When good policy is defunded

Oh man, this is bad. I mean, really bad. Like one of the worst ideas to flow out of Harrisburg in a long long time.   For those who follow these things, it remains true that Pennsylvania has fared at least relatively well (or how about ‘less bad’) in the vast foreclosure crisis that hit most everywhere in . . . → Read More: When good policy is defunded

Government v Industry

The two charts below from Andy Smith’s (Bache Commodities) latest piece are a humorous use of US house prices to illustrate the problem of Big Government. The first shows the real boom is in Government jobs and lobbying. The second how gold buyers aren’t fooled by America’s shift from productive to unproductive . . . → Read More: Government vs. Industry

A Tale of Two Markets

When I say writing matters, it’s no joke.  I still am trying to figure how these two headlines represent reporting on the same exact new data:

Trib:  Western Pennsylvania home sales plummet during May

PG: House Sales in Region Rise in May

Good thing everyone reads more than the headlines.

Ignore the meta for . . . → Read More: A Tale of Two Markets

The appraiser that saved Pittsburgh

I regret to report what is awful news for the Pittsburgh region. By yet another metric out there, local real estate prices are growing faster than most anywhere else in the nation. If the folks who look at real estate data do not stop spreading such misinformation about the region than who knows what . . . → Read More: The Appraiser That Saved Pittsburgh

Australian Housing to Bust, Eventually

This post by Terry McFadgen on Australian housing prices is a good summary of the question of if/when prices will tank. One thing overseas readers should keep in mind is that Australian borrowers can’t walk away from their debt – the bank can foreclose on you and then go after you or bankrupt you . . . → Read More: Australian Housing to Bust, Eventually

A Real Estate Review

The federal government released its long awaited plan for Freddie Mac and Fannie Mae today, where it announced that it plans to wind down the two companies by slowly increasing their guarantee fees, reducing the maximum amount of money that they can lend on a home, and selling off their existing loans at a . . . → Read More: A Real Estate Review

Home Prices Continue Seasonal Improvement

Seasonal factors play an important part in the monitoring housing prices, pushing up prices during the high traffic months of the spring and summer and pulling them down in the cold of the fall and winter.

The Case-Shiller data on home prices was released on Tuesday. When seasonally adjusted, the data points to an . . . → Read More: Home Prices Continue Seasonal Improvement