Archive for antispin
Media and Market Overreact As Usual to Weaker Housing Data
The mainstream financial media breathlessly proclaimed the worst housing data in x months this morning, on the release of the Commerce Department’s monthly new home sales data. I won’t go… Read more
Mainstream Media Gets It Wrong; In Unintentional Truth-Telling, NAR Shows House Market Strengthening
NAR data for May confirms earlier data from CoreLogic, Dataquick, and Department of Numbers.com that housing prices continued to make new 12 month highs in May and that, contrary to the mainstream… Read more
Bank of America Freddie Mac and Fannie Mae Denials for Modification Sent Out In Error due to ‘System’ Mistake
Letters have been going out erroneously to borrowers with Bank of America letterhead stating the following: Bank of America, N.A. 5401 N Beach St TX2-977-01-34 Forth Worth, TX 76137 borrower… Read more
Bernanke Successfully Re-Inflating Housing, Unbeknownst To Shiller
Adapted from the Wall Street Examiner. There were two major housing data releases today. One of them is important. The other was a misleading misdirection play, as it usually is. Due to its… Read more
Builder Indexes Down In April, But Trend Is Still Up
The dark and dirty job of pointing out that the NAHB Housing Market Index present conditions index is up 11 points versus last April and traffic is up 5 points falls to me, I guess. The mainstream… Read more
Principal Reductions and Loan Modification without Hardship Requirements
Mr. DeMarco, who is the head of the FHFA and is a Republican, sees such a large moral danger in people cheating by going late on their mortgage to get a principal reduction and applying for a loan… Read more
Interpreting The Head-Scratching Unemployment Claims Data
Adapted from The Wall Street Examiner. Actual, not seasonally adjusted, initial unemployment claims totaled 319,349 last week, according to the Department of Labor tabulation of weekly data… Read more
CoreLogic Data Shows House Price Declines Slowing
CoreLogic’s data for January closed house sales (mostly November contracts) shows a year over year decline of 3.1% nationally. the month to month decline was 1%. However, the 12 month rate of… Read more
IN CASE OF SHILLER, BREAK (Out This Article)
The Case Shiller housing price index was released this morning and, as usual, it’s getting lots of media attention. I have no problem with that, except for one minor detail. It is a worthless and… Read more
“What Ronald Reagan said about the federal government…” (Mtg. Regs Update)
I’m sure that at some point in your life, you’ve heard the three biggest lies in the world…. “Your check is in the mail.” Or: “I promise I’ll respect you in the morning.” And as… Read more
