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Tag Search Results For 'housing sector' (45)
U.N. Says World Economy on Brink
Busted: Bankers and the Digital Economy | May 15th 2008 by TNTalk
The U.N. says the world economy is “teetering on the brink” of a severe downturn. The U.N.’s mid-year economic projections blamed the downturn on further deterioration in the U.S. housing and financial sectors in the first quarter. read more
Taxpayer Bailout For Distressed Homeowners Right Around Corner?
Boom2Bust.com | March 5th 2008 by Christopher E. Hill
Earlier today, Bloomberg’s John Brinsley talked about how U.S. Treasury Secretary Henry Paulson may find it necessary to revise his strategy for dealing with record U.S. home foreclosures after Federal Reserve Chairman Ben Bernanke urged lenders to read more
Economic Crunch (The Ice Cream)
Boom2Bust.com | March 4th 2008 by Christopher E. Hill
I’m a sucker when it comes to ice cream. I absolutely love it, even when it’s freezing outside. While I never turn away any kind of ice cream (“give it to Mikey, he’ll eat anything”) I often eat Ben & Jerry’s Ice Cream from Vermont. read more
Home Buyer Tax Credits Needed To Jump Start Housing And The Econo…
RealEstateFacts.org | February 28th 2008 by RealEstateFacts
With the housing industry facing its greatest crisis since the Great Depression and the economy teetering near recession, the National Association of Home Builders (NAHB) today called on Congress to move quickly to enact a second round of economic st read more
Former Clinton Official Says U.S. In Recession, Will Be ‘Severe…
Boom2Bust.com | February 28th 2008 by Christopher E. Hill
On Tuesday, Nouriel Roubini, chairman of Roubini Global Economics LLC and former Treasury Department director in the Clinton administration, spoke with Bloomberg’s Michael McKee and Deirdre Bolton from Washington about Federal Reserve Vice Chairman read more
Tide Turning On Manhattan Real Estate?
Boom2Bust.com | February 27th 2008 by Christopher E. Hill
Until recently, Manhattan, an island borough of New York City and the most densely-populated county in the United States, appeared to have weathered the housing bust sweeping across the United States. In the fourth quarter, the average price of a Ma read more
Tough Times For U.S. Banks And Thrifts
Boom2Bust.com | February 26th 2008 by Christopher E. Hill
Earlier today, data compiled by the Federal Deposit Insurance Corporation showed profits at federally-insured banks and thrifts plunged to a 16-year low in the fourth quarter as these institutions set aside a record-high amount to cover losses from b read more
Rise Of The Underwater People
Boom2Bust.com | February 22nd 2008 by Christopher E. Hill
Back on February 12, I wrote about underwater mortgages (owing more that the house is worth) in the post “Turning Japanese.” I said: Earlier today, Reuters reported that more than 30% of U.S. homeowners who bought in the last two years owe more read more
Americans See Real Earnings Fall
Boom2Bust.com | February 22nd 2008 by Christopher E. Hill
This past Wednesday, Associated Press business writer Ellen Simon wrote “Workers see inflation-adjusted earnings fall 1.2% for year” in USA Today. Simon reported that inflation-adjusted earnings for the average American worker have fallen 1.2% o read more
European Banks Say U.S. In Recession
Boom2Bust.com | February 21st 2008 by Christopher E. Hill
According to Reuters earlier today, Daniel Bouton, the chairman and CEO of French bank Société Générale, said that the U.S. economy is in a recession already. The head of one of France’s oldest banks said, “There is a recession in the U.S. f read more
No Sympathy For Wall Street
Boom2Bust.com | February 20th 2008 by Christopher E. Hill
“Shanna, they bought their tickets, they knew what they were getting into. I say, let ‘em crash.” -Airplane! (American comedy film. 1980) I have this strange feeling that Washington Post columnist Steven Pearlstein is not Wall Street’ read more
New Poll: More Than Half Of Americans Expect Recession
Boom2Bust.com | February 20th 2008 by Christopher E. Hill
Earlier today, a Reuters/Zogby poll showed that a majority of Americans expect a recession in the next year in light of the housing slump, growing inflation, and tightening credit conditions. The survey of 1,105 likely voters found that 54% of respon read more
Fed Official Says Economy Similar To Aftermath Of Nineties’ Rec…
Boom2Bust.com | February 19th 2008 by Christopher E. Hill
This morning, CNN Money reported that Gary Stern, the head of the Minneapolis Federal Reserve, said in a speech last Friday in Minneapolis that the slumping U.S. economy is reminiscent of the aftermath of the 1990-1991 recession. The regional Fed pr read more
Bank Of America Chief: ‘Even Chance’ U.S. In Recession
Boom2Bust.com | February 18th 2008 by Christopher E. Hill
Last Thursday, the Charlotte Observer reported that Bank of America’s chief executive Kenneth Lewis told an audience at North Carolina State University that there is an “even chance” the U.S. is already in a mild recession, according to prepare read more
Latest U.S. Economic Forecast: Apocalypse
Boom2Bust.com | February 18th 2008 by Christopher E. Hill
Peter Brimelow from MarketWatch talked about Harry Schultz, the highest paid investment consultant in the world, and his International Harry Schultz Letter this morning. For those of you not familiar with Mr. Schultz, I wrote about him back on Decem read more
The Tax Rebate: Spend Or Save?
