Analysis Topic: Housing Market Price trends
The analysis published under this topic are as follows.
Sunday, July 27, 2008
Government Plays Dr Seuss By Artificially Propping Up House Prices / Housing-Market / Government Intervention
By: David_Vaughn
Ever notice how those books at home on your shelves seems to grow higher and higher over the years? I noticed the same thing myself and decided to weed out the old books that no longer seemed worthwhile to keep. Among those dusty books I discovered were books that I read to my child just a few “short” years ago. The Tonka truck book, the book about trains and ships, Yertle the Turtle, Dr. Seuss. Read full article... Read full article...
Tuesday, July 22, 2008
UK House Price Crash of Summer 2008 / Housing-Market / UK Housing
By: Nadeem_Walayat
The latest UK house price data as released by Rightmove shows that the UK housing market crash continues to accelerate by registering a fall of 1.8% for July 08. The rate of descent on an annualised basis now extends to -11% and on a quarterly basis to -6.7%, far above the originally forecast crash rate of 5% per quarter as per analysis of November 2007 for the quarter April to June 08, which came in at -5.8%. The housing market is in full panic selling mode, as property owners slashing prices are met with silence from potential home buyers. Read full article... Read full article...
Monday, July 21, 2008
US Mortgage Lenders Implode / Housing-Market / Credit Crisis 2008
By: Mike_Shedlock
There are two important financial headlines this evening and the futures are solidly red. Let's take a look at news regarding Wachovia and Bank of America starting with the former.Wachovia Halts Wholesale Mortgages
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Saturday, July 19, 2008
Fed Asks for Blank Check for Fannie and Freddie in Flawed Rescue Plan / Housing-Market / Government Intervention
By: Mike_Whitney
The Fed's emergency rescue plan for the financial markets is hopelessly flawed. It's a scattershot approach that doesn't address the real source of the problem; an unregulated, unsustainable structured finance system that emerged in full-force after 2000 and spawned a shadow banking system that creates trillions of dollars of credit without sufficient capital reserves. This is the heart of the problem and it needs to be debated openly. The present system doesn't work; it's as simple as that. It makes no sense to provide trillions of dollars of taxpayer money to shore up a system that is essentially dysfunctional. It's just throwing money down a rat-hole. Read full article... Read full article...
Friday, July 18, 2008
Protecting Mortgage Giants from Slingshots / Housing-Market / Government Intervention
By: Doug_Wakefield
Whether he intended to or not, Treasury Secretary Henry Paulson's statements, in a July 15th Bloomberg article titled, “Paulson Sees Fannie, Freddie Share Purchase Only If Necessary,” show the weakness of our current financial markets.
“Fannie Mae and Freddie Mac ‘represent the only functioning secondary mortgage market,' Paulson said in written testimony today to the Senate Banking Committee. ‘Our plan is aimed at supporting the stability of financial markets, not just these two companies.'”
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Friday, July 18, 2008
Solution to the Current Crisis- Dissolve Fannie And Freddie / Housing-Market / Credit Crisis 2008
By: Joseph_Brusuelas
The Chinese symbol for crisis also can be expressed as an opportunity. The current collapse of confidence in the domestic system of finance and financial leadership provides such a potential moment. The three part proposal to rescue Fannie Mae and Freddie Mac has bestowed upon our political and economic leaders the responsibility of ensuring that no one company again becomes too big too fail. The crisis requires more than the avoidance of moral hazards. Rather, the solution to the current financial crises and its legislative response requires that no firm or enterprise ever again be permitted to obtain an implicit guarantee of Federal largesse. Fannie Mae and Freddie Mac need to be taken under federal protection, its assets used to cover the risk of the taxpayer bailout and its charter legislatively dissolved. Read full article... Read full article...
Friday, July 18, 2008
Federal Housing Administration Mortgage Market Ticking Time Bomb / Housing-Market / US Housing
By: Money_Morning
Shah Gilani writes: The fundamentals of economic strife based on the disastrous collapse of the U.S. housing market will not get better any time soon. In fact, what's being pushed through both houses of Congress, even as you read this, is so dangerous that it should be immediately abandoned and revealed for what it is - a ticking time bomb labeled with the initials FHA. Read full article... Read full article...
Sunday, July 13, 2008
Fannie Mae, Freddie Mac- The Mother of ALL Bailouts! / Housing-Market / Credit Crisis 2008
By: Nadeem_Walayat
The US Government has gone all out to perform a full scale rescue of Fannie Mae and Freddie Mac to prevent a collapse of the US financial system. The move follows Friday's near collapse of both companies stock prices which saw shares of the too big to fail institutions plunge by more than 50%.
In a joint move the White house and Federal Reserve issued a number of initiates aimed at supporting both companies which include -
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Saturday, July 12, 2008
Farewell Indymac, Who's Next? (Part1) / Housing-Market / Credit Crisis 2008
By: Mike_Stathis
On Friday, IndyMac joined the long and growing list of bankrupt mortgage companies (Accredited Home Lenders, Novastar Financial, Fremont General and dozens of others) that have been taken down by what has already surpassed mortgage and bank losses of the Savings & Loan Crisis. While Indy marks only the sixth bank failure since the official start of the banking-real estate avalanche is February 2007, you can bet this is only the beginning. The last wave of bank failures in the U.S. occurred during the recession of '90-'91, when 502 banks failed in a 3-year period. Prior to that, more than 1,600 banks insured by the Federal Deposit Insurance Corporation (FDIC) were closed or received FDIC financial assistance between 1980 and 1994 due mainly to the Savings & Loan crisis.Read full article... Read full article...
