10 year and 30 year treasury yields rose again a bit today.. hmm..foreclosures are up ALL over CA big time. I just heard on KFI 640 that in the San Fernando Valley they are up 400% and rising.
Its almost getting trendy to foreclose. Inventory is really high and getting higher. The media is reporting lots of bad housing news all over the country. Temecula /Murrieta is getting absurd. I’m starting to see declines, but still homes are way overpriced. I very confident that the housing recession is still ON despite a big rate cut, weak bailout legislation, and the blind optimism and blatant lying from the spinners on wall street and in the RE industry.
Morgan Stanley and CarMax had really bad news today. All of this combined with the high inflation risk and falling dollar remind me that there is only so much that the gov. can do to save things. Equities markets may be strong for a while, but I can’t see any possibility of an RE turnaround.
