Archive for April, 2008
(San jose selling agents for real estate) Pimco’s Gross Warns that Further U.S. Housing Declines Could Be “Ruinous”
By Admin on April 29th, 2008
Housing price declines remain the greatest challenge to financial
markets and could prompt a deep recession, according to
Pimco’s Bill Gross.
“Home prices which have fallen by 10% over the past 12 months and are
set for a repeat by this time in 2009. Lower Fed Funds? They would, in
Pimco’s opinion, likely do more damage than…
No Need for Second Stimulus Package
Speaking in an interview with Fox Business news on Monday evening,
U.S. Treasury Secretary Henry Paulson said he did not
believe that a second fiscal stimulus package was
necessary and that the tax rebates mailed out yesterday would make a real
difference to GDP.
Treasury Undersecretary Steel Sees Good Progress in Economic Recovery, Housing
Progress on the U.S. economic slowdown and housing
sector have been encouraging, according to U.S. Treasury
Undersecretary Robert Steel, speaking to Society of American Business
Editors and Writers Annual Conference in Baltimore, Maryland.
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Former Fannie Mae Execs Consent to Multi-Million Dollar Penalties (san jose real estate rental service)
By Admin on April 28th, 2008
The Office of Federal Housing Enterprise Oversight has reached a
notable settlement with three of Fannie Mae’s former
executives.
The settlement, announced late Friday, will end enforcement actions
against the three officers arising out of accounting and internal control
problems at the two government sponsored enterprises (GSEs) in 2004.
The Consent Order requires that Mr. Raines pay Fannie
Mae a total of $24.7 million…
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Fed May Take “Breather” After Cut Next Week (san jose ca real estate licence schools)
By Admin on April 26th, 2008
Expectations for a pause in U.S. monetary policy were bolstered by an
article in Thursday’s Wall Street Journal, where noted Fed watcher Greg
Ip said, “The Federal Reserve is likely to cut its short-term interest
rate by a quarter of a percentage point next week — but then may be
ready for a breather.”
However, the Journal article also points out that…
Home Prices Rose 0.6% in February, OFHEO Reports
U.S. house prices rose 0.6% in February following
January’s 1.1% decline, the Office of Federal Housing Enterprise
Oversight (OFHEO) reported Tuesday. Economists had expected a monthly
decline of 1.5%.
In the previous month, U.S. home prices fell 1.1% between December
2007 and January 2008, contributing to a 12-month decline of 3.0%.
For the 12 months ending in February…
Preview: OFHEO Purchase-Only House Price Index to Decline in February
The new monthly OFHEO purchase-only home price index
is expected to fall 1.5% in February, following a 1.1% decline in the
January report.
The purchase-only index, based on data from home sales, was introduced
in OFHEO’s fourth quarter 2007 House Price Index (HPI) report, and
provides home price conditions for the nation and each of the nine Census
Divisions.
In the previous month…
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