2009
2,820 posts
2009 2,820
December 2009
- Renters Win!
- Reader Poll Results: Economic Outlook for 2010
- Hotels: Worst Year Since Great Depression
- Restaurant Index Shows Contraction in November
- Weekly Initial Unemployment Claims Decline
- New York General Fund Deficit
- Jim the Realtor: Squatter Scam
- Treasury Commits $3.8 Billion more to GMAC
- Reader Poll on Economic Outlook
- House Prices and the Unemployment Rate
- Chicago Purchasing Managers Increases in December
- Japan: Twenty Years Later
- Fannie, Freddie Changes
- Treasury plans GMAC cash infusion
- Are Homes now "Cheap"?
- ATA Trucking Tonnage Index Increases in November
- FDIC Insurance: Changes to TAGP effective on Jan 1st
- House Prices: Stress Test, Price-to-Rent, and More
- Case-Shiller House Price Graphs for October
- Case-Shiller House Prices Flat in October
- CRE: "We thought we were different"
- Fannie Mae: Delinquencies Increase Sharply in October
- Treasury and GSEs: A Failure to Communicate
- Market Update
- Credit Suisse: Uncapping Fannie, Freddie Losses Allow for ‘Large-Scale’ Buyouts
- Divergent Views on Treasury Yields in 2010
- CRE: Office Space Update
- NY Times: Recession Cases Flooding Courts
- Krugman: Another Contraction Possible
- Government Housing Support Update
- Weekly Summary and a Look Ahead
- Chinese Premier: No Change to Exchange Rate Policy
- Jim the Realtor: "Flippers Galore"
- Inventories and Q4 GDP
- Fannie, Freddie and the Struggles of HAMP
- Freddie Mac economist: 6% Mortgage rates by end of 2010
- Doubling Your Money while Earning 0.01 Percent
- Unofficial Problem Bank List: 545 Banks
- Happy Holidays
- Happy Holidays
- Some Holiday Music
- Hotel RevPAR Off only 5.6%
- Ny Fed: The Homeownership Gap
- Treasury: More Support for Fannie and Freddie
- Credit Card Anger
- Banks Betting on the Housing Crash
- Weekly Initial Unemployment Claims
- A Summary of Housing Posts Today
- As HAMP Fails, Treasury Flails
- See-through Hotels
- Residential Investment: Moving Sideways
- Ratio of Existing to New Home Sales at Record High
- New Home Sales Decrease Sharply in November
- November PCE and Saving Rate
- MBA: Mortgage Applications Decrease Sharply
- Modifications: The Rentership Society
- Financial Crisis Inquiry Commission set to Meet
- Mortgage Rates Move Higher
- More on Falling House Prices
- Philly Fed State Coincident Indicators Show Improvement
- More on Existing Home Sales
- Existing Home Sales up Sharply in November
- Q3 GDP Revised Down to 2.2%
- House Price Indices: Case-Shiller and LoanPerformance
- TARP Deadbeat List Grows to 55
- LoanPerformance: House Prices Fall 0.7% in October
- More on Temporary Help
- Moody's: CRE Prices Off 1.5% in October
- OCC and OTS: Foreclosures, Delinquencies increase in Q3
- Flow of Funds: Change in House Price Index
- Chicago Fed Index: Some Improvement in Economic activity in November
- Greece, Dubai Updates
- The Lost Decade
- Weekly Summary and a Look Ahead
- Fed's Flow of Funds now using LoanPerformance Index
- Snowstorm Forces Store Closures
- OpEd on AIG: Show Us the E-Mail
- FDIC Bank Failure Update
- Bernanke ARM OK, Head "Explodes"?
- "Snowmaggedon" for Northeast Retailers
- Senate Passes Unemployment Extension
- Mortgage Insurers Loosen Standards Slightly
- Unofficial Problem Bank List increases to 551
- Bank Failure #140: First Federal Bank of California, Santa Monica, California
- Bank Failure #139: Imperial Capital Bank, La Jolla, California
- Bank Failures #135 to 138: Four More
- Bank Failure #134: Rockbridge Commercial Bank, Atlanta, Georgia
- Moody's: Jumbo-MBS under Review for Downgrades
- A Recent Interview with Paul Samuelson
- Update on Bernanke's "Exploding" ARM
- Unemployment Rate Decreased in 36 States in November
- LA Area Port Traffic in November
- House Panel to Investigate Citi Tax Break
- Bank CEO Expects Prompt Corrective Action
- Report on Housing: 'Shadow Inventory’ Increases Sharply
- Feldstein: House Prices to Fall Further
- Hotel RevPAR Off 8.6%
- Does Morgan Stanley "Walking Away" from CRE Contribute to Strategic Defaults?
- Philly Fed: Region's Manufacturing Sector is Expanding
- Weekly Initial Unemployment Claims
- House Approves Next Stimulus
- Daily Show: Flight Delay
- NY Times: U.S. Reconsidering Citi Stake Sale
- Bernanke's ARM Explodes, Refinances into Fixed Rate Mortgage
- Comments on FOMC Statement, TIME Cover, and More
- FOMC Statement: No Change
- CPI and Falling Rents
- MBA: Mortgage Purchase Applications Flat, Rates Rise
- Housing Starts in November: Moving Sideways
- Citigroup's "Massive" Tax Break
- AIA: Architecture Billings Index Shows Contraction in November
- Bernanke Responds to Senator Bunning
- DataQuick: SoCal Home Sales Increase in November
- NAHB: Builder Confidence Declines in December
- Credit Card Charge-Offs Increase
- Industrial Production, Capacity Utilization Increase in November
- NY Fed: Manufacturing Conditions "Level Off"
- Thoughts on TARP Repayment
- Report: Wells Fargo to repay TARP
- Fed MBS Purchases: Over 85% Complete
- FDIC's Bair takes the "Over"
- Refinance Activity and Interest Rates
- Citi Reaches Agreement to Repay TARP
- Misc: Dubai, Citi, CRE
- Housing Bust and Mobility
- Large Apartment Developer Files for Bankruptcy
- Summary and a Look Ahead
- Volcker Cautions on Complacency
- WaMu Freedom of Information Request Denied
- Jim the Realtor: McMansion Foreclosures Coming
- FDIC Bank Failure Update
- Refinancing with Negative Equity
- Housing Inventory: A Local Observation
- Distressed Sales: Sacramento Market as an Example
- Volcker: "Not time for business as usual"
- Unofficial Problem Bank List, Dec 11, 2009
- Bank Failure #132&133: Arizona and Kansas
- Bank Failure #131: Republic Federal Bank, National Association, Miami, Florida
- San Francisco Bank: "Not-so-smart" CRE Loans
- House Approves Bank Reform
- Q3 2009: Mortgage Equity Extraction Strongly Negative
- University of Michigan Consumer Sentiment
- Retail Sales increase in November
- WaPo: New TARP Rules to Aid Small Businesses?
- Retail Sales: "Looks like the middle of August out there"
- HAMP Questions
- HAMP: 31,382 Permanent Mods
- Fed Q3 Flow of Funds Report
- Hotel RevPAR off 11.9%
- Trade Deficit Declines in October
- Weekly Initial Unemployment Claims Increase to 474,000
- "Toxic Titles"
- The Rentership Society
- Subprime Home Invasion
- CNBC: Citi to Repay TARP
- Expected Mortgage Rates
- Volcker to Bankers: "Wake up, gentlemen"
- Rail Traffic in November
- MBA: Mortgage Refinance Applications Increase
- BLS: Near Record Low Labor Turnover
- Book Review: "American Apocalypse"
- JPMorgan: 200,000 HAMP Mods Offered, Only 2% Permanent
- Survey: Companies More Upbeat on Sales, Negative on Jobs
- Morgan Stanley: Fed to Raise Rates in 2nd Half of 2010
- Treasury: "Thousands of Borrowers" have received Permanent Modifications
- Meredith Whitney: Consumers in Trouble
- Obama to Announce New Stimulus Package
- Zombie Buildings
- NY Fed President Dudley: Still More Lessons from the Crisis
- BofA on Modifications: Two thirds of Borrowers have not Submitted Full Docs
- Consumer Credit Declines for 9th Straight Month
- Fed Chairman Bernanke: Frequently Asked Questions
- Tim Duy's Fed Watch: Structural and Cyclical
- Trapped under TARP: Regional Banks and Real Estate Loans
- Treasury Forecasts Smaller Loss from TARP
- Financial Times: Bear Stearns and Lehman Executives Cashed in before Collapse
- Employment and Real GDP
- Summary and a Look Ahead
- Temporary Help
- Is Dubai Holding the next Dubai World?
- Fannie and Freddie Put Back More Loans to Lenders
- Autos: Google Domestic Trends
- Jim the Realtor Shows some New Construction
- Moody's: Option ARMs Show "Dismal Performance"
- FDIC Bank Failure Update
- Slow Start for Modifications
- Unofficial Problem Bank List, Dec 4, 2009
- Bank Failure #130: Greater Atlantic Bank, Reston, Virginia
- Bank Failure #129: Benchmark Bank, Aurora, Illinois
- Bank Failures #127 & 128: Down Goes AmTrust
- Bank Failures #125 & 126: Two more in Georgia
- Market Update
- If the Economy lost Jobs, why did the Unemployment Rate decline?
- Unemployment: Record number Unemployed over 26 Weeks, Diffusion Index
- Seasonal Retail Hiring, Employment-Population Ratio, Part Time Workers
- Employment Report: 11K Jobs Lost, 10% Unemployment Rate
- Employment Report Forecasts
- BofA Raises $19.3 Billion
- Fed Chairmen Never Learn
- AmTrust Lawyers Discuss Bank Seizure
- Hotel RevPAR off 8.4 Percent
- ISM Non-Manufacturing Shows Contraction in November
- Bernanke Confirmation Hearing
- Weekly Initial Unemployment Claims: 457,000
- Fed's Sack: MBS Purchases Lowered Mortgage Rates by 100 bps
- Goldman Forecast: Unemployment to Peak in 2011
- BofA to Repay $45 Billion in TARP
- HUD's Donovan: "Next Steps" for FHA
- Fed's Beige Book: Economy "improved modestly"
- Bank Holding Company files for Bankruptcy, Bank Still Operates
- ABI: Pesonal Bankruptcy Filings Decline in November
- Lend America Closes Down After FHA Cancels Approval
- ADP: Private Employment Decreased 169,000 in November
- FHA to Ask Congress for Changes
- Leonhardt on Long Term PEs
- The Impact of Stimulus on GDP
- Light Vehicle Sales 10.9 Million SAAR in November
- ISM and Manufacturing Employment
- Ford: U.S. November Sales Flat
- ISM Manufacturing Index shows Slower Expansion in November
- Construction Spending Flat in October
- Treasury Guidance on Short Sales
- Dubai's Structured Debt
- More Dubai
November 2009
- Tanta: A Sad Anniversary
- CNBC on Dubai World Debt Restructuring
- Restaurant Index Shows Contraction in October
- US Treasury Announces "Mortgage Modification Conversion Drive"
- Chicago Purchasing Managers Index Increases in November
- Dubai: Government Will Not Stand Behind Dubai World Debt
- More Dubai and Futures
- The Times: United Arab Emirates takes hard line on Dubai
- Summary and a Look Ahead
- NRF: Number of Shoppers Up, Average Spending Down
- Dubai Update
- Apartment Rents Fall 4.9% in SoCal
- Abu Dhabi and Dubai: Dueling Headlines
- Growth of Problem Banks (unofficial)
- Consensus on Permanent Mods: "Program has proved inadequate"
- Thanksgiving Weekend Mortgage Litigation Roundup
- Your Morning Dubai
- Flipper in Trouble?
- Northern Trust on Dubai
- Unofficial Problem Bank List Increases Significantly
- More on Dubai
- WaPo: A Liar Loan Example
- UBS Analysts: Dubai Debt may be more than $80 Billion
- Europe, Asia Sell-Off on Dubai Reports
- $430 Billion in CRE Losses?
- Music: It's Beginning to Look a Lot More Riskless
- Dubai Default
- Mortgages: Few Permanent Mods
- Fannie Mae to Tighten Some Standards
- Housing: A Weak Start to November
- Jim the Realtor Interviews a Real Estate Flipper
- Bankruptcy Filings Increase 34 Percent
- Ratio of Existing to New Home Sales
- MBA: Mortgage Applications Decrease, Rates Fall Slightly
- New Home Sales in October
- October PCE and Saving Rate
- Weekly Initial Unemployment Claims Decline Sharply
- ATA Truck Tonnage Index Declines in October
- Philly Fed State Coincident Indicators
- Negative Equity Report for Q3
- FOMC Minutes: "Unemployment expected to remain elevated for some time"
- House Prices: Real Prices, Price-to-Rent, and Price-to-Income
- FDIC Q3 Banking Profile: 552 Problem Banks
- Case Shiller Home Price Graphs
- Case-Shiller House Prices Increase in September
- Q3 GDP Revised Down to 2.8%
- Mortgages: 23% of Borrowers have Negative Equity
- Forecasts: Unhappy Holidays for Restaurants and Hotels
- Report: Fed asks Big Banks for TARP Repayment Plans
- Moody’s: Credit Card Delinquencies Rise
- Existing Home Sales: Distressing Gap
- Existing Home Sales Graphs
- Existing Home Sales increase sharply in October
- Chicago Fed Index: "Economic activity leveled off in October"
- WWII Slogan Makes a Comeback
- Fed's Bullard Backs Extension of MBS Purchases
- Possible Changes to FHA Insured Mortgages
- Summary and a Look Ahead
- CRE Owners Seeking Property Tax Relief
- More on Strategic Defaults
- Jon Stewart on Silver Dome, Goldman Sachs and more
- The Fed and Mortgage Rates
- FDIC Bank Failure Update
- Fed Watch: "The Fed in a Corner"
- Jim the Realtor: Trustee Sale
- Unofficial Problem Bank List Increases to 513
- Bank Failure #124 in 2009: Commerce Bank of Southwest Florida, Fort Myers, Florida
- Moody's: CRE Prices Off 43% from Peak
- National Survey: Data on Home Buying Financing
- Krugman on AIG
- Unemployment Rate Increases in 29 States in October
- A Few House Price Forecasts
- More on FHA Loans
- On Negative T Bills
- States: Seriously Delinquent Mortgages vs. Unemployment Rate
- Mortgage Delinquencies and Foreclosures by Period Past Due
- Hotel RevPAR off 15.7 Percent
- MBA Forecasts Foreclosures to Peak in 2011
- MBA: Record 14.4 Percent of Mortgage Loans in Foreclosure or Delinquent in Q3
- Weekly Initial Unemployment Claims: 505,000
- The Failure of Regulatory Oversight
- MBA: Purchase Applications Fall to 12 Year Low
- One million Workers to Exhaust Unemployment Benefits in January
- Housing Leads the Economy, Existing Home Sales are Irrelevant
- Quarterly Housing Starts and New Home Sales
- Falling Rents and Minneapolis
- AIA: Architecture Billings Index Shows Contraction
- Housing Starts Decline Sharply in October
- California Still Faces Large Budget Deficit
- Cash for Caulkers?
- The Next Stimulus: "Jobs, jobs, jobs, jobs"
- More on Industrial Production
- DataQuick: SoCal Home Sales Increase
- NAHB: Builder Confidence Flat in November
- Fed's Lacker: Fed Can't be "paralyzed by patches of lingering weakness"
- Industrial Production, Capacity Utilization Increase Slightly in October
- Report: Record Mortgage Loan Delinquency Rates in Q3
- Merle Hazard: Give me that Old Time Recession
- Update on Las Vegas Cosmopolitan Resort & Casino
- TARP Watchdog: AIG Bailout Transferred Billions from Government to Counterparties
- Meredith Whitney Expects Double-Dip Recession, FDIC dumps "Cease & Desist"
- LA Area Port Traffic in October
- Fed Chairman Ben Bernanke at Economic Club of NY
- Business Inventories Decline in September
- Retail Sales Increase in October
- IMF: China Needs Stronger Currency
- Housing Starts and Vacant Units: No "V" Shaped Recovery
- Krugman Suggests $300 Billion Jobs Program
- Summary and a Look Ahead
- China Banking Regulator: U.S. Policy Fueling Asset Speculation
- Orion Bank CEO Had a Plan ...
- Home Builder's Return on Lobbying
- Zell on CRE: Too Soon for Grave Dancing
- Pension Benefit Guaranty Corporation Deficit Increases
- U.K. Mortgage Lenders: Don't Treat Us like "Drug Dealers"
- More Losses for TARP
- Unofficial Problem Bank List increases to 507
- Bank Failure #123 in 2009: Pacific Coast National Bank, San Clemente, CA
- Bank Failures #121 & 122: Two more in Florida
- State Budget Quote of the Day, and more Bank Failure Preview
- Bank Failure Preview
- Housing Starts and the Unemployment Rate
- Euro Zone GDP Grows in Q3
- Trade Deficit Increases in September
- The Next Stimulus Package
- TARP Inspector General: Taxpayers to suffer Losses
- Rail Traffic Declines Slightly in October
- FHA on DAPs: "Too many homeowners not equipped for home ownership"
- Hotel RevPAR off 11.8 Percent
- FHA Reserves Fall Sharply, Well Below Required Minimum
- MBA: Purchase Applications Fall to Nine Year Low
- Weekly Initial Unemployment Claims: 502 Thousand
- Fannie, Freddie, Counterparty Risk and More
- BofE's Mervyn King: Worst Over, "Long hard haul" Ahead
- WSJ on Permanent Modifications
- Unsolicited Principal Reduction Offer from BofA
- Economic Outlook: Possible Upside Surprises, Downside Risks
- FHA Temporarily Relaxes Condo Rules
- Orange County: Foreclosure Notices Hit Record High
- California Controller: Overview of the Commercial Property Markets
- Fed's Fisher: Suboptimal Growth in 2010, "Perhaps" 2011
- Loan Modifications: Key Numbers not Released
- Counterparty Risk: The Mortgage Insurers
- Fed's Yellen on the Economic Outlook
- Fed's Lockhart on CRE and Small Business
- Tough Times for the Travel Industry
- Employment and the Seasonal Adjustment
- Mishkin: Not all bubbles the same
- NY Governor: "Unprecedented financial challenge"
- Distressed Sales: Sacramento as Example
- Fed: Lending Standards Tighten, Loan Demand Weakens
- The 2009 Jobless Recovery
- Fed's Bullard: Inflation Outlook Uncertain
- WalMart: Quote of the Night
- Default Notices: Movin' on Up!
