Comments on: Foreclosure Filings Rise 71% 3Q 2008 vs. 3Q 2007 http://www.nakedcapitalism.com/2008/10/foreclosure-filings-rise-71-3q-2008-vs.html Sun, 22 Nov 2009 07:56:24 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Flow5 http://www.nakedcapitalism.com/2008/10/foreclosure-filings-rise-71-3q-2008-vs.html#comment-22948 Flow5 Fri, 24 Oct 2008 16:46:00 +0000 http://www.nakedcapitalism.com/2008/10/foreclosure-filings-rise-71-3q-2008-vs-3q-2007/#comment-22948 "since it counts each court filing in the foreclosure process, and any foreclosure involves multiple filings"<br/><br/>(1) The number of foreclosures, and (2) the number of duplicate filings, certainly are not independent from each other (over time, or otherwise). This is true of many economic statistics. “since it counts each court filing in the foreclosure process, and any foreclosure involves multiple filings”

(1) The number of foreclosures, and (2) the number of duplicate filings, certainly are not independent from each other (over time, or otherwise). This is true of many economic statistics.

]]> By: SpeciousRiches http://www.nakedcapitalism.com/2008/10/foreclosure-filings-rise-71-3q-2008-vs.html#comment-22783 SpeciousRiches Thu, 23 Oct 2008 21:07:00 +0000 http://www.nakedcapitalism.com/2008/10/foreclosure-filings-rise-71-3q-2008-vs-3q-2007/#comment-22783 I just wrote about housing this morning. We have just gone through the first wave of subprime ARM mortgage resets. Next up are Alt-A ARM resets. How much different is the credit quality of Alt-A and is it enough to offset the fact that Alt-A issuance peaked later meaning many more Alt-A mortgages are under-water. <br/><br/>And then we have option ARMs... I can't see housing being anything but a major headwind for the economy for the next 5 years at least. Are equities really pricing in no or negative growth for 2 year, maybe more? <br/><br/>I don't know the answers, but if someone can cheer me up by telling me we are near a bottom I would be extremely grateful! <br/><br/>SpeciousRiches<br/>http://speciousriches.wordpress.com I just wrote about housing this morning. We have just gone through the first wave of subprime ARM mortgage resets. Next up are Alt-A ARM resets. How much different is the credit quality of Alt-A and is it enough to offset the fact that Alt-A issuance peaked later meaning many more Alt-A mortgages are under-water.

And then we have option ARMs… I can’t see housing being anything but a major headwind for the economy for the next 5 years at least. Are equities really pricing in no or negative growth for 2 year, maybe more?

I don’t know the answers, but if someone can cheer me up by telling me we are near a bottom I would be extremely grateful!

SpeciousRiches
http://speciousriches.wordpress.com

]]> By: doc holiday http://www.nakedcapitalism.com/2008/10/foreclosure-filings-rise-71-3q-2008-vs.html#comment-22778 doc holiday Thu, 23 Oct 2008 19:06:00 +0000 http://www.nakedcapitalism.com/2008/10/foreclosure-filings-rise-71-3q-2008-vs-3q-2007/#comment-22778 Kind of OT, but:<br/><br/>We just had a huge expansionistic bubble with homes, autos, malls and a tsunami of credit expansion and now, we are to sit back and depreciate this and then re-prime the expansion pump for another tsunami? I guess we will re-value homes, cars, retail goods, etc, but what does this imply for future growth, if the past 8 years of economic expansion, is essentially, exactly like a car being driven off a dealership lot, and then plummeting in value -- what's the point? This obviously supply driven with too much consumption and zero future value, i.e, an Ownership Society that is a Disposable Society that thrives on waste an zero accountability! Bah Humbug!<br/><br/>Re: A capital consumption allowance is that portion of the gross domestic product of a nation that can be attributed to depreciation. In effect, the capital consumption allowance is a means of allowing for the fact that that there is a need for the replacement of resources in order to maintain a given level of productivity in the nation. The capital consumption allowance actually addresses two aspects of the capital of a given country. Kind of OT, but:

We just had a huge expansionistic bubble with homes, autos, malls and a tsunami of credit expansion and now, we are to sit back and depreciate this and then re-prime the expansion pump for another tsunami? I guess we will re-value homes, cars, retail goods, etc, but what does this imply for future growth, if the past 8 years of economic expansion, is essentially, exactly like a car being driven off a dealership lot, and then plummeting in value — what’s the point? This obviously supply driven with too much consumption and zero future value, i.e, an Ownership Society that is a Disposable Society that thrives on waste an zero accountability! Bah Humbug!

