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Blog Details for "HousingDoom"
HousingDoomHousingDoomExpert news and opinion on the US housing market. A must read for anyone who is interested in real estate or considering buying or selling a home. In addition to timely posts on analyzing subjects ranging from subprime mortgages to national home sal Articles
Crack of Doom: Mission Accomplished
2008-03-24 08:02:00 Many thanks to "Rational Expectations" who sent us the following image and explanation: The mood on Wall Street seems akin to that on the USS Abraham Lincoln soon after the invasion of Iraq. My abilities with graphics packages are not very good, but perhaps you will see the irony. Mission accomplished!! I hope Doom ers enjoy this one ... More About: Housing Bubble , Crack
The Fed to buy or not to buy MBS? That is the question
2008-03-24 08:01:00 There were three interesting articles recently on Bloomberg, all speculating on MBS purchases by the Federal Reserve. First there’s the case for "Maybe they will" today: Forget lower interest rates. For the Federal Reserve to keep the financial markets from imploding it needs to buy troubled mortgage bonds from banks and securities firms, say ... More About: Question , Housing Bubble
Happy Easter From HousingDoom
2008-03-23 08:01:00 To all of our posters, readers, and contributors: A blessed and happy Easter . More About: Happy
The Credit Crisis: Storm over, or eye of the hurricane?
2008-03-22 15:30:00 We’ve heard a lot from the analysts and government officials on the effectiveness of the Fed’s intervention. While there is still plenty of concern, the general mood seems to be "Whew! We dodged that bullet!" Take this example from CNBC yesterday: Well-known banking analyst Richard Bove even delivered a report on the financial sector Thursday ... More About: Credit , Housing Bubble , Storm , Crisis , Hurricane
Op-Ed Friday: An Open Letter
2008-03-21 18:21:00 It’s Friday , and I thought I’d take a moment and respond to "Wilson" who’s multiple comments were in Igor’s clutches this morning. I rarely let Igor have his way with posters, but I thought I’d respond with this open letter, so Wilson will know why he’s the exception: Wilson- As you suspected, your comments will ... More About: Housing Bubble , Open , Letter , Open Letter
If Americans don?t read beyond the headlines, we deserve the information we
2008-03-20 14:49:00 No wonder we keep getting sloppy mainstream media reporting. It is all we can expect if readers aren’t going to take the time to give the information they are given a hard look. Case in point. R.L. Brown, a new home analyst in the Phoenix area, was quoted in an Arizona Republic article yesterday entitled Valley ... More About: Information , Housing Bubble , Read , Americans , Headlines
Your opportunity to rid the elderly of unwanted equity
2008-03-19 15:28:00 Here’s your chance to help the elderly rid themselves of unwanted equity, and make money doing it! More About: Housing Bubble , Opportunity , Elderly , Equity
Mesa, AZ: Collectors Seeing Less Garbage As More People Leave
2008-03-18 07:01:00 Tracking population trends can be a bit tricky, so different metrics are often used– driver’s license applications, home sales, etc. Here’s a new one: garbage collections, and it appears that Mesa’s population may be declining: [Thanks to M and L for this one!] The city’s solid-waste manager told the City Council last week that foreclosures and ... More About: People , Housing Bubble , Market trends , Leave , Garbage
J.P. Morgan finds Bear Stearns a ?well run bank?
2008-03-17 06:06:00 This unbelievable quote brought to us by Reuters yesterday evening: [Thanks L!] NEW YORK, March 16 (Reuters) - JPMorgan Chase said on Sunday that it found Bear Stearns Inc. a well run bank with good risk control. A JPMorgan executive said on a conference call that 200 employees scrutinized Bear Stearn’s books over three days. More About: Housing Bubble , Market trends , Bank
?We have all the ingredients for a major market meltdown?
2008-03-17 00:57:00 Feeling a little nervous about the market tomorrow? So is Peter Schiff: [Thanks L!] More About: Market , Housing Bubble , Ingredients , Major
Should/Could Institutional ?Debt Junkies? Go Cold Turkey?
