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Blog Details for "National Bubble"
National BubbleNational BubbleNews and commentary about the Real Estate bubble. Exposing the financial bubbles in the US economy and the greedy people behind it. Articles
Stop the housing bailout plans
2008-03-14 12:33:00 Fool.com has a great article about the housing bailout plans currently being proposed in Washington. Last week in The Wall Street Journal, Feldstein proposed that the government lend troubled homeowners 20% of their outstanding mortgage balance to ease pain. The money, he suggested, would come from selling Treasury bills (because those grow on trees) and have ... More About: Real Estate , Housing , Plans , Stop , Mortgages
According to economists: the recession is already here
2008-03-13 21:55:00 According to the Wall Street Journal: Most Economists Say Recession Has Arrived as Outlook Darkens The U.S. has finally slid into recession, according to the majority of economists in the latest Wall Street Journal economic-forecasting survey, a view that was reinforced by new data showing a sharp drop in retail sales last month. “The evidence is now beyond ...
Southern California housing market keeps getting worse
2008-03-13 19:33:00 This from the LA Times: Southern California home prices still dropping at record rate Southern California home prices continued to fall at a record pace in February, and are now at 2004 levels, a real estate information service reported today. The median price for a Southland home last month was $408,000, down 17.6% from a year ago, according ... More About: Real Estate , Market , Housing , Mortgages
Mortgage regulation - Too little too late
2008-03-13 19:22:00 Now Paulson is talking about regulating the mortgage industry. Where were these clowns back in 2003 when the housing bubble started getting out of control? USA Today is reporting this today: WASHINGTON ? Treasury Secretary Henry Paulson on Thursday unveiled proposals for cleaning up mortgage and securities markets, including a recommendation to license mortgage brokers. Speaking at the ... More About: Regulation , Real Estate , Mortgage , Mortgages , Late
Closing the gap
2008-03-13 19:12:00 We have been saying on this blog since 2005 that affordability is crucial for the housing market. Realtors have been saying that there is so much demand for real estate that people would pay anything to buy a house. Well, after the huge declines in home prices over the last year it looks like we ... More About: Real Estate , Mortgages
Home builders put new projects on hold
2008-03-13 18:49:00 With a declining housing market and a credit crunch, a lot of the projects planned a year or two ago are now being put on hold. This is what The Daily Breeze reported about new construction in Hawthorne, California: The slumping real estate market has brought Hawthorne’s housing boom to a standstill, interrupting plans for about ... More About: Projects , Real Estate , Home , Builders , Hold
The Dollar keeps sinking
2008-03-13 15:53:00 According to Bloomberg: March 13 (Bloomberg) — The dollar fell below 100 yen earlier today for the first time since 1995 and dropped to a record low against the euro after a Carlyle Group fund moved closer to collapse, adding to turmoil in financial markets. More About: Real Estate , Dollar , Mortgages
Horrible economic news keep sinking the housing market
2008-03-13 15:31:00 The housing market in the US keeps getting worse every day. Today we had bad news on several economic indicators. These are some of the bad news we received today according to Yahoo Finance: U.S. gold futures rallied to a record high of $1,000 an ounce on Thursday, fueled by a combination of a weakening dollar, ... More About: News , Real Estate , Market , Housing , Mortgages
Foreclosures keep increasing
2008-03-13 15:22:00 This from AP via Yahoo Finance: LOS ANGELES (AP) — Nearly 60 percent more U.S. homes faced foreclosure in February than in the same month last year, with Nevada, California and Florida showing the highest foreclosure rates, a research firm said. A total of 223,651 homes across the nation received at least one notice from lenders last ... More About: Real Estate , Foreclosures , Mortgages
More pain expected for credit markets
2008-03-13 12:44:00 According to Reuters: NEW YORK (Reuters) - This week’s central bank efforts to unfreeze credit markets will offer only temporary relief and more pain can be expected before a market recovery, analysts said at a credit conference on Wednesday. The U.S. Federal Reserve announced on Tuesday that it would inject up to $200 billion to strained credit ... More About: Credit , Real Estate , Markets , Pain , Mortgages
Wachovia says ?It feels like we have a ways to go?
