Archive for August, 2008NAR At it Again: Spin ControlCirios Real Estate The National Association of Realtors (NAR) released monthly housing data today that shows existing-home sales in July increased by a seasonally adjusted 3.1%. While this number may seem exciting and could be interpreted as a thaw in the housing crisis, most other data point in the opposite direction. Deeper into the report, [...] HOPE when?Cirios Real Estate Washington’s war on foreclosures, the latest in a string of sycophantic attempts to sway public opinion back in the favor of the very regulators that turned a blind eye to rampant irresponsible lending, is now being waged with carefully crafted press releases. In the past two days, strikingly contradictory reports have emerged [...] National Association of … Really Really Good LiarsCirios Real Estate Housingwire.com reports that pending home sales levels have fallen significantly since this time last year, according to data released by the National Association of Realtors (NAR). The NAR report on the same data is titled “Pending Home Sales Rise, Wider Gains Anticipated….” So where’s the discrepancy? How can the exact same data [...] Morgan Stanley Latest Band-Aid Over Fannie, Freddie’s Bullet HoleThis post first appeared on Minyanville and our sister site Dawn Patrol. It looks like all those short-sellers might have been on to something. Freddie Mac (FRE), the beleaguered mortgage giant that was just weeks ago on the brink of collapse, released second quarter results this morning that were nothing short of abysmal. Along with [...] |