Money Markets, CDs, 401ks, and Savings Accounts that Lose Against Inflation: A Society that Punishes Savers.
One of the unintended consequences of this housing market is the punishment conservative savers are taking. Last month we had the rather astonishing release of data from the Bureau of Labor and Statistics telling us for the month, that inflation was at 0 percent. As disconnected as this is from reality, there is a reason […]
$231 Billion in Writedowns and Credit Losses: The List of Mortgage Players Grows Larger.
Yesterday UBS AG said it would write down a staggering $19 billion on assets connected to mortgage assets. The figure is staggering yet the market rallied nearly 400 points on this news. Have we reached a turning point where writedowns simply do not matter? This figure was the largest since the writedowns started last year. […]
Worst Ever Housing Market in California: The Numbers Revealed.
It is clearly no surprise to anyone that housing is in a major slump across the country. What seems to be taking people by surprise is the rapidity of how quickly the market is retracting all the gains that it had made during the previous years. California faced many of the benefits during the peak […]
Housing Market: Case-Shiller 10 City Index Worst Drop Since 1987.
The Case-Shiller Index, which tracks same home sales over a period of time instead of aggregate median prices per month, has dropped nearly 10.7 percent on a year over year basis. Â Most analyst favor the Case-Shiller Index because it looks at a single home and tracks it historically over time giving a better and more […]