2008-03-12 22:30:00 That is Wachovia Chief Risk Officer Don Truslow said on a Deutsche Bank Securities Inc conference call. According to Reuters via Yahoo Finance: “It feels like we have a ways to go,” Truslow said on a Deutsche Bank Securities Inc conference call. Referring to the nine innings of a baseball game, Truslow said he was “unsure” ... More About: Real Estate , Mortgages
Euro at a new all time high against the Dollar
2008-03-12 16:52:00 Without a doubt, Helicopter Bernanke is doing a great job of sinking the Dollar . According to CNBC: The euro rose to $1.55 for the first time since it was launched, according to Reuters Dealing data on Wednesday. The dollar fell broadly during the day as strong euro zone economic data renewed focus on the divergent paths of Euro pean ... More About: Commodities , Time , High
Higher interest rates mean fewer mortgage applications
2008-03-12 15:23:00 This from CNBC: U.S. mortgage applications dipped last week, reflecting lower demand for home loan refinancing as interest rates surged to their highest since October, an industry group said Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended March 7 fell 1.9 ... More About: Applications , Real Estate , Interest Rates , Mortgages
Even Realtors expect a weak spring housing season
2008-03-12 12:33:00 How bad can the housing market get? Much worse if you ask the experts. According to Reuters: NEW YORK, March 11 (Reuters) - U.S. real estate agents foresee a weak spring housing season, with sales expected to plunge from the same period a year earlier, Morgan Stanley said. The outlook suggests that seasonally adjusted home sales will continue ... More About: Realtors , Real Estate , Spring , Season , Housing
Krugman talks about the credit mess
2008-03-11 21:31:00 Take a look at what Paul Krugman wrote in the New York Times yesterday: The scariest thing I?ve read recently is a speech given last week by Tim Geithner, the president of the Federal Reserve Bank of New York. Mr. Geithner came as close as a Fed official can to saying that we?re in the midst ... More About: Credit , Mortgages , Mess
The Fed desperately tries to save the housing market
2008-03-11 18:50:00 The Fed keeps trying new ways to stop the collapse in the housing market. Lowering interest rates didn’t work. Injecting billions into the economy didn’t work either. According to USA Today: WASHINGTON ? The Federal Reserve on Tuesday dramatically stepped up its efforts to ease a widespread credit crsis that threatens the economy, announcing it will swap up ... More About: Real Estate , Market , Housing , Mortgages , Save
Crash proof by Peter Schiff
2008-03-11 12:08:00 Peter Schiff has been on all over the media for the past couple of years. The guy has a lot to say about our bubble economy and he has been right so far. He has a great book which I really recommend and the name is “Crash Proof : How to Profit From the Coming Economic ... More About: Real Estate , Mortgages , Peter
Mortgage rates are actually going up.
2008-03-08 23:12:00 The Fed can (and probably will) continue lowering short term interest rates but it is not doing much to bring down long term interest rates that dictate how much people pay on most mortgages. Look at what long term interest rates have done since the lows of mid January. This is definitely NOT good for ... More About: Mortgage , Mortgages , Rates
Don?t get too excited about the new conforming loans limits
2008-03-08 23:02:00 According to Bankrate.com these are some of the restrictions for these new loans under Fannie Mae’s guidelines: Jumbo-conforming mortgages have rather strict loan-to-value limits. If you’re getting a loan to buy your principal home, you can’t borrow more than 90 percent of the home’s value if you get a fixed-rate loan, and you can’t borrow more than ... More About: Loans , Limits , Mortgages , Conforming
Housing mess in Florida
2008-03-08 12:49:00 This from the Miami Herald: For all the turmoil that mortgage foreclosures are wreaking in global financial markets, some South Florida homeowners are watching the worst of the downturn unfold in their backyards — much of it the result of wild speculation gone sour. The homeowners on Alesio Avenue, in an upscale and otherwise stable Coral Gables ... More About: Real Estate , Housing , Mortgages , Mess
The U.S. lost 63,000 jobs in February
2008-03-07 15:26:00 First of all, I don’t enjoy reporting that people are losing their jobs. I guess I could say: “I told you so” but is irrelevant now. The more important point is for all of us to learn from our mistakes and avoid making this type of mistakes in the future. As reported by CNBC: U.S. employers cut ... More About: Lost , Jobs , February
Increase in conforming loan limits doesn?t necessarily mean much lower rate
2008-03-07 00:45:00 The FUH released the new limits for conforming loans but before you get all excited about it, take a look at what others experts are saying. According to Bankrate.com: In the market for a superconforming loan? You might have to wait, depending on the lender you choose. “Fannie and Freddie have to get their mechanical processes organized to ... More About: Real Estate , Loan , Limits , Mortgages , Lower
Can the housing market get any worse?
