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	<title>Housing Doom</title>
	<link>http://housingdoom.com</link>
	<description>"He who defends everything defends nothing." - Frederick the Great</description>
	<lastBuildDate>Sat, 07 Nov 2009 07:01:20 +0000</lastBuildDate>
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		<title>AEI Subprime VI: Q&amp;A</title>
		<description><![CDATA[Well I think at some point we&#8217;re going to have a government in power that&#8217;s going to make a choice between the American people and our creditors, who are predominantly foreign. And I think that choice will involve letting the dollar depreciate. I don&#8217;t think we&#8217;ll ever actually repudiate our debts, as long as we [...]]]></description>
		<link>http://housingdoom.com/2009/11/07/aei-subprime-vi-qa/</link>
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		<title>Vampire Squid? Heck No. Think $2.6 Billion Medicinal Leech!</title>
		<description><![CDATA[To that end, FHFA has informed Fannie Mae that a possible transfer of a portion of its LIHTC investments to unrelated third-party investors is consistent with FHFA&#8217;s ongoing efforts to conserve Enterprise assets and with the Enterprise&#8217;s multifamily housing mission. &#8230; FHFA Acting Director Edward J. DeMarco, November 5, 20091
Many thanks to twist for data-mining [...]]]></description>
		<link>http://housingdoom.com/2009/11/06/vampire-squid-heck-no-think-26-billion-medicinal-leech/</link>
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		<title>Fannie Mae- &#8220;Give us the deed, we&#8217;ll give you a lease&#8221;</title>
		<description><![CDATA[I&#8217;m not sure what to make of Fannie&#8217;s new &#34;Deed for Lease&#34; program: [Thanks Coffee!]

WASHINGTON, Nov. 5 /PRNewswire-FirstCall/ &#8212; Fannie Mae (NYSE: FNM) is  implementing the Deed for Lease(TM) Program under which qualifying  homeowners facing foreclosure will be able to remain in their homes by signing a  lease in connection with the [...]]]></description>
		<link>http://housingdoom.com/2009/11/05/fannie-mae-give-us-the-deed-well-give-you-a-lease/</link>
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		<title>The Cost Of Not Walking Away From An Underwater Mortgage</title>
		<description><![CDATA[&#160;
In the ongoing debate about whether one should walk away from an underwater mortgage or not, one University of Arizona professor speaks out strongly in favor of taking a hike. According to Brent T. White, an associate professor of law at the University of Arizona:

A failure to grasp the true economics of the situation is [...]]]></description>
		<link>http://housingdoom.com/2009/11/05/the-cost-of-not-walking-away-from-an-underwater-mortgage/</link>
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		<title>post-Capitalism&#8217;s Self-Righteous Oligarchs</title>
		<description><![CDATA[&#8220;The injunction of Jesus to love others as ourselves is an endorsement of self-interest,&#8221; Goldman&#8217;s Griffiths said Oct. 20, his voice echoing around the gold-mosaic walls of St. Paul&#8217;s Cathedral, whose 365-feet-high dome towers over the City, London&#8217;s financial district. &#8220;We have to tolerate the inequality as a way to achieving greater prosperity and opportunity [...]]]></description>
		<link>http://housingdoom.com/2009/11/04/post-capitalisms-self-righteous-oligarchs/</link>
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		<title>How Critical Is The Home Buyer Tax Credit?</title>
		<description><![CDATA[Fraud might be rampant in the program, but that didn&#8217;t stop the Senate from voting 85-2 in favor of extending the home buyer tax credit.&#160; Why is it that the Senate is so willing to extend this expensive program?&#160; Here&#8217;s an example from Savannah, GA as to how the credit is affecting the market:

The housing [...]]]></description>
		<link>http://housingdoom.com/2009/11/04/how-critical-is-the-home-buyer-tax-credit/</link>
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		<title>Twist:  Doing My Bit For Democracy</title>
		<description><![CDATA[It&#8217;s election day, and I&#8217;ve decided to try being a poll worker this year.&#160; I&#8217;ll be at the polls until closing, so if anything looks interesting, please leave a comment and let us know.&#160; Consider this an open thread.