Re: A capital consumption allowance is that portion of the gross domestic product of a nation that can be attributed to depreciation. In effect, the capital consumption allowance is a means of allowing for the fact that that there is a need for the replacement of resources in order to maintain a given level of productivity in the nation. The capital consumption allowance actually addresses two aspects of the capital of a given country.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/foreclosure-filings-rise-71-3q-2008-vs.html#comment-22776 Anonymous Thu, 23 Oct 2008 18:37:00 +0000 http://www.nakedcapitalism.com/2008/10/foreclosure-filings-rise-71-3q-2008-vs-3q-2007/#comment-22776 real time stock market calls (bottom) has just been issued. details below:<br/><br/>".... The call is at follows:<br/><br/>2:22PM: with sp500 at 859, Dow at 8244, and Nasdaq 100 at 1178, according to our analysis, the market is at the bottom area.<br/><br/>To your profits!"<br/><br/>http://www.marketwarnings.com/2008/10/dow-sp500-bottom-of-stock-market.html real time stock market calls (bottom) has just been issued. details below:

“…. The call is at follows:

2:22PM: with sp500 at 859, Dow at 8244, and Nasdaq 100 at 1178, according to our analysis, the market is at the bottom area.

To your profits!”

http://www.marketwarnings.com/2008/10/dow-sp500-bottom-of-stock-market.html

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/foreclosure-filings-rise-71-3q-2008-vs.html#comment-22769 Anonymous Thu, 23 Oct 2008 16:28:00 +0000 http://www.nakedcapitalism.com/2008/10/foreclosure-filings-rise-71-3q-2008-vs-3q-2007/#comment-22769 "....$40 billion is nothing. Below are real-time foreclosure stats for CA. Remember, CA is 35% of all defaults and foreclosures by count and 45% by dollar volume. While its nice to see this topic addressed $40 billion is not much considering int he state of CA, total Notice-of-Defaults and actual Foreclosures are averaging about $28 to $30 billion per month. This means on a national level, roughly $70 billion. Given this $40 billion makes for a nice headline but in the grand scheme of things, means very little...." <br/><br/>Quoted from Mr. Mortgage website.<br/>http://mrmortgage.ml-implode.com/ “….$40 billion is nothing. Below are real-time foreclosure stats for CA. Remember, CA is 35% of all defaults and foreclosures by count and 45% by dollar volume. While its nice to see this topic addressed $40 billion is not much considering int he state of CA, total Notice-of-Defaults and actual Foreclosures are averaging about $28 to $30 billion per month. This means on a national level, roughly $70 billion. Given this $40 billion makes for a nice headline but in the grand scheme of things, means very little….”

Quoted from Mr. Mortgage website.
http://mrmortgage.ml-implode.com/

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/foreclosure-filings-rise-71-3q-2008-vs.html#comment-22767 Anonymous Thu, 23 Oct 2008 16:18:00 +0000 http://www.nakedcapitalism.com/2008/10/foreclosure-filings-rise-71-3q-2008-vs-3q-2007/#comment-22767 Good question concerning USAA. I know they changed their membership requirement. Was, an officer in the military. Now, any military with a honorable discharge.<br/><br/>With USAA offering insurance, investment and banking I doubt changing membership requirement was because everything is wonderful. Good question concerning USAA. I know they changed their membership requirement. Was, an officer in the military. Now, any military with a honorable discharge.

With USAA offering insurance, investment and banking I doubt changing membership requirement was because everything is wonderful.

]]> By: Juan Cristobal Federico Chihuahua de la Vega http://www.nakedcapitalism.com/2008/10/foreclosure-filings-rise-71-3q-2008-vs.html#comment-22756 Juan Cristobal Federico Chihuahua de la Vega Thu, 23 Oct 2008 14:55:00 +0000 http://www.nakedcapitalism.com/2008/10/foreclosure-filings-rise-71-3q-2008-vs-3q-2007/#comment-22756 A bit tangential, but one bank I haven't heard about in terms of how they are weathering the financial and mortgage crises (ok, maybe it's just one crisis), is USAA. They seem pretty tight-lipped about their status. Any word out there on them? A bit tangential, but one bank I haven’t heard about in terms of how they are weathering the financial and mortgage crises (ok, maybe it’s just one crisis), is USAA. They seem pretty tight-lipped about their status. Any word out there on them?

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