- Summary and a Look Ahead
- Putting the MERS Controversies in Perspective
- First American CoreLogic Economist: Decline in Distressed Inventory a "Mirage"
- Nevada Construction Crane: "Endangered species"
- U.K. Record 35 Thousand People Declared Insolvent in Q3
- TARP Loses $299 million Investment in United Commercial Bank
- U.K.: Bank of England Warns of "Doom Loop"
- NY Times: Unemployment Measure U-6 Highest Since Great Depression
- Bank Failure #120: United Commercial Bank, San Francisco, California
- Unofficial Problem Bank List Grows to 505
- Bank Failures #118 & 119: Banks in Minnesota & Missouri
- Bank Failure #117: Home Federal Savings Bank, Detroit, Michigan
- Bank Failure #116: United Security Bank, Sparta, Georgia
- Consumer Credit Declines Sharply in September
- CRE Report: "Gloomy Times"
- Unemployment: Stress Tests, Unemployed over 26 Weeks, Diffusion Index
- Employment-Population Ratio, Record Part Time Workers, Weak Holiday Hiring
- Employment Report: 190K Jobs Lost, 10.2% Unemployment Rate
- Employment Report Preview
- Report: Pre-Retirees in Denial on Savings
- Fannie Mae: $18.9 Billion Loss, Requests Another $15 Billion
- Obama to Sign Extension of Unemployment Benefits and Housing Tax Credit Friday
- Hotel RevPAR Off 13.8 Percent
- Fannie Mae Announces "Lease for Deed" Program
- Weekly Initial Unemployment Claims: 512,000
- Politicians Pressuring Regulators on Banks
- FHA Delays Fiscal Report
- ISM and Employment: Manufacturing Gives, Service Takes Away
- FOMC Statement: Low Rates for Extended Period
- ABI: Personal Bankruptcy Filings Increase in October
- ISM Non-Manufacturing Shows Expansion in October
- ADP: Private Employment Decreased 203,000 in October
- Congress Votes for Housing Tax Credit
- NY Times Leonhardt: The Optimistic View
- A Look Back at a the GM Sales Forecast
- Light Vehicle Sales 10.5 Million (SAAR) in October
- Commercial Real Estate Price Indexes
- Ford: U.S. Oct. sales rise 2.6%
- Homeownership can be a Nightmare
- Another $51 Billion for RBS and Lloyds
- Residential Investment Components in Q3
- Official: Obama Considering Next Stimulus Package
- Q3: Office, Mall and Lodging Investment
- Fed Official: "Loan quality is poor ... continues to deteriorate"
- ISM and Manufacturing Employment
- Construction Spending increases in September
- ISM Manufacturing Index shows expansion in October
- U.K.: Breaking up Lloyds and RBS
- Holiday Parties: Turn out the Lights
- More on Falling Rents
- CIT Board Approves Bankruptcy Filing
- Weekly Summary
- Report on Goldman's Bets on the Housing Crash
- Bird & Fortune on "banking, bonuses, boom and bust"
October 2009
- October Economic Summary in Graphs
- Housing: "First-time buyers and investors" are "market’s lifeblood"
- Cartoon: "Trying to Reinflate the Bounce House"
- FDIC Bank Failure Update
- Unofficial Problem Bank List Grows to 500
- Bank Failures 107 through 115: Nine Failed Banks in Arizona, California, Illinois and Texas
- Reports: U.S. set to seize FBOP, Pacific National Bank
- Fannie Mae: Delinquencies Increase Sharply in August
- Martin Wolf Interview, Wilbur Ross on CRE, and Market
- Report: CIT to File Bankruptcy on Sunday
- Restaurant Index Shows Contraction, Less Capital Spending
- Cartoon: Recession is Over!
- September PCE and Saving Rate
- Mark Zandi on the Great Recession
- Random Thoughts on the Q3 GDP Report
- Moody's Projects Further House Price Declines, Market and More
- NMHC Quarterly Apartment Survey: Occupancy Continues to Decline, but Pace Slows
- Hotel RevPAR Off 14 Percent
- Q3: Record Rental Vacancy Rate, Homeownership Rate Increases Slightly
- Weekly Initial Unemployment Claims: 530 Thousand
- BEA: GDP Increases at 3.5% Annual Rate in Q3
- In re Olga: of Bankruptcy and Foreclosure
- Home Buyer Tax Credit Revision
- Report: The WaMu "Bank Run" Rumors were True
- Another Home Buyer Tax Credit Update
- New and Existing Home Sales: The Distressing Gap
- New Home Sales Decrease in September
- MBA: Mortgage Applications Decrease
- Report: GMAC in Talks for Bailout, and Summary
- Home Buyer Tax Credit to be Extended and Eligibility Expanded
- Update on Housing Tax Credit
- CRE: Liberty Property Trust Conference Call Comments
- Home-Buyer Tax Credit and Unemployment
- House Prices: Stress Test and Price-to-Rent
- Case-Shiller Home Price Index Increases in August
- Case-Shiller Composite 20 Home Price Index Increases 1.2% in August
- Johnson and Kwak: The home-buyer tax credit: Throwing good money after bad
- A Little Good News for Retail CRE in Britain
- CRE Prices: Healthy and Distressed
- SF Fed: Recent Developments in Mortgage Finance
- Report: First Time Homebuyer Tax Credit to be Phased Out
- ATA Truck Tonnage Index Declines in September
- Chicago Fed Index: Near Pre-Recession Levels
- ING to Raise $11.3 Billion, Lloyds to Raise $38 Billion
- Capmark Files Bankruptcy
- Summary and more ...
- More on the "Job Loss" Recovery
- Seattle Times: "Reckless strategies doomed WaMu"
- Hutton: "Mervyn King is right"
- Silicon Valley Office Vacancy Rate over 19 Percent
- Report: Capmark May File Bankruptcy this Weekend
- Goldman: Government Policies Boosted House Prices 5%
- FDIC Bank Failure Update
- Problem Bank List (Unofficial) Oct 23, 2009
- Bank Failure 106: First Dupage Bank, Westmont, Illinois
- Bank Failures 104 & 105 in Wisconsin and Minnesota
- Bank Failures 102 & 103: Two More Florida Banks
- Bank Failure #101: American United Bank, Lawrenceville, Georgia
- Bank Failure #100: Partners Bank, Naples, Florida
- Market, CRE Stories, and CIT Update
- Existing Home Sales: More Activity, Little Achievement
- Freddie Mac: Delinquency Rate Rises to 3.33 Percent
- Philly Fed State Coincident Indicators Show Widespread Weakness in September
- Existing Home Sales Increase in September
- U.K.: Recession Not Over
- Jim the Realtor: Not everything is Selling
- CNBC's Olick: Could Home Valuation Code of Conduct Be History??
- Fed Treasury Purchases: Just $2 Billion More
- Christina Romer on Impact of Stimulus on GDP
- Hotel RevPAR off 16 Percent
- CNN: 7,000 People per Day exhaust Extended Unemployment Benefits
- Weekly Unemployment Claims Increase
- Apartment Rents "Plunge" in the West
- Financial Times: Top China banker warns on asset bubbles
- Macroblog: "The growing case for a jobless recovery"
- Fed's Beige Book: Stabilization
- Fed's Tarullo on "Too Big to Fail"
- States Report Widespread Job Losses in September
- AIA: Architectural Billings Index Shows Contraction
- MBA: Mortgage Applications Decrease, Rates Rise
- Summary and Too Small To Fail?
- BofE Mervyn King: "Biggest moral hazard in history"
- Home Buyer Tax Credit DOA?
- HAMP Modification Documents
- DataQuick: California Mortgage Defaults Trend Down in Q3
- MBA's Chief Economist Brinkmann on State of Housing
- Housing and the Economy
- Housing Starts in September: Moving Sideways
- NRF: Economy Impacting Holiday Spending Plans for Two-Thirds of Families
- WSJ: IRS Examining Many Suspicious First-Time Homebuyer Tax Credit Claims
- An FHA Loan Example, Einhorn Speech, and More
- Moody’s: CRE Prices Off 41 Percent from Peak, Off 3% in August
- Campbell Surveys: ‘Mini-Boom’ in Existing Home Market
- NAHB: Builder Confidence Decreases Slightly in October
- Bloomberg: FDIC Failed to Limit CRE Loans
- U.K. FSA: "More intrusive and interventionist style of regulation"
- Weekend Summary
- U.S. Bank v. Ibanez: More fun with foreclosures
- Inventory Restocking and Q3 GDP
- McClatchy: "How Moody's sold its ratings"
- Offices: See-Through Buildings in LA
- U.K.: FSA to Tighten up Mortgage Regulation, Ban Stated Income Loans
- HUD Inspector General's Report on FHA Lender Approval Process
- Inspector General Report: FHA Lacks Resources to Ensure Lenders Meet Requirements
- Florida Unemployment Rate Hits Series High 11%
- LA Area Port Traffic in September
- Jon Stewart: "Party Like it's 1999!"
- Bank Failure #99: San Joaquin Bank, Bakersfield, California
- Problem Bank List (Unofficial) Increases Significantly: Oct 16, 2009
- First Fed California Modifies Performing Loans, Brags about 28% Default Rate
- More Job Losses in California in September
- Larry Summers on Banks: "Time has come for fundamental change"
- Industrial Production, Capacity Utilization Increase in September
- Bank of America Still Struggling
- U.S. Charges 41 with Mortgage Fraud
- The Uncertain Housing Outlook
- Citi Conference Call Comments on Impact of HAMP
- Hotel RevPAR off 12 Percent
- Philly Fed Index, NY Fed Survey and Misc
- RealtyTrac: Foreclosure Activity Increases in Q3
- CPI: Owners' Equivalent Rent Declines for First Time Since 1992
- Weekly Unemployment Claims: Decline to 514 Thousand
- Amherst: Few HAMP Modifications to be Successful
- House Buying Frenzy
- Groundhog Day on Wall Street
- FOMC Minutes: "Considerable Uncertainty" about Economic Growth when Fiscal Stimulus Wanes
- Update on Stuy Town
- JPMorgan Conference Call
- Retail Sales Decrease in September
- Pearlstein: "Don't Reinflate the Old Bubbles"
- MBA CEO: "Can't Modify Mortgage with No Income"
- Fed's Kohn: Economic Outlook
- JPMorgan Proposes More 'Extend and Pretend' for Mortgage Modifications
- DataQuick: SoCal home sales "inch up"
- CRE in San Diego, Orange County and Las Vegas: Higher Vacancy Rates, Lower Rents
- Report: CIT Nears Bankruptcy, CEO to Resign
- Fed's Bullard: Falling Unemployment Rate "Prerequisite" for Rate Increase
- CBRE: Retail Cap Rates Increase Sharply in Q3
- The History of the World wouldn't be complete without ...
- Mortgage Modifications and BofA
- Hotel Industry Pulse Index Declines in September
- Distressed Sales: Sacramento as Example
- Rosenberg on Economy: "String of lowercase Ws for the next five years"
- Foreclosures Movin' on Up or Euphoria Express?
- More on When the Fed might Raise Rates
- Ivy Zelman on Housing
- A Policy: Supporting House Prices
- The Pension Crisis
- The coming CRE losses for Local and Regional Banks
- Banks Reducing Lending to Small Businesses
- Congressional Oversight Panel: Obama Foreclosure Plan will Fall Short
- A CRE News Summary
- Problem Bank List (Unofficial) Oct 9, 2009
- California Controller: "Prepare for more difficult decisions ahead"
- Thirty-three TARP Recipients Miss Scheduled Dividend Payments
- BLS: Job Openings at Series Low at End of August
- More on Problems at the FHA and Quote of the Day
- Trade Deficit Decreases Slightly in August
- NY Times: Divergent Fed Views
- Fed's Tarullo: "Considerable uncertainty" about "how robust growth will be in 2010"
- Hotel Occupancy: Two Year Slump
- Treasury: 500,000 mortgage modifications started
- FHA Bailout Seen
- Reis: Strip Mall Vacancy Rate Hits 10.3%, Highest Since 1992
- Weekly Unemployment Claims: Lowest Since January
- Report: Pimco, Baupost Quit CIT Bondholder Committee
- Jim the Realtor: "No shortage of buyers"
- The Housing Tax Credit: NAHB Projections and more
- Consumer Credit Declines Sharply in August
- Hotel Defaults and Foreclosures Increase Sharply in California
- Office Vacancy Rate and Unemployment
- NY Times: Employment Tax Credit Gains Support
- Reis: U.S. Office Vacancy Rate Hits 16.5% in Q3
- Fed Worries about CRE Grow
- Small Business and Employment
- Starwood to Buy Corus Assets
- Inland Empire Retail Vacancy Rate Increases
- Report: Manhattan Office Vacancy Rate Increases, Rents Decline
- NRF Forecasts One Percent Decline in Holiday Retail Sales
- Apartment Vacancy Rate at 23 Year High
- Sorkin Book Excerpt: "Too Big to Fail"
- NY Fed's Dudley: Downside Risks to Inflation for "next year or two"
- CityCenter Las Vegas Cuts Condo Prices 30% for Existing Buyers
- New York Income Tax Revenue Falls 36%
- A comment on Senators Cornyn and Schumer and the Housing Market
- ISM Non-Manufacturing Shows Expansion in September
- U.K.: FSA Introduces Tighter Liquidity Requirements
- Roubini: Investors Too Optimistic
- MERS v. Kansas
- Failed Banks and the Deposit Insurance Fund
- Weekly Summary
- On Extending the Safety Net
- The Impact of the Declining Homeownership Rate
- NY Times: Retailers Expect No Growth in Holiday Spending
- Comparing Employment Recessions including Revision
- Problem Bank List (Unofficial) Oct 2, 2009
- Bank Failure #98: Southern Colorado National Bank, Pueblo, Colorado
- Bank Failure #97: Jennings State Bank, Spring Grove, Minnesota
- Bank Failure #96: Warren Bank, Warren, Michigan
- Report: Starwood "Winner" of Corus "Assets", and more Walking Away from Hotels
- Bloomberg: Banks With 20% Unpaid Loans
- ABI: Personal Bankruptcy Filings up 41 Percent Compared to Sept 2008
- Employment-Population Ratio, 10% Unemployment, Part Time Workers
- Unemployment: Stress Tests, Unemployed over 26 Weeks, Diffusion Index
- Employment Report: 263K Jobs Lost, 9.8% Unemployment Rate
- "After the Storm": No Immaculate Recovery
- Summary and Misc Articles
- Light Vehicle Sales 9.2 Million (SAAR) in September
- Hotel RevPAR off 16.6 Percent
- Ford reports U.S. Sept. sales fall 5.1%
- Construction Spending increases in August
- ISM Manufacturing shows expansion in September
- August PCE and Saving Rate
- Weekly Unemployment Claims: 551,000
- Summary: Today and Tomorrow
September 2009
- BofA CEO Ken Lewis to Retire
- OCC and OTS: Modification Re-Default Rates
- Restaurants: 24th Consecutive Month of Contraction
- OCC and OTS: Foreclosures, Delinquencies increase in Q2
- Chicago Purchasing Managers Index Declines in September
- MBA: 30 Year Mortgage Rate Falls to 4.94 Percent
- Survey: Home Purchase Market by Homebuyer Category
- Report: CIT Preparing Plan to Hand Control to Bondholders
- Citi Still Using FDIC TLGP
- Market Update
- House Prices: Stress Test and Price-to-Rent
- FDIC Seeks $45 Billion in Prepayments from Banks
- Fannie Mae Serious Delinquency Rate increases Sharply
- Case-Shiller House Prices increase in July
- The Housing Tax Credit and the Consumer Price Index
- MBIA Cut to Junk
- FDIC Considers Having Banks Prepay Assessments
- PIMCO: Personal Saving Rate to Exceed 8 Percent
- Credit Indicators
- Chicago Fed Index: Economic activity lower in August
- Report: New Short-term Borrowing Rules being considered for Banks
- Mortgages: New Rules for High-Cost Loans take effect on Oct 1st
- The Condo Glut
- The Fed and Subprime Lending: The Watchdog that Didn't Bark
- Banks: Troubled Asset Ratio
- WaPo: An Interview with Barney Frank
- IMF Managing Director: "Too early to claim victory"
- L.A. Times: A House is a Home
- G-20 Agreements
- Problem Bank List (Unofficial) Sept 25, 2009
- Bank Failure #95: Georgian Bank, Atlanta, GA
- Freddie Exec Compensation, Bandos, Market and more
- Truck Tonnage Index Increased in August
- Existing Home Turnover Ratio, and Distressing Gap
- New Home Sales Flat in August
- Durable Goods Orders off 2.4% in August
- CNBC: Lawler on Housing
- FDIC: "Credit quality declined sharply" for Shared National Credits
- Fed: Homeowner Mortgage Obligations Still Historically High
- Hotel RevPAR off 18.3 Percent
- More on Existing Home Inventory
- Existing Home Sales Decline in August
- Weekly Unemployment Claims Decline
- Volcker on Financial Reform
- Jim the Realtor: New Homes in San Diego
- Falling Rents, Credit Card Defaults, and Market
- FOMC Statement: Slow MBS Purchases
- Retail Hiring Outlook "Jobs Scarce"
- DOT: Vehicle Miles increase in July
- MBA: 30 Year Mortgage Rates Fall Below 5 Percent
- WSJ: Delayed Foreclosures and "Shadow" Inventory
- Home Purchase Market by Property Category
- A comment on Option ARMs
- The Housing Tax Credit Debate is Heating Up
- Q2 2009: Mortgage Equity Extraction Strongly Negative
- Philly Fed State Coincident Indicators
- Bank Report: Asia Rebounding
- Inspector General: FDIC saw risks at IndyMac in 2002
- Banks to Make Loans to FDIC?
