by admin
Tuesday Links Blame the Rich
October 20, 2009 in News To Us
Looking At Mortgage Delinquencies – The Big Picture, Barry Ritholtz
Fitch Projects More RMBS Re-Defaults as HAMP Disappoints – Housingwire
The Shoddy Statistics of Super Freakonomics – The Washington Post
…The problem with Super Freakonomics is it prefers an interesting story to an accurate one. This is evident from the very first story on the very first page of the book.
An Orwellian “Free Market” Economy – The Housing Bubble Blog
Safety Nets for the Rich – The New York Times, Bob Herbert
Housing and the Economy - Calculated Risk, CR
Those expecting a “V-shaped” or immaculate recovery – with unemployment falling sharply in 2010 – are clearly expecting single family housing starts to rebound quickly to a rate significantly above 1 million units per year.
Not. Gonna. Happen.
There are just too many excess housing units for a rapid recovery in new home sales and single family housing starts. Yes, new home inventory has declined significantly, and existing home inventory has also decreased (although still very high). But there are also a record number of vacant rental units – with the vacancy rate approaching 11% – and the housing inventory includes these units too.
Related posts:
- Housing Starts Fall Below Expectations in June Housing starts in June were at a disappointing 549,000 pace, well below economists' expectations of 580,000....
- Housing Starts Fall 10% in May This number is way below expectations and doesn't bode well for near-term jobs......
- Tuesday Links Cooling Off Home Prices Increase for the Fourth Straight Month – HousingWire But anyone expecting continued increases the rest of the year...
- California’s economy to see sluggish recovery this year, according to UCLA economists California’s unemployment rate, currently at 12.4 percent, will not return to single-digit levels until 2012 and the state’s inland areas...
