Housing

Expect a companion piece to this based on what is now happening in Europe. To put it simply, it is all bailout all the time as officialdom desperately uses extend and pretend liquidity to forestall the inevitable solvency problems. This…

The National Association of Realtors® announced today that existing home sales dropped a hefty 7% in January, adding further evidence that the resurgence of the housing sector is stalling. Wednesday, we saw a very soft new home sales…

AIG posts $8.9 billion loss | Reuters CDS demonization watch, Greece edition | Felix Salmon Get a Credit Card Through Credit Unions and Small Banks to Save – Credit Cards – Lifehacker Welcome to the revolution Mr. Weidner – Abnormal…

This comes today via Reuters: The Commerce Department said sales dropped 11.2 percent to a 309,000 unit annual rate, the lowest level since records started in January 1963, from an upwardly revised 348,000 in December. It was the…

The December 2009 data for the widely followed S&P/Case-Shiller Indices were released this morning.  The data are showing a mixed picture. On the one hand, the unadjusted numbers are down on both a month-to-month and year-over-year…

I am back from a week in Mexico.  And here in DC there are still mountains of snow on the ground. Here are some links I picked up on yesterday on my way home. Cheers. Edward PS. – the article from Worthwhile Canadian Initiative is…

Folks, if I can get out of here , I will.  I need the sun and that relaxation that only Mexico can provide.  So expect light posting next week.  Meanwhile, DC expects yet more snow on Monday (ha ha ha – Schadenfreude – ha…

Given my post on Jim Rogers’ doubting Chanos’ knowledge about China, I thought it appropriate to post the latest Chanos interview on the China property bubble.  This call by Chanos is really setting us up for some seriously…

Commenting about the recent Wall Street Journal article “Housing rebound in Canada spurs talk of new bubble,” Rolfe Winkler of Reuters says Last week Paul Krugman toasted the sobriety of Canadian banks. Among other things, he said that…

In the lead-up to the credit crisis, I really didn’t write a considerable amount about second mortgages despite my focus on credit writedowns. At that time, I was more focused on writedowns from securitized mortgage paper (and later…