This was released earlier this morning by RealtyTrac: U.S. Foreclosure Activity Shifts Eastward in April RealtyTrac® … today released its U.S. Foreclosure Market Report™ for April 2012, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 188,780 U.S. properties in April, the lowest monthly total since July...
Read more »
Earlier today the BLS reported: The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in April on a seasonally adjusted basis … The gasoline index fell 2.6 percent in April and accounted for most of the decline in energy, though the indexes for natural gas and fuel oil decreased as well. …...
Read more »
This is an unofficial list of Problem Banks compiled only from public sources. Here is the unofficial problem bank list for May 11, 2012. (table is sortable by assets, state, etc.) Changes and comments from surferdude808: Only one change to report this week to the Unofficial Problem Bank List. A reader pointed out an...
Read more »
There are two minor economic indicators scheduled for release tomorrow. • The Producer Price Index for April at 8:30 AM ET. The consensus is for no change in producer prices (0.2% increase in core). • And at 9:55 AM, the Reuter’s/University of Michigan’s Consumer sentiment index is scheduled (preliminary for May). The consensus is...
Read more »
There are two minor economic indicators scheduled for release tomorrow. • The Mortgage Bankers Association (MBA) will release the mortgage aplications index. • At 10:00 AM, Monthly Wholesale Trade: Sales and Inventories for March will be released. Last Friday I discussed the significant decline in government jobs over the last few years, and posted...
Read more »
Security Bank Once graceful on a tight rope Fell as gator chum by Soylent Green is People From the FDIC: Banesco USA, Coral Gables, Florida, Assumes All of the Deposits of Security Bank, National Association, North Lauderdale, Florida As of March 31, 2012, Security Bank, National Association had approximately 1.0 million in total assets...
Read more »
For the question contest in April, the leaders were: 1) Bill (Calculated Risk) 2) Liye Ma 3) (4 way tie) Billy Forney (Finished 2nd in March) 3) Eggert Ólafsson 3) Makesh Pravin 3) Rik Osmer Congratulations to all. For fun I’ve added a monthly question contest on the right sidebar. It takes a Facebook...
Read more »
A year ago, Dave Altig asked Just how out of line are house prices?. Dr. Altig’s post featured both a price-to-rent graph and a real house price graph originally from the NY Times based on Professor Robert Shiller’s work. The price-to-rent ratio graph Dr Altig presented seemed to show that house prices were getting...
Read more »
From economist Tom Lawler: The Ryland Group, the 8th largest US home builder in 2010, reported that net home orders (including discontinued operations) in the quarter ended March 31st totaled 1,357, up 40.5% from the comparable quarter of 2011. The company’s sales cancellation rate, expressed as a % of gross orders, was 18.0% last...
Read more »
The solid new home sales report this morning is further confirmation that the recovery for the housing industry has started. New home sales are up about 17% from the weakest three month period during the housing bust. That is a significant improvement, even if the absolute levels are still very low. The debate is...
Read more »