Comments on: Foreclosures Up 18% http://www.ritholtz.com/blog/2009/06/foreclosure-up-18/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 16:09:43 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: CRA Thought Experiment | The Big Picture http://www.ritholtz.com/blog/2009/06/foreclosure-up-18/comment-page-4/#comment-187056 CRA Thought Experiment | The Big Picture Fri, 26 Jun 2009 10:30:17 +0000 http://www.ritholtz.com/blog/?p=28744#comment-187056 [...] South side or DC slums or inner city Philly; Rather, it hs been non-CRA regions — the Sand States — such as southern California, Las Vegas, Arizona, and South Florida. The closest thing to an [...] [...] South side or DC slums or inner city Philly; Rather, it hs been non-CRA regions — the Sand States — such as southern California, Las Vegas, Arizona, and South Florida. The closest thing to an [...]

]]> By: fusionbaby http://www.ritholtz.com/blog/2009/06/foreclosure-up-18/comment-page-4/#comment-182749 fusionbaby Fri, 12 Jun 2009 22:37:04 +0000 http://www.ritholtz.com/blog/?p=28744#comment-182749 Unemployment will continue; bankruptcies too; mortgage rates are going up; gas is going up; consumers are cutting back; over 1 million alt-a and option arms will be recasting/resetting from 2010-13; banks are holding back and hiding their non-performing assets and will start releasing them soon; and there are probably more negative drivers I'm not considering. The upshot... home prices are on the decline and will be for many years. The only way the gov could stop this deflationary pressure and its consquences would be to pay everyone's mortgage off for them. Starting in the early 90's, home prices continued to fall in Japan for close to 15 years. There may be some points in the not too distant future where some will declare that we've reached a bottom in residential real estate. Be wary. There won't be a bottom for many many years to come. Biggest housing collapse in the history of the USA and we are in it. Unemployment will continue; bankruptcies too; mortgage rates are going up; gas is going up; consumers are cutting back; over 1 million alt-a and option arms will be recasting/resetting from 2010-13; banks are holding back and hiding their non-performing assets and will start releasing them soon; and there are probably more negative drivers I’m not considering. The upshot… home prices are on the decline and will be for many years. The only way the gov could stop this deflationary pressure and its consquences would be to pay everyone’s mortgage off for them. Starting in the early 90′s, home prices continued to fall in Japan for close to 15 years. There may be some points in the not too distant future where some will declare that we’ve reached a bottom in residential real estate. Be wary. There won’t be a bottom for many many years to come. Biggest housing collapse in the history of the USA and we are in it.

]]> By: How the Common Man Sees It http://www.ritholtz.com/blog/2009/06/foreclosure-up-18/comment-page-4/#comment-182349 How the Common Man Sees It Fri, 12 Jun 2009 03:34:46 +0000 http://www.ritholtz.com/blog/?p=28744#comment-182349 I believe the problem with gold is that those various and sundry gold storage depots are the places that the ETFs and others store their gold is it not. Thus if the gold is missing then those ETFs and other large gold holders really are only paper promise tigers with no real claws backing them. It kinda makes me glad I've stuck to companies that have gold in the ground still (aka miners). Those are the safer vaults This is what many of the paranoid gold bugs have talked about. The danger of trusting the same ones who have manipulated to gold market to store gold and give out honest certificates of deposits was considered crazy. The risk, though, was supposed to be from confiscation, not outright theft I believe the problem with gold is that those various and sundry gold storage depots are the places that the ETFs and others store their gold is it not. Thus if the gold is missing then those ETFs and other large gold holders really are only paper promise tigers with no real claws backing them. It kinda makes me glad I’ve stuck to companies that have gold in the ground still (aka miners). Those are the safer vaults

This is what many of the paranoid gold bugs have talked about. The danger of trusting the same ones who have manipulated to gold market to store gold and give out honest certificates of deposits was considered crazy. The risk, though, was supposed to be from confiscation, not outright theft

]]> By: The summer sequel: Foreclosures Pt. 5 « Stocks Go Up. Stocks Go Down. http://www.ritholtz.com/blog/2009/06/foreclosure-up-18/comment-page-4/#comment-182284 The summer sequel: Foreclosures Pt. 5 « Stocks Go Up. Stocks Go Down. Fri, 12 Jun 2009 00:00:09 +0000 http://www.ritholtz.com/blog/?p=28744#comment-182284 [...] Filings are up 18%: US Foreclosure filings (default notices, scheduled auctions and bank repos) were 321,480 U.S. properties during May 2009. [...] [...] Filings are up 18%: US Foreclosure filings (default notices, scheduled auctions and bank repos) were 321,480 U.S. properties during May 2009. [...]

]]> By: TheTradingReport » Blog Archive » Weekly Market Wrap Up http://www.ritholtz.com/blog/2009/06/foreclosure-up-18/comment-page-4/#comment-182280 TheTradingReport » Blog Archive » Weekly Market Wrap Up Thu, 11 Jun 2009 23:47:54 +0000 http://www.ritholtz.com/blog/?p=28744#comment-182280 [...] http://www.ritholtz.com/blog/2009/06/foreclosure-up-18/ [...] [...] http://www.ritholtz.com/blog/2009/06/foreclosure-up-18/ [...]

