US investors heaved a sigh of relief overnight, as the Obama administration unveiled a $25 billion settlement with five major home lenders over foreclosure abuses.
US housing market
Maley: Bernanke holds a housing ace
Investors face a nervous few months as they try to work out when US central bank boss Ben Bernanke will play his last remaining trump card — buying up long-term mortgage bonds in an effort to revive the ailing US housing market.
Millions of taxpayers’ dollars propping up non-bank mortgages
The Australian Office of Financial Management, under the auspices of the world’s greatest Treasurer, Wayne Swan, has been spending billions of dollars of taxpayer money propping up the non-bank mortgage sector.
Distressed US housing market a danger to the recovery
It is not a surprise that the US housing sector is deeply depressed.
Will America’s banking wells dry up?
The woes of the troubled US housing market have just increased following a decision by the highest court in Massachusetts which will likely make it more difficult for banks to foreclose on delinquent home loans, writes Karen Maley.
Schwab: Gottliebsen got it wrong on bank executives
Perhaps Business Spectator’s legendary columnist Robert Gottliebsen isn’t reading Steve Keen’s columns (or these ones) particularly closely. If he did, he probably wouldn’t be blaming the bankers’ communication skills for their current public relations foibles.
Political snippets: The tie between bankers and footy club bosses
Central bankers and those other guardians of the world’s monetary system at the International Monetary Fund have one thing in common with the chairmen of football teams.
Maley: the hidden trouble under US housing
Global sharemarkets were cheered by a rebound in US home sales last month but top US officials are grimly aware of the damage that the impending foreclosure debacle is about to unleash, both on the country’s housing market and on its banking system, writes Karen Maley.
A US housing recovery? Get real
Beware anybody who says the housing market in the US is “bottoming.” They are either misinformed or have an agenda, because the decline is continuing and it’s going to be a slow and costly turnaround, writes John Mauldin.
… 10, 9, 8, 7, 6, 5, foreclosure crisis countdown continues
The US foreclosure crisis continues with the “robo-signing” scandal already costing US banks $US50 billion in market value.
Letter from...: Letter from: Las Vegas, land of blue-collar plenty a symbol of US decline
Las Vegas is no longer the exception to the rule and is now a symbol of the broader social and economic problems the United States now faces, writes Crikey reader Clair MacDougall.
No longer safe as houses
The US housing market is recovering post-GFC, but property will never be the guaranteed money maker it once was, warns experts.
Housing still giving Wall Street the wobbles
When I saw Wall Street falling last night under the weight of disappointing economic data it was clear that the housing crisis in the US is still affecting the economy in a way many Wall Street analysts can’t understand, writes Robert Gottliebsen of Business Spectator.
Business As Usual: Ireland emerges from recession … US housing sector is cactus …
A growing economy has led Ireland out of recession, the housing market in the US is still in a bad way and the Slovakia government is a new worry for Europe.
Business As Usual: Chinese economy slowing although leaks save the day … America’s household wealth up … Japan growth looking bright …
World markets rose because of leaks out of China, but world prices for oil, metals and grains were lower , thanks to China importing less and other business news of the day.
Business As Usual: $1b write-down for Foster’s … Rough time for global markets … iPhones for 97 bucks …
Foster’s to separate wine and beer, tens of billions of dollars were wiped off global markets, US consumers are unmoved, a new iPhone is on the way, so the price plummets and other business news.
Business As Usual: Business as usual: Greece still shaking … US investors ignore reality … Murdoch guru quits …
More tremors felt around Greece … US investors are ignoring reality, while interest rates there rose alarmingly and investors ignored a surprise 18,000 rise in the number of weekly jobless benefits … Bankruptcies in Ireland are on the up …
Business As Usual: Moody’s fingers problems in the eurozone … Woes for Lehman auditors …
It looks as if Greece will be supported and stopped from defaulting on its billions of debt, Lehman Brothers sacked a whistle blower just weeks after he raised concerns about accounting practice, the Tiger Woods circus is about to hit the road again, and more business briefs.
Business As Usual: Lehman guilty fingered, News to unload mobile content business
The finger of fate is pointing at those responsible for the collapase of Lehman’s, the bottom has fallen out of the US tomato industry, which in turn is having a disastrous effect on the fast-food business and other business news of the day.
Stop missing the point. Greece is important
The global economy is wound up so tightly that if Greece goes snap, crackle and pop and causes something to break in European markets, there will be shit flying all over the place and a far more devastating GFC will begin.
US hasn’t dodged the banking bullet … yet
The revolutionary war fought by the Americans was rooted in part in the overthrow of a banking order imposed on the colonies. That war continues to this day, writes David Hirst.
Black hole sun not shining on housing, US recovery
The black hole that is the US housing crisis continues to widen, sucking in more and more American homeowners and making a mockery of the confident assertions of politicians, policymakers and the stockmarket that the worst is over.
Despite rebound, US still hasn’t got its housing in order
Stand by for the “two-speed America” story to start emerging: that’s where the rebound in financial markets and on wall Street is way ahead with the sluggish wider economy, especially housing.
Everything’s distorted from inside this housing bubble
During a bubble lots of things appear to make sense which in hindsight, are ludicrous. Like, median housing prices that are so high they are double US housing prices.
Everybody need good neighbours: 32 storeys, one occupant
With a little understanding, you can find the perfect blend of neighbours, right? Except for a 32 storey building in Florida, which thanks to the GFC, is now empty apart from one lonely family.
