Pending Home Sales Down 19.6%
The hallucinogenic spin-meisters over at the National Association of Realtors are once again, misstating what their own data indicates:...
Ambac, Part III
Riddle Me this Batman: Over the past 2 months, we have seen at least 3 rallies predicated on the rumor of an Ambac (ABK) rescue...
Bernanke to Banks: Take the Hit
Will "Helicopter Ben" become "Bailout Ben"? My initial read of the FOMC Chair’s speech today suggest he will...
Foreclosure-proof Homeowners
Jingle Mail? Forget that! Its so 2007. For 2008, let’s try a little reverse financial engineering: Squatting in $3 million dollar...
Video: Floyd Norris on Foreclosures vs Homes Sold
As we noted over the weekend (Where Foreclosures > # of Homes Sold), Floyd Norris Off the Charts column covered the fascinating...
NYC Foreclosures on the Rise
Here’s the latest slice of legislative brilliance: A one year moratorium on foreclosures: The Bush administration recently...
Where foreclosures > # of Homes Sold
Speaking of charts: Floyd Norris’ always interesting Off the Charts column this week looks at foreclosures: "Mortgage...
Leveraged Losses: Lessons from the Mortgage Market Meltdown
My buddy Paul is off skiing in Aspen, Colorado leaving us worker drones to do the heavy lifting. Ski boy managed to forward me this...
Why the Fed is Compelled to Lie to Congress
I had an interesting conversation yesterday about Ben Bernanke’s testimony with a person upset over the obvious understatements,...
Declining Home Prices, Rising Mortgage Rates
courtesy of WSJ > The Fed’s effort to bail out the credit crisis and Housing crash has run into an odd problem: Despite cutting...