Hints of improvement in the housing market have been bandied about in the financial infomercial media, but just what does the evidence say? Click here…
The housing collapse is now accelerating into a crash. Data from the MBAA shows mortgage applications breaking down last week, hitting a new 5 year…
Housing market indicators show no sign of improvement in the supply demand equation. Even the hopeful signs that things may have stopped getting worse may…
Drew Matus, economist at Merrill Lynch, is throwing more kaka into our forecasting potion (here is the podcast):
Q2 GDP positive, stimulus checks are fading
Q3 GDP negative
Inflation remains very elevated all this year, Bernanke is stuck with 2% Fed Funds rate
Finally, inflation is dropping sharply down to 1.6% core rate in Q1 ‘08
Bernanke’s hands are finally […]
Housing market data has hinted that a bottom of sorts may have been reached in April and May. A closer look at the data reveals…
As interest rates jumped off the bed this week it doesn’t seem to me that Ben is trying to move them back. My personal opinion is that Fed’s power to change interest rates is very limited. Just heard a guy on the Bloomberg podcast saying that right after the war dollar made pretty much 100% […]
While 2/3 of metro markets in the US have reached “affordable” levels by traditional metrics the problem areas of California, Florida, Nevada, and Arizona have…
The following piece is adapted from a letter to a friend, discussing economist Nouriel Roubini’s “The Twelve Steps to Financial Disaster“; his explanation of why the Fed suddenly aggressively cut rates in January.
I completely agree with Roubini’s assessment as to the severe risks the economy faces. But he is wrong, wrong, wrong and CLUELESS […]
The National Association of Rattlers (NAR) reported today that sales of existing homes rose in November. Upon hearing the news, Steve Liesman (is that the…
Yesterday wasn’t the best of news days for Citigroup. The key stories I saw were:
Citigroup has appeared to clumsily reverse course on their previous “pledge” not to support their ailing SIV vehicles (now apparently reaching about $66 billion; formerly as high as $83 billion) in the form of statements by one William Mills:
