Real Estate Archive

Mortgage Rates Likely Headed To 4.5%

Government action to shore up the economy and improve the housing climate probably will send mortgage rates to 4.5 percent, Bill Gross, co-CEO at the Pimco bond fund, said Monday. In addition to driving down mortgage rates and stimulating home-buying, the government’s efforts also could include a move to cap Treasurys rates

Will Americans Change Their Spending Habit

Wealth Daily had an interesting article about where Americans stand on spending. It’s no longer wimpy to save, and it may not be so cool to spend. At least that’s the story several new sets of data tell as the market meltdown continues to change our economic attitudes. The U.S. household savings

No End In Sight: More And More Bad News

ECONOMY The Labor Department reported that jobless claims jumped by 32,000 to a seasonally adjusted 493,000 last week The Commerce Department said that new orders to factories for big-ticket manufactured goods fell by 4.5 percent last month The average price of a new home fell in August by 11.8 percent to $263,900,

The Stock That ROCKed

Gibraltar Industries, Inc. (ROCK) engages in the manufacturing, processing and distribution of residential and commercial building products, and processed metal products for industrial applications. ROCK is a great example of how when a stock starts reversing, there is no looking back. I shorted ROCK yesterday at $22.77 when it looked to have

U.S. Pending Home Sales Probably Fell in March for Second Month

Bloomberg has latest story about US Pending Home Sales: U.S. Pending Home Sales Probably Fell in March for Second Month Fewer Americans probably signed contracts to buy previously owned homes in March for the second consecutive month as falling prices and tougher loan rules discouraged buyers, economists said before a report today.

Credit Crunch Hurts Hedge-Fund Stars

WSJ: Credit Crunch Hurts Hedge-Fund Stars David Tepper, founder of hedge-fund firm Appaloosa Management LP, saw a negative 17% return last quarter in two funds with more than $6 billion in assets combined as bets on distressed debt went awry, according to fund documents. His Appaloosa Investment and Palomino funds gave up

US Home Prices In 2009

Bloomberg has a story about Greenspan’s take on US home prices: Greenspan Says U.S. Home Prices May Stabilize in 2009 Former Federal Reserve Chairman Alan Greenspan said the drop in U.S. home prices will probably end well before early next year as the number of houses on the market diminishes, aiding an

New Home Sales: Why Do Investors Care

New home sales measure the number of newly constructed homes with a committed sale during the month. The level of new home sales indicates housing market trends and, in turn, economic momentum and consumer purchases of furniture and appliances. Why Do Investors Care?This provides a gauge of not only the demand for

Interesting Stories Of The Day

Taxpayers May Be Liable for Billions From Bear, Mortgage Rescue Even as the Bush administration insists it won’t risk public funds in a bailout, American taxpayers may already be liable for billions of dollars stemming from Federal Reserve and Treasury efforts to quell a financial crisis. History suggests the Fed may not

Weekly Economic Calender

Series of events listed for this week: The Standard & Poor’s/Case-Shiller national home price index for January will be released Tuesday. On the housing front, the latest quarter’s results from Lennar Corp. (LEN) and KB Home (KBH) are due Thursday and Friday, respectively. The Conference Board’s Consumer Confidence Index for March will