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ha ha - yeah, the missus says she hopes I haven't gone all AC-DC on her
WASHINGTON (MarketWatch) — U.S. house prices fell 0.5% in July to the lowest level in nearly six years, according to data released Wednesday by the Federal Housing Finance Agency.
U.S. home prices dropped 3.3 percent in July from a year earlier, the eighth consecutive decline , as foreclosed properties flooded the market.
LONDON (MarketWatch) — Ireland on Tuesday saw its borrowing costs rise, but managed to sell 1.5 billion euros ($2 billion) of government bonds in an auction viewed as an important test of sentiment against a backdrop of renewed worries over euro-zone sovereign debt.
The average yield on the 2014 bond was 4.77%, while the average yield on the 2018 bond was 6.05%. That compares to an August auction for the 2014 bond that produced a yield of 3.63% and a June sale of the 2018 issue that produced a 5.09% yield.
U.S. home seizures reached a record for the third time in five months in August as lenders completed the foreclosure process for thousands of delinquent owners, according to RealtyTrac Inc.
Bank repossessions climbed 25 percent from a year earlier to 95,364, the most since the Irvine, California-based data provider began keeping records in 2005.
Foreclosures are contributing to a growing housing supply that may add as many as 12 million homes to the U.S. market. Demand is crumbling amid high unemployment and following the expiration of a federal homebuyer tax credit in April. Sales of new and existing homes fell in July to the lowest level on record.
“We’re on track for a record year for homes in foreclosure and repossessions,” Rick Sharga, RealtyTrac’s senior vice president, said in a telephone interview. “There is no improvement in the underlying economic conditions.”
Good effort boys, time to take some profits??
Market sell-offs in the last few months have coincided with Fed meetings ie Ben would like to tell the Market, in a round about sort of way, that we are stuffed! Fire up the copter for some more money drops......in light of such positive economic news -
ie relief that Ireland will now pay 25% more (in 1 month!) in interest for their play money ? Similar story for Portugal. An omen for the US? Compensation for risk and the cost of debt is rising but the stock markets still defy gravity? I forgot - there is a 'recovery' underway, all back to normal??
95,000 A MONTH! Nice recovery?
OF - we seem to be going OK. Our central bankers have behaved well and much better than Greenspan and big Ben. The only worry over here is that we are now one big hole - mining. If China has any problems in the near future then look out below. I feel for you guys in good ole US of A - people must be hurting bad.
I don't know if any of you live in the USA, but in my opinion, there is no recovery in progres here. I live in Florida, and it is very bad right now as far as housing and unemployment, with no relief in sight.
I hope you Aussies are doing better than us.
I thought 'oldFart' was classic Aussie slang... so I presumed you were Aussie!
But now that I think about it, maybe it was English and they exported it to Aus and probably the US too!
Anyway OldFart, good to have you as an insider on US affairs.
been quiet here lately. lots of bad news coming out of Europe, would've thought there would be a bit of bearishness amongst the campers - but I guess the little bearded man with the printing machine has everyone thinking we're safe for now
Yep. Safe as houses. US houses. Good time to buy!
been quiet here lately. lots of bad news coming out of Europe, would've thought there would be a bit of bearishness amongst the campers - but I guess the little bearded man with the printing machine has everyone thinking we're safe for now
http://www.ritholtz.com/blog/2010/11/california-muni-bond-fund-shellacking/
looks like another bear signal for you sinner
The 'known unknowns' becoming 'known'?
Capitalism is insolvent.......
http://www.ritholtz.com/blog/2010/11/california-muni-bond-fund-shellacking/
looks like another bear signal for you sinner
Alright bugger it. I will make an AUD call and nobody can stop me:
Until the next major credit crisis occurs in the US (Corporate Bonds blowup or State/Muni Bonds blowup would be my two top picks) the price of AUD will remain coupled to gold and equities prices.
So until gold is convincingly breaking 1120, don't bother shorting unless you expect to wake up to the next Lehman tomorrow (and hey, I wouldn't fault you).
Yep. Maybe this is a Chinese version of Animal Farm?I would argue that what we have is corporate socialism, not true capitalism.
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