Thread: Bottom?

That is a little odd considering he came in after the dirt had already been revealed. How much worse could it have gotten? Maybe it was for personal reasons, like maybe he was a Washington Nationals fan.

Originally Posted by tsptalk

TMaybe it was for personal reasons, like maybe he was a Washington Nationals fan.

You could be right!!

Originally Posted by tsptalk

That is a little odd considering he came in after the dirt had already been revealed. How much worse could it have gotten? Maybe it was for personal reasons, like maybe he was a Washington Nationals fan.

http://wtop.com/?nid=398&sid=1656471

Embarassed over the spelling issue?

Just saw this, maybe my original ponderment was right after all:

April 21 (Bloomberg) -- Fannie Mae and Freddie Mac mortgage delinquencies among the most creditworthy homeowners rose 50 percent in a month as borrowers said drops in income or too much debt caused them to fall behind, according to data from federal regulators.
The number of so-called prime borrowers at least 60 days behind on mortgages owned or guaranteed by the companies rose to 743,686 in January, from 497,131 in December, and is almost double the total for October, the Federal Housing Finance Agency said in a report to Congress today.
Of all borrowers who ended up in default, 34 percent told Fannie and Freddie they were earning less money, about 20 percent cited excessive debt as a reason for missing mortgage payments, and 8.1 percent blamed unemployment, FHFA said.

The stabilization in U.S. home prices won’t last, according to economists at Goldman Sachs Group Inc. in New York. Their counterparts at BofA Merrill Lynch Global Research see a “treat” rather than a retreat.

http://www.bloomberg.com/apps/news?p...d=aVyvAuFInq_Y

According to this article- we're less than half-way through the fall of housing prices. This article says we still have an additional 26% fall ahead in home values.

Property Values Set to Fall 43% From Current Depressed Level


The total projected fall from the Federal Housing Finance Agency (FHFA) “All Transactions Index”, which begins in 1975, shows a peak-to-trend fall of 27%. Since prices are 6% lower by this measure, prices must still fall an additional 23% from today for prices to revert to trend. The assumption built into these estimates is that prices in the years 1975 to 1999 advanced at a typical rate. A trend line was generated to the present based upon that 25-year period. The chart depicts the divergence of the trend established from 1975 to 1999 and the actual prices recorded from 2000 to 2009.

The FHFA prediction of a total fall of 27% is far less than the total fall of between 49% to 60% predicted by Case-Shiller. Based upon the four data sets reviewed in the last few weeks (see summary below), we can estimate a total fall of between 27% to 60% from the bubble top to the long-term trend. The average of the four indexes projects a total fall of 41% from the bubble high to the trend bottom. Looking ahead from today, the average of the four indexes predicts that property values will fall 26% from our current price levels.

More: http://theautomaticearth.blogspot.co...g-america.html

Yes James, that same information turned up elsewhere this past week also. It's not over til its over.

Why This Real Estate Bust Is Different

Until the grandstanders lift the housing credit, houses will continue to be overpriced by at least $8,000. Anybody who bought and sold houses to speculate was an idiot in 1927, an idiot in 2009, and will still be an idiot in 2040.