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The Banks Are Getting Killed
Reading Time: 5 minutesAs we all know, the housing market is driving everything in this bust. And the financials, as the source of all the financing for the housing market, have borne the brunt of the pain and have led the entire stock…
Foreclosure Market Booming In Phoenix
Reading Time: 2 minutesThe low end of the real estate market here – and in some equally hard-hit places like inland California and coastal Florida – is becoming as wild as anything during the boom. – David Streitfeld, “Amid Housing Bust, Phoenix Begins…
The Great Disconnect and The Fed Put
Reading Time: 6 minutesEveryone can see and feel that this is different and can sense the bizarre nature of the market response: we are in the top 10% of historical price earnings ratios for the S&P on prior earnings and simultaneously are …
More Signs Of A Bottom In Sacramento Home Market
Reading Time: 2 minutesWhatever the explanation, median sales prices of existing homes are stabilizing in the $160,000 range so far this year in Sacramento County. – Jim Wasserman, “Capital-area home prices stop slide, for now”, The Sacramento Bee, May 22 Just like in…
The Story of Taylor, Bean & Whitaker Mortgage Corp.
Reading Time: 4 minutesThe Wall Street Journal ran a fascinating front page story last Thursday on the implosion of Taylor, Bean & Whitaker Mortgage Corp, the nation’s 12th largest mortgage lender: “With a Quick Rise, Hard Fall, Home Lender Marked an Era”, The…
Upper End Not Participating In Housing Bottom
Reading Time: 5 minutesHousing is fast dividing into two markets: Sales of low- and moderately priced homes are picking up and values have stopped falling in some parts of the nation. But on the upper end, sales remain mired in a deep slump…