In the Beginning...
Yeah, yeah, yeah, I know "not another real estate bubble blog!". Right...and not so, right. Unlike other blogs out there that rail on and on about what's wrong, we will attempt to show you what's right and how to take advantage of it.
This blog is written by an Appraiser (me) who is actively involved in Real Estate Valuation and who has his eye on the day to day movement of the market and all that influences it.
Of course, that means (cue in dramatic music)...the Stock Market (cue out dramatic music). We (me, myself & I) will also be looking at how what happens on Wall Street influences Real Estate and vice versa.
And on a special note, I chose to launch today (at like THREE in the morning) because it's my son Malaki's 8th birthday. And if you're wondering, his name is pronounced Mal-uh-kie, just like Malachi, the last book of the Old Testament. Here's to you kid...
Wednesday, September 19, 2007
THE BUBBLE GOES UP...
August Foreclosure Filings Rise 115% from Year Ago
U.S. foreclosure filings rose 36% in August from July and 115% from a year ago, hit by declines in once-hot housing markets such as California, Nevada and Florida, according to a report released Tuesday.
RealtyTrac's U.S. Foreclosure Market Report found the number of foreclosure filings in August -- default notices, auction sale notices and bank repossessions -- was 243,947, the highest since it began its monthly report in January 2005, just months before the housing boom peaked.
That translates into one foreclosure filing in August for every 510 households, also a high for the RealtyTrac report. CNBC
August Foreclosure Filings Rise 115% from Year Ago
U.S. foreclosure filings rose 36% in August from July and 115% from a year ago, hit by declines in once-hot housing markets such as California, Nevada and Florida, according to a report released Tuesday.
RealtyTrac's U.S. Foreclosure Market Report found the number of foreclosure filings in August -- default notices, auction sale notices and bank repossessions -- was 243,947, the highest since it began its monthly report in January 2005, just months before the housing boom peaked.
That translates into one foreclosure filing in August for every 510 households, also a high for the RealtyTrac report. CNBC
THE BUBBLE GOES DOWN...
Bernanke Cuts on Slump `Potential,' Adopting Greenspan Approach
Sept. 19 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke adopted the approach of his predecessor Alan Greenspan, reducing interest rates to pre-empt an economic slump rather than waiting for one to occur.
The Fed yesterday lowered its benchmark interest rate by half a percentage point, surprising most economists and spurring the biggest rally in U.S. stocks since 2003. Policy makers said they based their decision on the ``potential'' for the sell-off in credit markets to hobble economic growth. BLOOMBERG
THE BUBBLE GOES UP...
Crude futures climb past $82 to uncharted territory
SAN FRANCISCO (MarketWatch) -- Crude-oil futures moved further into uncharted territory late Tuesday afternoon by topping $82 a barrel in electronic trading, buoyed by ongoing concerns over potential storm risks in the Gulf of Mexico, expectations for fall in U.S. supplies and bets that the Federal Reserve's decision to cut interest rates will help boost energy demand.
"With a typical disturbance that could become a Gulf hurricane, a full half-point drop in the Fed's target rate and concern that there will be another drop in gasoline stocks tomorrow, crude had no way to go but up," said James Williams, an economist at WTRG Economics. MARKET WATCH
Crude futures climb past $82 to uncharted territory
SAN FRANCISCO (MarketWatch) -- Crude-oil futures moved further into uncharted territory late Tuesday afternoon by topping $82 a barrel in electronic trading, buoyed by ongoing concerns over potential storm risks in the Gulf of Mexico, expectations for fall in U.S. supplies and bets that the Federal Reserve's decision to cut interest rates will help boost energy demand.
"With a typical disturbance that could become a Gulf hurricane, a full half-point drop in the Fed's target rate and concern that there will be another drop in gasoline stocks tomorrow, crude had no way to go but up," said James Williams, an economist at WTRG Economics. MARKET WATCH
THE BUBBLE GOES DOWN...
Asian Stocks Rally on U.S. Rate Cuts, Financials Surge
Asian markets continued to rally into the afternoon session Wednesday after the U.S. Federal Reserve slashed two key interest rates -- the benchmark fed fund rate and the discount rate -- by 50 basis points each.
The hefty move was a bold bid to shield the world's biggest economy from a housing slump and financial turbulence, raising hopes that Asia's largest export market will be able to ride out turmoil in the credit market. CNBC
Asian Stocks Rally on U.S. Rate Cuts, Financials Surge
Asian markets continued to rally into the afternoon session Wednesday after the U.S. Federal Reserve slashed two key interest rates -- the benchmark fed fund rate and the discount rate -- by 50 basis points each.
The hefty move was a bold bid to shield the world's biggest economy from a housing slump and financial turbulence, raising hopes that Asia's largest export market will be able to ride out turmoil in the credit market. CNBC
Subscribe to:
Posts (Atom)
