Today’s housing news contributed to the market route but I don’t think the number were as bad as some people think.  Sales of existing homes were still up 9.6% from last year, and although they were down sequentially, inventories are low limiting sales opportunities.  It is going to be a tough slog especially with all...Read More

The housing market continues to show slow but solid improvement with single family starts rising by 3.2% from April on a seasonally adjusted basis.  While I don’t believe that housing starts or building permits are the best indicators for housing recovering as those numbers are more indicative of new construction.  The key to lifting housing...Read More

Mortgage servicing problems and mortgage fraud have had a dramatic change in the industry.  The automated machinery to approve as many loans as possible on the basis that the collateral will keep the issuers protected is over after the huge declines that we have seen in housing prices.  While changes had to be made in...Read More

The idea that the Federal Reserve can accurately forecast the financial results and capital ratios for these massive banks assuming an 8% decline in GDP, a 50% decrease in stocks, a 20% decrease in housing prices, and an unemployment rate of 13% is truly laughable.  There are just far too many inputs and projections to...Read More