Market MeltdownSpencer Rascoff from Zilllow has provided us with the slides from Dr. Humphries’ presentation to the Seattle Real Estate Roundtable. Here’s the link.
Slide 13 has a heat map of peak-to-change in home values for King/Pierce/Snohomish counties. This slide alone is enough to convince me of the reason why Seattle-area real estate agents are bullish on [...]
CR has analysis on the new data showing that pay option ARM loans are performing worse than subprim. Because of the way the loans were structured, some option ARMs may not recast until 2014, putting a continuous drag on the housing industry into the future.
From the Washington Post by Matthew Richardson and Nouriel Roubini: “Nationalize the Banks; We’re All Swedes Now!”
the U.S. financial system has reached such a dangerous tipping point that little choice remains. And while Treasury Secretary Timothy Geithner’s recent plan to save it has many of the right elements, it’s basically too late.
The subprime mortgage mess alone [...]
From Aubrey Cohen at the Seattle PI:
HUD approves state’s foreclosure plan
U.S. Housing and Urban Development Secretary Steve Preston has approved Washington’s plan to use $28 million to help communities recover from the effects of high foreclosures and declining home values.
HUD previously had announced that the state would get the Neighborhood Stabilization funds, which are part [...]
I’ve been warning about the collapse of hedge funds during my classes and presentations over the past several weeks. Read the U.S. v. Maddof complaint pdf here.
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