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cnbc: CNBC's Diana Olick on "Cure Rates" - 08/25/09 11:22 PM
On Monday CNBC's Diana Olick wrote a post about mortgage cure rates. For those of you who haven't read her stuff before, I recommend it. She is one of a very small minority of housing analysts who understand the comprehensiveness of the housing market.
A cure rate is a term used to represent the percentage of delinquent loans that are returned to "current" status each month.
In other words, for every 100 loans that are delinquent, how many of the owners will get caught up with the payment they have missed.
According to Fitch Ratings, Olick writes that from 2000-2006, 45% of loan delinquencies were … (4 comments)
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cnbc: Study: Distressed Commercial Real Estate Doubles - 07/09/09 04:35 PM
According to a bloomberg article written by David M. Levitt based on a study by Real Capital Analytics Inc., $108 billion worth of commercial real estate is now in default, bankruptcy, or foreclosure.
The report cites that at the end of June there were over 5,300 properties in distress. This is more than twice the number identified at the end of 2008. According to a report put out by the AP, banks held approximately $1.8 trillion in commercial real estate loans. Jon D. Greenlee, the Federal Reserve's associate director for banking supervision and regulation, said that 7 percent of those loans … (3 comments)
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cnbc: Warren Buffett: The Economy Is In "Shambles" - 06/25/09 07:05 PM
Apparently Warren Buffett didn't get the memo from Ben Bernanke, Jim Cramer, or Larry Kudlow about the "green shoots" in the economy.
"I wasn't seeing anything. I had a cataract operation on my left eye about a month ago and I thought maybe now I'll be able to see green shoots. We're not seeing them."
During a recent interview with CNBC's Becky Quick, Buffett said, "Well, it's been pretty flat. I get figures on 70-odd businesses, a lot of them daily. Everything that I see about the economy is that we've had no bounce."
His near term prediction for the economy is not … (14 comments)
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cnbc: CNBC's Diana Olick vs. Jim Cramer - 06/23/09 08:27 AM
There are housing analysts, and then there is Jim Cramer.
For those of you who don't know, in August of 2008, CNBC's Jim Cramer predicted that the housing market would bottom in June of 2009. Well, here we are in June of 2009, and rather than Cramer swallow his pride and admit that he was wrong, Cramer confirmed his prediction and made a shameful housing bottom call despite the fact that the preponderance of evidence points to continued home value declines.
Diana Olick is CNBC's housing analyst who continues to see weakness and risk in the housing market based on, well, the preponderance of evidence.
So … (13 comments)
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cnbc: CNBC's Diana Olick Confirms Pending Home Sales Inaccuracy - 06/04/09 07:48 AM
A month ago I wrote a post about how the NAR's pending home sales index was becoming less and less of a leading indicator of existing home sales and more and more of an anecdotal data set (at best).
With the NAR's most recent release of the April pending home sales index showing a 6.7% month over month increase, it begs the question, does it even matter?
And now, CNBC's Diana Olick is asking the same question.
Here is what I have found in terms of the relationship between the pending home sales index and the following month's existing home sales.
October 2008 Pending Index … (2 comments)
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cnbc: Meredith Whitney Calling "BS" On The Banks - 05/11/09 06:01 PM
Banking analyst Meredith Whitneyduring a CNBC interview continues to call "bs" on the banking system, "The government enabled the banks to have better than expected first quarter earnings."
While not directly naming names, one can only think that Whitney is referring to the earnings reports of Bank of America and Wells Fargo both of whom were beneficiaries of Wall St.'s quiet bailout.
Not surprisingly, Whitney goes on to say, "The underlying core earnings power of these banks is negligible." In other words, it is unsustainable. And yet here Wall St. is rallying proving once again that the stock market is no longer an … (6 comments)
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cnbc: CNBC's David Faber on Bank of America "Earnings" - 04/20/09 09:30 AM
It's not often that you get some quality and un-biased financial reporting on CNBC, but David Faber is usually one of the few analysts that you can count on to sift through the muck and spin to reveal the truth. His report on Bank of America today was no exception.
The real story behind Bank of America reporting net income of $4.25 billion is that $1.9 billion came from the sale of China Construction Bank shares and another $2.2 billion was derived from widening credit spreads. When you remove this "revenue", it leaves Bank of America with approximately a $150 million dollar … (2 comments)
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cnbc: What does a bond market strategist know about real estate? - 12/23/08 02:42 PM
Tony Crescenzi, a bond market strategist, wrote a guest blog on CNBC.com today about a "plunge" in new home inventory and what it means for the real estate market.
He talks about how there are only 372,000 new homes for sale, which is a reduction from last year and last month. Tony also acknowledges that the bigger problem is the glut of inventory of existing homes for sale (4.203 million), which I tend to agree with. New homes only comprise about 9% of the aggregate (new and existing homes for sale) real estate market.
However, he goes on to say that because home builders … (7 comments)
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Mark MacKenzie
Phoenix,
AZ
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Mark MacKenzie Real Estate Planning
Office Phone: (480) 600-0330
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