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First Time Homebuyer Credit: Promoting Fraud?

The gov't is being the gov't.
The NAR is being the NAR.
People are being people.
What is so surprising about that!

NYSE 'Volume' Lowest Since January 5

How smart do you have to be to realize; 1.Fundamentals are not strong.
2. Too many workers have lost 40% of their 401(k) savings.
3. Too many former workers have lost their jobs.
4. Too many people have lost their homes.
5. More taxes won't help a failing TARP adventure.
6. We're dumping dumping billions into car companies to build more cars that most people don't have the money to buy.
7. Things will get a lot worse before they get better.
8. Prosperity is not around the corner.

Second Round of Massive Deleveraging About to Hit U.S. Banking System?

Every reference to mortgages resetting allude to them being reset at higher rates which is definitely not the case for those mortgages tied to LIBOR or the "weekly average yield on U.S. Treasury securities adjusted to a constantmaturity of one year". With both of these rates at a near all time low, the home owners are seeing drastic reductions in their currently resetting ARM monthly payments.
Why is there so little mention of this considerable reduction in monthly ARM rates which produce euphoric results for the effected home owners?

Why Some Homeowners Are Cheering the LIBOR

Borrowers who have their 5/1 ARM interest rate tied to the weekly average yield on U.S. Treasury securities adjusted to a constant maturity of one year, are experiencing the same degree of euphoria as your reader reported. My 5/1 is adjusting from 5.25% to 3.25% on August 1, 2009. The considerable reduction in my monthly payment will help meet other monthly and unexpected living costs payable during the coming year. Hopefully the inevitable rise of our future adjustable rates will be slow in coming.

But Cramer Said Housing Would Improve!

You can keep waiting until the home prices and mortgage interest rates go lower but we just bought a new 3000sf, 5 bedroom, 3.5 bath home from one of the big builders in the north Texas area for $76/sf with a 20% down pmt, 30 year fxd at 4.375% with 1 point. Being a recent job transfer to the area didn't allow waiting; we needed a home right away. Houses are now affordable if you have good credit and a job. The problem for too many people is bad credit and no job. This situation has to change before we can stem the tide of home price declines and the increase of new home construction. Unfortunately, this is not foreseeable for quite awhile. IT'S THAT SIMPLE!!! DUHH!

The Housing Bubble Isn't Funny Anymore

The Congresswoman very definitely appears to be telling the bad-debters to disregard the time limit on vacating and to remain in the foreclosed home as long as they like. The Congresswoman should choose her words more carefully.

Wall Street Breakfast: Must-Know News

I'd like to report to this Blog Sitemeister that his contributors must swear off illegal drug use before submitting their comments.

Horrid Data: Housing, Jobs, Durable Goods

To Moonbat1775,
I appreciate and share your dislike for fractional reserve banking, a major cause of our present world financial crisis. And I thank you for your pointing out that fractional reserve bankers may be of any ethnic origin; just as all gangsters aren't Italian.

My ire was raised by Sojourner's venting his anti-Semitic bias in his irrational explanation of the persons responsible for this crisis.

Horrid Data: Housing, Jobs, Durable Goods

To Sojourner; You need to take a deep breath, 2 aspirins, and take a look at your comment again. Do you really think your kids would be happy with their Daddy's explanation of the world's economic problems?

Making Sense of the Brokerage Bust

Reply to Farmer: Yes. Since there will eventually be only one bank (The US Treasury), there will be only one currency. The currency will be in denominations of IOUs. They will be redeemed at US Teasury ATMs for IOUs of another color.

Current Market Turmoil: You Can’t Explain 'Stupid'

To "notsosmart": You are very smart!

Brookings Panel on Economic Activity Conference: Housing Market and Fed Activity

I suggest you immediately enroll in an English Composition and Grammar course which will do wonders for your ability to express your ideas in a way that is understandable to your readers.

Pimco's Bill Gross: Jim Cramer Is 'Courageous' and 'Entertaining'

Let's face it, nobody knows what the market will do in the next 10 minutes, much less the next 10 days. Did anyone predict the dramatic downturn in equities for Thursday & Friday of this week?

I like the experts who predict that things will change "in the next quarter", "by the end of the year", or "sometime next year". I have never found them to be wrong. Sure enough, things did change.

Anyway, it's a fun game and I enjoy it since I am fortunate enough to be retired since 1994, have a company pension, receive my Social Security check each month, was lucky enough to have bought rental properties in Las Vegas, Cape Cod, and Albuquerque in the early 2000's when prices and interest rates were low, and got out of the market at the end of 1999 after a very profitable 6 year span when all boats enjoyed a rising tide. A maximum investment in Gov't I Bonds in 2000 & 2001 was another lucky move.

Notice my use of the words "fortunate" and "lucky" when referring to investments; the same words that contribute to one's wealth when in Las Vegas or Macau. No one knows the future track of their investments; least of all, the lamenting majority of 401(k) contributors who watch their shrinking monthly or quarterly statements and have about as much investment savvy as the deer in your headlights.

Uncertainty and the Economy: Some Comments

In response to User 118015: For the vast majority of those people who historically have put a portion of their retirement savings in equities, your sage advice to transfer funds out of the market until a genuine [upward]trend develops is well taken, although this action should have been taken long before now. Unfortunately, too many of the 401(k) contributors still have little investment knowledge and catatonically sit at their kitchen tables, open their monthly or quarterly statements, and inactively lament as their hard earned savings wan into oblivion.

Prime Foreclosures Now Greater Than Subprime

We can look at the percentages and/or the total numbers; neither one brightens the actual picture. The large majority of lenders will survive and a large majority of default borrowers will not. You can put lipstick, earrings, and a low cut blouse on this pig, and it's still a pig.