housing-2008

The selling pressure on Fannie Mae and Freddie Mac has been heavy this week after a Barron’s article published on the weekend made the case that both government sponsored entities would require a full fledged bailout.  This was made clear even prior to the Housing and Economic Recovery Act of 2008 being signed into law.  […]

The spin is out in full force folks. The Southern California housing numbers are now out and once again they show a dismal and pathetic market. Yet even in the face of falling prices ala the Wal-Mart commercials, you can rest assured that some are going to spin the data for all it […]

Dreams do come true.  In the ongoing saga of Ed McMahon’s housing troubles on his Beverly Hills home, yesterday Ed’s realtor stepped up to plate asking for someone to come purchase the home before it would be foreclosed in the next two weeks.  Well as it turns out none other than real estate mogul Donald […]

What may be more amazing than one Olympian swimming for 8 gold medals is the continued revisionist delusion of our former Federal Reserve chairman Alan Greenspan.  Greenspan in typical revisionist fashion, is now stating publicly that the government should have allowed Fannie Mae and Freddie Mac shareholders to be wiped out while breaking up the […]

What may be more amazing than one Olympian swimming for 8 gold medals is the continued revisionist delusion of our former Federal Reserve chairman Alan Greenspan.  Greenspan in typical revisionist fashion, is now stating publicly that the government should have allowed Fannie Mae and Freddie Mac shareholders to be wiped out while breaking up the […]

Much to my surprise as I was watching the Olympics this weekend, guess who appeared at the events in China?  Our own Treasury Secretary Hank Paulson was out on a vacation in China.  He was on Meet the Press with Tom Brokaw discussing the economic situation back home in the United States.  Everyone is entitled […]

Housing in California is years away from a bottom. Let me make that clear and if you have any doubts, after reading this essay you will have a better understanding as to how I arrived at that conclusion. This article is longer since it will try to answer many of the arguments from […]

The California housing market is facing a major calamity. In April of 2007 California reached a peak median price of $597,640 only to see those gains erased in the following year. By June of 2008, the median price in California is hovering at $368,250, a drop of 38.38% with no signs of slowing […]

“Americans, while occasionally willing to be serfs, have always been obstinate about being peasantry.”
- F. Scott Fitzgerald, The Great Gatsby
The Great Gatsby was published in 1925 and chronicles the Jazz Age and captures some of the excess of the roaring 20s.  F. Scott Fitzgerald wrote the novel during a time in which there was booming […]

Trying to figure out the aggregate housing price decline of a state as large as California is no easy task. For a state with over 36,000,000 people getting a simple statistic on housing is challenging and requires the ability to look at multiple sources of data. During the height of the housing bubble […]