Jeff Miller

Who Really Understands Housing?

Troyhector --

I agree that policies have not done a good job of addressing this market. We might disagree about the errors. My feeling is that two different administrations have done a poor job with mark-to-market, handling "toxic" assets, and restoring a normal credit market.

I appreciate your comment.

Jeff


On Aug 20 05:11 PM Troyhector wrote:

> The housing delinquencies and foreclosures have seen an alarming
> rise in the recent month. Among the 34 million loans that are tracked
> by The Office of the Comptroller, the foreclosure rates rose by 22%
> and surprisingly, this is a 73% increase as compared to the same
> period last year. This puts forth a question whether the lawmakers
> are intelligently tackling the problem??
>
> Read More: www.housingnewslive.com

Who Really Understands Housing?

Fred -- I have no personal ongoing link to real estate transactions and make no profit from them.

At the moment, I am long REIT's via our trading model, something that I document each week. We may change this position at any time.

My comments on housing relate more to the fact that this a crucial part of the analysis of a recovery. I would like to see more balanced coverge of the housing market.

Just a thought...

Jeff


On Aug 20 11:24 AM Fred W wrote:

> Real Estate agents and mortgage brokers...enough w/ the BS. Very
> few of you were worth a damn to the "value" of any transaction...your
> goals were and are still clear: make as much money as you can doing
> as little as you can. During your heyday you all were pulling between
> 7-9% in transactional fees for doing almost nothing of value. <br/>To
> the "few" that actually provide good advice and value to RE transactions,
> my apologies for lumping you in with the shills.

Who Really Understands Housing?

nym - There is no jumbo market. At some point securitization will return. As I have written, it was a good idea, poorly implemented. I am in touch with some big players who note a revived interest in solid securitization of lending, with valid ratings.

That is the improvement I had in mind. There are some other problems with appraisals and emphasis on distressed sales. My point is that it will take time.

A good question, and I hope I have clarified a bit.

Thanks,

Jeff


On Aug 19 09:55 PM nym wrote:

> "As credit conditions improve...." Please elaborate. Sure the lax
> rules of the subprimes et al. are gone, but qualified buyers can
> get mortgages. And surely you don't think interest rates are going
> to get lower.