Ten Facts about the Real Estate market you need to know

10-28-2007 • iTulip

I predict at least a 50% increase in foreclosures, and likely a doubling in properties sold at auction with a peak no earlier than Q3' 2008. Sean O'Toole of ForeclosureRadar

Confessions of an Economic Hit Man - Part I

10-27-2007 • Youtube

Interview with Jon Perkins, author of Confessions of a Economic Hitman. How our economy and foreign policy is really run. Pt. 2:

Billions in housing wealth at risk as foreclosures soar

10-26-2007 • San Francisco Chronicle

"Things are getting exponentially worse," said Haveman, a principal at Beacon Economics in San Rafael. Home prices "have only now started to drop. They have a ways to go."

Snow: "Let's accelerate the price discovery process on this paper"

10-26-2007 • Reuters

"We know that when you prop things up artificially -- Japan -- we know when you prop things up artificially -- the (savings and loans) in the United States -- you get bigger adverse consequences,"

How Bad Will the Next Recession Be?

10-26-2007 • Alternet

Peter Schiff "Rate cuts will only bring about higher long-term interest rates, higher consumer prices, more defaults and bankruptcy. The Fed has reached the end of its rope"

Oil rallies above $92

10-26-2007 • Reuters

Oil rallied to a fresh record high above $92 a barrel on Friday as the dollar tumbled to a record low,

Scary ARM Chart, 2007-2016

10-25-2007 • .

Just in time for Halloween, the International Monetary Fund recently published a report with a chart showing ARM resets coming up -- a reset occurs when the low introductory payment period ends on a adjustable mortgage.

U.S. "undoubtedly in recession": Jim Rogers

10-25-2007 • Reuters

"Many parts of industry are actually in a state worse than recession. If it were not for (Federal Reserve Chairman Ben) Bernanke putting huge amounts of money into the market, the stock market would probably be down much more than it is."

Downshift In Consumer Spending Mindset

10-25-2007 • MISH: Global Economic Analysis

One by one, and store by store, consumers are throwing in the towel. This does not bode well for retail store expansion, holiday sales, or hiring plans. It also does not bode well for an economy 100% dependent on an ever increasing expansion of credi

New Home Sales and Recessions: This Graph Says it All

10-25-2007 • .

This graph shows New Home Sales vs. Recessions for the last 35 years. New Home sales were falling prior to every recession, with the exception of the business investment led recession of 2001.

Gambler Mae: Entity to bail out investors who apparently risk nothing

10-25-2007 • MSNBC

Call it Super SIV Mae. Wall Street's pals in the Treasury Department want to ride to the rescue with a new entity of entitlement, the 'structured investment vehicle.' [It is only your tax money, and the nation's debt.]

Home sales plunge by 8 percent

10-24-2007 • AP

Sales of existing homes had a record decline in September while median home prices fell by the largest amount in nearly a year, reflecting deepening problems in the troubled housing market. The current downturn is already more severe than the housing

Billion dollars damage as California fires rage into fourth day

10-24-2007 • AFP

Fires raged across California for a fourth day as officials said property worth 1 billion dollars had been lost and President George W. Bush declared the region a major disaster zone. 1,700 buildings have been reduced to charred rubble

Housing - The Worst Is Yet To Come

10-24-2007 • MISH: Global Economic Analysis

Credit Suisse is suggesting the worst is now. The NAR says the worst was back in August. Both are putting lipstick on a pig. Alt-A problems which are just as big as subprime do not peak until 2011. There is a nasty consumer led recession to deal with

Mortgage Resets: The Real Meaning of Two Waves

10-24-2007 • housingwire.com

Regular HW readers likely know that I’ve referenced two looming waves of resets as it relates to the mortgage market, although I haven’t gone into a ton of detail covering what this means just yet. I will now. To start, a picture is worth a thousand

Trading Paper Lanterns

10-23-2007 • Bloomberg

Jim Rogers is selling dollars and buying yuan. "It's gotta triple. It's gotta quadruple." Of course, the end of the article describes where he's really bullish: commodities.

Sentiment Sours, Companies More Cautious

10-23-2007 • MISH: Globa Economic Analysis

Wal-Mart has cut back on planned stores twice. Target is reporting slower sales. However, fear of losing market share still has stores expanding too fast. This is the retail sector version of Economic Mad. Chicago based homebuilder Neumann files chap

When the Grand Supercycle bear market begins, it will be a technical consideration overriding all others. Then, periods of peace will be temporary. What people initially think are short wars will prove to be just battles in a long period of conflict.

IMF chief warns dollar may suffer 'abrupt fall'

10-22-2007 • AFP

The head of the International Monetary Fund warned of a potential "abrupt fall" in the US dollar that could roil the global economy. "There are risks that an abrupt fall in the dollar could either be triggered by, or itself trigger, a

Benjamin Franklin, the real cause of the Revolutionary War: Central Banking

10-22-2007 • http://21stcenturycicero.wordpress.com

“The Colonies would gladly have borne the little tax on tea and other matters had it not been the poverty caused by the bad influence of the English bankers on the Parliament, which has caused in the Colonies hatred of England and the Revolutionary W

US dollar touches a new euro low

10-22-2007 • BBC

The US dollar tumbled to a new euro low in Asian trade as concerns over the state of the US economy deepened.

Destined To Fail

10-21-2007 • MISH: Global Economic Analysis

The SIV bailout plan is destined to fail. Fraudulent buying of asset backed commercial paper at inflated prices to hide losses won't do a thing for the average Joe struggling to make house payments. Nor will it help those laid off, nor will it he

Q&A With Mike Morgan About Homebuilder Bankruptcies

10-21-2007 • MISH: Global Economic Analysis

Levitt has halted construction on all housing projects. "What happens if a builder goes bankrupt before the buyer closes?" The answer is it depends. Did the contract stipulate the down payment go into escrow or to a general fund? Mechanics

ABX Indices defined - Another round of Housing defaults about to hit?

10-20-2007 • one-salient-oversight.blogspot.com

ABX indices measure Derivatives, a form of financial tool that reduces risk for one party while offering high returns for another. It's a form of insurance as well, though it is dependent upon the whims of the market rather than anything scientif

ABX Indicies: The Plunge Continues

10-20-2007 • calculatedrisk.blogspot.com

The stunning plunge continued. I'll keep posting the charts until the ABX stabilizes (or reaches zero).

Marked to Fantasy

10-19-2007 • MISH: Global Economic Analysis

Significant attention is now being paid to SIVs, especially at Citigroup. However, there are also level 2 and level 3 assets that are not marked to market. On top of that is a huge $300-$500 trillion derivatives mess. Everything combined, no one real

Enron Accounting at Citigroup

10-19-2007 • MISH: Global Economic Analysis

After Enron collapsed, rules were put in place to prevent assets from being held off the books. Exclusions were made that allowed banks to violate the spirit of the law. With SIVs blowing up, attempts are now being made to hide the amounts at risk. T

Marked to Fantasy

10-18-2007 • MISH: Global Economic Analysis

Significant attention is now being paid to SIVs, especially at Citigroup. However, there are also level 2 and level 3 assets that are not marked to market. On top of that is a huge $300-$500 trillion derivatives mess. Everything combined, no one real

Crude Oil Reaches Record $90 After Dollar Drops Against Euro

10-18-2007 • Bloomberg

Crude oil rose to a record $90 a barrel in New York after the U.S. dollar fell against the euro, enhancing the appeal of commodities as an investment. Investors purchased oil on speculation the Federal Reserve will cut borrowing costs to bolster