In case you missed it, Seeking Alpha posted a recent article I authored: http://seekingalpha.com/article/119580-can-we-expect-a-springtime-bounce-in-housing-prices I usually re-post the articles here, but this one was a bit lengthy with lots of graphs, so in the interest of time, I’m simply linking to the article from here. Enjoy!
February 10, 2009
And switching over Timothy Geithner’s speech this afternoon… He stated that the program proposed is to (paraphrasing) “insure that lending would be greater than without government intervention.” Read: We’re putting money in the market so that we can spur lending and open the credit markets. That’s what I thought they were trying to do.
February 10, 2009
Watching Mr. Bernanke’s testimony to the House of Representatives Budget Committee. He just said something very poignant (paraphrasing): In1930s in US and more recently in Japan, the destabilization of the banking sector made it very difficult for entrepreneurs to get credit and very difficult to grow their business. What I see in this statement is… [Read more…]
January 28, 2009
Back in April, I outlined Yahoo’s “goodwill” account to highlight how they were overpaying for acquisitions – other technology companies developing products that should have been developed in-house at Yahoo!. Today, I say this link on Twitter which provides a list of companies whose “Goodwill” accounts exceed their current market capitalization. Most of the companies… [Read more…]
January 18, 2009
This week, the Mortgage Banker’s Association released the “good news” of mortgage rates falling and loan applications rising. But is it really? The Mortgage Industry From the mortgage industry, there’s applause when mortgage rates fall and loan applications rise. Considered healthy, innovative, and robust in 2003, the longer terms effects of this outlook are now… [Read more…]
December 22, 2008
(Author’s Note: This article was also published on Seeking Alpha on December 25.) With the continual prodding by many to initiate 4.5% mortgage rates to pacify the current housing market glut, it’s important to distinguish the effects based on two categories of buyers: 1. Existing mortgage refinancing2. Home Purchase Mortgages Fundamentally, the problem with this… [Read more…]
December 19, 2008
Came across this article on Portfolio.com – “Against Lower Mortgage Rates.” The author, Felix Salmon, presents some good analysis, digging into Hubbard & Mayer’s oped piece in the Wall Street Journal this week and using some of their own research to build a case against the proposed 4.5% mortgage rate.
December 18, 2008
Earlier this week, I suggested lower price levels would spur housing demand far more than lower mortgage rates. Using John Taylor’s position that the Federal Funds Target rate was below the levels recommended by the Taylor Rule, it would appear that cheaper money led to the current housing glut but my conjecture is that cheaper… [Read more…]
December 14, 2008
(Author’s note: This article was published on Seeking Alpha on December 26.) I received a link to this article on Twitter from Paul Kedrosky, author of Infectious Greed, on John Taylor’s criticism of the Federal Reserve’s recent monetary policy. I was drawn to the post because of the chatter that I hear from residential mortgage… [Read more…]
November 20, 2008
Just in case you missed it, here’s an interesting piece from Michael Lewis, author of Liar’s Poker (a book about Wall Street back in the 1980′s that you should read if you haven’t). His new article – “The End of Wall Street’s Boom”- is a new perspective on the current financial market situation. It’s about… [Read more…]
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February 12, 2009
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