Comments on: NFP Preview

By: donna

donna — Fri, 05 Dec 2008 18:46:51 +0000

Actually, October was revised to over 400K. It’s much worse than we all think. And people are being laid off in December too, rather than hired on for Christmas….

January will be fugly.

By: Mark E Hoffer

Mark E Hoffer — Fri, 05 Dec 2008 15:36:16 +0000

roger,

ever hear of “Option ARM” ‘s ?

IOW: this ‘fact’: “If you were right, than foreclosures wouldn’t be sky high in cities out west with relatively low unemployment.”

doesn’t support your conclusion: “You are wrong, wrong, wrong on the walkaways being a small percentage of foreclosures.”

do us a favor, prove with Data, preferably verifiable..

By: rogerdaily

rogerdaily — Fri, 05 Dec 2008 15:06:14 +0000

Barry

You are wrong, wrong, wrong on the walkaways being a small percentage of foreclosures.

If you were right, than foreclosures wouldn’t be sky high in cities out west with relatively low unemployment.

By: wally

wally — Fri, 05 Dec 2008 13:43:46 +0000

The time has come for ‘mainstream’ economists in the US to admit they have no clue what their ‘science’ is about… Benny B can go first.

By: mike j

mike j — Fri, 05 Dec 2008 13:32:32 +0000

Wow. Horrific. -530 and add on another -80 to that for the October revision. Ouch.

By: cfischer

cfischer — Fri, 05 Dec 2008 13:20:34 +0000

Barry,

To me, it would be a calculated move. How far underwater I am versus what I consider my credit to be worth for the following decade. I value my credit fairly highly, but if I was 150-200k underwater, I’d walk.

By: Mark E Hoffer

Mark E Hoffer — Fri, 05 Dec 2008 13:18:26 +0000

“How can you say that Americans collectively have no savings?”

roger, remember: Reading Is Fundamental.

LSS: he didn’t, see your own quote of what he Did say.

http://www.thefreedictionary.com/virtually
http://www.thefreedictionary.com/likely

By: Barry Ritholtz

Barry Ritholtz — Fri, 05 Dec 2008 13:15:42 +0000

I’d love to see a percentage — how many people voluntarily walk away versus those who are foreclosed upon?

The walkaways are a relatively small % . . .

By: rogerdaily

rogerdaily — Fri, 05 Dec 2008 13:14:08 +0000

Steve Barry – you say:

“CNBC often hypes up the jobs number as being so critical…this time it is an understatement. Since Americans have virtually no savings, a single job loss will likely translate into a foreclosure if they own a home.”

I don’t care for CNBC but are you not the pot calling the kettle black here?

How can you say that Americans collectively have no savings? I know two people who have been laid off and they both have plenty of savings. You must be a Chris Dodd democrat if you believe that foreclosures are solely caused by hardship. Plenty are caused by people CHOOSING to walk away due to no skin the in the game.

By: rww

rww — Fri, 05 Dec 2008 13:11:31 +0000

BR, when do we see the end of the B-D adjustments?