Housing Doom Housing Bubble Blog

A nation that forgets its past is doomed to repeat it. - Churchill

August 9th, 2006

A Mystery

Early today I read an Associated Press story to the effect that Fannie Mae will miss it’s second quarter financial report. Now when I go to google news and search |”Fannie Mae” 2q| I get about 40 hits with information like this …

Fannie Mae Delays Filing 2Q Report
Lakeland Ledger, FL - 10 hours ago
Mortgage giant Fannie Mae on Wednesday informed the Securities and Exchange Commission that it would not be able to file its financial report for the second …

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August 9th, 2006

Richmond American’s 30 Year “Fixed” Deal Might Not Be Your Best Deal

(Or why I’d look at renting this house)

It’s a buyer’s market, we are being told. This year’s normalized market is offering us a wide selection of homes to choose from. Builders are offering all kinds of incentives- now is the time to buy"!

Two weeks ago I reviewed the financing offered by Shea Homes in an Arizona Republic ad.  I came to the conclusion that it wasn’t a bad deal- if you didn’t mind doubling your home payment after five years.

This week I again turned to the Arizona Republic’s Home section to find a new deal for home buyers, and it looked like I had a good one- Richmond American :

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