The BEST EXPLANATION of our current economic status
Bill Clinton was on Letterman on the 22nd. He gives a concise and insightful view of the instability in the financial markets. Here’s the youtube replay:
Why Realtors love an erratic stock market
span.jajahWrapper { font-size:1em; color:#B11196; text-decoration:underline; } a.jajahLink { color:#; text-decoration:none; } span.jajahInLink:hover { background-color:#B11196; }The last year has brought a lot of uncertainty in the real estate market. Where’s the bottom? Where’s it going? When faced with uncertainty seasoned investors watch and buy when it makes sense. Novice investors wait until the market rebounds then [...]
NOD Filings Plummet!
Did the market suddenly move from 50+ Notices of Default filed per day to 3? Is the market miraculously fixed overnight? I was at a meeting this week where we were discussing the market, foreclosures and Notices of Default. Up until September 6th, NODs were being filed at a rate above 50 per day and [...]
Three statistics that suggest a rosy market
I keep saying the market “feels” better, faster, stronger. It’s just so California. Being surrounded by engineers in this silicon valley, I know you’ve been frustrated with all my “feelings” – too reminiscent of a Barbara Streisand song – so here are a few numbers to sink your teeth into. 1) Sales – up 16.8% [...]
New Regulations Chase ALL Mortgage Loans Out of NY State
For the last few years – perhaps as many as eight or ten – there have been increasing reports of abuses in subprime lending. Folks that could have/should have qualified for a “better” loan, didn’t. Credit worthy borrowers were charged multiple points and high interest rates. The consumer wasn’t saavy, didn’t speak the language, or [...]
Fed Takes Over Fannie and Freddie
Got this news alert today: The federal government has taken control of ailing mortgage giants Fannie Mae and Freddie Mac. Bush administration officials announced Sunday that the executives of both institutions had been replaced. This seems like de javu of the S&L crisis in the 90s only no resolution trust corporation to sell off foreclosed [...]