[mEDITate-OR:
or not see that some thing are not changing..
and others are, maybe for the better, or maybe not.
In the first article:
CR provides U.S. with their monthly C-S charts.
the third CS chart is almost unique to CR.
note - you WILL want to go to CR's web site to view the larger version of that chart !
This blog either cannot or will not "attach" the larger charts or show them to you.
The second CR article:
sets forth the case, as CR sees it that the home buyer credit is a failure.
While we do understand their point of view, they are wrong.
Just as forcing FMae&FMac to continue to MAKE home loans to U.S.
provided U.S. with the ONLY sources of home loans since July 08...
the point of the home buyer credit was to GET people thinking about buying new homes.
The fact is that they DID do that...
and many more homes were sold than would otherwise have been.
If it were ONLY for the psychological value to U.S. to have young couples, with kids...
driving around, with or without RE agents, LOOKING at homes right next to you...
as opposed to the moving trucks TAKING your neighbors life, liberty & property away...
Bluntly, the "cost" to U.S. of doing this for ourselves...
was a fraction of what the bank & auto bailouts cost U.S.
or the US$ 125 Billion we dropped into or onto AIG.
It was expensive, true; but it WAS necessary.
The third article:
"announces" a new, non-governmental source for home loans.
Before you decry a new ARM housing bubble...
look at "the terms" of these new RE loan packages.
These are NOT "risky" loans, that they are, finally, willing to make.
Three years ago over 50% of our RE loans were private "securitized" loan packages.
They disappeared, completely, in Jan 08.
Whether or not you think that FMae&FMac should, or should not, be privatized.
THIS non-governmental competition is good.
Why we NEED strong Savings & Loans AND credit unions...
to compete with the likes of Countrywide/BoA; WAMU/Chase and Wachovia/Wells.
What amazes me, still, is how few of U.S. really understand what having "competition" means to our nation, and to our abilities to live, work and consume what WE want to.
Too many assume that living in a "Capitalistic" nation means that their is any true "economic competition".
Recently, we learned that over 80% of ALL the food sold/available to U.S. is distributed by less than 5 companies.
Where you shop is less important than WHERE they get it from.
Point:
you may not think that we can legislate "morality"...
but, for [y]our food..., WalMart can...
if they choose to do that for/to U.S.
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The first graph shows the nominal not seasonally adjusted Composite 10 and Composite 20 indices (the Composite 20 was started in January 2000).
The second graph shows the Year over year change in both indices.
The third graph shows the price declines from the peak for each city included in S&P/Case-Shiller indices.
Prices decreased (SA) in 15 of the 20 Case-Shiller cities in February.
Prices in Las Vegas are off 55.7% from the peak, and prices in Dallas only off 6.0% from the peak.
Note: Congratulations to S&P: the new release format is excellent.
Prices in Las Vegas are off 55.7% from the peak, and prices in Dallas only off 6.0% from the peak.
Note: Congratulations to S&P: the new release format is excellent.
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