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July 2009 - Around The Web



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  • Monthly Case Shiller
    Published Wed, Jul 29 2009 12:26 PM by feedproxy.google.com
    This should be the last of the Seasonal adjustment discussions, but note the difference between the two data runs: Non Seasonally Adjusted and Seasonally Adjusted . click for larger chart via Bianco Research ~~~ Give em a few secs to round up the media...
  • Shiller: Home Prices Downward Momentum Abating
    Published Wed, Jul 29 2009 12:25 PM by feedproxy.google.com
    Macromarkets Chief Economist Robert Shiller and Macromarkets CEO Sam Masucci weigh in on the state of the housing market and economy. Video (autostart) after the jump July 28, 2009
  • Randoms: Has Housing Bottomed?
    Published Wed, Jul 29 2009 12:24 PM by www.minyanville.com
    As I walked out of my apartment this morning and scooped up my newspapers I was struck by the universal optimism in the headlines.The New York Times front-page headline proclaimed "3-Year Descent in Home Prices Appears At End: New Hope for Recovery...
  • Foreclosure Chart of the Day
    Published Wed, Jul 29 2009 12:24 PM by Seeking Alpha
    submits: The chart comes from the : According to Congressional from CRL director Keith Ernst, the 1.5 million homes which have already been lost to foreclosure are just the tip of the iceberg compared to the 13 million total foreclosures expected over...
  • Feds Push Mortgage Companies to Modify More Loans
    Published Wed, Jul 29 2009 12:24 PM by www.themarketguardian.com
    From the NY Times: The Obama administration, scrambling to get its main housing initiative on track, extracted a pledge from 25 mortgage company executives to improve their efforts to assist borrowers in danger of foreclosure. In an all-day series of...
  • A Look at the Recovery
    Published Wed, Jul 29 2009 12:09 PM by feedproxy.google.com
    Earlier this week my boss, Atlanta Fed President Dennis Lockhart, weighed in with his views about the shape of the economic recovery to come while : "The economy is stabilizing and recovery will begin in the second half. The recovery will be weak...
  • Emails from Housing Hypocrites about Ethics
    Published Wed, Jul 29 2009 8:54 AM by feedproxy.google.com
    In I discussed how consumers "trapped in a whirlpool of debt, interest payments, and fees spiraling out of control, finally see the light of preemptive defaults and elect to walk away". In response, I received an email from "HH" calling...
  • Study: Using Home ATM Led to Most Foreclosures in SoCal
    Published Wed, Jul 29 2009 8:53 AM by Calculated Risk Blog
    Nick Timiraos at the WSJ writes: (ht Jack) Why are so many homeowners underwater on their mortgages? ... Michael LaCour-Little, a finance professor at California State University at Fullerton, looked at 4,000 foreclosures in Southern California from 2006...
  • Zell on Real Estate
    Published Wed, Jul 29 2009 8:52 AM by Calculated Risk Blog
    To preface this post, here are from the April 2008 Milken conference: Sam Zell started by saying we need to separate commercial from residential. Commercial will be fine in his view (not my view). Also Zell thinks losses are overstated for investment...
  • A Few Comments on Housing Reports
    Published Wed, Jul 29 2009 8:51 AM by Calculated Risk Blog
    This is very different for me ... First, if I've let a little hubris slip into my recent posts, I apologize. My goal is to be the most humble blogger in the world (an old joke). Second, I am not an investment advisor and I do not offer investment...
  • CRE: Office Building Owners Walk Away
    Published Wed, Jul 29 2009 8:50 AM by Calculated Risk Blog
    From the SF Gate: (ht John, Jay) The owners of a premier San Francisco office tower plan to forfeit the property to their lenders, the city's second distressed transaction involving a major commercial building in recent weeks ... Hines and Sterling...
  • Worst June New Home Sales Since 1982
    Published Wed, Jul 29 2009 8:49 AM by feedproxy.google.com
    Most of the Media and Wall Street economists have had the inherent tendency to get this data wrong . . . the latest batch of releases is no different . . . Consider these charts before you conclude that Residential RE is improving: > June 2009 NSA...
  • Point/Counterpoint: Does the U.S. Need More Government Stimulus?
    Published Wed, Jul 29 2009 8:48 AM by Wall Street Journal
    Most economists say that the U.S. economy will return to growth in the current quarter. But the job market is expected to continue to remain under pressure. Some have argued that another round of stimulus is necessary to prop up the job market. Here Laurence...
  • Geithner: China Needs to Be Less Dependent on U.S. Consumer
    Published Wed, Jul 29 2009 8:47 AM by Wall Street Journal
    Treasury Secretary Timothy Geithner said China will have to adjust its economy to be less dependent on the U.S. consumer as Americans go back to “living within their own means.” Mr. Geithner, speaking at a dinner marking the end of two days of discussions...
  • Five Things: Housing Staggers Toward a Bottom...
    Published Wed, Jul 29 2009 8:47 AM by www.minyanville.com
    1) Housing Staggers Toward a Bottom..."The people who demand pity of you hate you afterward for giving it."- William Gaddis "The Recognitions"There are some weird ideas on the streets these days and not all of them come from the Federal...
  • The Greatest Subprime A.R.M. of All is our Debt
    Published Tue, Jul 28 2009 5:17 PM by www.safehaven.com
    The fact that the Treasury Department must issue a record amount of debt in the ensuing years will put upward pressure on interest rates. Add to that a record-low Fed Funds rate and a $1.7 trillion monetary base, and the prospects for ...
  • Case-Shiller House Price Seasonal Adjustment and Comparison to Stress Tests
    Published Tue, Jul 28 2009 5:17 PM by Calculated Risk Blog
    Case-Shiller released the May house price index this morning, and most news reports focused on the small increase, not seasonally adjusted (NSA), from April to May. As I noted earlier, the seasonally adjusted (SA) data showed a small price decline from...
  • U.S. to mortgage firms: Pick up the pace
    Published Tue, Jul 28 2009 5:04 PM by rss.cnn.com
    Loan servicers will "significantly" increase the pace of mortgage modifications under the Obama foreclosure prevention program, the Treasury Department said Tuesday.
  • Home Prices, Jobs Will Come Back Sooner in Some States Than Others
    Published Tue, Jul 28 2009 5:03 PM by Wall Street Journal
    Today’s offered some hope that the worst of the economic storm has passed, but they are also a stark reminder that not all regions of the U.S. are equal. Home prices often are discussed on a national basis. Easy credit earlier this decade was a trend...
  • Freddie Mac Launches Effort to Help Servicers Handle Record Demand for Home Affordable Modifications
    Published Tue, Jul 28 2009 5:02 PM by www.freddiemac.com
    McLean, VA – As part of its support for President Obama's Making Home Affordable program, Freddie Mac (NYSE:FRE) today announced an agreement with Home Retention Services, Inc., a wholly owned subsidiary of Stewart Lender Services, Inc., to help several...
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