At some point we are going to get some signal, some indication that this massive policy response is getting some traction. The flight out of Treasuries is something that will be breathtaking.
—Mitchell Stapley, who oversees $22 billion as chief fixed-income officer for Grand Rapids, Michigan-based Fifth Third Asset Management.
November Foreclosure data from RealtyTrac
Foreclosure activity in November hit the lowest level we’ve seen since June thanks in part to recently enacted laws…this lower activity is simply a temporary lull before another foreclosure storm hits in the coming months.
—James J. Saccacio, chief executive officer of RealtyTrac.
- National Foreclosure Filings: 259,085 U.S. properties during the month
- Up 28% from November 2007, and down 7% decrease from the previous month.
- One in every 488 U.S. housing units received a foreclosure filing in November.
- Top ten states by rate, totals in parentheses: Nevada (13.9k), Florida (49k), Arizona (13k), California (60k), Michigan (14.6k), Georgia (10k), Ohio (12.9k), Colorado (5k), Utah (2k), Idaho (1.3k)
- New Jersey
- 5582 in some form of foreclosure, two thirds of which are Lis Pedens
- Down 34% month over month, per the moratorium
- Up 32% year over year
- One household in every 622
- Essex County: one household in every 266 housing properties
- Union County: one in every 406 properties
- New York
- 2601 in some form of foreclosure, half of which are Lis Pedens
- Down 31% month over month
- Down 55% year over year
- One household in every 3040
- Westchester: one in 3418 properties
There’s really no solution now — except abstinence.
—Lt. Col. Greg Conti, a professor of computer science at West Point on “What search Engines have found out about all of us”
Bear markets always end for exactly the same reason, and that is the market begins to price in deflation. Equities will be incredibly cheap.
—Russell Napier on the expected direction of James Tobin’s Q Ratio
a recession with adjectives — A deep recession, a long recession, a damaging recession
The big problem is that there’s no bottom in sight for consumers and for businesses. The negative sentiment makes it difficult to stabilize the situation. It’s very worrisome.
—John Lonski, chief economist at Moody’s Capital Markets
teasing is a mode of play, no doubt with a sharp edge, in which we provoke to negotiate life’s ambiguities and conflicts. And it is essential to making us fully human.
—NYT
With the U.S. economy suffering the worst financial crisis since the Great Depression, AARP has to decide if charging higher insurance rates in order to bolster its revenue by $497.6 million a year is the kind of help that seniors need.
—Bloomberg article on private interests at the AARP
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