- Little Hope for Housing by Jon D. Markman
- Beware the Case-Shiller Lag by The Fundamental Analyst
- Subprime WAS Profitable by Karl Smith
- Home Prices Rose in June, But… by Zacks.com
- More Evidence That Housing Has Stabilized by Calafia Beach Pundit
- Bank Self-Dealing and the Supercharged Financial Crisis by Rortybomb
- Home Prices Respond to Government Cheese by Karl Denninger
- Case-Shiller Up, But Still Distorted by Housing Credit by Sold At The Top
- False Hope for Housing From Case-Shiller by Tim Iacono
Sep 02
Aug 28
There seems to be a growing consensus that home prices are headed down, not up, in the absence of free money from Uncle Sam, the only important question being the magnitude of the decline. Housing Wire reports on a few of the latest analysts’ estimates including Moody’s where the chart below was offered.
via Seeking Alpha.
Aug 27
America is a “Mickey Mouse economy” that is technically bankrupt, according to Jochen Wermuth, the Chief Investment Officer (CIO) and managing partner at Wermuth Asset Management.
“America today looks like Russia in 1998. Consumers, companies and the government are all highly indebted. America as a result is a bankrupt Mickey Mouse economy,” Wermuth told CNBC.
via CNBC.
Aug 25
The expiration of a home-buyer tax credit in the spring was expected to damp buying, though less severely. Economists said the sales drop—together with a corresponding rise in the inventory of unsold homes—meant another decline in housing prices was on the horizon.
via WSJ.com.
Aug 25
Yesterday’s existing home data was ugly. It was coyote ugly. It was so bad that forecasters would probably be willing to chew off a foot to be able to get out from under their predictions. Yesterday’s data indicated that the pace of existing home sales, a seasonally adjusted annual rate of 3.83 million. Many expected the pace of home sales to decline now that the home buyer stimulus programs have expired, but the decline reported yesterday indicates the real estate market is severely impaired. A glut of homes, more restrictive lending standards and a poor job market are conspiring to keep the housing market in an impaired state.
via Seeking Alpha.
Aug 23
Notice what’s not being talked about here: actually deflating the bubble, and returning homes to a price where Americans can actually afford them.
via Seeking Alpha.
Aug 20
In hindsight, Scott Feldman’s decision to sell his first home in late 2006 could have been a case study in a textbook called “How to Time the Real Estate Market.”
via The Hour
Aug 17
The point is that the banks ARE insolvent and unless American taxpayers collectively (i.e. via the government), take on a load more debt to pay them for their stupidity; at some point someone is going to find out.
Outside of the government handing out $50,000 tax credits there is little anyone can do to reverse the relentless grind of reality.
This is the reality of a bubble:
via Seeking Alpha.