Friday, July 11, 2008
UK House Price Crash In Progress! / Housing-Market / UK Housing
By: Nadeem_Walayat
The Halifax house price data for June revealed a 2% fall in house prices for the month or a loss of value of £3,500 from May, house prices are now down 6.1% on an seasonally adjusted basis, which is a far cry from March 2008 when the bank's chief economist was painting a bullish picture for house prices. However the housing market is in CRASH mode for the quarter April to June 08, as forecast by the Market Oracle in November 2007 -
"house prices could register a drop of as much as 5% in the quarter April 08 to June 08" Read full article... Read full article...
Wednesday, July 09, 2008
Finally the Truth on the US Housing Bear Market / Housing-Market / US Housing
By: Mike_Stathis
You've all probably seen or heard about the recently released Harvard Housing study. Among other things, the report discusses the fact that the median wage-earner is unable to afford the median priced home and forecasts a drop in real estate prices to the 1999 level. The fact is that the study comes about one year too late for investors and consumers. Read full article... Read full article...
Saturday, July 05, 2008
UK Housing Bust to Hit British Pound / Housing-Market / UK Housing
By: Money_and_Markets
Jack Crooks writes: I've pointed out many times here in my Money and Markets column that interest rates and economic growth are always the two primary fundamental drivers of currency prices. Therefore, it's no stretch to conclude that housing has been the Achilles' heel for the U.S. dollar.
But what if there's another major currency country that has a much worse outlook for its housing market? Would we then expect bad housing news to play a similar role in pushing its respective currency lower? I think the short answer is: Yes!
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Wednesday, July 02, 2008
UK House Price Crash is Here as Forecast! / Housing-Market / UK Housing
By: Nadeem_Walayat
The Nationwide following on from a series of house price data releases by several mortgage banks and institutions in recent weeks confirmed that UK House price declines are set to accelerate over the summer months as the market heads for a crash that I first warned of occurring in the quarter April to June 2008 in November 2007. -
"house prices could register a drop of as much as 5% in the quarter April 08 to June 08"Read full article... Read full article...
Tuesday, July 01, 2008
UK Housing Market Transactions Slump to Historic Low / Housing-Market / UK Housing
By: Nationwide
• House prices fell by 0.9% in June, less than half the rate of the previous month• Prices are 6.3% lower than this time last year, but remain 4% higher than 2 years ago
• House purchase transactions remain subdued across the UK
• Northern Irish and Scottish activity levels stand out at each extreme
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Sunday, June 29, 2008
US House Prices Forecast 2008-2010 / Housing-Market / US Housing
By: Nadeem_Walayat
US House prices continued to plunge for April 08 data, reaching an extreme low reading of down 16.3% on a year earlier as measured by the S&P/ Case-Shiller Composite-10 and down more than 19% from the mid 2006 peak. The rate of decline is the worst since the Great Depression and signals further distress in the real estate linked credit markets and therefore a continuing drag on the US economy in the face of the continuing deleveraging of the mortgage backed derivatives markets. Read full article... Read full article...
Saturday, June 28, 2008
Californian Housing Market in Meltdown, Liar Loan Writedowns Have Barely Begun / Housing-Market / US Housing
By: Mike_Shedlock
My
friend "TC" monitors C.A.R. data, DQNews data, and Case-Shiller Data. Case-Shiller data was out a few days ago and you can read about it in Case Shiller Futures Suggest 2010 Housing Bottom . What follows is an analysis of data from the California Association of Realtors from "TC" who tracks the data month by month and is looking at things from perspective of percent declines from the peak.
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Friday, June 27, 2008
UK Housing Bear Market Threatening Economic Deflation / Housing-Market / UK Housing
By: Nadeem_Walayat
May saw another sharp plunge in UK house prices towards what is likely to be termed as a mini-crash in UK housing market for the quarter April to June 08. Many homeowners who bought early into the current boom may be consoling themselves with having built up an healthy level of equity that is able to weather the downturn in UK housing market, after all someone buying 10 years ago would have racked up gains of over 180% to the 2007 peak and even after the initial forecast for a 2 year bear market if 15% would still stand to be some 140% richer. Read full article... Read full article...
Thursday, June 26, 2008
US New Homes Taking Longer Sell / Housing-Market / US Housing
By: Paul_L_Kasriel
I hope the Census Bureau can count the number of people in the U.S. better than it can count the number of new homes sold. The first estimate of a given month's sales is notoriously off. So, we should take the first estimate of May sales and inventories of new homes with a grain of salt. Be that as it may, May new home sales retreated 2.5% to an annualized pace of 512 thousand units. The low sales rate for this cycle to date is 501 thousand established in March. The sales region that really put a dent in the total was the wild West, where sales declined 11.63% to a cycle low annual rate.Read full article... Read full article...
Wednesday, June 25, 2008
Case-Shiller House Price Index Declines - Light at the End of the Tunnel? / Housing-Market / US Housing
By: Paul_L_Kasriel
The Case-Shiller Composite 20 house price index dropped at an annual rate of 18.5% seasonally adjusted (by me) in April compared with March. This was a relatively sharp slowdown in the rate of descent as the March month-to-month annualized decline was 24.2%. On a year-over-year basis, this house price index descended at its fastest rate to date, 15.3% vs. 14.3% in March (see Chart). If, in fact, the slowdown in the rate of price decreases on a month-to-month basis is signal, not noise, then perhaps we are nearing an inflection point in house prices.Read full article... Read full article...
Wednesday, June 25, 2008
Case Shiller Futures Suggest 2010 US Housing Market Bottom / Housing-Market / US Housing
By: Mike_Shedlock
The April S&P/Case-Shiller Home Price Indices are now out. The index shows show annual declines in the prices of existing single family homes across the United States continued to worsen in April 2008, with all 20 MSAs now posting annual declines, 13 of which are posting record low annual declines, and 10 of which are in double-digits.
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