Oct 11 2010

Will the U.S. face a generation of underperforming housing values? It happened from 1915 to 1945 and the current trend is not looking favorable. Current U.S. housing values over priced by 30 percent.

It is hard to imagine a time in U.S. history when housing was actually perceived as cheap for an entire generation.  Yet this is the exact experience that occurred from 1915 to 1945.  Home values were cheap in relative inflation adjusted terms.  Even after 1945, homes were still affordable and this is where the seeds […]

Oct 9 2010

Bank of America has $2.3 trillion in assets but $956 billion of that is made up in loans. Think those loans are valued at current market levels? The FDIC would have a challenge even breaking up one too big to fail bank.

The FDIC has a herculean challenge in confronting the too big to fail banks.  There is little doubt that having institutions that are too big is part of the reason for the current systemic crisis.  Yet through the last few years the solution has been to make these banks even bigger allowing their web to […]

Oct 2 2010

The housing documents mess – Why banks are carelessly rushing foreclosures in Florida and not in California. Mortgage foreclosure deficiency judgments.

In the last few weeks the issue has come to the table that in some states, in particular Florida, banks are rushing through the foreclosure process so quickly that they have mismanaged the paperwork process.  Apparently the same forged paperwork that got people with very little income into highly leveraged properties is now working in […]

Aug 21 2010

Sin City and Nevada suffer brunt of recession – 25 percent underemployment rate for Nevada reflecting depression like stats. Foreclosure data on home that was picked up for $120,000 but had a second mortgage of $1.2 million.

The great recession has touched every state across the United States with a reverse Midas touch.  Every average American has felt this recession to one degree or another.  Yet few states have felt the economic implosion like Nevada.  Here we have a state that highlights the heavy reliance on the housing bubble, conspicuous consumer spending, […]

Jun 24 2010

Current state of the American housing market. What foreclosures and distressed borrowers tell us in hidden data. 2010 on path to having 4 million foreclosure filings. HAMP call center data at record levels while loan modifications dwindle.

Trying to get honest data from the banking industry regarding the current state of housing is a monumental task.  We are left using multiple data sources to get an accurate picture of the current state of the American housing market.  Even then, we are left trying to piece together data that is largely incomplete.  For […]

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