JustQuotes: Don’t Shoot (But Feel Free To Debate) The Messenger(s)
“A recession within the next 12 months is likely and its impact on the Bay Area will be “sharp but short” due to the area’s strong economic underpinnings, according to…
JustQuotes: The Bigger Picture Is Looking A Bit Bleak
“Fannie Mae Chief Executive Officer Daniel Mudd said the housing slump will last beyond next year, dragging down home prices and increasing credit losses at the largest provider of financing…
July S&P/Case-Shiller Index: San Francisco MSA Continues Decline
And speaking of the S&P/Case-Shiller index (and no, that wasn’t a coincidence), according to the July 2007 index (pdf), single-family home prices in the San Francisco MSA slipped 4.1% year-over-year…
JustQuotes: What Happens When Lenders Can’t Borrow For Less?
“The U.S. commercial paper market unexpectedly shrank for a sixth week, extending the biggest slump in at least seven years and signaling the Federal Reserve’s interest rate cuts haven’t drawn…
Reader Dave Is In The Money As The FOMC Lowers By Half A Point
“The Federal Reserve lowered its benchmark interest rate by a half point to 4.75 percent, the first cut in four years, hoping to keep the U.S. from sinking into a…
Alan Greenspan Flip Flops On A National Bubble (But Not Local Froth)
According to the Financial Times, Alan Greenspan (as in the former chairman of the Federal Reserve) now acknowledges a national housing “bubble”; that price declines will be “larger than most…
A Few More Forecasts (And Data Points) For Your Consideration
Rounding out a few of the recent real estate forecasts, Mark Zandi, co- founder of Moody’s Economy.com in New York “forecasts a decline of 3 percent in the last quarter…
JustQuotes: Parsing The UCLA Anderson Forecast For The Bay Area
“Despite the Bay Area’s notoriously high home prices, the housing slump won’t be as acute as in the rest of the state because supply and demand are in better balance,…
From Rumor To Reality: Up To 12,000 Layoffs At Countrywide
It was two days ago that “ex SF-er” commented: “Rumor alert: Countrywide may be laying off 6,000 to 10,000 employees.” And it was but less than two hours ago that…
JustQuotes: NAR’s National Pending Home Sales Index Plunges
“The National Association of Realtors’ index for pending sales of existing homes decreased at a seasonally adjusted annual rate of 12.2% to 89.9 in July from June’s 102.4, the industry…