It’s the poster child for the entire housing bubble. There’ll be some other spectacular blowups, but this will be at the top of the pecking order. – Daniel Alpert, Managing Partner, Westwood Capital The fact that they have given the…
We’re not in a recession. We’re in a depression. – Bobby Mahan, a local real estate broker Two years ago, Peter Goodman wrote an award winning piece on the real estate bust in Cape Coral, FL: “This Is The Sound…
On Friday, the Sac Bee published Data Quick’s November data for the Sacramento-area single family home market. The most notable data point was the first year over year price increase for existing single family homes in Sacramento County since May 2006. …
I came across a letter today addressed to Geithner, Summers and Donovan (Secretary of Housing and Urban Development) from the National Association of Homebuilders, National Association of Realtors and the Mortgage Bankers Association asking for an extension of the $8,000…
Let me simply state at the outset that based on current projections, absent any catastrophic home price decline, F.H.A. will not need to ask Congress and the American taxpayer for extraordinary assistance – we will not need a bailout. –…
The securitization markets are dead. – Robert Shiller, Economist, Yale University Click here for larger graphic Fascinating and important article on the front page of today’s New York Times Business section showing that the securitization markets are completely dependent on…
Source: “FHA Loans Soar In Sacramento Area”, The Sacramento Bee, October 3 Does anybody doubt that the FHA and Ginnie Mae, which guarantees FHA mortgage backed securities, will need a government bailout just like Fannie and Freddie?
NOTE: Every week I write a Client Note for my clients. For a limited time, I am allowing non-clients to sign up and receive the Client Note. You can sign up at the top right hand corner of the website. …
One place to start is the Federal Housing Administration, the nation’s insurer of nearly $750 billion in outstanding mortgages. The agency acknowledged this month that a new but still undisclosed HUD audit has found that FHA’s cash reserve fund is…
Everyone coming through the door is talking about this tax credit. They know exactly what it is and when it expires, and they’re rushing. – Brad Cohen, Mason Dixon Funding, Rockville Front page Washington Post story today on the Nov….