Fed Policymakers Expressed Growing Worries Over Housing Slump
WASHINGTON (AP) -- Heightened concern about the harsher-than-expected housing slump was a key factor in the Federal Reserve's decision to hold interest rates steady last month.
Minutes of the Fed's deliberations show that policymakers revealed increased concern over the real estate bust -- even as they were reiterating that their No. 1 aim was to make sure that inflation, which has been calming down, continued to recede.
January 03, 2007
FLASH: 'Soft Landing' my ass... Bernanke and the Fed finally admit housing is crashing hard and they don't know what to do
Subscribe to:
Post Comments (Atom)
14 comments:
Currently not one quarter of recession was reported yet.
This housing drop of 3.5% is nothing like the more than 60% drop in NASDAQ a few years ago. These people did not run out to put up for sale signs on their places merely because the price of their houses went down an average 3.5% over the course of a year. I do not think a full scale panic is called for.
If we start to lose a lot of jobs, then there might be more panic.
Do they ever mention that the subprime market is now 8.8% of all outstadning mortgage debt? What about one trillion in mortgages resetting this year; and the majority of these mortgages are in the subprime market. Of course we know what will happen when the rate goes up 25, 35, or even 45% with these buyers.
Yup, the Fed is essentially looking out the window and telling you the forecast. Forget about them being a gauge into the future since they are partly to blame for this housing bonanza.
"If we start to lose a lot of jobs, then there might be more panic."
There will likely be MANY foreclosures this year as the ARMs reset. That can greatly affect the employment picture. That is a huge influence not to be forgotten.
Here are my comments:
My blog
farmerville321 said...
Currently not one quarter of recession was reported yet.
This housing drop of 3.5% is nothing like the more than 60% drop in NASDAQ a few years ago.
As we are seeing HOUSES are not nearly as liquid as STOCKS. Give it some time.
Did you see the reaction on wall street just before the Fed,s report came out? (hint:somebody thinks interest rates are going up)Somebody's house just got cheaper.
This website has been floating around, but not nearly publicized enough.
http://www.safehaven.com/article-6621.htm
It explains EVERYTHING you need to know about how long this housing crash will last and how horrible it will be....
THE BOTTOM IN HOUSING SLOWDOWN had a HUGE HOLE IN IT. !!!!!!
It`s leaking thru 2007 !!!!
Why buy a falling knife?
Be careful, u might get hurt pretty bad.
New Home Sales: Northeast Meltdown Continues! down an astounding 42.4% as compared to Nov 2005.
New Home Sales: Northeast Meltdown Continues!
Today, the U.S. Census Department released its monthly “New Residential Home Sales” report for November showing continued weakness to the nation’s new home market most notably in the Northeast region where sales were down an astounding 42.4% as compared to November 2005.
Generally reported as showing “strong” signs of market “stabilization”, the report does, in fact, show an increase to the median and average price for a new home but as we all are well aware, the significant incentives that home builders have been offering are NOT reflected in this report so the price movement is a bit of a “red herring”.
Additionally, the report showed significant increases to inventory and months supply on a year-over-year basis.
from:
http://paper-money.blogspot.com/2006/12/new-home-sales-northeast-meltdown.html
Soon, we're going to find out if Bernanke has Voelker sized balls!
I think we should get Pat Robertson's prediction.
By the NewsMax.com Staff
For the story behind the story...
Wednesday, Jan. 3, 2007 7:15 a.m. EST
Pat Robertson: Major Terrorist Attack in 2007
In what has become an annual tradition of prognostications, religious broadcaster Pat Robertson said Tuesday God has told him that a terrorist attack on the United States would result in "mass killing" late in 2007.
"I'm not necessarily saying it's going to be nuclear," he said during his news-and-talk television show "The 700 Club" on the Christian Broadcasting Network. "The Lord didn't say nuclear. But I do believe it will be something like that."
Robertson said God told him during a recent prayer retreat that major cities and possibly millions of people will be affected by the attack, which should take place sometime after September.
Robertson said God also told him that the U.S. only feigns friendship with Israel and that U.S. policies are pushing Israel toward "national suicide."
Robertson suggested in January 2006 that God punished then-Israeli Prime Minister Ariel Sharon with a stroke for ceding Israeli-controlled land to the Palestinians.
Honica?
------------------------------------
The Truth Incarnate said...
blood-lusting jews in israel or fight enough jewish wars for them?
__________________________________________
Steps in persuading people you are smart:
Step 1: Use the word sheeple.
Step 2: Use the term falling knife.
Yep, it's Honica.
__________________________________________
Steps in persuading people you are smart:
Step 1: Use the word sheeple.
Step 2: Use the term falling knife.
Post a Comment