I nearly swallowed my wad a couple of years back when past-master NL thief Tim Raines’ old gang was almost bought out by a consortium backed in part by Frank’s (no relation) Fannie swag. Now over at Little Brother tenure at the analysis department is starting to look a bit like entitlement …
BL/BW (6/22 ’05): “Housing Bubble — or Bunk? Are home prices soaring unsustainably and due for plunge? A group of experts takes a look — and come to very different conclusions”
Frank Nothaft, chief economist, Freddie Mac:… Housing is local, local, local by nature, and it’s the local economy driving valuation of a home. The large markets people think about — New York, Boston, San Francisco, Los Angeles, and Washington D.C. — where we’ve seen double-digit home-value gains in the last three or four years, are driven by economic growth and rising family income, coupled with a 40-year low in mortgage rates.
Nearly six years later and still batting leadoff for Team Positive Thinking …
WSJ (5/26 ’11): “Freddie: Mortgage Rate Index Down Again As Prices Near Bottom”
“U.S. house prices indexes may be nearing a bottom soon,” Freddie Mac Chief Economist Frank Nothaft said, pointing to slower price declines in recent months and a reduction in the serious delinquency rate.
UPDATE: Believe it or not, I wrote the above before learning of reports that Einhorn may be buying the Mets.
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