- Fed Funds and Unemployment Rate
- Moody’s: CRE Prices Off 39 Percent from Peak, Off 5% in July
- GAO Report: AIG Stabilized, Repayment "Unclear"
- AIA: Architectural Billings Index Declines in August
- Report: Mortgage Delinquencies increase in August
- Housing: "Facing a triple whammy" at end of Year
- Sunday Night Miscellaneous
- Capital Spending and Consumer Spending
- NY Times: Financial Crisis Inquiry Commission
- A couple of Bullish Views
- San Francisco: $30 Billion Option ARM Time Bomb
- Senator Dodd Pushing New Bank Regulatory Plan
- Need a hideout?
- Report: Strategic Defaults a "Growing Problem"
- Leonhardt: Wages Grow for Those With Jobs
- Problem Bank List (Unofficial) Sept 18, 2009
- Bank Failures #93 & 94: Irwin Union Bank, F.S.B., Louisville, Kentucky, and Irwin Union Bank and Trust Company, Columbus, Indiana
- Market, “I.B.G. - Y.B.G.” and Fed MBS and Treasury Purchases
- Hamilton on Regulating Banking Sector Compensation
- Unemployment Rates: California, Nevada, and Rhode Island set new series highs
- FDIC's Bair: DIF May Borrow from Treasury
- WaPo: FHA Cash Reserves Will Drop Below Requirement
- Iowa Attorney General: "Option ARMs are about to explode"
- FTC Considering Ban on Upfront Loan Mod Fees
- The Impact on Mortgage Rates of the Fed buying MBS
- DataQuick: California Bay Area Sales Decline
- Hotel RevPAR off 25.5%
- Fed: Household Net Worth Off $12.2 Trillion From Peak
- Philly Fed Index Increases in September
- Housing Starts in August: Moving Sideways
- Weekly Unemployment Claims: Stuck at High Level
- More on Housing Tax Credit
- Jobs, Jobs, Jobs
- Report: Fed Reviews Banks CRE Exposure
- NAHB: Builder Confidence increases Slightly in September
- Roubini: "Desperately seeking an exit strategy"
- Industrial Production, Capacity Utilization Increase in August
- CPI Increases 0.4% in August, BLS Rent Measures Increase Slightly
- Streitfeld: The Housing Tax Credit Debate
- Credit Cards: Most Institutions Report higher Write-Offs in August
- LA Area Port Traffic in August
- The End of the Official Recession?
- DataQuick: SoCal Home Sales Decline
- Ghost Towns in Ireland
- Bernanke on Financial Crisis of 2008
- Retail Sales increase in August
- More on U.S. Possibly Selling Citi Stake
- Report: U.S. Discussing Selling Citi Shares
- Fed's Yellen: The Outlook for Recovery
- Report: BofA Execs to Face Civil Charges
- More Accidental Landlords
- D.C.: "The commercial version of the subprime situation"
- Fed's Duke on Accounting Changes
- A Moment with Minsky
- Stiglitz: Banking Problems Worse than in 2007
- The Credit Score Impact of Mortgage Choices
- Foxwood Casino Debt Problems
- Federal Reserve Oversight and the Failure of Riverside Bank of the Gulf Coast
- Failed Banks and the Deposit Insurance Fund
- OECD: Global Recession Over
- Jim the Realtor: On the REO Trail
- Distressed Sales: Sacramento as Example
- Problem Bank List (Unofficial) Sept 11, 2009
- Bank Failure #92: Venture Bank, Lacy, Washington
- Bank Failure #91: Brickwell Community Bank, Woodbury, Minnesota
- Bank Failure #90: Corus Bank, National Association, Chicago, Illinois
- Report: Down Goes Corus!
- Market and AIG Probe
- Bandos at the Beach and other Foreclosure Stories
- Hotel RevPAR off 9.9 Percent
- University of Michigan Consumer Sentiment
- FedEx: "Difficult to predict timing of any economic recovery"
- Corus Bank Watch
- Fed Vice Chairman Kohn on Monetary Policy
- MEW and the Wealth Effect
- Census Bureau: Real Median Household Income Fell 3.6%
- Report: Treasury to Announce Short Sale Incentives this Month
- Trade Deficit Increases in July
- Weekly Unemployment Claims Decline
- Corus Bank: "The Great Enabler of Condo Madness"
- Obama on Health Care
- A comment on the Deficit and National Debt
- Market and StuyTown Update
- Fed's Beige Book: Economic Activity Stabilizing
- Mortgage Cram Downs: The Return
- Treasury: Millions More Foreclosures Coming
- Bankruptcies: Movin' on Up!
- Interest Only Loans: Another Time Bomb
- FHA Lenders with High Default Rates
- Fitch on Option ARM Recasts
- Consumer Credit Declines Sharply in July
- Seasonal Retail Hiring
- Google Domestic Trends
- U.K.: End of Recession, Not "return to normal"
- U.S. Hiring Intentions "Sluggish"
- Monday Night Futures
- Jim the Realtor: Another Business Opportunity
- One Family: Option ARM, failed Modification, Health Issues, Bankruptcy, and more
- Comparing BLS Job Losses and DOL Unemployment Claims
- Profiles in Discouragement: Unemployed and Uncounted
- Survey: “The Anguish of Unemployment”
- Summary Post
- A Surge in Homeless Children
- G-20 Agrees on Increasing Capital Requirements
- Massachusetts: Workers Exhausting Unemployment Benefits
- When Will the Unemployment Rate hit 10%?
- Housing Starts and the Unemployment Rate
- Platinum and Taylor, Bean & Whitaker
- NY Times: One-sixth of Construction Loans in Trouble
- SEC Chairman Madoff? Corus and More
- Bank Failure #89: First State Bank, Flagstaff, AZ
- Bank Failure #88: Community Bank, Rolling Meadows, Illinois
- Bank Failures #86 & #87: InBank, Oak Forest, IL, Vantus Bank, Sioux City, IA
- Bank Failure #85: First Bank of Kansas City, Kansas City, MO
- Tax Credit: Mercury News Advocates Taxpayers pay $60 Thousand per Additional Home Sold
- Naught for Naughts Update
- Problem Bank List (Unofficial) Sep 4, 2009
- Employment-Population Ratio, Part Time Workers, Average Workweek
- Unemployment: Stress Tests, Unemployed over 26 Weeks, Diffusion Index
- Employment Report: 216K Jobs Lost, 9.7% Unemployment Rate
- FHA: The Next Bailout?
- Junk Bond Default Rate Passes 10 Percent
- Federal Reserve Assets and More
- Hilton to Close Portland Hotel for Four Weeks this Winter
- Hotel RevPAR off 22 Percent
- ISM Non-Manufacturing Index Shows Contraction in August
- Weekly Unemployment Claims: Stuck at High Level
- The Accidental Landlords and Shadow Inventory
- Gordon Brown's $1.1 Trillion G20 Consensus Unraveling
- Wilbur Ross: 500 More Banks to Fail by End of 2010
- Hotel: More than Half Off
- FOMC Minutes: Consumer Spending Softer than Expected
- ABI: Personal Bankruptcy Filings up 24 Percent compared to August 2008
- Other Employment Reports
- First Time Home Buyer NAR Numbers
- Cartoon and some Financial News
- Light Vehicle Sales 14.1 Million (SAAR) in August
- Houses and Autos: The Cost of a Tax Credit per Additional Units Sold
- Autos: Ford U.S. August sales rise 17%
- Construction Spending in July
- Pending Home Sales Increase in July
- Hotels: "A False Bottom in RevPAR?"
- Hope Now Mortgage Loss Mitigation Statistics
- Clunkers and August Auto Sales
August 2009
- CNBC: What Banks are doing with Foreclosures
- August Economic Summary in Graphs
- Fitch: Credit Card Default Chargeoffs decline Slightly in July
- Restaurants in July: 23rd Consecutive Month of Declining Traffic
- Chicago: A Renters' Market
- Shanghai Cliff Diving
- FDIC risks $80 Billion in Loss Share Agreements
- Econbrowser Shifts to Neutral
- Bankruptcy Filings and Mortgage Delinquencies by State
- Houses: Cash Buyer Percentages in Orlando, Tampa and Knoxville
- Article: "The HAMP Mirage"
- Quarterly Housing Starts and New Home Sales
- Failed Banks and the Deposit Insurance Fund
- Judge Stays FOIA Fed Ruling Pending Appeal
- Bank Failure #84: Affinity Bank, Ventura, California
- Bank Failure #83: Mainstreet Bank, Forest Lake, Minnesota
- Bank Failure #82: Bradford Bank, Baltimore, Maryland
- Misc: Cerberus, Flippers and Market
- Problem Bank List (Unofficial) Aug 28, 2009
- Unemployment and Net Jobs
- July PCE and Saving Rate
- Japan: Record Unemployment Rate
- Recession hitting Farms
- Kasriel: "The Rhyming of History – Bloomberg and the RFC?"
- Hotel RevPAR off 16.7 Percent
- Report: Car Sales Slump 11% Below June Levels
- FDIC Q2 Banking Profile: 416 Problem Banks, $3.7 Billion Net Loss
- Weekly Unemployment Claims: Still Very High
- Report: Mortgage Delinquencies increase in July
- New Hampshire: The Clunker State
- FDIC Lowers Qualifications for Failed Bank Acquisitions
- Misc: ARMs, Mortgage Fraud, End of Tax Credits, and more
- Truck Tonnage Index Increased 2.1 Percent in July
- Fed's Lockhart: "slow recovery" and "protracted period of high unemployment"
- Distressing Gap: Ratio of Existing to New Home Sales
- New Home Sales Increase in July
- MBA: Purchase Index Increases Slightly
- A comment on House Prices
- Will Mortgage Insurers Limit the Housing Market?
- Misc: A possible 1991 House Price Headline, and Falling Rents in NYC
- Case-Shiller House Prices and Stress Test Scenarios
- Philly Fed State Coincident Indicators: Still a Widespread Recession in July
- House Prices: Real Prices, Price-to-Rent, and Price-to-Income
- Case-Shiller House Price Index Increases in June
- FOIA: Court Orders Fed to Disclose Loan Program Details
- Banks to Raise more Tier 1 Capital
- Obama to Reappoint Bernanke
- Hotels: A "Perfect Storm" in San Francisco
- NY Fed: US Credit Conditions Map
- Misc: Long Hours at the FDIC, Foreclosures Movin' on Up!
- Comment on First-time Homebuyer Tax Credit
- Fitch: "Dramatic" Decrease in Cure Rates for Delinquent Mortgage Loans
- Chicago Fed: July National Activity Index
- Roubini Concerned about Double Dip Recession
- Bove sees 150-200 more bank failures
- Krugman: Economy in "Purgatory"
- Social Security: No Increase to 2010 Benefits or Maximum Contribution Base
- SFGate: First-Time Homebuyers Competing with Investors
- Daily Show: Good News / Bad News
- Krugman: Some call it recovery
- Inland Empire: "The gold mine was construction"
- Fed's Bullard: Rates to Stay Low Longer than Market Expects
- Failed Banks and the Deposit Insurance Fund
- Meredith Whitney: 300 Banks to Fail
- Bank Failure #81: Down Goes Guaranty
- Bank Failures: #79 & #80: CapitalSouth Bank, Birmingham, Alabama and First Coweta, Newnan, Georgia
- Bank Failure #78: ebank Atlanta, Georgia
- More on Existing Home Inventory
- Problem Bank List (Unofficial) Aug 21, 2009
- DataQuick: California Bay Area home sales hit 4-year high
- DOT: Vehicle Miles Increased in June
- Existing Home Sales increase in July
- Existing Home Sales and First-Time Buyers
- Guaranty Bank: OTS Closes the Barn Door
- CRE: ABI and Nonresidential Structure Investment
- U.S. Mortgage Market and Seriously Delinquent Loans by Type
- Hotel RevPAR off 16.2 percent
- FDIC: DIF Update, may soften Private Equity Rules
- MBA Forecasts Foreclosures to Peak at End of 2010
- MBA: Record 13.2 Percent of Mortgage Loans in Foreclosure or Delinquent in Q2
- Philly Fed: "Some signs of stabilizing"
- Weekly Unemployment Claims Increase, Workers Exhausting Extended Benefits
- UK: BofE Forecasts Suggests Recession is Over
- FDIC to Discuss Off-balance-sheet Risk-based Capital Guidelines next week
- Report: BBVA Submits Winning Bid for Guaranty Bank (Texas)
- Ouch. Colonial Left a Mark! (on Loans)
- Moody’s: CRE Prices Off 36 Percent from Peak, Off 1% in June
- Failed Bank List, Including Percent Losses
- Financial Reform: Don't hold your breath
- AIA: Architecture Billings Index shows Contraction in July
- New Appraisal Process Shifts Power
- Update on Bank Bids: Guaranty (Texas) and Corus
- Judge: Banker "Culture of Corruption" was "Pernicious and pervasive"
- Market, Autos and Misc
- DataQuick: SoCal Sales Increase, Some Activity in High End Areas
- Manhattan Office Buildings: Cap Rates More than Double
- Comparing Housing Start Recoveries
- Housing Starts Flat in July
- U.S. Population Distribution by Age, 1950 through 2050
- Recession Roommates
- Home Seller Motivations
- Report: Guaranty Bid Deadline Tomorrow, Corus Sept 3rd
- Fed: Delinquency Rates Surged in Q2 2009
- Fed: Lending Standards Tighten, Loan Demand Weakens
- NAHB: Builder Confidence Slightly Higher in August
- Shanghai Cliff Diving
- NY Fed: Empire State Manufacturing "Improved"
- Lowe's: 'Consumers Remain Cautious', Cuts Investment Plans
- Report: Guaranty Bank Bids Due Monday
- WSJ: Loss Rates for FDIC higher than during S&L Crisis
- Judge: WaMu's actions in Pushing for Foreclosure suggest "Bad Faith"
- Health Care Spending and PCE
- The Rentership Society
- Jim the Realtor: The $4 Million Gate
- Unemployed Workers Starting to Exhaust Extended Benefits
- LA Area Ports: Export Traffic Declines in July
- FDIC Bank Failure Update
- U.K. More Losses for Nationalized Buy-to-Let Lender
- Retailers Expect Slow Back-to-School Sales
- Bank Failures #75 - #77: Union Bank, National Association, Gilbert, AZ, Community Bank of Nevada, Las Vegas, NV, Community Bank of Arizona, Phoenix, A
- Hotel Owners Walking Away
- Bank Failure #74: Down Goes Colonial
- Bank Failure #73: Dwelling House Savings and Loan Association, Pittsburgh, Pennsylvania
- Market and Bank Watch
- Problem Bank List (Unofficial) Aug 14, 2009
- First-time Home Buyer Frenzy
- Report: BB&T to take Over Colonial Bancgroup
- Bank Failure Friday Articles
- Industrial Production, Capacity Utilization Increase in July
- CPI Flat, BLS Rent Measures Decline Slightly
- Judge Rules for BofA Against Colonial Bank, New Cease & Desist Disclosed
- Illinois Foreclosures: Increasing Again, Impacting 'more-affluent areas'
- American CoreLogic: More than 15.2 Million Mortgage Holders Underwater
- California to Stop Issuing IOUs a Month Early
- Hotel RevPAR off 16.5 Percent
- BofA Sues Colonial for $1 Billion
- Report: Record Foreclosure Activity in July
- Retail Sales Decline Slightly in July
- Weekly Unemployment Claims Increase
- Jim the Realtor: Investor Watch
- National Data: Distressed Sales and Types of Buyers
- California AG Cracks Down on Loan Modifiers
- FOMC Statement
- A little Fed Preview
- Distressed Sales and Financing: Sacramento as Example
- Trade Deficit Increases in June
- WSJ: JPMorgan Offering 23 Office Properties For Sale
- More Possible Bidders for Guaranty Bank
- Report: Record Number of California Foreclosures Scheduled For Sale
- Taylor Bean BK "Imminent"
- Draft Derivatives Bill Sent to Congress
- CBRE: Retail Cap Rates Increase Sharply in Q2
- Employment: Men, Women, Positions and People
- Congressional Oversight Panel Warns of Threat to Smaller Banks
- Hotel Industry Pulse Index Shows Slight Improvement in July
- WaPo: Ailing States Face Bleak Outlook
- Auto Sales and the Unemployment Rate
- New Market Graph
- New York Condo Shadow Inventory
- Freddie Mac: Taylor Bean Losses could be "Significant"
- Fed Poised to Halt Treasury Purchases Soon
- More on Corus Bank
- CRE: Large SoCal Office Building Owner to Walk Away
- Krugman: Reappoint Bernanke
- Research on Homeownership Rate through 2030
- Krugman: "Great free fall seems to be over"
- Housing Starts and the Unemployment Rate
- Jobs and the Unemployment Rate
- Another Apartment-to-Condo Conversion Disaster
- U.K. Record 33 Thousand People Declared Insolvent in Q2
- NODs Increasing, Foreclosures Decreasing
- Problem Bank List (Unofficial)
- Bank Failure #72: Community First Bank, Prineville, Oregon
- Bank Failures 70 & 71: First State Bank and Community National Bank of Sarasota County, Florida
- Freddie Mac: House Price Improvement "Largely Seasonal"
- Consumer Credit Declines in June
- Colonial BancGroup SEC Filing: Target of Criminal Investigation, Possible FDIC Seizure
- Employment-Population Ratio, Part Time Workers, Average Workweek
- Unemployment: Stress Tests, Unemployed over 26 Weeks, Diffusion Index
- Employment Report: 247K Jobs Lost, 9.4% Unemployment Rate
- Google Maps Shows Foreclosure Status
- Fannie Mae: $14.8 Billion Loss, Requests $10.7 Billion from Treasury
- Residential Investment Components in Q2
- Foreclosures: One Giant Wave, Still Building
- Hotel RevPAR off 15.5 Percent
- Q2: Office, Mall and Lodging Investment
- Weekly Unemployment Claims Fall to 550 Thousand
- More Cash for Clunkers
- WaPo: Good Bank, Bad Bank for Fannie and Freddie?