2008-03-07 00:16:00 Sure it can. Take a look at this AP article published by Yahoo Finance: Low Home Equity, Record-High Foreclosures: a Limp Housing Market Looks Even Weaker NEW YORK (AP) — Nervous homeowners and economic analysts have been wondering how much worse the housing market could get. On Thursday they got an answer: Plenty. Foreclosures are at a record ... More About: Real Estate , Mortgages
Homeowner equity falls to the lowest level since 1945
2008-03-06 18:04:00 According to AP via Yahoo Finance: Federal Reserve Report Shows Homeowner Equity Dipping Below 50 Percent, the Lowest on Record NEW YORK (AP) — Americans’ percentage of equity in their homes fell below 50 percent for the first time on record since 1945, the Federal Reserve said Thursday. Homeowners’ portion of equity slipped to downwardly revised 49.6 ... More About: Real Estate , Mortgages , Falls
Foreclosures hit a new record high
2008-03-06 17:02:00 If you thought that the housing market could not get any worse, think again. New numbers on foreclosures released today show how horrible things are and give us an idea of how much worse it can get in the next few months. It looks like the bursting of the last housing bubble is accelerating. According to ... More About: Real Estate , Foreclosures , New Record , Mortgages , High
Pending home sales down 19.6% from a year ago
2008-03-06 16:59:00 Even the Realtors have a hard time spinning the latest pending home sales numbers. This is what the National Association of Realtors (NAR) says: The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in January, held at a stable level of 85.9, unchanged from December, but was 19.6 percent below the January 2007 reading ... More About: Real Estate , Mortgages , Year
Don?t believe the ?days on the market? (DOM) number
2008-03-06 12:49:00 If you are crazy enough to attempt to buy a home in this rapidly declining housing market, here is some information that would prevent you from being mislead by the realtors. According to Bankrate.com: Data for average days on the market, or DOM, for houses in many U.S. markets is often skewed these days because so many ... More About: Real Estate , Market , Days , Number
Finally, somebody tells the full story about the subprime mess
2008-03-05 17:45:00 RECOMMENDED BOOK I recently got a chance to read a very interesting book that tells the full story about subprime and the crazy days of the last real estate boom. The name of the book is “Greed, Fraud & Ignorance: A Subprime Insider’s Look at the Mortgage Collapse” by Richard Bitner, a 14-year veteran of the mortgage industry. For ... More About: Story , Real Estate , Mortgages , Finally , Full
The U.S. keeps losing jobs
2008-03-05 16:50:00 According to CNNMoney, two more employment reports show signs that the economy is weakening. NEW YORK (CNNMoney.com) — February was another bad month for jobs as two key employment reports showed more signs of labor weakness Wednesday. In the private sector, nonfarm employment declined by 23,000 jobs for the month, according to the ADP National Employment Report. ... More About: Jobs
Helicopter Bernanke Update
More articles from this author:2008-03-05 16:39:00 Helicopter Bernanke is back out there promoting more bailouts to “distressed” homeowners. The word “distressed” here means people who bought more house than they could afford. Anyway, Bernanke gave a speech to the Independent Community Bankers of America Annual Convention in Orlando, Florida and talked about new ways the banks can help prevent the housing meltdown. ... More About: Real Estate , Update , Mortgages , Helicopter 1, 2, 3, 4, 5, 6, 7 |
