Monthly Archives: May 2011

Housing Rebound Is Far Off

I haven’t heard any expert predict home values will rise overall in 2011. The next year will be the earliest we can expect a rebound. Meanwhile, bank lending standards and practices are easing. The AP says: The Realtors index showed … Continue reading

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Home Prices Rise Only In Seattle, Washington DC

Why are home prices rising in Washington D.C.? That’s easy. Because the government lives there and the government has been growing fat under the Democrats stimulus projects. As for the rest of the nation, it’s a disaster. According to the … Continue reading

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The Dreaded Double-Dip Housing Recession

Watching CNBC, Fox Business and Fox News today, you’d get the impression that falling home prices are a disaster for the economy. That’s not at all clear. Rather like pig prices or book prices, home prices simply transmit information. When … Continue reading

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FHA Reducing Size Of Mortgages It Insures

The Federal Housing Administration has only needed a billion or two billion dolars in bailouts. The FHA offers mortgage insurance, but its accounting is getting out of whack and the FHA will need to come back to Congress soon for … Continue reading

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Credit Crunch Ending

Banks are now lending money to people who’ve defaulted on their homes. Loans for people with good credit scores are increasingly easy to obtain. Credit card offers are going out in the mail again. I’ve even received a few. In … Continue reading

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Bank Stocks Remain Near Record Lows

The main reason for the low prices for bank stocks is the mortgage market. Banks retain trillions of dollars of shaky real estate holdings and mortgage-backed securities. The big banks appear solvent, but if the housing crisis gets worse, will … Continue reading

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Fannie Mae, Freddie Mac Don’t Want More Scrutiny

Sure, Fannie Mae and Freddie Mac are prepared to cost taxpayers hundreds of billions of dollars. That’s what will be required to bail them out. But Fannie and Freddie don’t want additional scrutiny. Their paperwork and procedures are so sloppy, … Continue reading

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Politicians Lick Their Chops At Opportunity To Plunder Banks

Banks are overwhelmed by foreclosures. Banks lose on average $40,000 per foreclosure wrote Dr. Thomas Sowell in his recent book on The Housing Boom and Bust. Banks don’t want to be in the real estate business. They want to be … Continue reading

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Pending Home Sales Fall

Why would you buy a home now when you could just hold on for a few months and in all likelihood get the home at a lower price? I know I’d wait if I had money right now. This is … Continue reading

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Banks Stock Shares Stay Low

And for good reason. The Obama administration is trying to negotiate a $20 billion slush fund from the banks to fund potential Democrat voters in 2012. Banks are one of those rare businesses which can’t invest as they see fit. … Continue reading

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