&#160;
]]></description>
		<link>http://housingdoom.com/2009/11/03/twist-doing-my-bit-for-democracy/</link>
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		<title>AEI Subprime VI: Panel Discussion</title>
		<description><![CDATA[So, you know, there&#8217;s nothing for safety and soundness like a comfortable oligopoly. We might think about that and &#8230; we&#8217;re planning, for those of you who are interested, a conference, coming up in a few months, contrasting the Canadian house finance and financial system with the American system. So there&#8217;s a little advert &#8212; [...]]]></description>
		<link>http://housingdoom.com/2009/11/03/aei-subprime-vi-panel-discussion/</link>
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		<title>Crack of Doom: Pandemic Launches Dow Right Back Towards 10k</title>
		<description><![CDATA[Clorox Co.&#8217;s earnings rose 23% for its fiscal first quarter on improved profit margins and increased sales of disinfecting products caused in part by concerns over the H1N1 flu virus. - WSJ1
Talk about creative destruction, looks like these guys are gonna lead us on to permanent prosperity  


&#8212;&#8212;&#8212;&#8212;&#8211;
[1]: &#34;H1N1 Boosts Clorox&#8217;s Earnings&#34;, by Tess [...]]]></description>
		<link>http://housingdoom.com/2009/11/02/crack-of-doom-pandemic-launches-dow-right-back-towards-10k/</link>
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		<title>New National Fraud To Save Housing Market?</title>
		<description><![CDATA[This tongue-in-cheek solution for reviving housing sounds as likely as any of the other schemes out there:

Now that we have a new (and improved) tax credit of $6500 rolling through Congress to the &#34;move up&#34; buyers we&#8217;ll see if government can incentivize that class to start daytrading homes as well.&#160; The only issue is so [...]]]></description>
		<link>http://housingdoom.com/2009/11/02/new-national-fraud-to-save-housing-market/</link>
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		<title>AEI Subprime VI: Lachman Presentation</title>
		<description><![CDATA[Doom Transcripts: Index &#38; Guide
Housing Doom is pleased to present a sixth selection from our under-construction transcript of the American Enterprise Institute&#8217;s October 22, 2009 event &#34;The Deflating Bubble, Part VI: The Lessons of the Bubble and Crisis&#34;.1
The event site has a number of resources, including an audio and video of the proceedings.  There [...]]]></description>
		<link>http://housingdoom.com/2009/11/02/aei-subprime-vi-lachman-presentation/</link>
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		<title>Fed Unwilling Or Unable To Bailout Commercial Real Estate?</title>
		<description><![CDATA[With the notable exception of Lehman Brothers, it has seemed that there wasn&#8217;t much that the Fed wasn&#8217;t willing to bailout, backstop or guarantee.&#160; Friday however, the Federal Reserve released a Policy Statement On Prudent Commercial Real Estate Loan Workouts.&#160; Tyler Derden of Zero Hedge had an interesting read of this statement.&#160; He said of [...]]]></description>
		<link>http://housingdoom.com/2009/11/01/fed-unwilling-or-unable-to-bailout-commercial-real-estate/</link>
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		<title>AEI Subprime VI: Makin Presentation</title>
		<description><![CDATA[I think almost by definition we&#8217;re &#8230; I mean I would say W, because I think in the US anyway we&#8217;ll still see a 3 1/2 percent growth number in the 3rd quarter, which will be reported next week, and maybe a 3 percent number in the 4th quarter &#8230;
Doom Transcripts: Index &#38; Guide
I do [...]]]></description>
		<link>http://housingdoom.com/2009/10/31/aei-subprime-vi-makin-presentation/</link>
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		<title>AEI Subprime VI: Roubini Presentation</title>
		<description><![CDATA[Final risk. The increasing asset prices we&#8217;ve seen since March for everything: global equities; in US, equities; EM [emerging market] asset classes; commodity; credit; everything around the world is driven by one factor.
Doom Transcripts: Index &#38; Guide
The penultimate risk was merely the prospect of World War III breaking out.&#160; Fortunately Nouriel was running overtime so [...]]]></description>
		<link>http://housingdoom.com/2009/10/30/aei-subprime-vi-roubini-presentation/</link>
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		<title>Op-Ed Friday: Vacancies Headed Back Up Again</title>
		<description><![CDATA[It&#8217;s Friday, and while vacancies are supposed to be down from the first quarter, it looks like they are headed up again:

