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diana olick: 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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diana olick: 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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diana olick: 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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diana olick: 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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diana olick: Job Losses And A Housing Recovery - 04/23/09 08:16 AM
Once again CNBC's Diana Olick hits the nail on the head with another insightful blog post about what is really going on with the housing market.
With all of the talk about a housing recovery, the one thing a lot of talking heads have taken their eye off of is the job market and how that is going to complicate a housing recovery.
According to the FHFA, "Prime loan delinquencies increased by 70 percent" from the previous three month period.
In other words, the number of good loans that are going into default are surging as a result of the economy, … (7 comments)
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diana olick: Obama's Housing Plan Unveiled - 03/04/09 06:59 PM
The free markets are an interesting thing, they actually work. Sometimes they need a little poking or prodding from the government, other times common sense prevails. But more often than not, the free market will usually find a solution to a problem and it is going to be a solution that rewards hard work, sweat, innovation, and investment; principles that America was built on. Unfortunately, it doesn't appear that the free markets are going to be allowed to work anytime soon.
The Obama administration unveiled today their new $275 billion housing "rescue" plan which represents yet another massive government intervention into our economy and markets.
… (7 comments)
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diana olick: CNBC's Diana Olick on Real Estate Investors - 02/19/09 12:40 PM
I have written before about the difference between real estate investors and speculators. But every now and then it is nice to have your opinion vindicated by somebody else. In this case it is CNBC's Diana Olick when she made a recent blog post about real estate investors. The title was, "Not all real estate investors are irresponsible". It was written in response to President Obama's speech yesterday when he said about his housing program, "It will not help speculators who took risky bets on a rising market and bought homes not to live in but to sell."
First of all, to set … (4 comments)
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diana olick: CNBC's Diana Olick confirms "shadow inventory" - 01/30/09 10:06 PM
A couple of weeks ago I wrote a blog post about three reasons why the real estate market is actually worse than most people, including the NAR, think.
A week after that post, CNN's Les Christie wrote an article supporting the unfortunate reality of this "shadow inventory".
And then today, CNBC's Diana Olick made a blog post about "Banks sitting on an inventory time bomb".
The common denominator between all of these articles and blog posts is that RealtyTrac, which is a company that has the pulse of the foreclosure market better than anybody else, is claiming that 70% of the … (5 comments)
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diana olick: What do corporate tax cuts have to do with buying a house? - 12/10/08 07:03 PM
"How is that going to get anybody to buy a house?"
That's the question CNBC's Diana Olick asked Larry Kudlow on CNBC on Monday in response to Kudlow's economic proposal to provide a corporate tax holiday followed by additional corporate tax cuts.
The fear I have is that the deeper and more exacerbated this economic crisis becomes, the more people are going to forget how we got here and what we need to do in order to get us out of this crisis.
What started out as a mild sub prime foreclosure epidemic in 2007 has snowballed and evolved into a Wall St. … (6 comments)
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Mark MacKenzie
Phoenix,
AZ
More about me…
Mark MacKenzie Real Estate Planning
Office Phone: (480) 600-0330
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