economy: Phoenix Real Estate Blog: Good News, Bad News in the Mortgage Market - 08/07/08 11:53 PM
So do you want the good news first or the bad news first?
Well, the good news is that the rate of default on subprime mortgages across the nation is starting to slow. According to a New York Times article, “The problems with mortgages made to people with weak, or subprime, … (1 comments)
economy: Phoenix Real Estate Blog: The Ripples Continue - 07/03/08 11:25 AM
I like to mention it when Arizona gets some “Best of. . .” award. And there have been lots (see my blog post, From Best Cities for Jobs to North American City of the Future — Greater Phoenix Is It). Yet the other day we were ranked #1 on a … (0 comments)
economy: 10 ways to save at the pump - 07/01/08 04:51 PM
Gas prices have risen $1.07 since last summer – representing an increase of more than 30%. Economists argue about what’s really behind skyrocketing gas prices, but most agree that factors include oil speculation, rising worldwide demand for oil, and the weak value of the U.S. dollar.
None of those … (2 comments)
economy: Phoenix Real Estate Blog: The Pain at the Pump is Spreading - 07/01/08 04:50 PM
I subscribe to Google news. Call me crazy, but I like to stay informed. I have Google e-mail me all of the stories about real estate each day.
In the last several days, I’ve seen three that echo a theme I think we’re going to start hearing a lot more … (0 comments)
economy: The only thing we have to fear is fear itself - 03/05/08 11:16 PM
75 years ago yesterday, on March 4, 1933, President Franklin Delano Roosevelt gave his first inaugural address. The country was in desperate economic shape – the throes of the Great Depression – and FDR had been elected in a landslide to do something to pick the country back up. … (0 comments)
As economists like to do, they’re prophesizing on whether the economy will go into a recession. Some say yes, others say no. Some say there’s a 40% chance; others say the odds are 60/40. But the fact is that even the brightest economist, with the best data, … (1 comments)
economy: Bank of America's next bargain buy? Countrywide. - 01/18/08 12:13 AM
January 11, 2008 Earlier this week, we began to hear the rumblings of bankruptcy for the nation’s largest mortgage lender, Countrywide. The firm denied that it may be heading that direction. But the yesterday news surfaced that Bank of America is thinking seriously about snapping up the mortgage lender. It … (1 comments)
economy: Mortgage Forgiveness Act offers more relief for some families - 12/27/07 10:08 AM
December 21, 2007 Last month, I wrote a post, called “Maybe the IRS isn’t so bad after all? Oh wait, never mind” about the IRS rules on taxation of cancelled debt as income. Basically, the rules say that with a few exceptions, if a homeowner’s lender agrees to a short … (0 comments)
economy: Why the dip in housing starts and permits is actually a good thing - 12/22/07 01:26 AM
December 19, 2007 When I heard on the news yesterday that housing construction starts had fallen in November – down 3.7% across the U.S. from October and off 24% from November of last year – I was happy. That’s right. The dip in housing construction starts and permits is actually … (3 comments)
economy: Subprime rate freeze: who will it help? - 12/20/07 01:04 AM
December 14, 2007 Last week, the Bush Administration, mortgage lenders, and investors together agreed on a plan to freeze certain subprime rates for 5 years. The negotiations, between Treasury Secretary Henry Paulson, and mortgage industry executives, came in the face of 2 million looming mortgage adjustments. The plan, proponents say, … (0 comments)
economy: Citing slowing economic growth, the Fed cuts rates again - 12/14/07 01:11 AM
December 12, 2007 Yesterday the Federal Reserve decided again to lower the federal funds target rate by another 0.25% -- to 4.25%. From the Fed’s press release: “Incoming information suggests that economic growth is slowing, reflecting the intensification of the housing correction and some softening in business and consumer spending. … (1 comments)
economy: Experts at the Economic Forecast Luncheon Say: Cloud of Uncertainty Hangs Over the Economy - 12/07/07 01:28 AM
December 5, 2007 As part of my series of posts on the Phoenix housing market and the Arizona economy in general, today I’m writing from the 44th Annual Economic Forecast Luncheon. Experts at the 44th Annual Chase/W. P. Carey Economic Forecast Luncheon (including S&P’s Chief Economist, JP Morgan Chase’s Senior … (1 comments)
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