- Barry Gosin: State of Commercial Real Estate
- Negative Equity: 16 Million Homeowners Underwater
- WSJ: Taylor Bean to cease operations
- BRE Properties: Rents to Decline well into 2010
- P&G: Expect Sales Flat or Down 3% in Calendar Q3
- ISM Non-Manufacturing Index Shows Contraction in July
- Other Employment Reports
- Farmland Values Decline
- Resource: Failed Bank List with Enforcement Documents
- Taylor, Bean & Whitaker Suspended by FHA
- Jim the Realtor: A CRE Foreclosure Cornucopia
- Setser takes post with National Economic Council
- Consumer Products: "No trend of increasing orders"
- Homebuilder D.R. Horton: Good News, Bad News
- ABI: Personal Bankruptcy Filings up 34.3 Percent compared to July 2008
- NMHC Quarterly Apartment Survey: Occupancy Continues to Decline, but Pace Slows
- Pending Home Sales Index Increases in June
- June PCE and Personal Saving
- Jim the Realtor: Prices falling at the high end
- Market and Credit Indicators
- FDIC Urges Timely Recognition of Home-Equity Loan Losses
- Light Vehicle Sales Over 11 Million (SAAR) in July
- U.S. Raids Colonial Bank Office
- Barclays Analysts: House Prices Still Falling
- Ford: July sales increase 2.3 Percent Compared to July 2008
- Construction Spending Increases Slightly in June
- ISM Manufacturing Shows Contraction in July
- UK Manufacturing in July: First Increase in 16 Months
- Housing: Slow sales at the High End
- Investors Buying Low End Foreclosures
- July Economic Summary in Graphs
- Shadow Inventory
- Quote about Corus: "No franchise value to the bank at all"
- Geithner: Administration Looking at Further Extensions for Unemployment Benefits
- Real Declines in GDP
- Tiered House Prices for Several Cities
- Unemployment: 1.5 Million Workers will Exhaust Extended Benefits by end of 2009
- CRE Report: U.S. Postal Service Might Consolidate up to 14 million Square Feet
- FDIC Bank Failure Update
- Late Night Financial Advice
- Colonial Deal Collapses, Expresses Substantial Doubt as Going Concern
- Bank Failure #69 in 2009: Mutual Bank, Harvey, Illinois
July 2009
- Bank Failures 65 through 68
- Market Mishmash
- More Cash for More Clunkers
- Corus Bank "Critically undercapitalized"
- Restaurants: 22nd Consecutive Month of Traffic Declines in June
- The Investment Slump in Q2
- Real GDP declines 1.0 Percent in Q2
- CRE: Another Half Off Sale
- Auto: Cash-for-Clunkers to be Suspended
- Unemployed Over 26 Weeks
- Daily Show, A Lonely Condo Owner and the Market
- Hope Now: Mortgage Loss Mitigation Statistics
- Regulator: GSEs Unlikely to Fully Repay Bailout
- Minnesota: Lenders Gone Wild
- Hotel RevPAR Off 16.3 Percent YoY
- Weekly Unemployment Claims
- Jim the Realtor does CRE
- WSJ: FDIC to Split Failed Banks Hoping to find Buyers
- Report: June Surge in Lender Repossessions in Seattle, Las Vegas and Phoenix
- The Return of Cram-Downs, Condo Reconversions and More
- Fed's Beige Book: "Economic activity continued to be weak" in Summer
- Fed's Dudley: Recovery to be "Lackluster"
- A Comment on Seasonal Adjustments
- More Happy House Price News
- Government Pushes Loan Mods
- Study: Using Home ATM Led to Most Foreclosures in SoCal
- Zell on Real Estate
- A Few Comments on Housing Reports
- CRE: Office Building Owners Walk Away
- Fed's Yellen: Outlook for the U.S. Economy and Community Banks
- Case-Shiller House Price Seasonal Adjustment and Comparison to Stress Tests
- Case-Shiller Prices Fall in May Seasonally Adjusted
- Case-Shiller House Prices for May
- WaPo: Foreclosures Frequently Best Alternative for Lenders
- Truck Tonnage Index Declined 2.4 Percent in June
- "Precipitous" House Price Declines at the High End
- Option ARMs: Good News, Bad News
- Housing: Remember the Two Bottoms!
- Report: 5000+ CRE NODs in March
- Distressing Gap: Ratio of Existing to New Home Sales
- New Home Sales increase in June, Highest since November 2008
- San Diego: High-Rise Condos Sit Vacant
- Merle Hazard Video: Bailout
- Herald Tribune: Lenders Ignored Mortgage Fraud Red Flags
- Economy: A Little Sunshine
- Credit Card Debtors "Embracing the Darkness of Default"
- The Bernanke ReappointmentTour
- California Budget: Good until the next drop in Revenue
- New Home Sales, Single Family Starts and Housing Market Index
- Growth Forecasts after the Great Recession
- The Taylor Rule Debate
- 'Cash for Clunkers' Rules Released
- Video: Warren Buffett On CIT
- Bank Failures 59 through 64: Six Bank Subsidiaries of Security Bank Corporation, Macon, Georgia
- Bank Failure #58: Waterford Village Bank, Clarence, New York
- Market and Bank Watch
- Double Up to Catch Up!
- The Surge in Rental Units
- Q2: Homeowner Vacancy Rate Declines, Rental Vacancy Rate at Record High
- Guaranty Financial: Probably "Not be able to continue as a going concern"
- California Budget: Misery Loves Company
- More on Foreclosure Modification Scams
- Report: Corus Bank may be Seized by early August
- More on Banning ‘Naked’ CDS
- Bloomberg's Weil on Proposed New FASB Mark-to-Market Initiative
- Real Estate: Commercial and Residential Prices
- Hotel RevPAR Off 17.5% YoY
- More on Existing Home Inventory
- Existing Home Sales increase in June
- UPS Comments: Sitting at Bottom, No Improvement to date in Q3
- Weekly Unemployment Claims
- Lawler on Sticky House Prices
- Report: CIT Advisers Pushing for BK after August Swap
- S&P Increases Forecast for Subprime Mortgage Losses - Again!
- Stock Market
- DataQuick: California Mortgage Defaults Edge Down in Q2
- Bernanke: CRE May Pose Risk
- PBGC To Assume Delphi Pension Plans
- Herald Tribune: Flipping Fraud Ignored
- MBA: Mortgage Rates Increased Last Week
- AIA: Architecture Billings Index Declines in June
- CRE Developer: "We’re dumbfounded"
- Mortgage Fraud in Florida
- Apple Conference Call Comments
- Bill to Ban Naked CDS, CIT Terms and Market
- Elizabeth Warren on Consumer Financial Product Agency
- Feldstein: Risk of Double Dip
- Philly Fed State Coincident Indicators: Widespread Recession in June
- CIT: More than $1.5 billion in losses, No FDIC Guaranteed Debt
- Bernanke Testimony at 10AM ET
- Bernanke: The Fed’s Exit Strategy
- Retail Space: Vacant in Manhattan
- California Budget Deal Reached
- More CIT News
- TXN Conference Call
- Roubini: Slow Recovery, Double Dip Recession Possible
- DOT: Vehicle Miles Flat YoY
- Moody's: Inadequate Loan Loss Provisions for Banks
- Fed's Lockhart sees Weak Recovery, Exit Strategy not needed for "some time"
- Moody's: CRE Prices Off 7.6% In May
- Conference Board Indicators Increase in June
- CRE Losses Piling Up
- Mortgages to Mods: Getting them coming and going
- More on CIT Deal
- WSJ: CIT Cuts Deal with Bondholders, No Bankrutpcy
- Office Space: Negative Absorption and New Construction
- FDIC Bank Failures: Update
- CIT Watch
- CRE Broker: "Insult me with an offer"
- Housing Starts: A Little Bit of Good News
- Ritholtz: "Why are people calling a bottom for Real Estate?"
- Slip Sliding Sideways
- Jim the Realtor on High Rise Condo Project
- "The Money Game"
- Bank Failures #56 & #57: Temecula Valley Bank, Temecula, CA and Vineyard Bank, Rancho Cucamonga, CA
- Report: Record Drop in State Tax Revenues
- Bank Failure #55: BankFirst, Sioux Falls, South Dakota
- Bank Failure #54: First Piedmont Bank, Winder, Georgia
- Market, State Unemployment, Fed Balance Sheet
- Report: CIT in Talks for DIP Financing
- Hotel RevPAR off 18.4%
- States: More Record Unemployment Rates in June
- GE Conference Call Comments
- Housing Starts increase in June from May
- Bloomberg: Regulators Poised to Seize Corus
- Daily Show: Financial Guru?
- Housing: Sticky Prices
- Senator: FDIC's Bair says 500 Banks Could Fail
- LA Area Port Traffic in June
- Market Precis and More News
- Report: CIT Bondholders Considering Debt for Equity Swap
- DataQuick: California Bay Area home sales Increase
- NAHB: Builder Confidence Increases Slightly In July
- More JPM Comments on Modifications and Foreclosures
- Philly Fed: "Region's manufacturing still experiencing weakness"
- JPM's Dimon: CRE "Big deal for regional banks"
- Report: Record Foreclosure Activity in First Half
- Weekly Unemployment Claims Decline Sharply
- BofA: Double Secret Probation
- Report: California Close to Budget Deal
- CIT: Government Support Unlikely
- DataQuick: SoCal Homes Sales Up
- Stock Market Update
- Trading Halted on CIT
- Show me the Engines of Growth
- FOMC Minutes: Immaculate Recovery
- Is the Recession Over?
- Industrial Production Declines, Capacity Utilization at Record Low in June
- CPI up 0.7%; Core CPI up 0.2%
- MBA: Refinance Applications Increase as Mortgage Rates Decline
- Futures and Elizabeth Warren on Consumer Financial Protection
- Report: CIT Aid Package "working on details"
- CRE: Higher Vacancy Rates, Lower Rents in San Diego, Orange County and Las Vegas
- Manhattan Office Vacancy Rate Increases, Effective Rents off 44%
- As Foreclosure Activity Surges, Obama Considers Rental Option
- S&P Cuts Ratings on CMBS
- Obama: Unemployment Rate will "tick up for several months"
- More Inventory Correction
- Retail Sales in June
- Report: Private-Equity Firms Bidding for Corus Assets
- Appraisal Update
- NY Magazine: The Billyburg Bust
- Market and Credit Indicators
- Report: Option ARMs Performing Worse than Subprime
- Shiller on Housing
- Government loses £10.9 Billion in RBS and Lloyds
- Sunday Night Futures and a little Humor
- Second Stimulus Debate: Geithner vs. Krugman and Delong
- Lenders Walking Away
- Selected GDP Forecasts
- Report: Lloyds to writeoff up to £13bn
- Wells Fargo Sues Wells Fargo, Wells Fargo Denies Allegations
- Researchers: "Few Preventable Foreclosures"
- Unemployment and GDP
- California IOU Update
- Roubini and Shiller on U.S. Economy
- CIT Hires Bankruptcy Adviser
- Sacramento: 70 Percent Distressed Sales in June
- Bank Failure #53: Bank of Wyoming, Thermopolis, Wyoming
- Short Sellers Beware
- FDIC Bank Failures, Fed Assets and the Market
- Reich: "When Will The Recovery Begin? Never."
- Mortgage Pig Wear: Email Corrected
- "Substantial Doubt" Initial Filings
- University of Michigan Consumer Sentiment
- GM Emerges from Bankruptcy, Press Conferenace at 9 AM ET
- Trade Deficit Declined in May
- White House Pleads for more Mortgage Mods
- Missing the Point on Stated Income Loans
- Report: FDIC Unwilling to Back CIT Debt
- Condo Association Files Bankruptcy
- Treasury Working on 'Plan C'
- Charity: Mortgage Pig Wear Closeout
- Hotel RevPAR off 13%
- Lawmaker: "The CRE time bomb is ticking"
- Property Taxes Fall in California
- Weekly Unemployment Claims Decline, Record Continuing Claims
- Depression Era Unemployment Rate
- Reis: Strip Mall Vacancy Rate Hits 10%, Highest Since 1992
- More Mortgage Fraud
- PPIP Update
- AmEx CEO: Some Stabilization, Hopes for Recovery in 2nd Half of 2010
- Consumer Credit Declines in May
- Chicago Fed's Evans: Recession to end in 2nd Half
- FBI: U.S. Mortgage Fraud "Rampant" and "Escalating"
- MBA: Mortgage Refinance Activity Up from Recent Lows
- Apartment Vacancy Rate at 22 Year High
- More Evidence of the "Foreclosure Backlog"
- CNBC Interview with Bryan Marsal, CEO of Lehman Brothers Holdings
- CRE: Another Half Off Sale and Market
- Office Vacancy Rate and Unemployment
- Hotel Recession Reaches 20 Months
- Banks Will Stop Accepting California IOUs Friday
- ABA: Record Home-Equity Loan Delinquencies
- Bank Failures and Trust-preferred securities
- Reis: U.S. Office Vacancy Rate Hits 15.9% in Q2
- D.C. Office Market: Vacancies Increase, Rents Fall
- CRE: Half Off Sale in San Francisco and More
- S&P Increases Loss Estimates for Alt-A and Subprime RMBS
- Fitch Downgrades Calif. long-term bond rating to 'BBB'
- The Booming Repo Business
- TALF CMBS Update
- ISM Non-Manufacturing Index Shows Contraction in June
- GM Bankruptcy Plan Approved
- Loan Mod Frauds
- Gordon Brown Sounds "Second-wake up call for the world economy"
- A Second Stimulus Plan?
- Unemployment Rate and Part Time Employees
- Offices: Rising Vacancies, Falling Rents
- Apartment Rents Decline in Los Angeles
- Report: Subprime and Alt-A Loss Severity Hits 64.7% in June
- Homer Economicus
- FDIC Bank Closure from the Acquirer's Perspective
- NY Times: 'Tax Bill Appeals'
- LA Times: 'Another wave of foreclosures'
- Failed Banks and Brokered Deposits
- Songs for the New Depression*
- One Year Ago: Oil Prices Peaked at $145 per Barrel
- U.K.: Britons Pay Down Mortgage Debt in Q1
- FDIC Bank Failures by Week
- SEC may Reinstate Uptick Rule for Short Selling
- The Krugman Blues
- Another Involuntary Landlord and Summary
- Bank Failure #52, 7th Today, Founders Bank, Worth, Illinois
- Three More Bank Failures: #49, #50, #51
- Three More Bank Failures: #46, #47, #48
- Naught for the Naughts?
- Personal Bankruptcy Filings increase 40% in June (YoY)
- FDIC on Private Equity Acquisitions of Failed Banks
- Hotel RevPAR off 17.4%
- Employment-Population Ratio, Part Time Workers, Hours Worked
- Unemployment: Stress Test Scenarios, Diffusion Index, Weekly Claims
- Employment Report: 467K Jobs Lost, 9.5% Unemployment Rate
- A Busy Day
- Fed Letter: Should U.S. Bailout States?
- Graphs: Auto Sales in June
- California IOU Update
- General Motors June sales fell 33.6% YoY
- Report: As many as One in Five U.S. hotels may default
- Ford June U.S. light vehicle sales down 11% YOY
- NAR: Pending Home Sales Index Increases Slightly
- Constructon Spending Declines in May
- ISM Manufacturing Shows Contraction in June
- Employment: ADP, Challenger, Monster
- MBA: Mortgage Refinance Applications Off 30%
- Unemployment Forecast: Too Much "Hope"
- SF Fed President Yellen on the Economy
June 2009
- June Economic Summary in Graphs
- Modifications and Re-Default
- House Prices: The Long Tail
- California: 14 hours and counting to IOUs
- OCC and OTS: Prime Delinquencies Surge in Q1
- Restaurants: 21st Consecutive Month of Traffic Declines
- Case-Shiller House Prices and Stress Test Scenarios
- Case-Shiller: House Prices Fall in April
- States: More Little Hoovers
- Auto Sales Expected to be near 10 Million SAAR in June
- Guaranty Financial: Last Hope is FDIC
- More on the Fifty Herbert Hoovers
- FirstFed and Option ARMs "Last One Standing"
- A comment on Fed Chairman Ben Bernanke
- Fed's Rosengren on Macroprudential Oversight
- Romer: Big Stimulus Impact Starts Now
- Freddie Mac June Investor Presentation
- BIS: Toxic Assets Still a Threat
- How many Homeowners Sold to Rent at the Peak?
