"The Fed, the falling dollar and the commodities boomTHE spirit of St Augustine hovered over the Federal Reserve this week. ?Oh Lord, let us stop cutting interest rates, but not yet,? is pretty much what America?s central bankers decided on Wednesday April 30th. The Fed?s governors cut their policy rate by another quarter-point, to 2%. But the accompanying statement gave a small hint that they may now pause. There are plenty of reasons to stop cutting. Real interest rates are now firmly negative. Although the housing market continues to contract, the economy is limping rather than slumping. According to initial GDP estimates released on Wednesday, output grew at an annualised rate of 0.6% in the first three months of the year?the same pace as in the previous quarter and faster than most people expected. The mix of growth was not good. Final sales fell while firms built up their stocks, which bodes ill for future output. But with tax-rebate cheques arriving in the mail, a dose of fiscal stimulus is imminent. ..." (2008-5-1)
May 1, 2008
Bernanke's bind
April 29, 2008
Fannie's CEO: Lenders Threw Prudence Out the Window
"Fannie Mae's Daniel Mudd says we shouldn't expect the housing slump to end until 2010.
" (2008-4-29)
Home Prices Fall 12.5%-Plus in February
"February marked more steep price declines for existing homes, according to S&P; first-quarter foreclosures soar, according to RealtyTrac.
" (2008-4-29)
Closely-watched housing price index drops
"A closely watched index shows that U.S. home prices fell by 12.7 percent in February versus last year, with 17 of the 20 metro areas reporting record annual declines." (2008-4-29)
Home foreclosure rate continues ugly climb
"The number of U.S. homes heading toward foreclosure more than doubled in the first quarter from a year earlier." (2008-4-29)
April 27, 2008
Some tips on setting price so house will attract buyer
"What's it worth? Do's and don'ts for sellers on how to set the best asking price: - Don't base the price on what you paid or what your neighbor got a few years ago. - Do examine the prices of homes for sale in your neighborhood, as well as the...
" (2008-4-27)
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