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

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Real Estate Broker/Owner
RECENT BLOG POSTS
According to CNNMoney.com, the State of California is blowing through the $100 million that they set aside to be used as $10,000 tax credits for new home sales. Since its inception in March, over $80 million of the $100 million has been "spoken" for.  It was supposed to last through March of 2010...
06/14/2009
CNBC.com reported this past week that according to Harvard University professor Elizabeth Warren, the Congressionally-appointed panel chair overseeing the Troubled Asset Relief Program (TARP), said that, "We've already blown past the worst-case scenario on unemployment". The bank stress test had ...
06/13/2009
With the government and the Fed talking about a second half economic recovery and Jim Cramer telling everybody that the housing market is currently at a bottom, its nice to see that not every person of influence has swallowed their financial compass. According to Reuters, Goldman Sachs CEO Lloyd ...
06/11/2009
The Mortgage Bankers Association announced on Wednesday that the 30-year fixed rate mortgage surged to 5.57% from the previous week at 5.25%.  This is the highest rate for the weekly survey since the week of November 26th of 2008 when the 30-year was at 5.99%. What is interesting is that despite ...
06/11/2009
According to RealtyTrac's Rick Sharga, recent foreclosure activity over the past three months has been "unprecedented". As a result of broad-based forecloure moratoriums that expired in March, there have been approximately one million foreclosure filings over the past three months.  To give this ...
06/11/2009
According to the Mortgage Bankers Association and their weekly survey of applications, mortgage purchase applications are holding steady despite a recent surge in mortgage rates. The purchase application index rose 1.1% from last week to 270.7 despite the 30-year fixed rate mortgage surging from ...
06/10/2009
The Supreme court put the breaks on the Chrysler bankruptcy proceedings today delaying a sale to Fiat and potentially opening up a significant showdown between Chrysler's secured bond holders and the government about the rule of law and TARP. Not only could this showdown affect Chrysler's sale to...
06/08/2009
For the past couple of months I have been writing about the "real" unemployment rate, the U-6 rate, the rate that no major media outlet seems to know about or wants to write about. This past month, the U-6 unemployment rate surged to 16.4%.  The rate includes: 1.)  Marginally attached workers - p...
06/08/2009
According to an article in The New York Times by Robert Shiller of the Case-Shiller home price index, the recent government bank stress tests were in the anticipation of a 41% fall in home values.  The tests also included a "more adverse" drop of 48 percent from the high water mark in 2006. In 20...
06/07/2009
Apparently if you can't sell your home, all you have to do is rent it for...$7,500. The AP reported this past week that Treasury Secretary Tim Geithner elected to rent his home out rather than continuing to attempt to sell it and take a significant loss. After originally listing the property for ...
06/07/2009
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