Loan Performance House Price Index
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Yet another non NAR source of data for Housing Prices: Corelogic.
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Source:
June 2008 Loan Performance House Price Index
SANTA ANA, Calif., August 18, 2008–First American CoreLogic, a
https://www.corelogic.com/pressroom/press-releases/archive/20080818_first-american-corelogic-releases-june-2008-loanperformance-house-price-index/
Tuesday, August 26, 2008 | 02:30 PM | Permalink
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Comments
Don't worry about loan performances or banks. Erin Burnett is informing us that because there's no big banks on the FDIC list everything is OK and the market is "relieved."
Does anybody really think the FDIC is going to put a big bank on the list? C'mon. Wake up people. You think the FDIC list is accurate in determining bank failures?
This market is in trouble.
- AT
Posted by: Andy Tabbo | Aug 26, 2008 2:53:58 PM
At either end of the extremes five states are included. It's a tie!!
Posted by: Pat G. | Aug 26, 2008 3:06:41 PM
I'm listening to this FDIC Spokeswoman on CNBC - Wow, is she grandstanding or what? Anyone who has really followed what is going on knows that there is not nearly enough "real" money out there to shore up everything. Who the hell is fooling who? How can you have banks flying around the world begging for capital and yet she says that banks have more than enough cash to shore-up FDIC.
Someone please help me understand the truth!!!
Concerned Citizen
Posted by: Concerned Citizen | Aug 26, 2008 3:12:18 PM
Time to add Erin to my ever-expanding CNBC "mute" list. Bye Bye Erin!
Posted by: Jeff M. | Aug 26, 2008 3:21:13 PM
Does anybody really think the FDIC is going to put a big bank on the list? C'mon. Wake up people. You think the FDIC list is accurate in determining bank failures?
They didn't have indymac on the list when it failed.
So this list is meaningless.
Posted by: JP | Aug 26, 2008 4:49:43 PM
Yes, but Erin is easy on the eyes.
Posted by: Pat G. | Aug 26, 2008 4:53:34 PM
Capitalization of the S&P financial index (including lots of non bank financials is about $1.5 trillion. Safe to say the entire banking sector has equity well under $2 trillion. So, what effect does $1 to $1.5 trillion in losses have on already minimal equity? They won't shutter undercapitalized institutions if it's most of them. Too many inheritances lost.
Posted by: tom | Aug 26, 2008 5:09:56 PM
Well, judging from this map, at least MI and OH are starting to "decouple" for the Gang of Four (CA, NV, AZ and FL).
Posted by: Frank | Aug 26, 2008 5:53:34 PM
The latest Outside The Box newsletter from John Mauldin lists a good number of large banking entities on the brink. Also a nice graphic of the process:
Posted by: Jojo | Aug 26, 2008 6:00:21 PM
This is a prediction: If capital requirements are causing banks to go bust, then capital requirements will be changed.
Posted by: johnnyvee | Aug 26, 2008 6:47:58 PM
I wonder about the inclusion of Ohio and Michigan on the housing bust list. Being a native, home prices seem fairly affordable in Cleveland; they will never appreciate in value but provide ample habitat for 100-150k in decent areas
Posted by: JMS | Aug 26, 2008 8:00:58 PM
Erin needs something in her mouth to prevent her from talking.
Gum?
Posted by: GavshireHathaway | Aug 26, 2008 9:10:46 PM
Now I can see why they call them "fall" colors. I suffered a great deal of ridicule for buying a modest house. It's paid for and has low taxes even with 1/3 acre of land. I told people prices were crazy but no one listened.
It seems prudence will return for a while.
Posted by: AGG | Aug 27, 2008 1:43:53 AM
