Arizona Real Estate Notebook 2 | David Rosenberg - My new favorite economist | | @September 05, 2010 10:56:11 AM | | Top | | | I asked a respected friend which economists he follows and his #1 was David Rosenberg.
Rosenberg is a bear [cough].
Rosenberg has been pretty accurate in his forecasts.
When I was checking him out last night I found this Wall Street Journal article from 2008 - before the meltdown - which turned out to be amazingly on [...] |
4 | How big is the home equity line of credit problem? | | @September 03, 2010 13:41:15 PM | | Top | | | Feeling too chipper this morning?
A friend emailed me this article on the massive refinancings during the bubble years. I knew refinancings were huge but nothing shows it better than the graph below.
Of course, many of those refinancings were cash out refinancings which is why many folks are under water right now or, perhaps, why [...] |
5 | My Phoenix area zip code charts updated through July 2010 | | @September 02, 2010 23:07:46 PM | | Top | | | You don’t need anything else to see what’s happening with the real estate market in your Phoenix area zip code.
I might do a video tutorial later on what the new data shows. I might not.
All 124 Phoenix area zip code real estate charts available in the right-hand column have now been updated through JULY [...] |
7 | On the lighter side | | @September 01, 2010 10:53:50 AM | | Top | | | Inspiration was Banks’ Self-Dealing Super-Charged Financial Crisis.
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8 | The disastrous fairness of U.S. housing policy | | @August 31, 2010 10:39:59 AM | | Top | | | I think government policies were a top cause of the real estate boom, bust and the family tragedies that followed.
[T]he political response to rising inequality—whether carefully planned or the path of least resistance—was to expand lending to households, especially low-income households. The benefits—growing consumption and more jobs—were immediate, whereas paying the inevitable bill could be [...] |
9 | Vulture mortgage investor a “miracle” to homeowner | | @August 30, 2010 10:22:35 AM | | Top | | | Wall Street Journal.
… an investment fund managed by veteran mortgage-bond trader Lewis Ranieri, acquired the loan at a deep discount and renegotiated the terms with the Reynolds. The balance due was cut to $243,182 from $421,731, and the interest rate was lowered. That reduced the monthly payment to $1,573 from $3,464, allowing the family to [...] |
10 | Great furniture. No house. Bummer. | | @August 28, 2010 10:31:41 AM | | Top | | | After you get that house under contract, don’t go out and buy a lot of furniture.
Big purchases done on credit could push your total borrowings so high that you no longer qualify to get that previously approved home loan! Yep, your mortgage company will check your credit again right before closing.
Next, [...] |
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