Posted by Larry Doyle on May 30th, 2012 7:41 AM |
As I pondered what to write this morning, I thought about addressing the 15% pullback in the price of gold over the last three months. What was happening to this supposedly safe haven? Despite this pullback, gold is still up 135% over the last 5 years. Time to look for a more interesting topic.
Let’s turn our gaze to the southeast and address what can only be described as the CRASH of the Atlanta housing market.
While nationwide home prices were down 1.9% over the last 12 months, our home owning friends in Atlanta experienced close to an 18% cliff dive in home values during the same time period. (more…)
Posted by Larry Doyle on February 2nd, 2012 11:57 AM |
I find myself in a daily battle not to write cynically about our economy and the political dynamic within our nation.
Just this morning I find myself wanting to rail on the Obama administration’s latest efforts to support housing when past efforts have been such enormous disasters.
How enormous? I cannot help myself……. (more…)
Posted by Larry Doyle on June 20th, 2011 8:07 AM |
Over the last few years I have highlighted the fact that the deflationary impact of declining wages and home values gave cover to the Federal Reserve for maintaining an excessively easy monetary policy and pumping up asset prices via quantitative easing. That party would now seem to be over. Why?
There is no doubt that Fed chair Bernanke’s easy money has played an integral role in the inflation we are experiencing at the pump, in the supermarket, and across a number of other commodities.
As we continue to navigate the U.S. economic landscape circa 2011 and beyond, the ongoing decline in home values in many regions of our nation now would seem to be setting the table for an inflationary spike in housing costs. How so? What is going on here? (more…)
Posted by Larry Doyle on August 24th, 2010 11:58 AM |
Our nation rests on a foundation of entrepreneurial risk taking. I am a strong proponent that our government should work to promote those who have the minds and spirit to take risk and drive our nation’s future economic growth ever higher. That spirit has brought us untold gains over the years. We need to continue to tap into that spirit whenever and wherever we can. On a day in which we just reported that existing home sales dropped 27% in the month of July, I believe it is timely that we tap into this ‘spirit’ and address another alternative housing finance solution.
I referenced the need for real entrepreneurial spirit the other day in writing, A Proposed Solution to the Foreclosure Crisis:
With the Conference on The Future of Housing Finance being held in Washington today, do we really expect the government to propose anything that may help support or fix our system of housing finance? (more…)
Posted by Larry Doyle on June 17th, 2010 12:23 PM |
Jobs and housing remain the key components to our economic future. Why do I believe we are in for a long and winding road as we navigate the economic landscape? The prospects for real improvements on both these fronts are not positive.
Just this morning, initial jobless claims ratcheted back up to 472k.
In regard to housing, if a picture speaks a thousand words, then the pictograph provided after the fold is a short novel. Despite the information provided here, this Wall Street Journal graph does not capture the full picture of our nation’s housing dilemma. (more…)
Posted by Larry Doyle on April 29th, 2010 3:34 PM |
Despite all reports to the contrary, markets in general and housing in particular are ultimately a function of supply and demand. On that note, why isn’t the housing market poised to truly do better anytime soon? The overhang of housing supply due to ongoing strategic mortgage defaults is increasing. These strategic mortgage defaults are much more a factor in the prime-Jumbo market segment than the conforming or sub-prime mortgage market. (more…)
Posted by Larry Doyle on April 14th, 2010 10:10 AM |
Charity is one thing. Throwing good money after bad is an entirely different can of worms.
Is the Obama administration’s housing policy trying to be charitable in support of those who have truly fallen on hard times and need government assistance, or is it more redistributing wealth to those who made unwise financial decisions from the outset? Do Obama and team know the difference? (more…)