More Can Still Go Wrong With Housing
on Nov 16, 2009 in Builders Housing Bubble Market trends   Chris Low, chief economist of FTN financial recently said: [A] stable housing market is essential to a stable banking system, and he believes “everything that can go wrong in the housing market already has.” I would disagree. On...

AEI Subprime VI: Complete Annotated Transcript
on Nov 16, 2009 in AEI Subprime Seminars As Canadian As Possible Bailouts Charts and Graphs Commercial Real Estate Credit Contraction Housing Bubble Mortgage Banking Politics Systemic Risk 1:36:34 … This crisis was caused by massive government subsidies to purchase homes by people who couldn’t really afford them. So what does Congress do? They pass an $8,000 tax credit for people who can’t really afford to buy a hom...

AEI Credit Crunch II: Complete Annotated Transcript
on Nov 15, 2009 in AEI Subprime Seminars Bailouts Charts and Graphs Credit Contraction Housing Bubble Market trends Mortgage Banking Politics Recourse Mortgages Systemic Risk 1:27:42 No, might go wrong. - Allan Meltzer Doom Transcripts: Index & Guide Almost 19 months later, Doomers may enjoy putting some of these opinions up against what actually took place. Housing Doom is pleased to present a complete unauthorized...

Yun Delivers Fantasy Real Estate Report
on Nov 14, 2009 in Bubble humor Can you believe this? Housing Bubble "….and then the great housing bust ended in 2010 and they all lived happily ever after…." - Lawrence Yun, chief economist, National Association of Realtors O.K. Yun may not have said it exactly like that, but this looks pretty d...

Op-Ed Friday: Make A Contribution To The National Debt
on Nov 13, 2009 in Can you believe this? Housing Bubble It’s Friday. Do you find yourself tired of huge deficits and a burgeoning national debt? The Treasury would be more than happy to accept your donation: [In the immortal words of Dave Barry, "I am not making this up." Hat tip L!] WASHIN...

Phoenix Housing Recovery? Not Really
on Nov 13, 2009 in Charts and Graphs Housing Bubble Market trends Phoenix Market   Dr. Jay Butler of ASU’s Realty Studies has released his monthly report on the Phoenix housing market.  He says he see’s "signs of recovery" in the market, but then goes on to say the market is "still bottoming out&...

Foreign Cenbank Holdings of US Obligations Weekly Update — to November 13, 2009
on Nov 13, 2009 in Charts and Graphs Housing Bubble NY Fed H.4.1 Updates UPDATE: Oops! of course the title should have read "… to November 11, 2009".  I hate it when that happens Suddenly here’s another week where there’s just about no movement in foreign central bank holdings. The Fed&#...

Landlords- Double Check The Insurance Policy On That Vacant Rental
on Nov 12, 2009 in Housing Bubble Phoenix Market Rental vacancy rates in the Phoenix area are at an all-time high.  Landlords are often stuck with empty properties for months, increasing the risk of vandalism and increasing the risk of loosing their insurance: [Thanks L!] Liz and Jerry Dawson...

Chase apologizes for selling off couple’s home
on Nov 12, 2009 in Bubble Horror Stories Housing Bubble Mortgage Banking Phoenix Market   Oops.  It looks like one couple’s home loan was modified right out from under them: PHOENIX — Despite being up-to-date on their modified mortgage payments, a Valley couple found Chase foreclosing on their home. "You work...

Treasury Suffering From An Appalling Lack Of Curiosity On Loan Mods
on Nov 11, 2009 in Housing Bubble Mortgage Banking Politics Yesterday, the U.S. Treasury released it’s Making Home Affordable Program Servicer Performance Report.  Interestingly, the report didn’t actually say how well the loan mods were performing. [Thanks L!] Good news that more than 650,0...