Clik here to view.
"Drive-By" Valuations Worry Australian Regulator
The Australian reports that appraisals and lending standards are under review in that country as well. "The nation's banking regulator has warned home lenders that their cutting corners on property...
View ArticleClik here to view.
The MBS House Of Cards
Credit rating agencies grade mortgage pools up-and-down every day. To get a sense of what's going on, here is a May 20th example from Fitch. "The negative rating actions, which affect $526.8 million of...
View ArticleClik here to view.
Selling Condos? "The DJ's Got To Be Really Good"
It would seem the Miami condo craze may be reaching it's zenith with stories like this NYTimes piece. "You could salsa with dancers in fringed hot pants at Aqua, hear a drag queen D.J. at Cynergi or...
View ArticleClik here to view.
Housing Bubble Seen As Non-Productive
An editorial in the News & Star challenges the public view of housing in the UK. "As the former features editor of the then leading home improvements magazine Practical Householder, I have a sense...
View ArticleClik here to view.
Canada Gets I/O Loans, US Speculating With Debt
The web site Realtor.org reports that interest only loans are headed to Canada. "A unit of U.S.-based General Motors Acceptance Corp. is offering Canadian home buyers the nation's first fixed-rate,...
View ArticleClik here to view.
Top Execs Bail-Out At Countrywide
The insider selling continues at Countrywide Financial, where the executives have liquidated 72% of their position. A scan of the individual transactions reveals the sell-off has accelerated.
View ArticleClik here to view.
In Las Vegas, They Sell Condos Twice
The Las Vegas RE crowd got some bad press when one condo project pulled a fast one. "First it was the housing market, now it's the condo market. It's almost a given in Las Vegas, buy low and sell high....
View ArticleClik here to view.
Over-Capacity Fuels "Renters Bonanza"
It's a "Renters Bonanza" the TriCity Herald reports. "As occupancy rates drop in the Tri-Cities, renters are getting move-in incentives and a choice of amenities. Vacancy rates, which averaged about 3...
View ArticleClik here to view.
Speculators In Charge Of This Bubble
There isn't a lot of celebrating at the NAR this morning, or even much discussion in the media of their existing home sales report. For months their economists have predicted sales and prices to 'level...
View ArticleClik here to view.
Crowd Gathers To Watch Economic Train-Wreck
The home price increase has caused another economist to change his opinion on the housing bubble. "In a real estate seminar in January, I stated that housing price increases reflected underlying...
View ArticleClik here to view.
Economist To Eat His Own Hat
This has already been posted in the comments, but just to get it on the record. "'Fifteen percent price appreciation is too much, even for me,' David Lereah, chief economist at the National Association...
View ArticleClik here to view.
"The Biggest RE Bubble In World History"?
Even before the sales numbers were released today, economists were sounding alarm bells. Yale University economist Robert Shiller, "'I think this is actually the biggest [real estate] bubble in U.S....
View ArticleClik here to view.
Faulty Appraisals Are "Common Knowledge"
As expected, the appraisal industry is warning congress today. "Faulty appraisals are still dictated by interested parties, the schoolyard bullies of real estate. It's common knowledge that if an...
View ArticleClik here to view.
Congress Wants This Bubble, Not Reform
The gut-less US congress will be remembered for it's role in creating the housing bubble. It appears that the lack of courage will continue as the economy sails off the cliff. "Legislation to be...
View ArticleClik here to view.
Fitch Cuts GM, GMAC To "Junk" Status
As the markets wait for the Fed minutes to be released, Fitch Ratings has lowered the bonds of GM and mortgage giant GMAC to junk status. "Fitch Ratings May 24, 2005: Fitch Ratings has downgraded the...
View ArticleClik here to view.
"Possible Speculative Excess": FOMC
Disregarding the so-called 'soft patch' in the economy, the Federal Reserve is signaling that the funds rate will be increased. "'Most members regarded the recent slower growth of economic activity as...
View ArticleClik here to view.
CA Prices Soar, Sales Weaken
The CAR reports a new milestone in California. "The median price of a home in California topped a half-million dollars for the first time in April, reflecting the continuing demand for housing and the...
View ArticleClik here to view.
Fundamentals Belie Housing Boom
A writer at Motley Fool has done the calculations readers of this blog know a lot about. He didn't like what he came up with. "In our neck of the woods, things look pretty unhealthy. I recently came...
View ArticleClik here to view.
Spanish Mortgage Debt Up 25% In One Year
In Spain, the RE boom has pushed the country to the brink. "Household debt in Spain surpassed disposable income for the first time last year, posing risks for the stability of the financial system, the...
View ArticleClik here to view.
7% Of LV Listings Reduce Price In The Past Week
The Las Vegas web site that has a search function for homes reduced in price the last seven days has reposted the results. It reports that out of 16,346 total MLS listings, 1,133 have had prices cut in...
View ArticleClik here to view.
Buyers, Builders, Lenders May Get "Burned"
Atlanta Federal Reserve Bank President Jack Guynn added to the housing bubble debate with these comments. "'There are some local markets, especially in coastal Florida, where I've heard stories for...
View ArticleClik here to view.
All Eyes On Fannie Soon
Fannie Mae has the April monthly summary report scheduled to come out any day. This post took a close look recently and the April period should be interesting.
View ArticleClik here to view.
HBs' Stock Up Double Digits In 10 Days
Many of this blogs' readers are watching for the top in the US housing market. This chart of the homebuilders KB Homes and Toll Brothers exhibits the kind of 'blow-off' action one would expect to cap a...
View ArticleClik here to view.
"Correction Inevitable, Could Be A Doozie"
The Australian has a report out with more details of the speech by Fed honcho Jack Guynn. "He was especially concerned about reports of speculators buying homes and condos 'just to flip them for a...
View ArticleClik here to view.
This Blog Is Back Online; Archive For Older Posts
This blog will serve as an archive. Please continue to use this other blog for day-to-day postings.
View Article
