Monthly Archives: March 2007

Let the finger pointing begin!

Posted on March 21, 2007 by grim

From Bloomberg: Government Is `Here to Help’ Subprime Borrowers By Caroline Baum Congress is making noises about doing something to help homeowners who can’t meet their mortgage payments hold on to their slice of the American Dream. … As a … Continue reading →

Posted in National Real Estate, Risky Lending | 143 Comments

NJ – January economic activity indexes

Posted on March 21, 2007 by grim

The Philly Fed released the economic activity indexes for New Jersey yesterday. That data can be found here: NEW JERSEY LEADING ECONOMIC INDEX The leading index for New Jersey, constructed by the Federal Reserve Bank of Philadelphia, was 2.4 in … Continue reading →

Posted in Economics | 11 Comments

Is it different in Manhattan?

Posted on March 21, 2007 by grim

From the NY Observer: Foreclosure Doomsday? Not in Manhattan By Tom Acitelli If you’ve been reading the real-estate pages in the newspapers lately, you could be forgiven for drawing the conclusion that a national wave of foreclosures looms as the … Continue reading →

Posted in Risky Lending | 4 Comments

Liar liar

Posted on March 20, 2007 by grim

From CNN/Money: ‘Liar loans’: Mortgage woes beyond subprime By Chris Isidore Subprime mortgages have been generating a lot of attention, and worry, among investors, economists and regulators, but those loans may be only part of the threat posed to the … Continue reading →

Posted in Risky Lending | Comments Off on Liar liar

High cost of borrowing (cont)

Posted on March 20, 2007 by grim

Three more pieces from the APP series examining lending in NJ: Subprime loans not “easy money” BY JASON METHOD Mortgage lenders have flexibility in competing BY JASON METHOD Federal data indicate minorities at risk for higher interest BY JASON METHOD

Posted in Risky Lending | Comments Off on High cost of borrowing (cont)

NAHB Builder Confidence falls in March

Posted on March 19, 2007 by grim

From the National Association of Homebuilders: Builder Confidence Slips In March Builder confidence in the market for new single-family homes receded in March, largely on concerns about deepening problems in the subprime mortgage arena, according to the National Association of … Continue reading →

Posted in Housing Bubble, New Development | 65 Comments

Examining the high cost of borrowing

Posted on March 19, 2007 by grim

The Asbury Park Press (APP) is running a three-part series looking into the refi boom. The first part of the series can be found here: Home Roulette: Gambling with your house BY JASON METHOD Some interesting findings: New Jersey homeowners, … Continue reading →

Posted in Risky Lending | 77 Comments

Vultures swoop in

Posted on March 19, 2007 by grim

From the Asbury Park Press: Investors swoop in when owners default BY JASON METHOD (Snipped, will be updated in a few)

Posted in Risky Lending | 3 Comments

“[A] taxpayer subsidy? No way.”

Posted on March 18, 2007 by grim

From the Washington Post: Help for Homeowners, Not a Bailout for Mortgage Pushers By Steven Pearlstein It was predictable that once the outlines of the coming mortgage crisis came into view, housing activists would propose some sort of federal bailout. … Continue reading →

Posted in Risky Lending | 407 Comments

Is the correction over?

Posted on March 18, 2007 by grim

From the Asbury Park Press: Real estate market shows early signs of a recovery BY DAVID P. WILLIS (snipped, will be updated in a few)

Posted in New Jersey Real Estate | 15 Comments

It’s going to be a doozy

Posted on March 18, 2007 by grim

From the New York Post: HOLD ON TIGHT – THE JUNK-LOAN FALLOUT’S JUST BEGINNING CONFUSED about what the subprime mortgage meltdown means for the economy and your money? Well first, let’s call a spade a spade. These risky mortgages aren’t … Continue reading →

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Homeownership for everyone?

Posted on March 17, 2007 by grim

From the NY Times: Rising Trouble With Mortgages Clouds Dream of Owning Home Perhaps the American dream of homeownership is not for everyone. That may sound at odds with a bedrock notion of society promoted by presidents for decades. But … Continue reading →

Posted in Housing Bubble, Risky Lending | 7 Comments

CT foreclosures surge

Posted on March 17, 2007 by grim

From the NY Times: A Surge in Foreclosure Filings AFTER 20 years as a lawyer, David Volman has handled enough divorces to know that many marriages collapse under financial strain. So when his practice, in Shelton, began receiving an unusually … Continue reading →

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NJ pension liability vastly underestimated

Posted on March 16, 2007 by grim

From the NY Times: Big Deficit Seen in New Jersey Pension Fund A prominent member of the council that oversees investments by New Jersey’s pension funds said yesterday that the state has been vastly underestimating how much money it should … Continue reading →

Posted in Economics | 2 Comments

“The economy is in a holding pattern”

Posted on March 16, 2007 by grim

From the Courier Post: Regional manufacturing index near zero Manufacturing in the region is lukewarm this month as companies wait for inventories of unsold goods to melt away, according to a key survey released Thursday. The index for general activity … Continue reading →

Posted in Economics | 1 Comment