Boom2Bust.com | February 13th 2008 by Christopher E. Hill
It’s official. Earlier today President Bush signed a $168 billion “economic stimulus” package that will extend rebates to American taxpayers, give tax breaks to businesses, and make more-expensive mortgages available through government and gov read more
Having Fun— At Housing’s Expense
Boom2Bust.com | February 13th 2008 by Christopher E. Hill
This morning I came across the following post on Yahoo! Answers. I’ll let you decide whether the author was joking or not. The replies, however, were both serious and goofy (to say the least): How can I buy a house that I cannot afford. All my frie read more
Weird Housing Tales, Part 3
Boom2Bust.com | February 12th 2008 by Christopher E. Hill
According to Reuters yesterday, a member of the luxury home builder Toll Brothers’ founding family is trying to walk away from an agreement to buy a new condominium— from Toll Brothers. Martha Graybow wrote in “Toll relative walks away fro read more
Turning Japanese
Boom2Bust.com | February 12th 2008 by Christopher E. Hill
I was afraid this would happen. Back in 2005, I read an article on the Investment U website entitled “The Real Estate Bubble End Result: Is a Bust Headed This Way?” On March 28, 2005, Dr. Steve Sjuggerud talked about the Japanese housing bubble read more
Can Boomers Save The U.S. From Recession?
Boom2Bust.com | February 11th 2008 by Christopher E. Hill
As the United States teeters on the brink of recession, some wonder if the Baby Boomers can rescue us through their propensity to spend. A Reuters piece that appeared in the New Zealand Herald on February 8 tried to answer this question. According read more
Merrill Lynch, Morgan Stanley Talk Recession
Boom2Bust.com | February 8th 2008 by Christopher E. Hill
Last night Reuters reported that despite U.S. monetary policy easing, equity and credit markets are suggesting it’s too late to avoid a recession, according to economists at Morgan Stanley. Analysts Luca Bindelli and Stephen Jen said in a research read more
Betting The Farm On A Farm
Boom2Bust.com | February 8th 2008 by Christopher E. Hill
Even though I live in the concrete jungle, I’ve heard that farmland prices have been doing phenomenal. On Monday, Lynn Hicks and Jerry Perkins of USA Today wrote that even though U.S. home prices continue to slide, the value of farmland is setting read more
Mr. and Mrs. Too Much Home Buyer
Boom2Bust.com | February 7th 2008 by Christopher E. Hill
Do you like Bud Light’s “Real Men Of Genius” commercials (previously “Real American Heroes”)? You know, “Mr. All You Can Eat Buffet Inventor” and “Mr. Really Bad Toupee Wearer.” For a good laugh, check out “Real Financial Heroes read more
Growing Number Of Economists Say Recession Is Here
Boom2Bust.com | February 7th 2008 by Christopher E. Hill
Earlier today, MarketWatch reported that Nigel Gault, U.S. chief economist for Global Insight, now believes the U.S. economy is in a recession. Massachusetts-based Global Insight is recognized as the most consistently accurate forecasting company in read more
No Signs Of Housing Recovery
Boom2Bust.com | February 7th 2008 by Christopher E. Hill
The National Association of Realtors released their latest housing numbers this morning. More bad news. Home prices are likely to decline in 2008 for the second straight year. According to CNN Money, the Realtors, in their monthly economic and sal read more
State Budgets Hit Hard By Housing Bust, Slowing Economy
Boom2Bust.com | February 6th 2008 by Christopher E. Hill
Back on January 28, I read in Bloomberg that the Washington D.C.-based research group The Center on Budget and Policy Priorities announced half of all U.S. states were projecting budget deficits for the next fiscal year as the U.S. economy slows and read more
Gold: Not So Precious? Part 1
Boom2Bust.com | January 31st 2008 by Christopher E. Hill
Last summer, I came across an article in the Wall Street Journal that talked about diversification in an investment portfolio. On August 15, Jonathan Burton wrote in “What Your Portfolio Really Needs” that stocks and bonds are essential to a dive read more
The Next Bubble?
Boom2Bust.com | January 30th 2008 by Christopher E. Hill
One text that helped shape my outlook on the U.S. economy was America’s Bubble Economy: Profit When It Pops, by Eric Janszen, Cindy Spitzer, David Wiedemer, and Robert Wiedemer. In the book, the authors argued that not one, but several financial b read more
Rate Cuts: Fastest Easing Of Monetary Policy Since 1990
Boom2Bust.com | January 30th 2008 by Christopher E. Hill
Surprise, surprise. This afternoon, the Federal Reserve lowered the federal funds rate by 50 basis points to 3%. U.S. financial markets were hoping for a rate cut of this magnitude, and stocks responded by shedding earlier losses and climbing highe read more
The ‘Dream’ Of Homeownership
Boom2Bust.com | January 29th 2008 by Christopher E. Hill
Back on December 16, 2003, President Bush talked about the importance of homeownership to the national interest: This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is read more
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