The Crack of Doom – Week of April 30, 2007

It’s Monday Morning and the MSM seems fast asleep.  Indeed in France and other countries that take May Day seriously, many "building a bridge" over this isolated business day may not be up for much before Wednesday.

Still, from the condo-beaches of Spain to the New Zealand’s central bank, from the lobbies of Washington DC, Boston, and Albany NY to the upscale suburbs of Mumbai India, faint rumblings are palpable.  If you see anything from a break in the pattern of daily check-mark pattern Dow record smashes to one too many tightenings in South Korea, let us know what’s in the wind.  The Reply box is always open, and Igor is eager for his first anti-spam word of the day.

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21 Comments for this entry

  1. jan-martin feddersen says:
    April 30, 2007 at 1:51 AM

    Double counting

    http://www.hussmanfunds.com/wmc/wmc070430.htm

  2. jan-martin feddersen says:
    April 30, 2007 at 2:06 AM

    Bad news: This bubble is worldwide / fleckenstein

    http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/BadNewsThisBubbleIsWorldwide.aspx

  3. jan-martin feddersen says:
    April 30, 2007 at 2:56 AM

    Housing? What Housing? I Don’t See Any Housing: Caroline Baum

    http://www.bloomberg.com/apps/news?pid=20601039&sid=aKHxvJuBB3FE&refer=home

  4. twist says:
    April 30, 2007 at 7:07 AM

    Dustdevil-

    I’m moving your comment on the Fed rates to this post. One of the hazards of working at one in the morning is I occasionally miss something- like the fact that John already had this post teed up.

    Dustdevil’s comment on the Fed rates:


    They are going to hold the rates. They are to much of a reactionary
    force to make a move. I’ve been foretelling a rate hike for awhile and I
    forget my reasoning, because the FED just kept it the same. Flying in
    the face of what I thought were solid reasons to hike, that I now forget.

    The FED is seriously up against the ropes right now. M. Ali would be
    proud of the rope-a-dope they have seemed to pull off. At some point even
    they will have to make a move and call a spade a spade. The interest
    rate will sink us before the Housing slump will in the short term.

    It just seems that everyone, especially FB’s are too proud to say the
    market is WAY messed up. That is my extremely fragmented answer… I
    need coffee.

  5. jan-martin feddersen says:
    May 1, 2007 at 2:25 AM

    ValueLine Index, Median of Estimated P/E Ratios

    http://immobilienblasen.blogspot.com/2007/05/valueline-index-median-of-estimated-pe.html

  6. jan-martin feddersen says:
    May 1, 2007 at 2:28 AM

    Home-Equity Borrowing Stalls
    As the Housing Market Cools / WSJ

    http://www.realestatejournal.com/buysell/mortgages/20070430-simon.html

  7. jan-martin feddersen says:
    May 1, 2007 at 3:05 AM

    Deficit Attention Syndrome / Contrary Investor excellent!

    http://www.contraryinvestor.com/mo.htm

  8. jan-martin feddersen says:
    May 1, 2007 at 9:50 PM

    Three Strikes And Out, PIMCO on UK CPInflation

    http://immobilienblasen.blogspot.com/2007/05/three-strikes-and-out-pimco-on-uk.html

  9. jan-martin feddersen says:
    May 1, 2007 at 10:39 PM

    A Warning on Risk in Commercial Mortgages
    NYT

    http://immobilienblasen.blogspot.com/2007/05/warning-on-risk-in-commercial-mortgages.html

  10. jan-martin feddersen says:
    May 2, 2007 at 1:40 AM

    Interactive Heatmap Over/Under Valuation Housing

    http://immobilienblasen.blogspot.com/2007/05/interactive-heatmap-housing-overunder.html

  11. jan-martin feddersen says:
    May 2, 2007 at 3:34 AM

    U.K. Mortgage Approvals Fall to Lowest in 11 Months

    http://www.bloomberg.com/apps/news?pid=20601087&sid=aLicDHxBn1g4&refer=home

  12. NVmike says:
    May 2, 2007 at 7:06 AM

    In recent years, many friends in the southern New England (my home area) told me: “Mike! You’re nuts! Median home prices won’t ever fall 25%!”

    Well, guess what?

    Last month:
    Condo Prices Falling

    Bristol, Newport and Washington Counties all reported single-family house sales rose by double-digits in February, but the median prices in all three counties declined. The most dramatic decline was in Bristol, where the median price of a single-family house in February fell 31 percent, to $255,500, compared with $370,250 a year earlier, according to the report.

    This month:
    House Prices Down

    The town-by-town breakdown of sales by real-estate agents showed that on Providence’s East Side, the median house price during the first quarter plunged 26.5 percent, or $152,000, to $422,500 from a year earlier, according to the Association of Realtors.
    …
    A prospective buyer looking for a house in North Kingstown would find the median price during the first quarter down more than 30 percent, to $310,668 . or $134,332 less than a year earlier.

  13. twist says:
    May 2, 2007 at 7:25 AM

    NVMike-

    And if they are including the incentives they are around here [closing costs, etc.] they are probably down even further.

    Those are impressive drops.

    [Sorry about your comments taking so long to post- Igor doesn't trust anyone with more than one link- including John and me!]

  14. NVmike says:
    May 2, 2007 at 8:34 AM

    “impressive drops.”

    Yes, indeed! I hate to admit it, but if I were living there now, I’d probably be out house shopping.

    It finally *is* a good time to buy! (at least in those 3 areas)

    ps: thanks for the heads up re: multiple links.

  15. jan-martin feddersen says:
    May 2, 2007 at 10:23 PM

    Owning a Home in the Suburbs of London / NYT

    http://immobilienblasen.blogspot.com/2007/05/owning-home-in-suburbs-of-london-nyt.html

  16. jan-martin feddersen says:
    May 2, 2007 at 10:25 PM

    shiff vs a nuts guy on cavuto / video

    http://www.europac.net/Schiff-Fox-4-27-07_lg.asp

  17. jan-martin feddersen says:
    May 2, 2007 at 10:36 PM

    M3 in europe / Chart

    http://immobilienblasen.blogspot.com/2007/05/m3-in-europe-chart.html

  18. jan-martin feddersen says:
    May 3, 2007 at 12:39 AM

    UBS Profit Falls as Hedge Fund Losses Hurt Bond Fees

    subprime…..

    http://immobilienblasen.blogspot.com/2007/05/ubs-profit-falls-as-hedge-fund-losses.html

  19. John M. says:
    May 3, 2007 at 5:12 AM

    Jan-Martin (comment #15) -

    You spend part of the year on Long Island, don’t you? That must be almost as crazy.

  20. jan-martin feddersen says:
    May 3, 2007 at 8:10 AM

    hi john,

    i´m glad that i´m living in a town with 22.000 people at the coast in germany.

    looks like aaron´s implode-o-meter is down.

    to many hits?

  21. John M. says:
    May 3, 2007 at 8:25 AM

    Jan-Martin (comment #20) -

    Yes, Implode-O-Meter’s been down all morning. Don’t know why.

Comments are now closed.