gina2359093

Pending home sales rose for the third consecutive month, jumping 6.7% in April M/M and rising 3.2% Y/Y. NAR says buyers are responding to very favorable market conditions, and expects "greater activity in the months ahead."

How many of these are foreclosures? That would be the really interesting number.

Housing: 'We're About to Have a Big Problem'

Prices in California fell for six years during the last major housing slump in the 1990s, and didn’t return to their 1991 peak until 2006, according to the Federal Housing Finance Agency.


On May 26 09:13 AM Tim Plaehn wrote:

> As most of the country and especially commenters on this site are
> married to the paradigm that home prices will continue to fall. What
> if prices start to increase? How will the mindset of buyers, homeowners,
> construction companies change? Will someone with good credit walk
> away from his home if he starts to see the value increasing? Will
> homebuilders start to add jobs if they can sell more homes? Will
> real estate and economic "experts" be proven wrong once again? With
> Uncle Sam and the state of California giving buyers up to $18,000
> to buy a home will sellers start to realize they can hold out for
> more money?
> Think about how things would change if prices started to increase.
> I have already seen bumps in median prices in diverse locations such
> as San Diego, Sacramento and on this site today, Northern Virginia.

On 'Rock Bottom' Housing Prices

Love your blog... but would be great when you put up charts to say what it is. Can't understand what is on the the axis. A sentence would help.
Thanks,
Gina

Mean Street's Evan Newmark confesses he sold half of his position in the leveraged financial sector ETF (UYG) after Wells Fargo's (WFC) unbelievable earnings. Why half? Newmark wants to believe that just this once, a bank is really telling the truth. But over the past year-and-a-half, bulls have done best by trusting no one and believing in nothing.

Agreed. But when is the evidence for this going to be revealed?


On Apr 13 08:11 PM The Geoffster wrote:

> I don't have any charts to share, but I have been paying attention
> and I think we are witnessing the biggest con game in history. The
> big banks are insolvent. AIG was used as a conduit to keep them in
> business and prevent a financial meltdown. Anyone who thinks we have
> survived the crisis is nuts.

Sucker's Rally Approaching an End

Yes, the fundamentals suck.

But the fundamentals also sucked last summer when the stimulus checks created a "false rally."

This time all of the money the Fed is pumping into banks and infrastructure and pay checks is starting to be felt. So this rally will continue as long as the stimulus is feeding the country.

Then, fundamentals will take over and pop... down, down, down. At least that is my two cents.

Thursday's Credit Market Summary: Spreads Tighten

Where can I get basic information on what it means where credit spreads tighten or loosen? Thanks.

Who's Gaining from the AIG Unwinds?

not if they received more money than the market price ...which is the point of the story.


On Mar 30 08:18 AM Xsander wrote:

> Any profits banks made from the unwinding of derivatives with AIG
> would have already been in their p/l as these positions are all marked
> to market daily. If they were in the money they now hold cash as
> a result of the unwind whereas before they were holding collateral
> against the positive mark to market.

Housing: Most of the Decline Is Over

Your argument doesn't make a lot of sense given that Catrina was bidding on a house that had declined 62% in one year!! Of course there are going to be lots of bidders.

Trading Lennar Like an Ultra ETF

LEN should be shorted...