- The Revenge of the Renters
- Scientific American: Bubbles and Busts
- Boom Time: Personal Bankruptcies in SoCal
- Foreclosure Auction Bidding Wars
- Freddie Mac Delinquencies and Unemployment Rate
- New GM Agrees to Assume Future Product Liability Claims
- Report: Hotel Values off 50% to 80% from Peak
- New Research on Walking Away
- Norris on New and Existing Home Sales
- Gordon Brown as Susan Boyle
- Bank Failure #45: Mirae Bank, California Fails
- Truck Tonnage Index Increased in May, Off 11% from May 2008
- Bank Failures #43 & #44: MetroPacific Bank, Irvine, CA, Horizon Bank, Pine City, Minnesota
- Bank Failure #42: Neighborhood Community Bank, Newnan, Georgia
- Bank Failure #41: Community Bank of West Georgia, Villa Rica, Georgia
- JPMorgan, Citi Expanding Jumbo Lending
- Freddie Mac: Portfolio Shrinks, Delinquencies Rise
- FDIC: 104 Cease and Desist Orders through May
- NY Fed and AIG Deal
- Personal Income and Outlays Boosted by Stimulus
- Song Parody: "Where Credit is Due"
- The Leveraged Loan "Wall of Worry"
- CRE: Office Building sold in Denver
- House Committee on Oversight Releases BofA Merrill Documents
- Market and LO Quiz
- New BankUnited CEO John Kanas: No Green Shoots
- Hotel RevPAR off 20.5 Percent
- Fed Extends Some Emergency Lending Facilities, Trims Others
- WSJ Real Time Economics: Housing Bubble and Consumer Spending
- Bernanke to Testify on BofA and Merrill Lynch at 10 AM ET
- Initial Unemployment Claims Increase
- CRE and Residential RE Prices
- More on the New and Existing Homes Sales Gap
- BofE Mervyn King: U.K. Recovery may be "long, hard slog"
- Appraisals
- Report: Record Credit Card Charge-offs
- FOMC Statement
- Shadow Housing Inventory: Walked Away, but Lender Hasn't Foreclosed
- Distressing Gap: Ratio of Existing to New Home Sales
- New Home Sales: Record Low for May
- American Institute of Architects: Recovery has stalled
- MBA: Mortgage Rates Decrease Slightly
- Housing Bust and Mobility
- Martin Wolf on Finanical Reform and Incentives
- Another Hotel Defaults on Mortgage Debt
- Misleading House Price Data
- S&P Downgrades Prime Jumbo MBS
- Philly Fed State Coincident Indicators: Widespread Recession
- Existing Home Sales Graphs
- Existing Home Sales in May
- The Next Fed Chairman? And 1930 ...
- Fed Meeting Tuesday and Wednesday
- For Returning Visitors: A Few Posts from the Missing Days
- "A number of banks" Suspend TARP Dividends
- CRE: Chicago Eyesore
- White House Expects 10% Unemployment Soon, and Stock Market
- Moody's: CRE Prices Fall 8.6% in April
- Harvard on Housing 2005
- Harvard: 2009 State of the Nation’s Housing Report
- The Housing Wealth Effect?
- Problematic Foreclosure Data
- World Bank: Recovery to be "Subdued"
- FedCASH: "No Credit Needed"
- LA, NY, San Francisco, Boston, Seattle, Detroit: Real Prices and the Unemployment Rate
- Miami, Chicago, Dallas: Real House Prices and Unemployment Rate
- House Prices and the Unemployment Rate, Washington D.C.
- Record Bonuses on tap for Goldman Staff
- The Onion: US To Trade Gold Reserves For Cash
- NY Times: Treasury and Bill Gross
- House Prices and the Unemployment Rate
- Popular Google Product Suffers Major Disruption
- Book Review: The Greenspan Problem
- California Foreclosure Prevention Act: Many Lenders Exempt
- GE Vice Chairman: No Green Shoots
- More GM Bankruptcy
- Bank Failure #40: First National Bank of Anthony, Anthony, KS
- Bank Failures 38 & 39: Southern Community Bank, Fayetteville, Georgia and Cooperative Bank, Wilmington, North Carolina
- California Mortgage Loan Data by Product and Type
- California Survey of Loan Servicers Q1
- FHFA Director: May Expand Loan Refinance to 125 Percent LTV
- Record Unemployment Rates in Eight States
- Office Buildings: 50 Percent Off in London
- FDIC's Bair: 'Too Big to Fail' must end
- Coldwell Banker CEO: "Move-up buyers absent"
- DataQuick: California Bay Area Home Sales Increase
- Corus Bank Faces Deadline Today
- Blogger Redirect Error
- DOT: U.S. Vehicles Miles increase YoY in April
- Those $134 Billion in Fake Bearer Bonds
- Hotel RevPAR off 18.6 Percent
- Owners' Equivalent Rent Correction
- More on State Income Taxes
- Philly Fed: Manufacturing Sector Declines Slow "Dramatically"
- Weekly Unemployment Claims
- Report: State Personal Income Tax Cliff Diving
- Report: Risk Concentration, Lax Oversight, Brought Down Downey
- BofE's Mervyn King : No Bank should be too big to fail
- Nine Banks Repay $66.3 Billion in TARP Funds
- DataQuick: SoCal Home Sales Increase
- The Obama Regulatory Reform Plan
- UCLA Forecast: Weakest Recovery of Post War Era
- Owners' Equivalent Rent
- CPI Increases Slightly, Off 1.3% in Past Year
- MBA: Mortgage Applications Decrease
- Obama Administration Releases Details of Proposed Financial Regulatory Overhaul
- The Accidental Slumlord
- Cramer Gets Confused on Housing
- Jim the Realtor: Tour of Shadow Inventory
- Stock Market Update
- Tiered House Prices
- JPMorgan Analysts Predict 60% House Price Decline for High End
- $13.9 Trillion Total Maximum Government Support Announced
- U.S. Rejects California Aid Request
- Industrial Production Declines, Capacity Utilization at Record Low
- Housing Starts May
- Credit Card Debt: "A line has been crossed"
- Federal Reserve Appears to be Big Loser in Extended Stay Bankruptcy
- WSJ: Major Banks Try to Block MBIA Split
- Green Shoots Artwork
- LA Area Port Traffic in May
- Record Credit Card Default Rate
- NAHB: Builder Confidence Decreases Slightly in June
- Fitch: U.S. CMBS Delinquencies Past 2%
- Extended Stay Hotels Files Bankruptcy
- Empire State Manufacturing "Conditions continued to deteriorate"
- Krugman: Stay the Course
- Office Building Sells at 40% Below Construction Costs
- Mall Space
- Construction Employment in the Inland Empire
- Krugman: "Risk for long stagnation is really high"
- Cartoon: Another 30 Percent
- Geithner: "Economic storm receding"
- Cities Downsize to Survive
- Fitch Expects Home Prices to Fall through 2nd Half of 2010
- Study: Home Equity Borrowers in Danger
- Senatorial Splendor
- FDIC's Bair: Banking Crisis Not Over
- BFF and Market
- Setser: Who bought all the recently issued Treasuries?
- Credit Indicators
- University of Michigan Consumer Sentiment
- UK: One in Ten Homeowners with Negative Equity
- NY Times: U.S. Better Off than Europe
- Hamilton on CDS Trade: "A fool and his money ..."
- Households with Mortgages: Approximately 20 Percent Equity
- Hotel RevPAR off 22.9 Percent
- CRE "Partial Interest Only Loans" Coming Due
- Fed: Household Net Worth Off $14 Trillion
- Option ARMs: Paying $98 a month on a $350 Thousand Mortgage
- Retail Sales in May: Off 10.8% from May 2008
- Unemployment Claims: Record 6.8 Million Continued Claims
- RealtyTrac: Foreclosure Activity May Hit 1.8 Million by Mid-Year
- Changes, Comments, Summary, Calendar for Thursday
- Update: What is a Depression?
- California State Controller: Out of Cash in 50 Days
- AIG New York Building Sell for Under $100 per Square Foot
- Fed's Beige Book: "Economic conditions remained weak or deteriorated further"
- Mortgage Rates and the Ten Year Yield
- WSJ: Relief for CRE Debt?
- Trade Deficit Increases Slightly in April
- MBA: Mortgage Rates Increase, Refinance Applications Decline
- Inland SoCal: House Prices at 20 Year Low
- Late Night Futures
- CRE Mortgage Servicers Seek up to 5 Year Extensions
- Supreme Court Lifts Stay on Chrysler Deal
- Chrysler Updates
- Aggregate Hours and Market
- Weak Hiring and the Jobless Recovery
- Commercial Mortgage Defaults Seen Rising to 17 Year High
- Treasury: Ten Large Banks can Repay $68 Billion in TARP Funds
- TARP Panel Chair Suggests Running Stress Tests Again
- TARP Repayment Announcement on Tuesday
- More New Vacant Condos
- Supreme Court temporarily blocks Chrysler deal
- Fed: Big Bank Capital Plans are Sufficient
- Krugman: Recession May End this Summer
- Fed Letter: "Jobless Recovery Redux?"
- Hotel Recession Reaches 19 months
- Chicago's Magnificent Mile Vacancy Rate Highest Since 1992
- Large Banks: TARP Repayment, Capital Raising, Management Review
- Report: Administration to Propose More Oversight of Compensation
- Hotel Owner "Walking Away"
- Jobs and the Unemployment Rate
- The Psychology of Short Sales by Tanta, April 2008
- Does Education Pay?
- Foreclosures and the Home ATM
- Unemployment Rate and Level of Education
- Consumer Bankruptcy Filings up Sharply
- TARP Repayments may exceed $50 Billion
- This American Life on the Rating Agencies
- Courts Affirms Chrysler Sale
- Bank Failure #37: Bank of Lincolnwood, Lincolnwood, Illinois
- Miscellaneous: Market and Bank Failure
- Consumer Credit Declines at 7% Annual Rate in April
- Employment-Population Ratio and Part Time Workers
- Rising Rates: The Next Fed Meeting Will be Interesting
- Unemployment Compared to Stress Test Scenarios, and Diffusion Index
- Employment Report: 345K Jobs Lost, 9.4% Unemployment Rate
- Mish Speaks at Google
- S&P on CMBS: Potential Downgrades from AAA to A
- NY Fed President on PPIP
- Record High Yield Curve, Rising Mortgage Rates
- Report: SEC to Charge Angelo Mozilo with Insider Trading
- Hotel Occupancy Rate Falls to 51.6%
- Report: Investors Seeking to Buy Assets of Corus
- Unemployment Claims: 621 Thousand
- Daily Show: The BiG Mess
- FDIC PPIP LLP DOA? Part II
- Hotels: "By the numbers"
- Fed's Hoenig Calls for Rate Hikes
- Home ATM Cartoon
- May ISM Non-Manufacturing Index Shows Slower Contraction
- Bernanke testifies before the House Budget Committee at 10 AM ET
- MBA: Mortgage Rates Increase Sharply, Refinance Applications Decline
- ADP Shows Private Employment Decreased 532,000 in May
- Foreclosures and the Home ATM
- TARP: Looking for the Exit
- Homebuilder Cancellation Rate
- Graphs: Auto Sales in May
- GM May U.S. vehicle sales off 29%, Toyota off 40.7%
- Ford Sales Off 24.2% in May
- Pending Home Sales Index Increases
- NY Times: Foreclosures: No End in Sight
- Late Night Futures
- GM News
- Property tax relief in Los Angeles
- Fed Outlines TARP Repayment Rules
- Stock Market Update
- More on Consumption in April
- Construction Spending in April
- ISM Manufacturing Shows Contraction in May
- Consumption Down, Saving Rate Increases in April
- Jim the Realtor: Check out this Backyard!
May 2009
- GM to file Bankruptcy Monday Morning
- Alt-A Foreclosures in Sonoma
- NY Times: The Fall of the Mall
- GM Bondholders Agree to Debt-for-Equity, Hummer Sale Near
- Report: GM Bankruptcy on Monday
- May Economic Summary in Graphs
- U.K.: FSA Aware of Northern Rock Risks in 2004
- CRE: See-Through Buildings on the Beltway
- U.S. Treasury Estimate: Five Years to Recover $50 Billion GM Outlay
- Rite Aid and CRE
- Restaurant Performance Index Improves in April
- Market and FDIC Insured Banks with High NPAs
- Hotel Occupancy: RevPAR Off 19.4%
- More on S&P and Possible CMBS Downgrades
- Philly Fed State Coincident Indexes
- Home Sales Ratio: Existing to New
- Tim Duy: "A Return to a Nasty External Dynamic?"
- The U.K Stress Test Scenario
- Report: $75 billion of CMBS Market Capitalization Lost in Two Days
- Report: GM to File Bankruptcy Monday
- ATA Truck Tonnage Index Declines 2.2 Percent in April
- Berkshire Hathaway's Sokol: "No Green Shoots"
- New Home Sales: The Distressing Gap
- MBA: Mortgage Delinquencies, Foreclosures Hit Records
- New Home Sales Flat in April
- Unemployment Claims: Continued Claims at Record 6.79 Million
- Government Considers Single Banking Regulator
- FDIC PPIP LLP DOA?
- Record High Yield Curve
- Market and GM
- Mortgage Rates: Moving Higher
- More on Existing Home Sales and Inventory
- U.S. ‘Problem’ Banks Highest Since 1994
- Existing Home Sales in April
- MBA: Purchase Application Index Flat
- Banks Lobby to Game PPIP
- The Dearth of Move Up Buyers
- Two-Thirds Off on Manhattan Office Space
- Potential S&P CMBS Downgrades
- Revisiting the JPMorgan / WaMu Acquisition
- GM Closer to Bankruptcy
- Chicago Fed: April National Activity Index
- House Prices: Real Prices, Price-to-Rent, and Price-to-Income
- Case-Shiller: House Prices Tracking More Adverse Scenario
- Case-Shiller: Prices Fall Sharply in March
- Monday Night Futures
- Housing: More problems ahead for the low end?
- GM Bondholders watching Chrysler Bankruptcy
- Krugman: World economy stabilising
- Foreclosures and Mosquito Hunters
- Real Estate Agents Giving Up
- Late Night Cranes
- NY Times: We're All Subprime Now!
- Geithner Blames Borrowers and more, but not Regulators for Bubble
- Lost Vegas
- House Price Round Trip
- Jim the Realtor: Crack House
- Fed Vice Chairman Kohn on Economy
- The Phoenix Housing Boom
- Agricultural Land Prices Decline Sharply in Q1
- Shiller: Possible Double Dip Recession in U.K.
- FDIC Bank Failures: By the Numbers
- Bank Failure #36: Citizens National Bank, Macomb, Illinois
- Bank Failure #35: Strategic Capital Bank, Champaign , Illinois
- Bernanke: "What have I done?"
- The Oil Cushion: Getting Smaller
- Mortgage Pig Wear for Charity is Back!
- Credit Crisis Indicators
- WSJ: Ghost Malls
- WaPo: Auto Bankruptcies Next Week: GM in, Chrysler out
- CRE Bust: UK Style
- San Diego House Sales: Divergent Markets
- Bank Failure #34: BankUnited, Coral Gables, Florida
- Market and CAMELS
- California Bay Area Home Sales: "Robust" and "Anemic"
- Hotel RevPAR Off 21.4% Year-over-year
- Philly Fed: Continued Manufacturing Weakness in May
- Unemployment Claims: Continued Claims at Record 6.66 Million
- Report: BofA Wants to Repay TARP in 2009
- Residential Rental Market and Inflation
- Pension Benefit Guaranty Corporation Deficit Increases
- Market Précis
- FOMC Minutes for April
- D.O.T.: U.S. Vehicle Miles off 1.2% YoY in March
- Geithner: PPIP to Start by Early July
- New Mortgage Loan Reset / Recast Chart
- Architecture Billings Index Steady in April
- GMAC to Receive $7.5 Billion from Treasury
- Japan’s GDP Declines at 15.2% Annual Rate
- Home Depot on Housing Market
- Median Price Mix Example
- Market and GM Update
- SoCal House Sales: "Hot Inland, Cool on Coast"
- Fed Announces TALF for Legacy CMBS
- TARP Repayment Restrictions
- Quarterly Housing Starts and New Home Sales
- FDIC Receives Bids for BankUnited
- Housing Starts at Record Low in April
- Credit Card Changes: Make the Prudent Pay
- WSJ: Small Banks Face $100 Billion in CRE Losses
- Fed: Delinquency Rates Surged in Q1 2009
- Report: Goldman, Morgan Stanley, JPMorgan to Repay TARP
- FASB Rule Change for Qualifying Special Purpose Entities
- NAHB: Builder Confidence Increases in May
- Three Month Dollar LIBOR Falls to 79 basis points
- Foreclosure Resales: Slow in High Priced Areas
- Lowe's: "Pressures on consumers remain intense"
- Sunday Night Futures
- Report: Smaller U.S. Banks need $24 Billion in Capital
- Tanta's Bench and Charity Update
- Orszag: "Freefall in the economy seems to have stopped"
- San Francisco Housing: Problems at the High End
- Paging Geraldo!
