federal reserve
Blogs by Richard Warren | June 2, 2008Just like the pebble tossed in a pond, a seemingly small event can have catastrophic consequences. The small ripple created when the pebble hits the water can be a wave by the time it reaches the opposite shore. Our current economic state of affairs can be traced back to a few small ripples as well. [...]
Commentary by Charles Feldman | April 9, 2008How is this for a blunt statement: If you are one of those who believes this subprime real estate debacle is going to turn around anytime soon, you are wrong! I’m not saying you are probably wrong. I’m not saying you may be wrong. I’m not even saying that more than likely you are wrong. [...]
Economy by Charles Feldman | March 26, 2008How about some good news for a change about real estate, mortgages, credit, jobs, consumer confidence, Wall Street stability, the future of civilization as we know it? Sorry, not gonna get it here. Evidence is evidence and though some may like to engage in wishful thinking, the evidence is not good at all. Goldman Sachs [...]
Credit by Richard Warren | March 18, 2008There is a law in physics that says: For every action, there is an equal and opposite reaction. The same is true is a rate cut by the Federal Reserve. Many people get excited when the Federal Reserve cuts a key interest rate. They somehow see this as a magic bullet that is going to [...]
Commentary by Joshua Dorkin | March 14, 2008This week has been an extremely volatile one in the world of real estate and the economy. We’ve seen Gold at $1,000 an ounce, a collapsing dollar, oil skyrocketing, an much more. Of everything that has happened, probably the most shocking is what came out of the Fed this week . . . According to [...]
Credit by Charles Feldman | February 6, 2008Once upon a time, having sterling [tag]credit[/tag] meant that banks and other lenders valued your business. No more. The [tag]subprime mortgage[/tag] mess is now impacting even those who spent years building up their credit record, because banks are running scared. A just released Federal Reserve study shows that: “About 55 percent of domestic respondents indicated [...]
Commentary by Charles Feldman | January 12, 2008If the announced planned merger of [tag]Bank of America[/tag] and [tag]Countrywide[/tag] Financial Corp goes through, BofA will be involved in about one in every four mortgage loans in the United States. One in four! Now one way to look at this is, this is a good thing. It will probably rescue Countrywide -described by the [...]
Housing by Charles Feldman | December 19, 2007The Fed Moved! Freaking amazing when you think about it. The first few words to appear in the first paragraph of an updated New York Times posting are :” The Federal Reserve moved…” Now this may seem like a fairly benign statement until you consider this: Had the Federal Reserve moved say, six or seven [...]
Mortgages & Lending by Charles Feldman | December 12, 2007Here’s a quote that should make everyone feel better this holiday season. It’s from the chief domestic economist at Morgan Stanley and is in a report to clients as reported by the New York Times. “A mild recession is now likely, with no growth for the year ahead.” Great. And, based on what the Federal [...]
Housing by Joshua Dorkin | September 21, 2007Alan Greenspan revealed more about his thoughts on the Housing Crisis in Vienna, Austria today: “So far, prices have dropped only slightly. But it was enough to cause alarm around the world,” he said. “Prices are going to fall much lower yet.” “There is no doubt about the fact that low interest rates for long-term [...]
Interest Rates by Joshua Dorkin | September 18, 2007The Fed just announced that it would be cutting the federal funds rate by 1/2 point to 4.75 percent. This is the first reduction in four years and will affect everything from credit cards to adjustable rate mortgages. Clearly this major cut is indicative of how bad the Fed thinks the economy is. It will [...]
Real Estate by Joshua Dorkin | September 7, 2007The Labor Department today reported that payrolls fell by 4,000 in August for the first time in 4 years. What makes matters worse is that estimates were for this number to increase by 110,000. Job losses included those in manufacturing and construction. Clearly, we can see that the housing market is starting to affect all [...]
Commentary by Joshua Dorkin | September 6, 2007The President and others in office continue to tell us how well our economy is doing. Lets take a look at some of the latest news to see how things are
Economy by Joshua Dorkin | August 13, 2007According to the Star-Telegram, lenders in Southern California are scooping up foreclosed properties at a rate much faster then they can get rid of these homes. “At some point — maybe this fall, maybe in 2008 — the lenders’ inventories will grow so large that they will have no choice but to cut prices aggressively, [...]
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Why People Who Think Real Estate Mess Will Soon Improve Are Wrong
by Charles Feldman | April 9, 2008How is this for a blunt statement: If you are one of those who believes this subprime real estate debacle is going to turn around anytime soon, you are wrong! I’m not saying you are probably wrong. I’m not saying you may be wrong. I’m not even saying that more than likely you are wrong. [...]