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Discussion: (2 comments)

  1. CoreLogic chief economist Mark Fleming commented: “The housing recovery that started earlier in 2012 continues to gain momentum. The recovery is geographically broad-based with almost all markets experiencing some appreciation.”

    Is this the same Mark Fleming who built models for Fannie that helped to create massive losses for the taxpayers because they could not see the bubble forming? Sorry Mark but until housing is no longer reliant on zero interest loans to people who have a bad credit history any gains are temporary. While I am tempted by some of the prices in Florida, where the sales price is a fraction of the rebuilding cost, I am not so sure that there is enough demand (yet) for all those homes and condos that are behind in their payments and weary of picking up properties that the banks have to dump when their inventory is so high.

  2. Che is dead

    “In a Bloomberg story titled, appropriately enough “Treasury Scarcity to Grow as Fed Buys 90% of New Bonds” we read that “the Fed, in its efforts to boost growth, will add about $45 billion of Treasuries a month to the $40 billion in mortgage debt it’s purchasing, effectively absorbing about 90 percent of net new dollar-denominated fixed-income assets, according to JPMorgan Chase & Co.” Actually that’s incorrect and it is more like 100%. What is however 100% correct is what the bolded means in plain language: it is now accepted that the Fed will outright monetize all gross US issuance. — QEternity, ZeroHedge

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