Crack of Doom- Week of March 26

John has escaped Doom castle this morning in pursuit of real life activities.  John is generally in charge of Igor’s care and feeding in the morning, so don’t worry if your comments take a little longer to post today.  When I can get Igor to stop chewing on them, I’ll dust off your comments and stick them up.

The New Home Sales Report is out today- and as of Sunday evening, pundits were already declaring that February’s report will be a positive indicator for the market.  According to Bloomberg:

Sales of new homes in the U.S. probably rebounded last month from a three-year low, a sign the worst of the real estate rout has passed.

Expect my take on the numbers later in the morning.  :  )

In the meantime, we’d love your links and observations.  John will be checking in, and I’m sure will be anxious to see what Doomers have found.

I wonder where he left Igor’s leash????

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38 Comments for this entry

  1. jan-martin feddersen says:
    March 26, 2007 at 12:23 AM

    Clear Statements and Rose Colored Glasses
    hussman at its best

    http://www.hussmanfunds.com/wmc/wmc070326.htm

  2. jan-martin feddersen says:
    March 26, 2007 at 12:25 AM

    Foreclosure Tsunami Now in the Pipeline

    http://rebalancing.blogspot.com/2007/03/foreclosure-tsunami-now-in-pipeline.html

  3. jan-martin feddersen says:
    March 26, 2007 at 12:26 AM

    Wimpey, Taylor to Merge in Biggest U.K. Homes Deal,

    http://www.bloomberg.com/apps/news?pid=20601087&sid=ae3oVcaN9x9Q&refer=home

  4. jan-martin feddersen says:
    March 26, 2007 at 12:26 AM

    The Housing Project Update / PIMCO

    http://immobilienblasen.blogspot.com/2007/03/housing-project-update-pimco.html

  5. jan-martin feddersen says:
    March 26, 2007 at 1:25 AM

    Foreclosure Tsunami Now in the Pipeline

    http://rebalancing.blogspot.com/2007/03/foreclosure-tsunami-now-in-pipeline.html

  6. jan-martin feddersen says:
    March 26, 2007 at 2:36 AM

    Flipped in Florida — Selling in a Housing Bust

    http://www.bloomberg.com/apps/news?pid=20601039&sid=aRj2GOnC1Z0k&refer=home

  7. jan-martin feddersen says:
    March 26, 2007 at 2:49 AM

    The Subprime Mess: A Personal Account

    http://www.oftwominds.com/blog.html

  8. John M. says:
    March 26, 2007 at 4:00 AM

    twist -

    Thanks so much for remembering the Monday post. Indeed real life is prominent today, first of all Mrs. M’s birthday! :) Then tomorrow, there’s the musical opportunity of a lifetime. Doomers near Halifax shouldn’t miss the opportunity to see around 200 of my friends and me take on the most exciting large choral work ever written. I know one will be there, because he’ll be standing behind me in the chorus singing bass! ;)

    “Dal musicians take on Requiem”, Halifax (NS, Canada) Chronicle-Herald, March 26, 2007.

    The Dalhousie Department of Music presents Messa Da Requiem by Giuseppe Verdi on Tuesday, March 27 at 8 p.m. at the Rebecca Cohn Auditorium, Dalhousie University.

    Under the direction of Gary Ewer, this performance brings the Dalhousie Chorale and the Dalhousie Orchestra together with soloists Wendy Nielsen, soprano; Marcia Swanston, mezzo soprano; Darryl Edwards, tenor, and Gregory Servant, bass-baritone.

  9. ROpenHouse says:
    March 26, 2007 at 7:40 AM

    Cnn Money is running an article http://money.cnn.com/2007/03/23/real_estate/february_foreclosure_fall/index.htm?eref=rss_topstories

    on the new foreclosure numbers. As usual, they are looking at month to month changes, but the devil is in the details. Look at the year to year changes, not such a rosey picture. Add on top the fact that a bunch of subprime mortgages are coming due (ARM). Not looking too good for March numbers.

    – The Open House Network – ROpenHouse

  10. ROpenHouse says:
    March 26, 2007 at 7:46 AM

    Cnn Money is reporting
    – CNNMoney

    Interesting arcticle on the foreclosure report for Feb. looking at the details, does not look too good to me.