Oct. 29 (Bloomberg) &#8212; About 18.8 million homes stood empty in the U.S. during the third quarter as banks seized properties from delinquent borrowers and new home sales fell in September. 
The number of [...]]]></description>
		<link>http://housingdoom.com/2009/10/30/op-ed-friday-vacancies-headed-back-up-again/</link>
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		<title>Foreign Cenbank Holdings of US Obligations Weekly Update — to October 28, 2009</title>
		<description><![CDATA[The Fed&#8217;s own MBS holdings slid  by just $2.802 billion, while foreign central banks sold off a bit more MBS than that.  Meanwhile, cenbanks bought a good amount of treasuries.  Altogether a pretty ho-hum week on the US obligations front.
This week&#8217;s Reuters report1 settled down significantly after last week&#8217;s excitement. The report [...]]]></description>
		<link>http://housingdoom.com/2009/10/30/foreign-cenbank-holdings-of-us-obligations-weekly-update-%e2%80%94-to-october-28-2009/</link>
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		<title>Watch This!</title>
		<description><![CDATA[I apologize to whoever sent me this excellent video right after Frontline did it.&#160; Thank goodness M sent it to me again.&#160; Sure, it&#8217;s nearly an hour long, but you won&#8217;t waste your time.
&#160;


Why do I get the feeling I keep hearing a &#34;tick-tick-tick-tick&#8230;.&#34;?
&#160;
&#160;
]]></description>
		<link>http://housingdoom.com/2009/10/29/watch-this/</link>
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		<title>We Are So Doomed (and I was so wrong)</title>
		<description><![CDATA[Oct. 29 (Bloomberg) &#8212; The U.S. economy returned to growth in the third quarter after a yearlong contraction as government incentives spurred consumers to spend more on homes and cars. - BL1
A month and a half ago I confidently predicted that the equity markets would be collapsed by yesterday.&#160; Obviously wrong.&#160; What I failed to [...]]]></description>
		<link>http://housingdoom.com/2009/10/29/we-are-so-doomed-and-i-was-so-wrong/</link>
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		<title>Agents- Is there someone living in your vacant listing?</title>
		<description><![CDATA[When no one calls to see a vacant listing for awhile, some agents don&#8217;t bother stopping by.&#160; This can be the result: [Thanks L!]

A recent scam reported in the Phoenix area involves tenants moving into a pending short sale listing. The surprised listing agent contacted the owner who had not rented the property to anyone. [...]]]></description>
		<link>http://housingdoom.com/2009/10/29/agents-is-there-someone-living-in-your-vacant-listing/</link>
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		<title>AEI Subprime VI: Whalen Presentation &#8212; Where&#8217;s My Pony?</title>
		<description><![CDATA[Doom Transcripts: Index &#38; Guide
Housing Doom is pleased to present a third selection from our under-construction transcript of the American Enterprise Institute&#8217;s October 22, 2009 event &#34;The Deflating Bubble, Part VI: The Lessons of the Bubble and Crisis&#34;.1
The event site has a number of resources, including an audio and video of the proceedings.  There [...]]]></description>
		<link>http://housingdoom.com/2009/10/29/aei-subprime-vi-whalen-presentation-wheres-my-pony/</link>
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