- Blinder worried about a repeat of 1936
- Sovereign Bancorp Losses
- U.K.: Home repossessions up
- Roubini on CNBC: "Yellow weeds"
- Residential Investment Components
- Market, GM and TARP Repayment
- CNBC: Record Credit Card Defaults in April
- LA Area Port Traffic
- House Price Puzzle: Mid-to-High End
- FDIC's Bair: Some Bank CEOs will be Replaced
- Industrial Production Declines, now 16% Below Peak
- Empire State Manufacturing Survey: Conditions worsened modestly in May
- NY Times Norris on Pick-a-pay Loans
- Trucking Company to Apply for Bailout
- WaPo: Treasury Approves TARP for Insurance Companies
- NY Times Economics Reporter: "My Personal Credit Crisis"
- An Interview with Charlie Munger
- Zillow: High Percentage of Homeowners Waiting for a Market Turnaround
- Hotel Recession Reaches 18 months, RevPAR off 22.4%
- BankUnited Deadline Extended
- MBA: Commercial/Multifamily Mortgage Loan Originations Decline in Q1
- Unemployment Claims: Continued Claims Surge Past 6.5 Million
- Summary, Futures and the Tan Man
- MEW, Consumption and Personal Saving Rate
- William Seidman
- Regulatory Reform for Derivatives
- Market Update
- Geithner to Announce Tougher Derivatives Rules at 4 PM ET
- "Green Shoots Wilting"
- Update on Inventory Correction
- LA Times: Sour CRE Loans
- Retail Sales Decline in April
- RealtyTrac: Record Foreclosure Activity in April
- BKUNA Needs $1 Billion in Capital
- Freddie Mac: Falling Prices "significantly affecting behavior" of Borrowers
- Can't Sell? Try Renting
- Immaculate Recovery?
- Home Sales: One and Done
- Advanta Halts New Credit-Card Lending
- U.S. March Trade Deficit: $27.6 billion
- Vacant Retail Space: Advertising Bonanza!
- Foreclosures in the 'Burbs
- Bernanke Speech at 7:30 PM ET
- Meredith Whitney on CNBC
- The Mega-Bear Quartet
- OECD: Global Economy at "inflection point", U.S. Still in "strong slowdown"
- The Impact of Changes in the Saving Rate on PCE
- GM: Bankruptcy "More Probable"
- Krugman Warns of Lost Decade
- Sunday Night Futures
- A Return to Trend Growth in 2010?
- NY Times: Falling Apartment Rents in Manhattan
- SNL: Geithner Cold Open
- Report: Banks Can Reduce Capital Needs if Profits Higher
- More Foreclosure Auction Video
- The Race: Future Earnings vs. Writedowns
- NY Times on Saving Rate
- Saturday Morning Summary
- Bank Failure #33: Westsound Bank, Bremerton, Washington
- WSJ Report: Banks Negotiated Concessions on Stress Tests
- Loan Reset / Recast Schedule
- FDIC to Open Temporary Florida Office
- Mothballed Condo Project in Irvine, CA
- Fannie Mae Asks for another $19 Billion
- Chrysler: Only Three Holdout Creditors Remain
- Employment: Comparing Recessions and Diffusion Index
- Employment Report: 539K Jobs Lost, 8.9% Unemployment Rate
- Even More on Stress Tests
- Mortgage Rates and the Ten Year Treasury Yield
- More Stress Test
- Fed Releases Stress Test Results
- State Street: No Capital Needed
- Commercial Mortgage Delinquencies Increase Sharply
- Hotel RevPAR in Q1: "Worst year-over-year decline in History"
- Bernanke on Lessons Learned for Bank Supervision
- Weekly Unemployment Claims Decline; Record Continued Claims
- Government: Stress Test Results to be released at 5 PM ET
- Stress Test Table: Morgan Stanley Needs $1.5 Billion
- Senate Passes Expanded FDIC Credit Line
- Foreclosures: The 2nd Wave
- More Stress Test Leaks: Morgan Stanley, JPMorgan, AmEx all Pass
- ADP and BLS
- Report: Wells Fargo Needs $15 Billion in Capital
- Foreclosures: More movin' on up!
- Other Employment Reports
- Report: BofA Needs $34 Billion in Capital
- Homeowners Underwater
- Report: U.S. Setting Conditions for Banks to Repay TARP
- Homebuilders on the Housing Market
- Krugman's White House Dinner
- More on Demolished Houses in Victorville
- Fact Checking Bernanke on Real Estate
- April ISM Non-Manufacturing Index Shows Slower Contraction
- Bernanke on the Economic Outlook at 10 AM ET
- More Losses at GMAC
- Chrysler Bankruptcy: Take III
- Merle Hazard Meets John Taylor
- WSJ: About 10 of 19 Banks will need Capital
- Stock Market Update
- ManhattanWest Photos
- Fed: Banks Tighten Lending Standards Further
- Report: Wells Fargo Asked to Raise Capital
- Kansas Fed President Hoenig: Let Troubled Banks Fail
- Private Construction Spending Declines Slightly in March
- Pending Home Sales Up Slightly in March
- Financial Times: BofA plans to raise more than $10 Billion in Capital
- Krugman: Falling Wage Syndrome
- WSJ: Banks Tighten Corporate Credit Lines
- Credit Crisis Indicators
- Blight Laws and Foreclosed Properties
- Jim the Realtor: "Selling like hotcakes"
- Saturday Night Thread
- Shiller on Depression Scares
- Buffett on Housing and Consumer Spending
- Foreclosures: Banks Setting Opening Auction Bid Below Amount Owed
- Summary Post
- Bank Failure 32: America West Bank, Layton, Utah
- WSJ: Citi Needs "Up to $10 Billion" in Capital
- Bank Failure 31: Citizens Community Bank, Ridgewood, New Jersey
- Bank Failure 30: Silverton Bank, National Association, Atlanta, Georgia
- Auto Sales: Very weak in April
- Comparing Quarterly and Monthly PCE
- Corus Posts Loss, Warns of Possible Receivership
- Ford Sales off 31.3% YoY in April
- Reports: Stress Tests Results to be Released May 7th
- ISM Manufacturing Shows Contraction in April
- NMHC: Apartment Market Conditions Continue to Worsen
- Chrysler Bankruptcy Issues
- New Homes Demolished in Victorville, CA
- Report: Stress Test Results Delayed
April 2009
- CNBC: Stress Test Results for Each Bank May be Released
- April Economic Summary in Graphs
- Hotel Occupancy Off 8.4 Percent
- Chrysler Bankruptcy Announcement at Noon ET
- Restaurant Performance Index Increases Slightly
- Q1: Office, Mall and Lodging Investment
- Unemployment Claims: Record Continued Claims
- Chrysler Deal Collapses, Bankruptcy all but Certain
- Milken Conference: Credit Markets and the Role of Finance
- More Chrysler: Treasury Increases Offer to Debtholders
- WaPo: Chrysler BK Would Install Fiat Management
- Ranieri: Housing Is ‘Shouting Distance’ From Bottom
- FOMC Statement: As Previous Announced, Will Buy $1.75 Trillion in MBS, Agency Debt and Treasuries
- GDP Report: The Good News
- The Investment Slump
- GDP Declines 6.1% in Q1
- Late Night Open Thread
- Commercial Real Estate: "World of hurt"
- Jim the Realtor: Still Flippin'
- Tiered House Price Indices
- Liberty Property Trust on Leasing and Cap Rates
- More Details on Making Home Affordable Second Lien Program
- Chrysler: Deal Reached with Creditors
- Case-Shiller: City Data
- House Prices: Compared to Stress Test Scenarios, and Seasonal Pattern
- Case-Shiller: House Prices Fall Sharply in February
- Report: BofA, Citi Told May Need to Raise Capital
- Robert Shiller at Seattle Pacific University
- GM Bondholders Respond to Exchange Offer
- Truck Tonnage: More Cliff Diving in March
- U.S. Homeownership by Age Group
- Q1 2009: Homeownership Rate at 2000 Levels
- Another House "Deal of the Week"
- Bank Failure: FDIC Payout Transactions
- GM Restructuring Plan
- GM to Announce New Restructuring Plan at 9 AM ET
- Summers: Expect "sharp declines in employment"
- Bank Balance Sheet: Liquidity and Solvency, Part II
- Bank Balance Sheet: Liquidity and Solvency, Part I
- Krugman Worries about L-Shaped Recession
- Economist: A Glimmer of Hope?
- Late Night Open Thread
- Charlie Rose: Stiglitz and Ackman
- First American Economist on Housing
- The Pain in Spain and in Britain
- Fed's White Paper: More Should be Released
- Bank Failure 29: First Bank of Idaho, Fsb, Ketchum, Idaho
- Bank Failure 28: First Bank of Beverly Hills, Calabasas, California
- Bank Failure 27: Michigan Heritage Bank, Farmington Hills
- Geithner Press Conference
- Bank Failure 26: American Southern Bank, Kennesaw, Georgia
- Markets and Chrysler Pier Loans
- NCUA Seizes Eastern Financial Florida Credit Union
- Federal Reserve Releases Stress Test White Paper
- Geithner News Conference at 4:30 PM ET
- Home Sales: The Distressing Gap
- New Home Sales: 356 Thousand SAAR in March
- Ford: "Turning the tide in North America"
- Bloomberg Video about BofA CEO Ken Lewis and Merrill
- NY Times Norris: "Subprime Loans, Corporate-Style"
- AmEx: Conference Call Comments
- Wells Fargo and Auction Rate Securities
- Federal Reserve Assets Continue to Increase
- Report: Chrysler Bankruptcy Could Happen Next Week
- Hotel Occupancy Off 11%
- BofA CEO Lewis: Excerpts from Testimony
- More on Existing Home Sales
- Existing Home Sales Decline in March
- Unemployment Claims: Continued Claims at Record
- Chysler Pier Loan Negotiations
- Stress Test: Capital Needs May be Disclosed
- Housing Bust and Geographical Mobility
- Northern Trust's Kasriel: Are we there yet?
- DataQuick: Mortgage Defaults Hit Record in California
- IMF: Global Synchronized Cliff Diving
- DOT: U.S. Vehicle Miles Off 0.9% in February
- Architecture Billings Index Increases in March
- PIMCO's El-Erian on Stress Tests
- Futures and Mark to Market Music
- NY Times' Leonhardt on House Prices
- Capital One: Expect Charge-Off Rates Greater than 10%
- Fannie, Freddie Report Surge in Prime Delinquencies
- Chrysler Pier Loans
- Reports: IMF and Barofsky's SIGTARP
- More on Office Vacancy Rates and New Construction
- Citi CEO: Citi Will Repay TARP
- Geithner Testifies
- IMF: Global Losses may hit $4.1 Trillion
- Inspector General Barofsky on TARP
- Texas Instruments: Conference Call Comments
- CNBC: Ken Lewis Interview
- Another Fun Day in the Markets
- Foreclosures: Movin' on up!
- Office Space for Rent: One Year Free!
- BofA CEO: "Credit is bad, going to get worse"
- BofA: $13.4 billion in Credit-loss provisions
- Sunday Night Futures
- Planet Money Webcast
- Larry Summers: "Substantial risks; issues in the global economy, commercial real estate"
- Housing Activity Forecast
- Summers: For New Capital, Banks Must Try Private Markets First
- Appraisal Changes: Home Valuation Code of Conduct
- NPR's 'Planet Money'
- Volcker vs. Kohn on Inflaton
- Stress Test: Debating How and What to Release
- GM Update
- Bank Failure 25: Great Basin Bank of Nevada, Elko, Nevada
- Bank Failure 24: American Sterling Bank, Sugar Creek, Missouri
- Market and Jim the Realtor on Nightline
- Stress Test: To 8-K or not to 8-K?
- Bernanke on Financial Innovation
- Record Unemployment Rates in California and North Carolina
- Citi: Net Credit Losses Rising Rapidly
- Citi Announces a Profit
- Report: One-Third of REOs Seriously Damaged
- Bank Stress Test Release Date: May 4th
- Fed's Yellen: A Minsky Meltdown: Lessons for Central Bankers
- Jim the Realtor on Nightline
- TARP COP Elizabeth Warren on the Daily Show
- Regulators Give BankUnited 20 Days to Deal or Die
- DataQuick: California Bay Area Home Sales Increase
- Hotel Occupancy: RevPAR Off 28.1 Percent
- Report: Downtown Office Vacancy Rate Rises to 12.5%
- Philly Fed: Manufacturing "contracted less severely" this Month
- Unemployment Insurance: Continued Claims above 6 Million
- Housing Starts: Near Record Low
- General Growth Properties Files Bankruptcy
- China GDP increases 6.1% from Q1 2008
- Six Banks to Receive up to $9.9 Billion for Mortgage Modifications
- Mortgage Defaults Spreading to Higher Priced Areas
- Capital One Credit Card Charge-Offs Increase Sharply in March
- White House: US to release bank stress data in May
- Fed's Beige Book: "economic activity contracted further or remained weak"
- DataQuick: SoCal Home Sales Increase
- NAHB: Builder Confidence Increases in April
- Industrial Production Declines Sharply in March
- Consumer Prices Decline Slightly in March
- Stress Test Results: Here comes the Sun?
- Big Banks Increase Foreclosure Activity
- More Intel Conference Call Comments
- Intel Comments
- Market and a few Credit Indicators
- Los Angeles Port Traffic Rebounds
- Goldman Sachs Raises $5 Billion
- Obama: Glimmers of Hope, but More Job Loss, More Foreclosures, More Pain
- Retail Sales Decline in March
- WSJ: General Growth Bondholders Seek Lawsuit
- End of Recessions and Unemployment Claims
- Mortgage Fraud in 2008: Part II
- Goldman Sachs Reports $1.8 Billion Profit
- Oregon Unemployment Rate Ties Record High in 60+ Years
- Another Story of Falling Apartment Rents
- Mortgage Fraud: RICO Charges Filed Against Straw Buyers
- Mortgage Fraud in 2008
- Roubini and the Stress Test Scenarios
- Treasury Directs GM to Prepare for BK
- Protest at the San Francisco Fed
- Another House Price Round Trip to the 1990s
- Stalled CRE Projects in D.C.
- CRE: Easter Bunny Found in a Field of Steel
- Krugman on Economy and Stress Tests
- CRE Bust: A Hole in the Ground
- Corporate Credit Union Portfolio: From AAA to Junk
- China’s Lending Boom
- Bank Failure 23: New Frontier Bank, Greeley, CO
- Fed Paper on Reducing Foreclosures
- Bank Failure 22: Cape Fear Bank, Wilmington, NC
- FDIC Legacy Loans Program, Public Comments
- Federal Tax Receipts Off 28 Percent YoY
- Obama: Glimmers of Hope
- More Bandos
- Fed Orders Banks Not to Release Stress Test Results
- NY Hotels: Less Demand, More Supply
- Using Corporate Bonds as an Economic Predictor
- China: Record Auto Sales, Now Number 1 Auto Market
- Market: More Volatility
- CodePink Summers Protest
- Hotel Occupancy: RevPAR off 18%
- Larry Summers at the Economic Club
- CNBC Interview with Wells Fargo CFO
- U.S. Trade Deficit: Lowest Since 1999
- Unemployment Insurance: Continued Claims at Record 5.84 Million
- Housing Bust in Manhattan
- Bailout Bonds
- The TARP COP: Elizabeth Warren on April Report
- Vacancies, vacancies, vacancies ... and falling rents
- CRE: Rents Fall 24% in San Francisco, Landmark Foreclosure in Atlanta
- March FOMC Minutes: Outlook Revised Down
- Pulte and Centex Merge
- Shadow Inventory?
- Apartment Rents Fall 4% in SoCal
- Mall Vacancy Rate Increases Sharply in Q1
- WSJ: Treasury to Approve Life Insurer Applications for TARP Money
- Apartment: Vacancy Rate Increases, Rents Fall
- Stock Market April 7th: More Volatility
- Report: NY Office Rents Decline Sharply
- Report: Stress Test Results Delayed
- Reuters reports GM in Intense Bankruptcy Preparations
- Report: RBS to cut 9,000 jobs
- The PPIP and the FDIC
- Late Night Open Thread and Misc
- Report: IMF to Warn of $4 Trillion in Losses
- Meredith Whitney: House Prices to Fall Another 30%
- Boston Office Vacancy Rate Rises Sharply
- Krugman at the EU Conference on Bernanke and Innovation
- Bill Moyers Journal: William Black Interview
- Altman: Not a normal cyclical recovery
- Mayo on Bank Sector
- TARP Watchdog Calls for Bank Management Changes
- Sunday Night Futures
- Introducing Hoocoodanode Comments
- Stress Test Update: Regulator Meeting Planned
- CBS Face the Nation: Geithner on PPIP
- Mortgage Reform Bill Moving Ahead
- Bankrupt Brits
- Krugman on Crisis
- The DAP Legacy: FHA Delinquencies Rise Sharply in 2008
- Fannie, Freddie Lift Foreclosure Moratorium
- Bailout: The Potomac Two-Step
- Summary Post
- Inflation vs. Deflation
- Hoocoodanode? New Comment System Beta Test
- Waiting for the FDIC
- Chrysler Pier Loans Still Haunting Banks
- OCC: More Seriously Delinquent Prime Loans than Subprime
- Bernanke on Fed's Balance Sheet
- Report: Banks Considering Gaming PPIP
- Employment: Comparing Recessions and Diffusion Index
- Part Time for Economic Reasons Hits 9 Million
- Employment Report: 663K Jobs Lost, 8.5% Unemployment Rate
- Office Vacancy Rate Rises to 15.2% in Q1
- Homeowner-Aid: When Interests Collide
- More Stories of Falling Apartment Rents
- Markets: Another Day at the Casino
- The Financial Crisis: An Inside View
- Former Treasury Assistant Secretary writes: "What was going on?"
- Credit Crisis Indicators
- Hotel Occupancy: RevPAR Off 20%
- FASB on Mark-to-Market Rules
- Monster Employment Index Declines in March
- Unemployment Insurance: More Weakness
- LA Times on Jim the Realtor
- NPR: Anatomy Of A Bank Takeover
- Auto Sales: Ray of Sunshine?