    – The Open House Network – ROpenHouse

  11. jan-martin feddersen says:
    March 26, 2007 at 8:08 AM

    new home sales lowest since june 2000

    http://immobilienblasen.blogspot.com/2007/03/new-home-sales-lowest-since-june-2000.html

    hi john,

    happy birthday to your wife.

    make sure you don´t drink too much…would be too bad when you voice sounds rusty….

    thats at leat my experience from the last weekend… :-)

  12. jan-martin feddersen says:
    March 26, 2007 at 9:36 PM

    Jeff Saut Presents: Texas Hold ‘Em

    http://www.minyanville.com/articles/Boeing-China-Texas+Hold+%27Em/index/a/12455

  13. jan-martin feddersen says:
    March 26, 2007 at 9:55 PM

    ATA Truck Tonnage Index Rose 1.6 Percent in February

    http://www.truckline.com/NR/exeres/DF23F6F0-BBEF-42A3-8844-E822571D0982.htm

  14. jan-martin feddersen says:
    March 26, 2007 at 10:36 PM

    BOJ Is Watching Land Prices for Excess, Fukui Says

    http://immobilienblasen.blogspot.com/2007/03/boj-is-watching-land-prices-for-excess.html

  15. jan-martin feddersen says:
    March 26, 2007 at 10:45 PM

    Housing, Subprime Mortgages, And The Swap To Watch

    http://macroblog.typepad.com/macroblog/2007/03/housing_subprim.html

  16. jan-martin feddersen says:
    March 27, 2007 at 3:18 AM

    Builder Lennar reports 73% profit fall, withdraws 2007 goal

    http://www.marketwatch.com/news/story/builder-lennar-reports-73-profit/story.aspx?guid=%7BCE20E912%2D3B27%2D4690%2DB7CE%2D286AA863BEE2%7D

  17. jan-martin feddersen says:
    March 27, 2007 at 3:43 AM

    just for info from bens blog

    Comment by Title Chica
    2007-03-26 09:03:35
    I work at a title insurance company in Texas and we are having a wild and crazy month. We’re getting daily emails from underwriting – we even got an email from underwriting with a link to the ML-Implode blog saying to keep an eye out for any of our current lenders! Today we got an email telling us to keep an eye out for Indymac and Hibernia.

    We have an escrow unit that handles Fannie Mae foreclosures, and their business is through the roof. The marketing guy who handles lenders has been pulled off the lender beat and told to start hunting the loan servicers who are going to need title work on foreclosures.

    On top of all that, of the four contracts I received today, 2 are short sales.

    Everyone in my office who has a mortgage refinanced in 2004 to a nice low 30 year fixed. We can all just sit back and watch the carnage and hope that not too much splatters us.

  18. jan-martin feddersen says:
    March 27, 2007 at 3:55 AM

    34 percent of homeowners are clueless about their mortgage

    http://biz.yahoo.com/brn/070326/21330.html?.v=1&.pf=loans

  19. jan-martin feddersen says:
    March 27, 2007 at 7:33 AM

    mike larson on cnbc

    link provided in his post

    http://interestrateroundup.blogspot.com/2007/03/spirited-housing-debate-on-cnbc.html

  20. jan-martin feddersen says:
    March 27, 2007 at 7:44 AM

    BNN – MUST SEE TV! / paper money

    http://paper-money.blogspot.com/2007/03/bnn-must-see-tv.html

  21. twist says:
    March 27, 2007 at 8:39 AM

    Jan-Martin,

    #20 Wow. Seiders is usually as bad as Lereah. This is as bearish as I have ever seen him. That tells you it is too difficult to hide the carnage any more.

    L has told me that he is seeing local problems with loans funding. Pendings have been dropping in the last couple of weeks in Phoenix.

    This is not looking good.

  22. jan-martin feddersen says:
    March 27, 2007 at 10:26 PM

    i agree. it was funny that he has just revised his forecast the last week and is now already downgrading it….

    grim reality / pimco

    http://immobilienblasen.blogspot.com/2007/03/grim-reality-pimco.html

  23. jan-martin feddersen says:
    March 27, 2007 at 10:33 PM

    Feds Are Investigating Homebuilder Beazer

    http://www.businessweek.com/bwdaily/dnflash/content/mar2007/db20070327_838032.htm?chan=top+news_top+news+index_top+story

    stock down 17% after hours

  24. jan-martin feddersen says:
    March 28, 2007 at 12:04 AM

    Three Clowns / mish

    http://globaleconomicanalysis.blogspot.com/2007/03/three-clowns.html

  25. jan-martin feddersen says:
    March 28, 2007 at 2:44 AM

    Business Cycle Myths Make Entrance Right on Cue: Caroline Baum

    http://www.bloomberg.com/apps/news?pid=20601039&sid=auWrZNIRpSaI&refer=home

  26. jan-martin feddersen says:
    March 28, 2007 at 8:03 AM

    paper money has a more bnn

    http://paper-money.blogspot.com/2007/03/second-shoe.html

  27. John M. says:
    March 28, 2007 at 10:38 AM

    Jan-Martin (comment #26) -

    When I saw the Paper Money post my first thought was that The Old Lady Who Lived In A Shoe must have bought an investment property. Looking around, I found an effort by “Candelina Candelina” that sounds like a description of Ben Bernanke’s Senate testimony from earlier today.

