The major problem with the economy is that consumers are not spending as a result of the record household debt built up over the last few decades. Until this huge amount of debt is pared down to more normal levels, fiscal and monetary policy can d…
Tag Archive for First Time Home
Housing
Sour Housing Notes
by Lee Adler • • 0 Comments
The following is an excerpt from the Professional Edition Fed Report of December 23. It was also made available to Wall Street Examiner Economic Bulletins, a free email service, on December 24. You can subscribe via the form in the left sidebar. The Mortgage Bankers Association’s Mortgage Applications index announced Wednesday did a belly flop.…
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The Bad, The Ugly, and The Uglier- Professional Edition Fed Report
by Lee Adler • • 0 Comments
Tax receipts collapsed at an annual rate of 18% in October, which is far worse than I had feared based on our tracking of the daily data. At the same time, mortgage purchase applications collapsed last week, signaling the tailspin we expected as the first time home suckers panic subsided. The extension of this subsidy…
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Case Chiller – False, Phony, and Fictitious
by Lee Adler • • 2 Comments
I made a little chart yesterday for a free podcast that I didn’t have time to post over on Radio Free Wall Street. I’m discovering that it’s a lot quicker to type a post than it is to talk about an issue for a few minutes and then produce a decent sounding podcast. But that’s…