- Moody's Warns of Worst Corporate Default Rate since WWII
- Moody's: Record High Credit Card Charge-Offs
- Case Shiller House Prices Seasonal Pattern
- Wile E. Coyote Indicator
- Ford U.S. March sales fall 40.9%
- Thornburg Mortgage to file BK
- Construction Spending Declines in February
- Pending Home Sales Index
- ADP: Private Sector Loses 742,000 Jobs
- Evening Summary and Open Thread
- Report: Obama believes automaker BK appears inevitable
March 2009
- Comparison: OECD and "More Adverse" Scenarios
- Market and Misc
- Tiered House Price Indices
- March Economic Summary in Graphs
- Restaurant Peformance Index: 16th Consecutive Month of Contraction
- Philly Fed State Indexes: We're all Red States now!
- House Prices: Tracking More Adverse Stress Test Scenario
- Case-Shiller: Prices Fall Sharply in January
- The End of the GM Hummer on Tuesday?
- How Iceland Went Mad
- Autos: Cerberus Loses Equity, New GM CEO Says Bankruptcy "may be best option"
- "My Manhattan Project"
- Market Cliff Diving and More
- House Prices: Round Trip to 1990
- Administration on GM, Chrysler
- CRE: 'Half Off' Sale for Boston’s John Hancock Tower
- FHA Mortgage Defaults Increase
- Government: GM, Chrysler "may well require" Bankruptcy
- Sunday Night Futures
- Cajas: The Pain in Spain
- GM CEO to Step Down as part of Bailout Agreement
- Personal Saving and Mortgage Equity Withdrawal
- Newsweek Cover Story on Krugman
- Washington State Banks Under Stress
- TARP Accounting
- G-20: "Obama Signals Flexibility"
- Mauldin on Housing?
- The Mega-Bear Quartet
- Forecast: Two-thirds of California banks to face Regulatory Action
- Further Bailout of Automakers Expected on Monday
- Words of Advice: December 13, 2000
- FDIC on Omni National Bank, Atlanta Failure
- Q1 GDP will be Ugly
- Bank Failure #21: Omni National Bank, Atlanta
- Default Rate Rises for Student Loans
- Vehicle Sales: Cliff Diving in February
- Q4: Non-Residential Investment Revised
- February PCE and Personal Saving Rate
- Another Late Night Thread
- SouthPark: Bailout!
- House Prices vs. PCE
- Federal Reserve Assets Increasing Again
- Nutting: Unemployment still rising
- More Retail Space Coming
- U.S. Hotel Occupancy Rate at 58.5%
- Geithner Calls for ‘New Rules of the Game’
- Unemployment Insurance: Continued Claims Over 5.5 Million
- Geithner to Propose Regulatory Reform
- WSJ: Commercial Property Faces Crisis
- Shanty Towns
- Report: Truck Tonnage Increased in February
- New Home Sales: Is this the bottom?
- Fed's Yellen: The Uncertain Economic Outlook
- Forecasts: 12% Unemployment in California
- New Home Sales: Just above Record Low
- Martin Wolf: "Successful bank rescue still far away"
- Durable Goods Orders Rise in February
- Late Night Futures
- Equity Extraction Data
- Obama Press Conference on the Economy at 8 PM ET
- Volcker on Inflation, the Dollar and China
- Fed to Start Buying Longer Term Treasury Securities on Wednesday
- What is the backup plan?
- Q4 Mortgage Equity Extraction Strongly Negative
- MBA: Refinance Boom will Boost Mortgage Originations to $2.7 Trillion in 2009
- Geithner: New Powers Needed to Seize Non-bank Financial Companies
- Krugman Discusses Geithner's Toxic Plan on News Hour
- Goolsbee Responds to Krugman
- Report: China Suggests New Reserve Currency
- Some Positive Comments on the Geithner Toxic Plan
- Stock Market: Up, up and Away!
- Existing Home Sales: Turnover Rate
- Buying REOs to Rent
- More on Existing Home Sales
- Existing Home Sales Increase Slightly in February
- Details on Public Private Partnership Investment Program
- Geithner: My Plan for Bad Bank Assets
- Geithner to hold "Toxic" briefing at 8:45 AM
- Geithner to Announce "Toxic" Plan before 9:30 AM ET
- More Jumbo Financing Coming
- Escondido House: Over 80% Off Peak Price
- Banks Leaving Money on the Table "All Day Long"
- CRE: Cap Rate Expansion
- Stress Test, Quarterly Forecasts for Unemployment and GDP
- Geithner's Toxic Asset Plan
- Late Night Music: "Hey Paul Krugman"
- Credit Unions, Bank Failures, and More
- BF 19 & 20: FDIC Seizes Teambank, National Association, Paola, Kansas and Colorado National Bank, Colorado Springs, Colorado
- Regulators Seize Two Large Credit Unions: U.S. Central and WesCorp
- Bank Failure #18: FDIC Closes FirstCity Bank, Stockbridge, Georgia
- Stock Market: More Volatility
- Citi Forecloses on General Growth Mall
- California Unemployment Rate Rises to 10.5% in February
- Bernanke to Speak at Noon ET
- General Growth Faces 5 PM Deadline
- Hotel Occupancy Rate Off Sharply
- FDIC Closes Sale of Indymac, Loses $10.7 billion
- Travel Spending: Cliff Diving
- Banks Sell Some REOs in Bulk below Market Prices
- Fed Expands TALF to include more Securities
- How far will mortgage rates fall?
- DataQuick: Foreclosure Resales now 52% of Sales in California Bay Area
- DOT: U.S. Vehicle Miles Off 3.1% in January
- Philly Fed: Continued Contraction, Employment Index at Record Low
- Moody's may Downgrade $241 Billion in Prime Jumbo Securities
- Unemployment Claims: Continued Claims at 5.5 Million
- Sign of the Times: "Not Hiring" and Summary
- 2007 Data: Record Number of Babies Born in U.S.
- Lower Mortgage Rates as Economic Stimulus
- More on Housing Bottoms
- FOMC: Buy $300 Billion in Long Term Treasuries, More MBS
- Charlie Rose: AIG and Meredith Whitney on Banks
- Architecture Billings Index Near Record Low
- CPI Increases 0.4% mostly due to gasoline
- Jet Blue Pokes Fun at CEOs
- Housing: Two Bottoms
- Housing Starts: Is this the Bottom?
- Stock Market Update
- Thornburg Mortgage may file bankruptcy
- DataQuick: SoCal Home Sales Up, Foreclosure Resales 56.4% of Market
- Credit Crisis Indicators
- Housing Starts Rebound
- Obama Administration Hoping to Avoid Auto Bankruptcies
- Credit Card Defaults at 20 Year-High
- Comparing the NAHB Housing Market Index and New Home Sales
- FASB to Propose Changes to Mark-to-Market
- Report: Mortgage Fraud Increased in 2008
- NAHB Housing Market Index Still Near Record Low
- Industrial Production and Capacity Utilization: Cliff Diving
- Empire State Manufacturing Survey: "conditions deteriorated significantly"
- Sunday Night Futures
- AIG Discloses Counterparties
- Bernanke: The End is Near
- Hamilton: "What will recovery look like?"
- Domestic Oil Investment to Decline Sharply in 2009
- FSA urges Global Crackdown on Shadow Banking System
- Roubini: "Reflections on the latest sucker’s rally"
- Inventory Correction
- G20: Key is Value of Assets on Banks’ Balance Sheets
- G-20: No Call for Stimulus
- Friday is Cancelled
- LA Port Import Traffic Collapses in February
- Stock Market: Another Up Day
- Report: BankUnited Halts Attempts to Raise Capital
- Report: 200 FDIC Agents Arrive in Puerto Rico
- Philly Fed State Coincident Indexes: Widespread Recession
- Stewart vs. Cramer
- FICO President: 'Worst to come' for Mortgage Crisis
- U.S. Trade: Exports and Imports Decline Sharply in January
- Summary Post: Household Wealth, Retail Sales, and more
- Citi and BofA: No More Capital Needed
- Counterparty Risk: Mortgage Insurers Again
- Stock Market Rallies to 1997 Prices
- S&P: Delinquencies Surge for HELOCs and Jumbo Prime Loans
- Fed: Household Net Worth Cliff Dives in Q4
- Retail Sales: Some Possible Stabilization
- Unemployment Claims: Continued Claims at Record 5.3 Million
- Wednesday Night Futures
- FDIC Collected Few Insurance Fees for a Decade
- Freddie Mac: $23.9 Billion Loss, Asks for $30.8 billion in funding
- State Unemployment Rates
- U.S. Tax Receipts Cliff Dive to 14 Year Low
- Bank Failures and C&D Loans
- Setser on the Decline in China's Exports
- UK Begins Quantitative Easing
- Charlie Rose: A conversation with Timothy Geithner
- More Credit Tightening
- What is a depression?
- Office Space: Short Term Leases in NY
- Stock Market: To the Moon!
- Con-way CEO: Could be near bottom in Freight Volumes
- AT&T on Capital Expenditures in 2009
- Used Vehicle Wholesale Prices Rebound
- Report: U.S. Considers Further Steps for Citi
- FDIC's Bair on "aggregator bank"
- S&P Puts $552.8 billion Alt-A MBS on Downgrade Watch
- The Coming Expansion of the TALF to include CMBS
- 60 Minutes Video: FDIC Seizing Heritage Community Bank
- Stock Market: Another "Lowest Since ..." Day
- "Strictly Confidential" AIG Document Warns of Dire Consequences of Failure
- Roubini on CNBC: Could be 36 Month Recession
- Credit Conditions: Corporate Master Spread
- Credit Conditions
- Buffett: Economy "has fallen off a cliff."
- Sunday Night Futures
- Summers: "Universal demand agenda"
- Business Cycle: Temporal Order
- Senator Shelby: 'Bury' Some Big Banks, Citi a 'Problem Child'
- Rising EPDs on FHA Loans
- CR's Secret
- The U.K. Stress Test Scenario
- Obama: Another $750 Billion Needed for Banks
- The Oil Cushion
- Summary Post: Unemployment Hits 8.1%
- Won't Last ...
- WSJ: AIG Aid Went to Goldman, Others
- Bank Failure #17 in 2009: Freedom Bank of Georgia, Commerce, Georgia
- Report: £250 Billion Asset-protection Scheme for Lloyds
- Consumer Credit
- Fed's Hoenig: 'Too Big has Failed'
- Part Time for Economic Reasons Hits 8.6 Million
- More on Job Losses: Comparing Recessions, Diffusion Indices
- Employment Report: 651K Jobs Lost, 8.1% Unemployment Rate
- Senate Bill Seeks $500 Billion for FDIC
- Summary and Discussion
- More on Negative Equity
- Stock Market: Cliff Diving
- Bankruptcy Filings Up 31% in 2008
- UK: BoE Cuts Rate to 0.5%, Begins Quantitative Easing
- More on MBA National Delinquency Survey
- Daily Show: CNBC Gives Financial Advice
- Report: Record 5.4 Million U.S. Homeowners Delinquent or in Foreclosure
- The Stress Test "19"
- Initial Jobless Claims: Slight Decrease
- Late Night Futures
- CRE: Investment in Hotels, Offices and Malls
- Fed's Lockhart on Real Estate
- Mortgage Modification and 2nd Mortgages
- LA Times: Housing Development Sites Become "Wasteland"
- Market Rebound
- Fed's Beige Book
- Employment Data
- February ISM Non-Manufacturing Index Shows Faster Contraction
- Treasury Releases Detailed Guidelines on Mortgage Modification Plan
- Report: 8.3 Million U.S. Homeowners with Negative Equity
- Toll Brothers: More Losses, No Pick-up in Activity
- Interesting Technical Pattern Developing*
- Office Furniture: Cliff Diving
- Pensions: Another Trillion Dollar Bailout?
- Stock Market: S&P 100 points from 1995
- GM Sales off 53%, Toyota Off 40%
- Transportation: Record Idle Ships, Trucking Tonnage Increases Slightly
- Ford U.S. Sales Down 46.3% in February
- Pending Home Sales Index Down 7.7%
- Fed: TALF to Begin Disbursing Funds March 25th
- James Baker: "Prevent Zombie Banks"
- House "Deal of the Week"
- WSJ: Leaked Details on Public-Private Entities Buying Bad Bank Assets
- Ken (CR Companion fame) on Comments
- Market: More Cliff Diving
- Vehicle Sales in January
- January PCE and Personal Saving Rate
- February 2009 Manufacturing ISM: Employment Index at Record Low
- Construction Spending: Non-Residential Cliff Diving
- AIG: $61.7 Billion Loss
- Treasury and Fed: AIG Restructuring Plan
- AIG: Earnings at 6 AM ET, Webcast at 8:30 AM
- Sunday Evening Futures
- HSBC Update
- NY Times: "When Will the Recession Be Over?"
- More AIG
- Report: AIG Deal Near
- Late Night Comments
- Layoffs (short comedy)
February 2009
- HSBC to take £17bn Bad Loan Provision
- February Economic Summary in Graphs
- Buffett's Letter to Shareholders
- UK: 500,000 Lloyds Borrowers have Negative Equity
- High on the Hill
- Bank Failure #16 in 2009: Security Savings Bank, Henderson, Nevada
- Bank Failure #15 in 2009: Heritage Community Bank, Glenwood, Illinois
- A comment on comments ...
- Party Like It's ... 1996
- California Unemployment Rate Hits Double Digits
- Investment Contributions to GDP
- GE Cuts Dividend
- The Stress Test Schedule
- Restaurant Performance Index Rebounds Slightly
- Citi Deal Details
- GDP Revision: Q4 GDP Declined at 6.2%
- Report: Citi and U.S. Government Reach Agreement
- Summary Post: New Home Sales at Record Low
- Obama Proposes to Cap Mortgage Interest Deduction for Higher Income Taxpayers
- Fannie Mae: $25.2 Billion Loss
- S&P May Downgrade $140 Billion in Prime Jumbos
- What If Rents Cliff Dive?
- FDIC: Number of Problem Banks Increases Sharply in Q4
- U.S. May Backstop AIG CDS
- Obama Budget: $250 Billion for TARP II
- Banks: Fear and Despair
- FDIC: $1.45 Billion in Distressed Loans Sold
- Record Low New Home Sales in January
- GM Expects 'Going Concern' Notice
- Weekly Claims: Continued Claims Over 5 Million
- Report: AIG Discussing "Radical Restructuring"
- Summary: Another Busy Day
- WSJ: Citi Deal Is Imminent
- BofA's Lewis: Merrill, Countrywide Are ‘Stars’
- Stress Test House Price Scenarios
- Stress Test Economic Scenarios
- Treasury Releases Terms of Capital Assistance Program
- New and Existing Home Sales: The "Distressing" Gap
- Credit Crisis Indicators
- Bernanke: "We're not completely in the dark."
- More on Existing Home Sales (and Graphs)
- Existing Home Sales Decline to 4.49 million in January
- Citi Deal Could be Announced Wednesday
- Economic News and Stress Tests
- Obama: "We will rebuild, we will recover, we will emerge stronger than before."
- On Consumer Confidence
- KCET: The Trashout Squad
- Stock Market Rebounds Despite "Mysterious Plans"
- Bernanke on Nationalization
- House Prices: Selected Cities
- Fed: Delinquency Rates Increased Sharply in Q4
- House Prices: Real Prices, Price-to-Rent, and Price-to-Income
- Bernanke: 2010 Will be Year of Recovery
- Case-Shiller: House Prices Decline Sharply in December
- Home Depot Sales Fell 17% in Q4
- AIG and Market Discussion
- General Growth Properties: $1.179 billion of past due debt
- Waiting for Citi, AIG, GGP News
- Former Fed Governor Feels "Accountable"
- Party Like It's ... 1997
- CNBC: AIG Asking for more Government Funds
- CNBC: Citigroup Deal may happen today
- Home Builder: "We can't compete"
- Chicago Fed: National Activity Index Remains Low in January
- Treasury: Major U.S. banking institutions "Well capitalized"
- More on the Possible Nationalization of Some Banks
- Late Night Market Discussion
- WSJ: Citi and U.S. Government in Talks to Convert Preferred to Common
- ABC This Week on Nationalizing Banks
- CNBC: Stress Test Details on Monday
- Falling Rents
- Report: RBS to Split into Good Bank / Bad Bank
- The Federal and California New Home Buyer Tax Credits
- Volcker Speech: Economy May Suffer for a `Long Time’
- Report: Bank Stress Tests to Start "Soon"
- Obama's Budget Proposal
- Silver, Gold, and the Hunt Brothers
- Daily Show: Fixing the Economy
- Bank Failure #14 in 2009: Silver Falls Bank, Silverton, Oregon
- Is it Friday Yet? Volcker: "Mother of all financial crisis"
- Forecast: Office Vacancy Rate to increase to 16.7% in 2009
- Report: Geithner to Provide Bank Bailout Details Next Week
- Dodd: Short-Term Bank Nationalization "may happen"
- Bond Trading Highest Since ‘07
- Big Bank Cliff Diving
- Failed Banks and CDs
- Lowe's: Same Store Sales to Decline 6% to 10%
- UK: Homeowners Mortgage Support scheme
- Markets and more
- Charlie Rose: Nouriel Roubini, Mark Zandi, and Fred Mishkin
- The TARP Visualized
- Federal Reserve Assets Starting to Increase Again
- DataQuick: California Home Sales Increase
- Fed Announces Written Agreements with Four Banks
- Fed's Lockhart sees "catalysts for the start of modest recovery"
- Rick Santelli: "Chicago Tea Party in July"
- Homebuilder Survives Depression, Files Bankruptcy
- U.S. Vehicle Miles Driven Off 3.6% in 2008
- Philly Fed Survey: Employment index at Record Low
- Unemployment Claims: Continued Claims Almost 5 Million
- Roubini: Housing, Stimulus and Nationalization
- Corus Bankshares Announces Consent Order
- Key Economic News
- Housing Starts: The Pain in Spain
- LA Area Ports: Exports Decline in January
- Quarterly Housing Starts and New Home Sales
- Bernanke and Fed Minutes
- Comments on Housing Plan
- Architecture Billings Index Hits Another Record Low
- Obama Housing Plan
- Capacity Utilization and Industrial Production Cliff Diving
- Housing Starts at Another Record Low
- The Housing Bailout
- Evening Market Discussion Thread
- Overcapacity Everywhere
- Quick Thoughts on GM and Chrysler Restructuring Plans
- GM asks for $16.6 billion, to cut 47,000 Jobs
- Chrylser Asks for More Money
- More Cliff Diving ...
