Data on the US market

garp.com/risknews/newsfeed.a … 13783.html

This is an interesting read for those people who tend to harp on about soft landings. Historically markets rarely tend to flatten out, the tend to go to far one way and then go too far the other way. The herd intinct of the human race one might say.

It looks to me like the US cycle is only beginning its downtrend.

Bullybear

Oh for data like this on the Irish housing market. This blog deals with price falls in Sacramento California using MLS (multiple listings system) data.

flippersintrouble.blogspot.com/

The Coming Collapse in Housing
By John Mauldin, November 17, 2006
2000wave.com/article.asp?id=mwo111706

Shillings assessment is well chilling :confused: What can the Fed do to prevent this meltdown?, pump more liquidity into the system and wave bye bye to the reserve currency status of the dollar as it collapses?. One thing for sure the Irish economy is hideously exposed to any downturn in the US.

The first global house price index throws up some interesting trends.

finfacts.com/irelandbusinessnews/publish/article_10008138.shtml

A PBS TV news report on the US housing market.

youtube.com/watch?v=7KJ3Ih7OAuY

The meltdown in the Florida housing market continues apace. Florida was one of the more speculative markets in the great post millenium bubble but certainly not the only state effected by the mania. New house prices nationally are down 10% (that’s excluding builders ‘incentives’) and existing single family home prices are down 3%. Its clear now that the housing market slowdown is having an effect on related employment and on consumer sentiment. We in Ireland are possibly witnessing a foretaste of what can be expected here when the mania ends.

heraldtribune.com/apps/pbcs.dll/article?AID=/20061129/BUSINESS/611290461/1001/NEWS0105

The New York Times reports that realtors have seen prices fall 10-15% in New York and by 20% in Florida.

nytimes.com/2006/12/06/business/06leonhardt.html?_r=2&ref=business&oref=slogin&oref=slogin

There isn’t much data here . but it is interesting that it is on the RTE homepage. This gets a lot of viewings and will further effect sentiment here

rte.ie/business/2006/1213/worldbank.html

World Bank fears US house crash

December 13, 2006 07:35
The World Bank has warned that the global economy has reached a potentially dangerous ‘turning point’ with the US at risk of recession if the housing market crashes.

A bit of a trend emerging in the US sub-prime mortgage market, lenders going bust.

ml-implode.com/

The rising level of defaults in the sub-prime market is driving money out of the mortgage backed securities market in the US.

:exclamation:

wilmingtonstar.com/apps/pbcs.dll/article?AID=/20070126/ZNYT01/701260412/1002/business

40-50 sub-prime lenders going bust every day in the US according to Countrywide’s (the US’s largest mortgage lender) chief executive.

originationnews.com/plus/#3