The 2008 Housing Market Through The Eyes Of The (Not An) MBA
Expectations for the national housing market in 2008 according to the Mortgage Bankers Association (MBA): – A 2 percent decline in nominal median sales price (versus 2007) – A 13…
JustQuotes: Just Don’t Bet On (Or Call It) A Potential ARM Bailout
“”There is no evidence it is bottoming,”‘ said of the housing decline on CNBC television during a trip to New York. “The evidence would be that it has further to…
JustQuotes: National New Home Sales Drop To 12-Year Low
“Sales of new homes in the U.S. fell to a 12-year low in November, pointing to bigger declines in construction that will hobble economic growth throughout 2008.” “Purchases fell in…
Their Mascot Might Be A Bull, But Merrill Lynch Is Anything But
The title of yesterday’s Economic Commentary from Merrill Lynch: “Housing deflation could be a multi-year process.” And the executive summary: Both the near-term and longer-run outlooks for the housing market…
Promoted From Comment To Post: Satchel Does Deflation
We’re not sure whether to call it a guest editorial or a soapbox, but in either case we’re handing plugged-in reader Satchel the mike. Thanks for the questions regarding how…
It’s Déjà Vu All Over Again: Fed Cuts Benchmark/Discount Rates .25%
Six weeks ago the Federal Reserve cut both the benchmark interest rate and the discount rate by 25 basis points (a quarter percent) while signaling that further cuts were unlikely.…
NAR Adds 0.18% And Aims To End The Year On A Positive Note
For the first time in nine months, the National Association of Realtors has revised their forecasts for national existing home sales in 2007 and 2008 upwards. In both cases, however,…
JustQuotes: A Preview Of The Federal Subprime Freeze To Come
“President George W. Bush today will announce a freeze on some subprime mortgage rates in an effort to stop a wave of foreclosures undoing the six-year expansion.” “The agreement addresses…
An Apples To Apples Sale In The Marina (1751 Beach): The Investment
A little over two years ago (on 9/30/2005 to be exact) 1751 Beach Street was purchased for $1,400,000. The purchase appears to have been financed with a down payment of…
No Direct Support! But Any Bets On Tax Credits For Security Holders?
“U.S. Treasury Secretary Henry Paulson is negotiating an agreement with banks to stem a surge in foreclosures by fixing interest rates on loans to subprime borrowers, according to people familiar…