Posts under ‘Real Estate’

Foreclosure activity slows further as the banks opt for short-sales and extend and pretend. A true real estate bottom will not occur until inventory corrects.

Spain nationalizes its 8th bank. FHA loans are going south, will we have to bail them out as well? Import prices fall to just .5% annualized in April.

Fannie Mae turns its first post crisis profit, a real step towards repayment of the 116.2 billion it owes the taxpayer, Freddie Mac owes another 72.3 billion.

European election losses spook the markets, could it happen here? Consumer credit jumps 21.4 billion in March, its largest gain since 2001, almost a new high.

Stocks struggled to begin the week as the French and Greek election results spooked the markets. There is little economic data today, consumer credit comes out after the close, and expectations are for credit use to expand further. Yet another former housing bear, Lewis Ranieri, has joined the crowd calling for a housing bottom this [...]

April employment misses big at just 115,000, the net birth/death statistical model adds 206,000 jobs to the month’s total. Mortgage rates hit a new record low.

Mixed economic data and a big miss in the ADP employment report continues to cast a shadow over the economy. Treasury ignores SIGTARP, more business as usual.

April ISM Manufacturing Index gains 1.4 points to 54.8. Data from CoreLogic shows that the expected foreclosure boom is a no show through the 1st quarter.

Spain joins the recession crowd in Europe. Chicago PMI and Dallas Fed both fall more than expectations. 5 banks failed Friday the year to date total is 22.

The CFNAI falls hard in March to -.29. Only 41% of the jobs lost in this recession have been recovered, construction remains particularly hard hit.