2008-03-16 07:25:00 From today’s Telegraph: Central banks are trying to calm jitters by pouring billions of dollars into money markets to increase liquidity. Last week another $200 billion was dropped into the system. That was quickly swallowed up amidst screams for yet more emergency injections. Debt junkies, like heroin addicts, demand ever bigger fixes. And this brings us ... More About: Turkey , Housing Bubble , Cold , Institutional
?Integrity Has Been Stripped From The System?
2008-03-15 14:15:00 We keep watching an interest rate tweaked here, a program enacted there, and know that what is being done will not "save the markets"- housing or otherwise. Minyanville this morning though, offered this rather sane observation: The problem is liquidity, solvency, and something more: faith. No one wants to buy the bonds, SIV’s etc etc ... More About: System , Housing Bubble , Integrity , Stripped
Las Vegas: One Couple, Over 200 Overpriced Properties, 400 Straw Buyers, 1
2008-03-15 08:01:00 One Las Vegas couple has brought mortgage fraud to new heights: [Thanks L!] U.S. Attorney for Nevada Gregory Brower says Eve Mazzarella, 30, and her husband, Steven Grimm, 45, were indicted Wednesday on bank fraud, money laundering and aiding and abetting charges. Grimm was arrested Thursday in Las Vegas and is due to appear ... More About: Housing Bubble , Las Vegas Market , Couple , Buyers
Phoenix: ?Public Lender Foreclosure Auction? Tomorrow. Anyone Going?
2008-03-14 23:44:00 U.S. Home Auction is auctioning off 375+ homes in the Phoenix area tomorrow and Sunday: More About: Public , Housing Bubble , Foreclosure
S & P: Thanks for the heads up guys!
2008-03-14 21:57:00 A big hat tip to The Big Picture for this laugh of the day: Standard & Poor’s cut some of its credit ratings on investment bank Bear Stearns Friday following news of the bank’s cash crisis and emergency bailout. S&P cut its long-term counterparty rating on Bear Stearns to "BBB" from "A" and its ... More About: Housing Bubble , Market trends , Guys , Heads
Fiancial situation of Bear Sterns has ?significantly deteriorated?
2008-03-14 15:24:00 From CNBC this morning: Bear Stearns said its financial situation had "significantly deteriorated" during the past 24 hours and is receiving short-term financing from JP Morgan Chase to shore up confidence in its operations. J.P. Morgan will provide a secured loan facility for an initial period of up to 28 days, allowing Bear Stearns to access liquidity ... More About: Housing Bubble , Situation
Consumer Inflation Moderates In February? Really?
2008-03-14 14:17:00 It looked as though Lawrence Yun had started writing for Marketwatch this morning. The headline was Consumer inflation moderates in February : WASHINGTON (MarketWatch) — Led by a quirky decline in energy costs, U.S. consumer inflation moderated in February, opening the door for the Federal Reserve to keep cutting interest rates to support flagging economic growth. The consumer ... More About: Inflation , Market trends , Moderates
Op-Ed Friday: Can You Get A Loan?
2008-03-14 08:05:00 According to CNN yesterday, tighter lending standards have made it more difficult, and more costly, for even the best borrowers to get loans: The credit crunch has finally hit the traditional mortgage market. Investors are now shunning mortgage-backed securities issued by government sponsored enterprises Fannie Mae and Freddie Mac, which have been critical in keeping ... More About: Housing Bubble , Loan , Friday
House in foreclosure- selling everything
2008-03-14 08:01:00 When this Craigslist ad from Laveen, AZ says "House in foreclosure, selling everything"- they aren’t kidding. Here’s the picture with the ad: More About: Selling , Housing Bubble , Foreclosure
?Subprime? Tent City?
2008-03-14 08:01:00 According to BBC News, tent cities are now springing up outside of Los Angeles- filled with victims of the subprime crisis: Certainly these are people who have been hit by economic woes, but from the interviews, it sounds more like unemployment, not foreclosure, is the real culprit. The fully employed can rent. More About: Housing Bubble , City , Subprime , Tent City , Tent
Tucson Home Prices Experiencing A Long Term ?Blip?
