The data tables in this front page Sacramento Bee article from yesterday are incredible.
Default notices and foreclosures in the 8 county Sacramento area are absolutely surging: up 158% and 516%, respectively, from the year ago period. In fact, default notices and foreclosures outpaced sales of all homes in the third quarter.
This is starting to get ugly. Emphasis on “starting”.
The Wall Street Journal today published an editorial, “The House the Fed Built” (subscription required), echoing the interpretation of recent Fed history I posted a couple weeks ago: This is the housing market the Federal Reserve built. That is to say,…
A couple weeks ago DataQuick, the excellent real estate information firm providing data primarily for the California market, came out with its July 2006 numbers. The Sacramento Bee ran a sobering article based on the report: July … saw the biggest drop…
A little more than three weeks ago (Fri Sept 8th) Standard Pacific Homes (NYSE: SPF), a home builder with substantial exposure to the California market (see pg. 11 of their 2005 annual report which shows all the markets they operate in and…
Apparently that new retail center they’ve been putting together along Douglas Boulevard, east of Sierra College Boulevard, is opening up this month: Developer Lisa Powers has assembled an intriquing mix of clothing boutiques and eateries, along with shops selling pottery,…
A starting point for becoming knowledgeable about business and finance is simply to read The Wall Street Journal everyday. If you just do that, you’ll find your knowledge and understanding growing all the time and you’ll be way ahead of…
I don’t want to be too sophisticated here, but 2007 is going to suck, all 12 months of the calendar year. Our future is not as bright as we would like it to be. – D.R. Horton CEO Donald Tomnitz,…