The Blog of Author Mark MacKenzie: It's The Housing Market, Stupid!

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Real Estate Broker/Owner

ARCHIVED BLOG POSTS

2008 

Doug Duncan, the chief economist at Fannie Mae said yesterday in reaction to the government's new plan to buy up mortgages, "House price declines and interest-rate declines make housing more affordable. But the bottom line problem is not that people need to refinance, we need to sell some houses ...
12/04/2008
The AP reported yesterday that Trump Casino will miss a scheduled loan payment as it attempts to renegotiate new terms with the lender. Trump Entertainment Resorts is trading at .28 cents a share this morning. When asked if the company could seek Chapter 11 protection, Trump replied, "I don't kno...
12/02/2008
This is what CNBC's Larry Kudlow had to say yesterday in regards to the government's bailout bonanza, "Once again, I repeat, government cannot spend our way into prosperity.  However, strengthening incentive rewards would boost the animal spirit of investors and businesses to put risk money back ...
12/02/2008
I know this post is likely to get some negative or differing feedback, and that's fine - but please read the entire blog post if you are going to respond. I have had a lot of feedback from other agents about the mortgage rate debate in response to some of my other posts so I wanted to dedicate on...
12/02/2008
At a speech today in Austin, TX, Federal Reserve Chairman, Ben Bernanke said, "Although further reductions...are certainly feasible, at this point the scope for using conventional interest rate policies to support the economy is obviously limited." In other words, monetary policy which the govern...
12/01/2008
Secretary Paulson came out today and said, "Given that we have essentially guaranteed Fannie Mae and Freddie Mac securities, the rates on those securities -- and corresponding mortgage rates -- have not come down as much as we may have hoped." Wow. First of all, call me a skeptic, but even if the...
12/01/2008
Wasn't it just about a week ago that Citigroup accepted yet ANOTHER round of capital injections from the Fed, this time in the amount of $20 billion ($45 billion total if you include the original bailout from TARP) along with some asset guarantees? And now I read today on CNBC that Citi went out ...
12/01/2008
For the first time in eight months, the month's supply of housing increased for the city of Phoenix. The month's supply of housing is the relationship between the supply (listings) and demand (the number of properties sold in the past 6 months) for real estate; it is the leading indicator of futu...
12/01/2008
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Mark MacKenzie

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