Author Archives: populareconomicsblog
S. California RE Sales Return to 2006 Levels
The Mortgage Corner DataQuick just reported Southern California homes sold at the fastest pace for an April in seven years amid the release of pent-up demand for move-up homes and high levels of investor purchases. This is while April new-home … Continue reading
Consumer Debt Falls to Pre-Recession Level
Financial FAQs The total amount of debt held by Americans fell again in the first three months of 2013 and stood at the lowest level since the middle of 2006, the New York Federal Reserve said Tuesday. The level of … Continue reading
Saving Fannie and Freddie—Part II
Financial FAQs The Federal Housing Finance Authority that supervises the so-called Government Supervised Enterprises (GSE), now including Fannie Mae and Freddie Mac, just announced restrictions that not only weaken Fannie and Freddie’s mandate, but the mortgage and housing markets in … Continue reading
Bank Lending Still Stingy
The Mortgage Corner The Federal Reserve just published its quarterly Senior Loan Officer survey on lending standards by the largest banks. They basically adhere to the strictest Fannie Mae and Freddie Mac guidelines for residential loans, such as minimum 620 … Continue reading
Payrolls Rising with Lower Labor Productivity
Popular Economics Weekly Suddenly it looks like the U.S. economy isn’t stalling. Total nonfarm payroll employment rose by 165,000 in April, and the unemployment rate fell slightly to 7.5 percent from 7.6 percent in March, reported the U.S. Bureau of … Continue reading
Austerinomics, the Anti-Growth Orthodoxy
Financial FAQs The Federal Reserve Open Market Committee has just said it in the press release from its latest committee meeting in an otherwise ‘moderately’ upbeat announcement: “Household spending and business fixed investment advanced, and the housing sector has strengthened … Continue reading
Housing Is Definitely Recovering
The Mortgage Corner In spite of warnings from such as Robert Shiller of Irrational Exuberance fame that housing values could remain stagnant over the next ten years, housing prices are making a comeback, which is boosting economic growth. Some of … Continue reading
Will U.S. Growth Slow in 2013?
Popular Economics Weekly The naysayers are already at it. First Quarter GDP growth was 2.5 percent, slightly below forecasts. So many pundits are now saying it is a repeat of last year and the year before. An initial growth spurt … Continue reading
The Iceland Experiment—A Lesson in Austerinomics
Popular Economics Weekly Today’s parliamentary elections in Iceland will pose a difficult choice for Icelanders. Polls show conservatives have the lead—a so-called Center-Right coalition that was in power when Iceland’s own housing bubble burst and its kronar currency lost most … Continue reading
California Foreclosures Plunging, Sales Rising
The Mortgage Corner The number of California homeowners entering the foreclosure process plunged to the lowest level in more than seven years last quarter, reports DataQuick. The unusually sharp drop in the number of mortgage default notices filed by lenders … Continue reading
