Courtesy: NYPost
Subscribe to:
Post Comments (Atom)
Bubble Meter is a national housing bubble blog dedicated to tracking the continuing decline of the housing bubble throughout the USA. It is a long and slow decline. Housing prices were simply unsustainable. National housing bubble coverage. Please join in the discussion.
Posts
The Bubble Meter Philosophy
The best way to get the housing market thriving again is to drop prices to the point where supply equals demand. Home sellers might not like it, but it's good for buyers and it's great for Realtors.
For Realtors, the best way to make more money is to sell houses quickly, and the best way to sell houses quickly is to convince the seller to drop the price.
For Realtors, the best way to make more money is to sell houses quickly, and the best way to sell houses quickly is to convince the seller to drop the price.
My Other Blog
Housing Prices Since 1970
National Housing Sites
Regional Housing Sites
- Bay Area Real Estate Blog
- Boston Bubble
- Burbed (San Francisco)
- DC Home Prices
- Flippers in Trouble (Sacramento)
- Frankly Realty (Virginia)
- Greater Northern VA Housing Bubble Fallout
- Irvine Housing Blog
- New Jersey Real Estate Report
- Patrick.net (San Francisco)
- Portland Housing
- Proffesor Piggington (San Deigo)
- Sacramento Land(ing) Blog
- Seattle Bubble
- SoCal Real Estate Bubble Blog
- Socket Site (San Francisco)
- Vancouver Condo Info
Economic Sites
Iacono Research (ad)
When will inflation-adjusted DC-area housing prices return to pre-bubble levels?
Are housing prices about to experience a double-dip?
How should the U.S. government balance the budget? (Check all that apply.)
What is your political affiliation?
What sparked the housing bubble?
Is the recession over?
Who bears responsibility for the housing bubble? (Check all that apply.)
What is your living situation?
Was subprime lending a cause or an effect of the housing bubble?
Follow Bubble Meter
Bubble Meter Archive
-
▼
2008
(518)
-
▼
January
(14)
- CountryWide CEO Mozilo's Lie
- Case Shiller Index Way Down; Washington, DC Area D...
- House Sales Dive
- 60 Minutes: House of Cards
- BubbleSphere Roundup
- Housing Bubble Song
- Lawrence Yun Spouts More Nonsense in Denver
- Your Turn: How Much Have Prices Fallen in the DC A...
- BubbleSphere Roundup
- Foreclosure Rate by County
- Part of Sculpture at Realtors' Washington, DC Office
- Washington - Baltimore , RE Sales Numbers. Decemb...
- Lawrence 'paid spinner' Yun
- 2009 Predictions
-
▼
January
(14)
David,
ReplyDelete$394 loss on $7 billion of un-sellable Jumbo loans! Countrywide like every other bank has to find a way to reduce risk on Jumbo loans.
http://biz.yahoo.com/ap/080129/earns_countrywide.html
Oh, I presume everyone already read about how Fannie and Freddie's bond buyers do not want to buy loans above $417k. That's putting a stopper in raising the conforming limit to ever $730k.
But $730k won't even save some neighborhoods...
How many of the remaining jumbo loans will turn south in 2008? How much 'neg-Am' income that Countrywide has booked will disapear as loans reset (and default) or will the govenrment prevent the reset and thus erase further value off Countrywide's already weak books?
Those unrealized gains on so many Jumbo mortgages are the scary story of 2008.
Got popcorn?
Neil
The increase in jobless claims was more than triple what economists had been expecting although part of the increase was blamed on technical difficulties in adjusting the figures around the Martin Luther King Jr. holiday.
ReplyDeleteBut private economists said they believed the figure was accurately pointing to a weakening in the job market that reflects the significant slowdown in the overall economy. Ian Shepherdson, chief U.S. analyst at High Frequency Economics, said he believed the underlying level of jobless claims currently is around 350,000, an indication of a deteriorating labor market.
From:
http://biz.yahoo.com/ap/080131/economy.html
I presume everyone already read how countrywide is cutting HELOC credit lines? The 4th quarter looks to have been sustained by borrowing against homes. That has gone on longer that I thought it could; it won't continue through 2008.
Got popcorn?
Neil