Bloomberg Runs Flat-Out False Case-Shiller Headline

Bloomberg Headline: Home Prices in 20 U.S. Cities Rise for Fourth Month Hey, cool! The housing downturn must be over if home prices rose in all twenty of the cities tracked by Case-Shiller, right? Right? …way down in the 11th paragraph of the article: Compared with the prior month, nine of the 20 areas covered […]

National Interactive “Stress Index” Map from AP

The Associated press published an interesting interactive map recently that is worth checking out. They took a handful of economic measures such as the unemployment rate, the foreclosure rate, and the bankruptcy rate, and calculated an “Economic Stress Index” for every county in the country. Here’s a snapshot of their March 2009 map (click to […]

Cramdowns Rejected by Senate, Appraisals Insulated from Banks

Two good news stories on the national front that are worth sharing this morning. Story 1: Senate Defeats Mortgage ‘Cram-Down’ as Democrats Balk The U.S. Senate rejected a measure that would let bankruptcy judges cut mortgage terms to help borrowers avoid foreclosure, a victory for banks and credit unions that said the legislation would increase […]