left right politics showbiz tech invest good life gossip fun hot
Mother Jones Hot Air Huffpo Variety Engadget Seeking Alpha Lifehacker TheSuperficial Daily Beast reddit
Daily Kos Michelle Malkin Politico Billboard Boing Boing TheBigPicture Luxist TMZ.com Fark BuzzFeed
ThinkProgress RightWingNews First Read CNN Showbiz Gizmodo FT Alphaville Joystiq Perez Hilton 4chan memorandum
Crooks+Liars Power Line CNN ticker E! Online Techcrunch Josh Brown Kotaku gamer Bastardly Post Secret Techmeme
TalkngPtsMemo Ameri..Thinker Swampland TV Guide Ars Technica 24/7 Wall St. TreeHugger Egotastic hascheezburgr Drudge
The Raw Story NewsBusters The Caucus Ent. News Mashable bloggingstocks Consumerist PinkIsTheNew dooce digg
Wonkette Wizbang fishbowlDC HlywdWiretap Google blog DealBook lifehack.org CelebrityBaby Someth'nAwful trends
Atrios Taki Magazine WashWhisprs DeadlnHllywd Read/Write Jeff Matthews 43folders GoFugYourself Neatorama PSFK
Firedoglake Big Hollywood The Fix MSN Ent. OReilly Radar PhilsStockWorld Autoblog Page Six Cool Hunter BBC
Young Turks IMAO Capital Gains Rot'nTomatoes GigaOM Daily Rec'ng Deadspin BestWeekEver stereogum Timespop
Americablog AceOfSpades Open Secrets Cinematical ProBlogger Zero Hedge DownloadSqd Dlisted CuteOverload media eye
Politicususa Redstate WikiLeaks law Cool Tools Bespoke MediaZone PopSugar Dilbert blog TVNewser
CounterPunch Jawa Report econ law.alltop Scobleizer BtwTheHedges Deviant ArtHollyw'dTuna gapingvoid BuzzMachine
TalkLeft Patterico EconLog Volokh Consp. Apple Blog Minyanville Gothamist x17online DailyGrail MediaGazer
Feministing Townhall.com Freakonomics Legal Insurrec.. Valleywag Fast Money Curbed DailyBlabber Prof. Hex Steve Rubel
PolitAnimal OutsideBeltwy CrookedTimbr Conglomerate mozillaZine RealClearMkts FabSugar Gawker OvrheardinNY MediaBlgNRO
Truthdig Moonbattery MarginalRevo SportsLawBlog Smashing W$J Mktbeat Gridskipper Radar Last.fm Threat Level
Alternet RealClearPoli crime W$J Law BlogTechdirt AbnormalRtrns Material Defamer kottke.org Seth's blog
Media Matters Instapundit CrimeblogsBalkinizationMAKE RandomRoger Sartorialist Jossip PumpkinChuckin mediamatters
The Nation Hugh Hewitt All Crime Credit Slips SrchEngLand Stock Advisors Drink'nMadeEasy Just Jared Maps Mania Newshounds
Maddow Blog PJ Media Smoking Gun FindLaw VentureBeat Slope of Hope Mark Cuban Celebitchy CollegeHumor FAIR

Friday, June 20, 2008

Housing/Subprime/Credit Roundup — June 20, 2008

Items of Interest:

Diana Olick / CNBC Realty Check blog
A Plus Side To The Housing Market After All
-- I like to think I know everything about home prices, but I learned a few things from Prof. Chip Case at a conference yesterday (one of the men behind the Case-Shiller Home Price Index). Case is this fascinating guy whose brain is so swimming with numbers that you can almost see them crawling across his forehead.

Prof. Case showed me a chart of home prices for the top twenty markets in the country---all the numbers I’m used to reporting, but one column I hadn’t seen. The first column was percentage price drops from the peak in 2005-6, the –28 in Las Vegas, the –26 in San Diego, the –25 in Miami.

But the new column was percentage price increases from March of 2000 to March of 2008. Every single market was in the positive, except Detroit, which has its own, non-housing bubble issues. Miami prices are still up 109 percent from 2000. Los Angeles home prices are still up 107 percent from 2000...

Colorado Among Worst For Mortgage Fraud -- The Denver District Attorney's Office receives a new report of mortgage fraud everyday, making Colorado one of the top ten worst states hit by these types of scams, according to the U.S. Justice Department...
Six Quotes from Fannie Mae on the Mortgage Industry --
  1. Upheavals in the market create opportunities across business lines.
  2. Recent capital injection frees FNM to seize opportunities
  3. Time will heal all wounds
  4. Four Steps to kick-start recovery
  5. OFHEO Eases Up the Pressure
  6. Still (primarily) a Traditional Portfolio
Housing Wire:
Bipartisan Support for Housing Bill Still Strong in Senate, Despite Growing Discontent -- A wide-ranging housing and foreclosure assistance package now making its way through the Senate floor has surprisingly resilient support, as sources told Housing Wire Friday that despite growing questions over Congressional ties to special mortgages offered by Countrywide Financial Corp. (CFC: 4.73, -2.07%) and the threat of a Presidential veto, the package remains broadly supported by most Republicans and Democrats....
Courant.com [Conn.]:
Sen. Dodd's Negligence -- Call it Sen. Christopher J. Dodd's sin of omission.

The senator and his wife, Jackie, got a very good deal when they refinanced their East Haddam and Washington, D.C., homes through Countrywide Financial Corp. in 2003. Actually, it was an extraordinarily good deal.

Conde Nast Portfolio magazine reports that the Dodds received a five-year adjustable-rate mortgage on their Washington townhouse of $506,000 at 4.25 percent and a $275,000, 10-year adjustable-rate loan on their East Haddam home at 4.5 percent...
Smart Ways To Profit From Foreclosures -- With 700,000 bank-owned homes on the market, and another one million in some state of foreclosure, according to RealtyTrac, an Irvine, Calif., provider of foreclosure listings, you might be tempted to add a distressed property to your portfolio.

Beware. Buying a home in foreclosure is not for the meek. Those with an appetite for risk, however, will find the tumultuous market stocked with plenty of investment opportunities.

These may include the sale of brand new luxury homes in an upscale Nashville community for half their marked value or a bank giving away a foreclosed property in a poor Detroit neighborhood for back maintenance...

Calculated Risk

MishTalk - Mike Shedlock

Paul Krugman - NY Times

The Big Picture - Barry Ritholtz

naked capitalism - Yves Smith

Pragmatic Capitalism

Washington's Blog

Safe Haven

Paper Economy

The Daily Reckoning - Australia