … last time singing
one — two & —
I promise….
Original Source: housingdoom.com
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3 December, 2008| housingblogs |
Comments (0) @ 23:01
- 4.5% interest rates should clear the matter up
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Under the plans-that-don’t-make-a-lot-of-sense category (which is bulging to overflow these days) … handing out 4.5% interest rates to people who may not really need them. Reports out late Wednesday included this on CNNMoney.com:Lobbyists are pushing the Treasury Department to consider a plan to purchase mortgage-backed securities in the hopes of driving mortgage rates to as low as 4.5%, an industry source said.
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Original Source: feeds.latimes.com
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3 December, 2008| housingblogs |
Comments (0) @ 21:50
- Cyber Monday Results
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From Comscore: E-Commerce Spending Jumps 15 Percent on Cyber Monday to $846 Million, the Second Heaviest Online Spending Day on Record For the holiday season-to-date, $12.03 billion has been spent online, marking a 2 percent decline versus the corresponding days last year. However, Cyber Monday saw $846 million in online spending, up 15 percent. The four-day period from Black Friday through Cyber Monday saw e-commerce spending jump 13 percent as both weekend days and Monday all achieved double-digit gains. …
Original Source: feedproxy.google.com
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3 December, 2008| housingblogs |
Comments (0) @ 21:17
- Making Credit Rating Agencies Credible
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The Securities and Exchange Commission (SEC) is getting tough on credit rating agencies. A series of measures announced on Wednesday, December 3, would impose additional requirements on the credit reporting agencies in an effort to increase transparency and accountability. Consumers, investors and lenders may even end up getting more meaningful ratings.
These comprehensive rules touch every aspect of the credit rating process - from conflicts of interest, to publication of ratings methodologies to disclosure of ratings track records,” explains S…
Original Source: http://feeds.feedburner.com/typepad
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3 December, 2008| housingblogs |
Comments (0) @ 19:54
- Refinance Index Soars 203%; Purchase Index Rose 38%
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(Please visit the site to view this media)Homebuilder stocks rise on surge in mortgage applications; Fed actions pushed 30-year fixed mortgages to 3-year low; RBS Greenwich Capital: 5.5% loans now eligible for refinancing; JMP Securities: California supply tightens, starts to improve; Kubarych: Refinancing surge could be 'Thanksgiving Week Fluke'; Report and analysis by Su Keenan of Bloomberg News…
Original Source: www.mortgagenewsdaily.com
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3 December, 2008| housingblogs |
Comments (0) @ 19:24
- Wondering how much of your money will go towards “fixing” the problem?
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A great graph by EconomPicData shows just how much of the cash dolled out by Hank Paulson will actually remain in the system. The bottom line? From the $125 billion handed out to-date to the largest 9 banking institutions a mere $17 billion will go towards recapitalizing the system. The rest? Yup - bonuses and compensation.
My head just exploded.
From E…
Original Source: http://feeds.feedburner.com/typepad
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3 December, 2008| housingblogs |
Comments (0) @ 19:04
- Lereah & Others Missing The Housing Bubble
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From a blog at The Atlantic:Unless I were allowed to rely exclusively on David Lereah (until recently the permabullish economist for the National Association of Realtors) I would be hard put to find one economic expert who had completely missed the housing bubble, much less write an entire article consulting no one else. D…
Original Source: bubblemeter.blogspot.com
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3 December, 2008| housingblogs |
Comments (0) @ 18:56
- House Prices and Interest Rates
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There were two stories published today concerning house prices and interest rates.The first story came out this morning, and quoted a report from Global Insight suggesting “the housing market is now slightly undervalued”. Please stop laughing ……
Original Source: feedproxy.google.com
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3 December, 2008| housingblogs |
Comments (0) @ 18:18
- Wanna see something kind of cool/scary?
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Check out slides 15 & 16 of Jerry Johnson’s slide show from the 2009 Homebuilders Association Convention.Personal update- I caught mono last month and spent a few weeks struggling to do anything more than sleep. I’m feeling much better now but I get to play catch-up at the office. Everything should be back to normal next week; thanks for your patience and thanks for all the support you’ve given me over the past month….
Original Source: http://feeds.feedburner.com/portlandhousingblogspot
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3 December, 2008| housingblogs |
Comments (0) @ 18:18
- Doomer Coffee: What Treasury is Proposing will Kill Lenders as their Agency Debt Drops in Value
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Housing Doom commenter coffee just dropped this in the comments. Twist and I are over our heads on this one. I’ll put a few of the relevant news links up in the comments later, but in the meanwhile any assistance would be appreciated. This is about the latest Treasury moves to force down mortgage rates. They seem awfully radical to me.
F…
Original Source: housingdoom.com
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3 December, 2008| housingblogs |
Comments (0) @ 17:19
- Developers "top out" at Hollywood and Vine
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The economy may be in recession, but that’s not slowing down work on the $600-million hotel, residential and retail complex at the famed intersection of Hollywood and Vine in Hollywood. Developers Gatehouse C…
Original Source: feeds.latimes.com
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3 December, 2008| housingblogs |
Comments (0) @ 16:52
- Treasury eyes 4.5% mortgage rate
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Lobbyists are pushing the Treasury Department to consider a plan to purchase mortgage-backed securities in the hopes of driving mortgage rates to as low as 4.5%, an industry source said….
Original Source: rss.cnn.com
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3 December, 2008| housingblogs |
Comments (0) @ 16:44
- Homeowners are hopping mad about smaller homes going up nearby
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Cutting corners is backfiring for home builders. From Reuters on Wednesday: Builders desperate to put up smaller, cheaper homes are incurring extra expense and customers’ wrath by redesigning communities, even when people are already living in them.
As the U.S. housing slump accelerates, homebuilders from California to New Jersey are now being forced back to the drawing board and the local planning board to downsize the American dream.
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Original Source: feeds.latimes.com
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3 December, 2008| housingblogs |
Comments (0) @ 15:44