US Housing Starts: August 2013 Preview

Housing starts are expected to total 889,000 in tomorrow’s update for August, based on The Capital Spectator’s average econometric forecast (seasonally adjusted annual rate). The projection represents a slight decline vs. the previously reported 896,000 total for July. By contrast, several consensus forecasts drawn from surveys of economists anticipate a moderate rise in August housing […]

US Mortgage Lending is Tumbling

Yves here. We had predicted that the sharp rise in mortgage rates precipitated by the Fed’s taper talk would put a damper on the housing “recovery” and could even send it into reverse if rates continued to increase. They’ve in fact fallen over the past few weeks but are still markedly higher than in the spring. The […]

TARP is Over, But the Bailouts Will Continue Until the Big Banks are Broken Up — And Washington Knows It

TARP – the infamous Troubled Assets Relief Program that bailed out Wall Street in 2008 – is over. The Treasury Department announced it will be completing the sale of the remaining shares it owns of the banks and of General Motors. But in reality it’s not over. The biggest Wall Street banks are now far bigger than they were […]