    There was an old lady who lived in a shoe
    She had so much free time, she didn’t know what to do.
    So she gathered her herbs and her oils and teas
    She put them in her cauldren to see what they’d be.
    She stirred and she stirred til a big cloud of smoke
    Covered her up like an oversize cloak.
    The lady was frightened, enlightened, with no words to say
    She reached for her broom, and flew quickly away!

    Getting a bit punchy today from the shear volume of bubbly news.

  28. jan-martin feddersen says:
    March 28, 2007 at 9:44 PM

    :-)

    how did you perform?

  29. jan-martin feddersen says:
    March 28, 2007 at 10:33 PM

    Kass: Harley Hogs Feed at the Subprime Trough

    http://immobilienblasen.blogspot.com/2007/03/kass-harley-hogs-feed-at-subprime.html

  30. jan-martin feddersen says:
    March 28, 2007 at 11:09 PM

    The Disposable Workforce / mish

    http://globaleconomicanalysis.blogspot.com/2007/03/disposable-workforce.html

  31. jan-martin feddersen says:
    March 29, 2007 at 3:35 AM

    Housing Slump Erodes Budget Gains From Florida to California

    http://www.bloomberg.com/apps/news?pid=20601170&refer=special_report&sid=aaxEGhOqB5eg

  32. John M. says:
    March 29, 2007 at 5:26 AM

    Jan-Martin (comment #28) -

    It was a blast! :) This from Gary: “I hope you are all feeling completely wonderful today after your AMAZING performance last evening. I want to congratulate you for your musicianship, and thank you for your dedication. I had no doubts that you would conquer this piece. Everything was just right… I couldn’t have asked for more from you! This work requires the choir to whisper out the tiniest of pianissimos, and then belt out paint-peeling fortissimos, and you did all that, and everything in between. As I say, I couldn’t have asked for more.”

    The ambiance in the sold out hall was electric, and we really did keep the energy going through the whole work. The local broadsheet has published a rave review this morning.

    “Dal Chorale, Orchestra handle Verdi’s Requiem with volcanic energy”, by Stephen Pedersen, Halifax (NS, Canada) Chronicle-Herald, March 29, 2007.

    Giuseppe Verdi’s Requiem is a powerfully written grand opera in which Christ is the hero, Man the defendant and God the judge and jury.

    Under the direction of Gary Ewer, the Dalhousie Chorale and Orchestra, with soloists Marcia Swanston, Gregory Servant, Wendy Nielsen and Darryl Edwards performed it in the Rebecca Cohn Auditorium on Tuesday to an enthusiastic, jam-packed house.

    The centrepiece of the work depicts Judgement Day, the Day of Wrath (Dies Irae), in a massive movement which begins with Verdi’s highly successful attempt to scare the daylights out of us. The choir virtually shouts out the fateful words in a descending chromatic line [great fun (as linked the other day), we Tenor II's got to do that one] that illuminates the path to Hell like the strip lighting in the aisle of a crashing airplane.

    The hullabaloo swells like a volcano about to burst as five horns, four trumpets, three trombones and a tuba turn up the pressure, aided by four fiery bassoons [they nailed the quartet, heaven knows where Gary found four basoons in Nova Scotia!], pairs of oboes and clarinets, a screaming piccolo and two other flutes (on standby for the solace which comes later on) and strings.

  33. jan-martin feddersen says:
    March 29, 2007 at 6:06 AM

    wow.

    congratulations!

    is Stephen Pedersen your pseudonym…? :-)

  34. Reno Girl says:
    March 29, 2007 at 1:13 PM

    Coming Soon to a Town Near You: Recession?

    http://dianecohn.blogs.com/reno/2007/03/subprime_meltdo.html

  35. jan-martin feddersen says:
    March 30, 2007 at 12:24 AM

    Investing in distress / The vultures take wing / economist

    http://immobilienblasen.blogspot.com/2007/03/investing-in-distress-vultures-take.html

  36. jan-martin feddersen says:
    March 30, 2007 at 12:29 AM

    How Blind can they be? / peter schiff

    http://www.europac.net/externalframeset.asp?from=home&id=8158

  37. jan-martin feddersen says:
    March 30, 2007 at 12:36 AM

    Builders on the block / uk (vs us builders)

    http://immobilienblasen.blogspot.com/2007/03/builders-on-block-uk.html

  38. jan-martin feddersen says:
    March 30, 2007 at 12:40 AM

    Mapping the Problems in Subprime / tim

    http://themessthatgreenspanmade.blogspot.com/2007/03/mapping-subrpime-problems.html

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