The Blog of Author Mark MacKenzie: It's The Housing Market, Stupid!

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Real Estate Broker/Owner

ARCHIVED BLOG POSTS

2008 

After Congress had kissed (there is another word I should use here) away $150 billion on stimulus checks, $700 billion on Wall St., $115 billion and counting on AIG, and passed an impotent Housing and Economic Recovery Bill in July - now they are talking about yet ANOTHER stimuls plan? They simpl...
10/31/2008
An article by Les Christie on CNNMoney.com reveals that approximately 7.5 million homeowners are in a negative equity position according to a report by First American CoreLogic. And this report is actually optimistic. The article goes on to say that Moody's.com estimates the number is actually cl...
10/31/2008
Not since 2001 has the GDP contracted by this much in one quarter, so now what? The truth is, one negative quarter by itself is not such a big deal.  We had a contraction in GDP as recently as the 4th quarter of 2007. What does matter is if the trend continues and how deep it goes.  This is the r...
10/30/2008
As expected, the Fed slashed the Federal Funds rate 50 basis points to 1% today - the lowest rate in four years. At face value this may seem like great news for the credit markets and potentially for mortgage rates, but my skepticism is that Bernanke is exhausting all of his options on what could...
10/29/2008
According to a CNBC.com article by Kenneth Stier yesterday, foreclosures were up 71% in the 3rd quarter. This is more than 8,500 homes a day that are going into foreclosure throughout the country, according to RealtyTrac data. There are several reasons why this is happeneing and why what the gove...
10/29/2008
Finally after spending the last two weeks locked in my office, I have finished my newest book, "It's The Housing Market, Stupid!", and have sent it off to the printer. After a year of watching Congress stand by and do nothing while this titanic financial storm has been bearing down on our banking...
10/28/2008
If you are familiar with teleseminars and online marketing you probably know who Alex Mandossian is. In the event you don't know who Alex Mandossian is, he is the guy that has interviewed several New York Times and other best selling authors including Donald Trump, Stephen Covey, Stephen M.R. Cov...
10/27/2008
The commerce department published the new home sales data today, and it was strikingly similar to that of exisiting home sales report that came out last week. New home sales are up. The inventory of new homes for sale is down. The month's supply of new home sales is down. Good news on all fronts....
10/27/2008
Perhaps one of the most anticipated GDP numbers in recent memeory will be published this Thursday. And while I don't think many people are optimistic about it, in fact many are expecting a marginal contraction, this could have an affect on people's perception of the real estate market. As you pro...
10/26/2008
A couple of days ago I had made a post about the new NAR existing home sales data. The new data revealed that home sales are up, housing inventory was down, and the month's supply of housing was also down - all of which was a good thing. I mentioned I was cautiously optimistic about this data as ...
10/25/2008
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