2008-03-13 08:01:00 The headline in yesterday’s Arizona Star was Home Price Median Here Below $200K: The Tucson real estate market hit a milestone in February: The median price dipped below $200,000 for the first time in almost three years. The median price dropped to $199,900, down about 9 percent from $219,500 in the same month last year, ... More About: Housing Bubble , Long , Term
Phoenix February Median Home Price Down 15% Year Over Year
2008-03-13 08:01:00 Jay Butler of ASU Realty Studies has released his February housing report for Phoenix for the first time since the housing market began its decline in Phoenix, the median price declined at a greater rate than sales. Sales were down 11%: MESA, Ariz. — February is a short month, and it is traditionally not a ... More About: Housing Bubble , Home , Price , Year
Yun?s Solution For Housing
2008-03-13 02:13:00 Many thanks to L for the best laugh I’ve had all day. Lawrence Yun, chief economist of the National Association of Realtors has offered his own solution for rising foreclosures across the country. In his proposal he uses the level of mathematical logic we’ve come to expect from the NAR and their economists: Referring to other ... More About: Housing , Solution
Another Great Moment In Personal Finance
2008-03-11 08:01:00 From Sunday’s Wall Street Journal: Prices have dropped since last year when Greg Sax bought his St. Paul, Minn., home. But the 37-year-old first-time home buyer still feels lucky he made the move when he did. He was able to finance his purchase with no money down. And after talking with real-estate professionals in ... More About: Personal , Personal Finance , Finance , Housing Bubble , Great
HousingDoom?s Birthplace Hit Hard? Foreclosures Up 1275% YOY In Gilbert, AZ
2008-03-07 18:02:00 HousingDoom was born in June 2006 when this blogger had come to the conclusion that prices were overinflated and coming down in her hometown of Gilbert , AZ. The Arizona Republic reported yesterday: [Thanks M!] Hundreds of more Gilbert residents lost their homes to foreclosure in 2007 than 2006, according to data from Information Market, a real-estate ... More About: Foreclosures , Housing Bubble , Hard
Op-Ed Friday: Get My Wife A Visa, I?ll Buy Your Million Dollar House
2008-03-07 08:04:00 It’s Friday , so we’re willing to consider off-beat topics around here. Last night I discovered Igor with an unusual comment clasped between his talons. I thought about letting him have his way with it, when I thought, what the heck. I’ll not only let it through but post it. Here’s "Legal Immigrant’s" offer to buy ... More About: House , Wife , Housing Bubble , Dollar
Credit Markets: Investors Give A Vote Of No Confidence
2008-03-07 05:03:00 It was a bad day for the credit markets today: [Hat tip John!] The credit markets came under renewed stress Thursday as investors sought absolute safety and even moved away from debt issued by Fannie Mae and Freddie Mac, the government-sponsored mortgage lending enterprises. The intensifying credit crisis came as one regulator, Timothy F. ... More About: Credit , Markets , Housing Bubble , Vote , Confidence
Oh, Well? It Belonged To The Bank Anyway?.
2008-03-07 00:02:00 Equity seems to keep "Slip sliding away": 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 percent in the second quarter of 2007, the central bank reported in its quarterly U.S. ... More About: Housing Bubble , Market trends , Bank
NERB Financing
2008-03-06 08:01:00 Blanche Evans, Editor of Realty Times, discussed yesterday her idea for Bernanke’s principal reduction plan. A product she has dubbed a NERB: How about a new balloon note that only pays off when the home is sold with equity? Here’s how it can work. The lender can create a new loan package for a ... More About: Financing , Housing Bubble
Greenspan?s Easy Fix
More articles from this author:2008-03-06 03:39:00 It’s a little short on details, but Greenspan is right on what it takes for the credit markets to recover: A recovery in global credit markets will depend on stabilization in U.S. home prices and a massive reduction in housing inventory, former Federal Reserve Chairman Alan Greenspan told Deutsche Bank AG clients on Wednesday. "The ... More About: Housing Bubble , Market trends , Easy 1, 2, 3, 4, 5, 6, 7 |
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