All Your Home Loans Are Belong To Us (To Boost Liquidity)
“The Federal Reserve Bank of New York started buying mortgage-backed securities today as part of a $500 billion program to support the U.S. housing market.” ∙ New York Fed Begins…
JustQuotes: Forget The Hopes, It’s Time For Prayer
“Sales of single-family houses in the U.S. dropped in November by the most in two decades and resale prices collapsed at a pace reminiscent of the Great Depression, dashing hopes…
QuickLinks: Lower Rates Will Save San Francisco! Oh, Wait A Minute…
∙ The FOMC Speaks (And Not In Tongues): It Ain’t Pretty Out There ∙ U.S. Stocks Fall on Concern Fed Is Running Out of Ammunition ∙ Banks Show No Signs…
The FOMC Speaks (And Not In Tongues): It Ain’t Pretty Out There
“The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent. Since the Committee’s last meeting, labor market conditions…
San Francisco Firms Continue To Shed And Sublease Office Space
“Cost-cutting tenants have dumped 1.2 million square feet of unwanted office space on the sublease market since July 1, the latest sign that San Francisco’s economy is slowing amid a…
The Economic (And Employment) State Of San Francisco: Not Good
From the Examiner with regard to the economic state of San Francisco: The City is facing a fiscal “crisis,” with one of the largest deficits in San Francisco history expected…
JustQuotes: Why Simply Reducing Rates Won’t Cure The Market’s Ills
“Almost 53 percent of borrowers whose loans were modified in the first quarter of this year re-defaulted by being more than 30 days overdue…” ∙ Majority of Modified Loans Fail…
Once Again, We’ll Posit It’s Just Starting (Not To Mention Matters)
“Skittish employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession.” “The unemployment…
Bernanke Goes From Bad To Worse And Wants Your Dollars To Follow
“Federal Reserve Chairman Ben S. Bernanke urged using more taxpayer funds for new efforts to prevent home foreclosures, saying the private sector is incapable of coping with the crisis on…
JustQuotes: And Housing? Uhh…No.
“What we’ve seen since mid to late September is that business activity has shut down, along with the consumer,” Stephen Gallagher, chief economist at Societe Generale in New York, said…