]]> By: manhattanguy http://www.ritholtz.com/blog/2009/06/foreclosure-up-18/comment-page-4/#comment-182257 manhattanguy Thu, 11 Jun 2009 22:56:20 +0000 http://www.ritholtz.com/blog/?p=28744#comment-182257 I think blow out of Latvian economy will start a dangerous domino effect in Scandinavia and Eastern Europe. This might have an impact on Euro. Might be positive for USD though. http://www.rgemonitor.com/economonitor-monitor/256636/latvia_will_it_start_a_dangerous_domino_effect I think blow out of Latvian economy will start a dangerous domino effect in Scandinavia and Eastern Europe. This might have an impact on Euro. Might be positive for USD though.

http://www.rgemonitor.com/economonitor-monitor/256636/latvia_will_it_start_a_dangerous_domino_effect

]]> By: Onlooker from Troy http://www.ritholtz.com/blog/2009/06/foreclosure-up-18/comment-page-4/#comment-182244 Onlooker from Troy Thu, 11 Jun 2009 22:30:14 +0000 http://www.ritholtz.com/blog/?p=28744#comment-182244 LB re: http://www.ritholtz.com/blog/2009/06/foreclosure-up-18/comment-page-4/#comment-182208 That is quite the spike on the Rydex charts ain't it? That and so many other indicators are sooo overbought and bullish here. It was all a bad dream! :) LB re: http://www.ritholtz.com/blog/2009/06/foreclosure-up-18/comment-page-4/#comment-182208

That is quite the spike on the Rydex charts ain’t it? That and so many other indicators are sooo overbought and bullish here. It was all a bad dream! :)

]]> By: Onlooker from Troy http://www.ritholtz.com/blog/2009/06/foreclosure-up-18/comment-page-4/#comment-182242 Onlooker from Troy Thu, 11 Jun 2009 22:27:27 +0000 http://www.ritholtz.com/blog/?p=28744#comment-182242 manhattanguy Damn! I knew I should have bought those puts on that spike to 960! :) It will certainly be interesting if we get an actual, meaningful correction in the market soon. It all just seems so pat lately. Everybody expects a small correction that gets bought aggressively by the fund managers with performance anxiety and new money from the average Joe/Jane who want in on all this new found bullishness. And then we're off to those new highs of 1000-1100 (and higher estimates as we go higher). But the market never quite plays to the script does it? And this would a very unusual looking bear market bottom by historical standards if indeed we get no lower than 10% or so from here. Interesting times indeed. manhattanguy

Damn! I knew I should have bought those puts on that spike to 960! :)

It will certainly be interesting if we get an actual, meaningful correction in the market soon. It all just seems so pat lately. Everybody expects a small correction that gets bought aggressively by the fund managers with performance anxiety and new money from the average Joe/Jane who want in on all this new found bullishness. And then we’re off to those new highs of 1000-1100 (and higher estimates as we go higher). But the market never quite plays to the script does it? And this would a very unusual looking bear market bottom by historical standards if indeed we get no lower than 10% or so from here. Interesting times indeed.

]]> By: Good News Economist http://www.ritholtz.com/blog/2009/06/foreclosure-up-18/comment-page-4/#comment-182241 Good News Economist Thu, 11 Jun 2009 22:26:43 +0000 http://www.ritholtz.com/blog/?p=28744#comment-182241 Some areas of the country actually reported double digit **drops** April to May. Foreclosure filings in Illinois dropped nearly 20%. Foreclosure filings in Illinois also dropped nearly 20%. There were even year over year drops. Foreclosures in Rhode Island for the month dropped 26.9% compared with May 2008. And in Massachusetts foreclosures were down 45.7% from the same period last year. http://bit.ly/r8FVU ~~~ <strong>BR</strong>: Why would you build an a bias to your analysis? Some areas of the country actually reported double digit **drops** April to May. Foreclosure filings in Illinois dropped nearly 20%. Foreclosure filings in Illinois also dropped nearly 20%.

There were even year over year drops. Foreclosures in Rhode Island for the month dropped 26.9% compared with May 2008. And in Massachusetts foreclosures were down 45.7% from the same period last year.

http://bit.ly/r8FVU

~~~

BR: Why would you build an a bias to your analysis?

]]> By: manhattanguy http://www.ritholtz.com/blog/2009/06/foreclosure-up-18/comment-page-4/#comment-182239 manhattanguy Thu, 11 Jun 2009 22:16:14 +0000 http://www.ritholtz.com/blog/?p=28744#comment-182239 Oil is selling off after hours. Goes with my equity prediction for tomorrow based on the bearish candle today. Oil is selling off after hours. Goes with my equity prediction for tomorrow based on the bearish candle today.

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