- WaPo on Geithner: Last Minute Course Change for Bank Bailout
- NAHB Housing Market Index Near Record Low
- Ponzi: SEC Charges Stanford with $8 billion securities fraud
- Ratings Cut for Mortgage Insurers
- Empire State Manufacturing: "conditions deteriorated significantly"
- Late Night Market Discussion Thread
- Schwarzenegger Prepares to Layoff 20,000
- FRONTLINE: Inside the Meltdown
- State Budgets: No Progress in California, Kansas Suspends Income Tax Refunds
- Report: Hotel Recession Reaches 15 months
- Community Banker: Break Up Big Banks
- The Story of Dictionary Hill
- Japan's Economy Shrinks Sharply
- House "Deal of the Week"
- Preprivatization
- Graphs: FDIC Bank Failures
- Axelrod: Housing Plan to be Announced Wednesday
- Report: RBS Expects up to 20,000 Additional Job Cuts
- Tanta Vive Gear: Happy Valentines Day!
- The Growing Chorus for Nationalization
- More on Dubai
- NY Times: F.D.I.C. Struggles to Dispose of Assets
- GM to U.S.: More Money or Bankruptcy
- Office Space: One Year Free Rent
- Bank Failure #13: Pinnacle Bank, Beaverton, Oregon
- Bank Failure #12 in 2009: Corn Belt Bank and Trust Company, Pittsfield, Illinois
- Bank Failure #11 in 2009: Riverside Bank of the Gulf Coast &
- Bank Failure #10 in 2009: Sherman County Bank, Loup City, Nebraska
- Freddie, Fannie Suspend Foreclosure Sales
- Hotels: Wyndham says RevPAR to decline 6% to 10% in 2009
- JPMorgan, Citi, Morgan Stanley Temporarily Halt Foreclosures
- S&P: "First quarter ever of negative earnings"
- Lloyds: More HBOS Losses
- Tough Times for Restaurants
- The News Hour Economists panel - Krugman, Rogoff, Marron, Rivlin
- Attorney Layoffs: "Unprecedented Bloodbath"
- OTS Chairman Reich Steps Down
- Setser on Trade and the Current Account Deficit
- U.S. Considers Mortgage Subsidies for Some Homeowners
- NY AG Cuomo Letter to Barney Frank on Merrill Bonuses
- Fed Paper: Effective Practices in Crisis Resolution
- NAR: Distressed Sales Accounted for 45% of Q4 Activity
- Unemployment Claims: 4 Week Average above 600 Thousand
- Retail Sales Increase Slightly in January
- Stress Test: Almost 100 Regulators at Citigroup
- Viewing Problems Today and Congressional Video
- Stimulus: Homebuilder Tax Break "Sharply Curtailed"
- Housing Tax Credit: "Largely Dropped"
- Martin Wolf: The New TARP Will Fail
- U.S. Budget Deficit: Heading for $1.6 Trillion
- Report: Stimulus Agreement Reached
- Commercial Mortgage Applications Off 80 Percent in Q4
- U.S. Trade: Exports and Imports Decline Sharply
- Credit Suisse: $5.2 billion Loss
- Stimulus Package: The Negotiations Begin
- Obama on Nationalization
- Cliff Diving: U.S. Stocks
- A suggestion for Balance Sheet Transparency and Disclosure
- U.S. Senate Approves Stimulus Plan
- Fed Expands TALF to $1 Trillion
- The Bank Bailout Plan
- CRE: Boston Haircut
- UBS: $7 Billion Loss; to Cut 15,000 Jobs
- NY Times: Bank Bailout Plan Details
- Some Improvement in Bond Market
- President Obama to Speak on Stimulus at 8 PM ET
- CNBC: 'Bad Bank' Plan Is Dropped
- Job Losses During Recessions
- CNBC: Dr. Doom & the Black Swan
- 30 Year Mortgage Rates vs. Ten Year Treasury Yield
- Bill Gross: Fed to Cap Ten Year Yield
- When Pier Loans go Bad
- UK: Demand for Office Space Falls Sharply
- Mansori: Tax Credit Will Not Boost House Prices
- NY Times on Bank Bailout Plan
- Affordability "Products" Lead to Higher Defaults in the O.C.
- House Looking Tip: The Old Running-Pool Trick
- Summers: Bank Bailout Announcement Delayed until Tuesday
- The Competing Stimulus Bills
- Bank Failure Haiku
- The Homebuyer Tax Credit
- CRE Underwater
- Bank Failure #9 in 2009: County Bank, Merced, California
- Fed's Yellen: Economic Outlook and Community Banks
- Senate Reaches Deal on Stimulus Package
- Bank Failure #8 in 2009: Alliance Bank, Culver City, CA
- Bank Failure #7 in 2009: FirstBank Financial Services, McDonough, GA
- Wells Fargo Offers to Reduce Some Wachovia Mortgages
- Bailout: Announcement Monday at Noon
- BofA CEO: No Additional Bailout Needed for BofA
- Employment Diffusion Index
- January Employment Report: 598,000 Jobs Lost, Unemployment Rate 7.6%
- Bailout: More Equity Stakes?
- Stimulus, Bailout and Employment Report
- "Skips" in Dubai
- CMBS on the Chopping Block
- Zandi: "Looking For a Bottom"
- CNBC: White House Plans Smaller Bank Bailout
- Unemployment Claims Highest Since 1982
- $15,000 Tax Break for Homebuyers
- 2009 GDP Forecasts
- MIT CRE Price Index Declines Sharply
- BRE Properties: Beginning of "Two Year Declining Rent Curve"
- Preprivatize the Banks
- Say what? (funny things politicians say)
- Forecast: San Diego Office Vacancy Rate to Top 20%
- ISM Non-Manufacturing Index Shows Contraction
- Corus: One-third of Outstanding Loans Nonperforming
- Late Night Thread
- Update: Tanta Scholarship Fund
- Looking for the Sun
- Markopolos's Testimony to Congress on Madoff and the SEC
- The Residential Rental Market Update
- A caution on Housing Vacancies and Homeownership report
- GM sales fall 48.9%, Toyota Off 32%
- Ford sales fall 42.1% in January
- Fed: Extends Loan Programs because of "Continuing substantial strains"
- Q4: Homeownership Rate Declines to 2000 Level
- Pending Home Sales Index Increases in December
- More on the Inland Empire Bust
- Australia A$42 billion Stimulus Plan
- FDIC seeks to Increase Treasury Borrowing Limit
- 20 Million Migrant Worker Jobs Lost in China
- Fed: Lending Standards Tighten, Loan Demand Weakens in January
- Q4: Office, Mall and Lodging Investment
- Macy's Cut 7,000 Jobs, Reduces Capital Spending Plans Again
- UK: CRE Values Off 26% in 2008
- Residential Investment Components
- Construction Spending: Private Nonresidential has Peaked
- Less Spending, More Savings in December
- NY Times Example of a Toxic Asset
- Falling Retail Rents in New York
- Unemployment Forecast
- San Diego House "Deal of the Week"
- The Bailout Rap
- NYC: Rents "Falling Fast"
January 2009
- Ramsey Su: Allow Foreclosures to Happen
- CNBC: "Bad Bank" Possible by Next Week
- January Economic Summary in Graphs
- How I Learned to Stop Worrying and Love the TARP
- Four Bad Bears: January Update
- Frontline: Inside the Meltdown
- 2009 Bank Failures 5 and 6
- 2009 Bank Failure #4: MagnetBank, Salt Lake City, Utah
- Restaurant Performance Index at New Low
- Simon: New Mall Construction "Dead for a decade"
- The Rebalancing Continues ...
- Fannie Mae Extends Eviction Suspension Another Month
- Investment as a Percent of GDP
- GDP Declines 3.8% in Q4
- Q4 GDP Forecasts: Consensus 5.4% Decline
- WSJ: Option ARM Defaults Rising
- Credit Crisis Indicators
- $4 Trillion Bank Bailout?
- "Unprecedented and shocking" Decline in Air Cargo
- Regulator to Bank: Find Buyer or Else
- Philly Fed: Activity Declined in Every State in December
- Record Low New Homes Sales in December
- Continued Unemployment Claims at Record High
- Ford $5.9 Billion Loss
- Late Night: Credit Union Bailout, Ford Job Cuts, Citi Oversight
- Genworth Tightens Mortgage Insurance Guidelines
- House Passes Stimulus Plan
- Architecture Billings Index as a Leading Indicator of Construction Spending
- Truck Tonnage Index: Cliff Diving
- Starbucks to close another 300 stores, Cut 7,000 Jobs
- FOMC: Prepared to Purchase Longer-Term Treasuries
- Report: FBI saw Mortgage Fraud, Lacked Resources
- Boeing to Cut 10,000 Jobs
- WSJ on Jumbo Loans
- Report: FDIC May Run "Bad Bank"
- FOMC Statement: Will the Fed buy longer-term Treasuries?
- House Panel Approves Cram Downs
- CNBC: "Bad bank" plan "gaining momentum"
- SL Green: Manhattan Office Vacancy Rate to Hit 12%
- Roubini: Bloomberg Interview from Zurich
- DataQuick: Temporary Drop in California Foreclosure Activity
- The New Three D's of Housing
- FDIC to Tighten Interest Rate Restrictions on some Institutions
- Case-Shiller: House Prices Fall Sharply in November
- WSJ on Fed's Commercial Paper Funding Facility
- First Fed: Layoffs, Cease and Desist Order
- Fannie to ask for up to $16 Billion
- Amex: "Harshest operating environment in decades"
- Annual Existing Home Sales
- New Mortgage Data Requirements from FHFA
- TARP: Free Ice Cream!
- Existing Home Sales (NSA)
- Existing Home Sales Increase in December
- Job Cuts: Caterpillar 20,000, Sprint 8,000, Home Depot 7,000
- Nationalization
- Slow Day, Busy Week
- Summers: "Next few months are going to be very, very difficult"
- CRE: When the Reserve Runs Dry
- Obama to Make Changes to Financial Regulatory System
- U.S. Trade Deficit Graphs
- Report: U.K. Government to Insure up to £100 billion in RBS Loans
- Report: More Layoffs at Starbucks
- Roubini: The U.K. is NOT Iceland
- More on Intrade Depression Odds
- 2009 Bank Failure #3: 1st Centennial Bank, Redlands, CA
- It's Never Enough: Citigroup $12 Billion, Freddie Mac $35 Billion
- I Want Some Tarp!
- The Accidental Landlord
- Housing and "Ghost Inventory"
- Britain Officially in Recession
- GE: "2009 to be extremely difficult"
- Bank Failures and Commercial Real Estate
- UK Office Market: Rising Vacancies, Falling Rents
- COF: "Strikingly high FICO customers" Defaulting
- Capital One, Synovus: Higher Charge-offs
- Rail Freight Traffic Off Sharply in 2009
- A2/P2 Spread Falls Sharply
- PBS Interview with Warren Buffett
- Merrill CEO Thain Resigns from BofA
- DOT: U.S. Vehicle Miles Driven Declines Sharply
- Microsoft Cuts Jobs, Sees Lower Revenues
- Weekly Unemployment Claims Increase
- Housing Starts at All Time Low
- BOJ Considers Buying Corporate Bonds
- China: GDP Increased at 6.8% YOY in Q4
- Architecture Billings Index Near Record Low
- Kasriel: Dubya
- Apple Computer Reports Record Quarter, Intel Announces Layoffs
- Wrong Mall, Wrong Place, Wrong Time
- DataQuick: Foreclosure Resales 50% of Market in California Bay Area
- NAHB Housing Market Index Falls to New Record Low
- Tranche Warfare
- Geithner Confirmation Today
- National Association of Home Builders: Prices to Fall 29% in 2009
- Vehicle Sales
- A Bitter Bailout
- Bank of England to Start Buying Assets, Germany Bails Out Hypo - Again
- Big Bank Cliff Diving
- More Layoffs Announced Today
- Obama and the Economy
- Roubini: U.S. Credit Losses may reach $3.6 Trillion
- State Street and Regions Financial
- Fiat and Chrysler
- MPs Urge Nationalization of Royal Bank of Scotland
- Apartment Market Weakens Further
- House Prices Fall to Zero
- DataQuick: Foreclosure Resales Account for 55.7% of Socal Housing Sales
- Inland Empire and Construction Employment
- Royal Bank of Scotland: £28 Billion in Losses
- Krugman: Wall Street Voodoo
- UK: More on New Bailout Scheme
- Intrade: Odds of a Depression
- Bad CRE Loans threaten Regional Banks
- More on new UK Bank Bailout
- We're All Subprime Now! *
- The Next Step for the U.S. Bank Bailout
- UK: New £200bn "Bad Bank" Bailout Plan
- Bird and Fortune: Silly Money
- 2009 Bank Failure #2: Bank of Clark County, Vancouver, WA
- 2009 Bank Failure #1: National Bank of Commerce, Berkeley, IL
- Layoffs: I read the news today, oh boy!
- California: No Tax Refund for you!
- CBO: $64 Billion "Subsidy Cost" for TARP
- CNBC: Circuit City Will Be Liquidated
- Capacity Utilization and Industrial Production Cliff Diving
- CPI declines 0.7% in December
- BofA, Citi Report Losses
- Treasury, Federal Reserve, and the FDIC Provide Assistance to Bank of America
- Possible BofA Bailout Details
- LA Area Port Traffic Collapses in December
- BofA to Announce Results and Bailout Details on Friday
- Office Vacancy Rate Rises in Q4
- Fed's Yellen: "Worldwide Recession"
- CNBC: BofA Government Guarantees Between $100 Billion-$200 Billion
- Preliminary Plan: American Recovery and Reinvestment
- Schwarzenegger: California Faces Insolvency within Weeks
- Regional Banks: Marshall & Ilsley Posts Large Loss
- JPM Earnings Call Notes
- RealtyTrac: Foreclosure Filings Increase 81% in 2008
- Weekly Unemployment Claims
- Four Bad Bears Update
- Another Bailout for BofA
- Fed's Beige Book on CRE: "Grim and Depressing"
- More Retailer Bankruptcies
- California Foreclosure Activity Picks up Again
- Deutsche Bank Warns of $6.33 Billion Loss
- Retail Sales Collapse in December
- Large Portion of Stimulus Aimed at States
- California Budget Crisis forces UCI to Halt Construction
- WSJ: Citi to Announce Major Reorganization
- Credit Crisis Indicators: TED Spread Below 1.0
- Federal Home Loan Bank of Seattle Suspends Dividend
- Beazer Homes: Sales Off more than 50%
- Trade Deficit Declines Sharply
- Obama Drops Jobs-Credit Proposal
- Retail Bankruptcy: Shane Jewelry
- Alcoa: $1.2 Billion Loss
- More CRE Woes: Multifamily housing
- Obama Asks Bush to Request Remaining TARP Funds
- Hologic: Decline in Hospital Spending
- Zandi: The "Lost Economic Decade"
- Retailer Bankruptcy Filings Expected
- Demolition as Stimulus
- Trucking Quote of the Day
- Christina Romer Explains Stimulus Plan
- The Obama Stimulus Plan
- Morgan Stanley May Pay $3 Billion for Smith Barney Interest
- Office Investment
- Automaker Pensions Underfunded
- The Residential Rental Market
- Boeing to Cut 4,500 Jobs
- Over 8 Million Part Time Workers
- Employment Declines Sharply, Unemployment Rises to 7.2 Percent
- Office Vacancy Rates Rising
- Federal Reserve Assets Decline
- Roubini: Two Year Recession
- Citi Supports Mortgage Cram-Downs
- 2008 Port Traffic Lowest in Four Years
- Housing: Declining Rents
- Speculators or Investors?
- Wal-Mart Reports Disappointing Sales
- Commercial Delinquencies Double over last 90 days
- Marks & Spencer CEO: "the sharpest downturn in the shortest time"
- Restaurant Performance Index at Record Low
- Intel Business Deteriorates Rapidly
- Mall Vacancies Reach 10-Year High
- Hamilton on December Auto Sales
- Alcoa to Eliminate Jobs, Cuts Capital Spending Plans
- Fed Fears Long Recession
- Talk about poor visibility ...
- Obama Stimulus Plan to Increase Conforming Jumbo Limit?
- Pending Home Sales Index Declines in November
- Mortgage Cram-Down Legislation Moves Ahead
- Foreclosures: Movin' on up
- Credit Crisis Indicators: Improvement
- Chrysler Sales Off 53%
- Toyota Sales off 37%, GM off 31%
- Ford December Sales off 32.4%
- The Hotel Bust
- Cartoon: 2009 Proclamation
- Construction Spending Declines in November
- CRE Crash Spreading
- New Home Sales and Unemployment
- Fed's Yellen: Recession "longer and deeper" than "Garden-Variety"
- Non-Residential Structure Investment vs.Residential Investment
- UK: Another Round of Bailouts for Banks?
- CR's Road Trip
- FDIC Board Approves Sale of IndyMac
- S&P Case-Shiller House Price Graphs for October
- ISM Manufacturing Index: More Cliff Diving
- Taxpayers to buy ... Cheese?
- Four Bad Bears: End of Year Update