Government sponsored and bailed out Fannie Mae and Freddie Mac are partying, as Gretchen Morgenson reports:NYT: Fannie and Freddie, Still the Socialites, by Gretchen Morgenson, Oct. 15, 2011Nothing wrong with a bit of schmoozing. But it might see… more »
Felix Salmon, on Reuters, worries about the fact that an new bond, Springleaf Mortgage Loan Trust, with subprime loans in the portfolio is rated Triple-A by Standard & Poors whereas the US is not:Reuters: Why the triple-A subprime bond is bad new… more »
WSJ: Europe's Greek Stress Test; The longer banks hold rotten paper, the likelier a second financial crisis becomes, by John H. Cochrane And Anil Kashyap, University of Chicago, June 17, 2011..."The story centers around James Johnson, a Democratic sa… more »
Here is a fascinating article about the role of the rating agencies prior to the crisis:
NYT: Rating Agency Data Aided Wall Street in Deals, by Gretchen Morgenson and Louise Story, April 23, 2010
Here just an excerpt about the "customer client dyna… more »
Who ever tells that Fannie and Freddie were not an enhancing element of the US financial crisis..
Bloomberg: Fannie, Freddie Ask Banks to Eat Soured Mortgages, March 5, 2010
Fannie Mae and Freddie Mac may force lenders including Bank of America Cor… more »
Time: Fed Removes Cap for Fannie, Freddie Aid, Dec. 24, 2009
The government has handed its ATM card to beleaguered mortgage giants Fannie Mae and Freddie Mac.
The Treasury Department said Thursday it removed the $400 billion financial cap it will p… more »
Guardian.co.uk: Property market hasn't collapsed because banks can't face the truth, by Ruth Sutherland, Lenders are still extending credit to commercial developers because they simply can't afford to crystallise their losses, Nov. 22, 2009
"Commercia… more »
This is a worrisome development. Should it turn out that China has a lot of wasteful investment, growth of the country could be substantially effected. We pointed at this danger on MarketObservation already years ago.FT: Fears of China property bubbl… more »
Source: Standard & Poors
The improvement in the Case Shiller as shown above is not evidence enough that the turning point is reached. As Calculated Risk explains, the figures as shown above are not seasonally adjusted. According to Calculated Risk… more »
The Big Picture (through S&P) reports that the Case Shiller for November 2008 showed a 18.2% decline y/o/y for the 20 city Home Price Index. The index is now down 25% from its price highs of July ‘06.
The Big Picture: Residential Real Estate Price… more »
The Guardian: UK construction activity hits new low, Jan. 5, 2009
The misery in Britain's construction industry has deepened, with activity shrinking at the fastest rate since records began more than a decade ago.
Falling house prices and a shortag… more »
Reuters: Home prices fall 18 percent in October, Dec. 30, 2008
"Prices of U.S. single-family homes in October plunged a record 18.0 percent from a year earlier, according to the Standard & Poor's/Case-Shiller Home Price Indices released on Tuesday… more »
NYT: Downturn Ends Building Boom in New York, Dec. 26, 2008
Nearly $5 billion in development projects in New York City have been delayed or canceled because of the economic crisis, an extraordinary body blow to an industry that last year provided 130,… more »
The fall in commercial real estate prices might result in the next wave of write offs at major banks:
The Guardian: Next to go? Commercial property in crisis as City faces a chill winterGlut of premises and falling demand leave landlords facing 50% fa… more »