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[WILLIAM <billymegab AT yahoo.com>]

Gene,
   
  Don't forget to wash it down with one of your favourite brews for better 
absorbtion!

Gene GeRue <genegerue AT ruralize.com> wrote:
  
>There are plenty of ways to
>increase your calcium withou

For instance, one might eat pizza seven days per week!


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>From billymegab AT yahoo.com  Tue Sep 12 09:04:05 2006
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Gene,
   
  Don't forget to wash it down with one of your favourite brews for better 
absorbtion!

Gene GeRue <genegerue AT ruralize.com> wrote:
  
>There are plenty of ways to
>increase your calcium withou

For instance, one might eat pizza seven days per week!


_______________________________________________
Homestead list and subscription:
http://lists.ibiblio.org/mailman/listinfo/homestead
Change your homestead list member options:
http://lists.ibiblio.org/mailman/options/homestead/billymegab%40yahoo.com
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Stay in the know. Pulse on the new Yahoo.com.  Check it out. 
>From lisakvperry AT gmail.com  Tue Sep 12 09:33:23 2006
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From: "Lisa K.V. Perry" <lisakvperry AT gmail.com>
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Recent entries from http://thehousingbubbleblog.com/ which give other
perspectives.

The Washington 
Post<http://www.washingtonpost.com/wp-dyn/content/article/2006/09/08/AR2006090800760.html>.
"The president of the National Association of Realtors, Thomas Stevens of
Vienna, admits he didn't follow his agents' advice when the real estate
market started to cool. That, he says, is why his old house in Great Falls
has now been on the market for a year at the price of $1.45 million."

"'What I should have done,' confessed (Stevens), 'was listened to my agent
and cut the price by $50,000 to $100,000 early on, and the property would
have sold last October.'"

"Now Stevens, like so many other home sellers in the Washington area and
around the nation, is waiting for a buyer in a market that has totally
reversed course since a year ago. With two or three times the number of
properties listed this year as last in some neighborhoods, agents are urging
sellers to lower their expectations, put on their best face and offer
incentives such as closing cost help."

"But, he noted, in his defense: 'Who knew last September how long this down
trend was going to continue,' after so many years of climbing upward?"
---------

Danielle DiMartino writes
at<http://www.dallasnews.com/sharedcontent/dws/bus/columnists/all/stories/0906dnbusDiMartino.29cbf31.html>the
Dallas News. "For an idea whether the housing market is in for a soft
landing or something a lot nastier, take a look at the performance of home
equity loans. Last week, Moody's Investors Service reported that the
delinquency rate in the home equity loan market rose 11 percent for the
quarter ended in April from the same period a year earlier."

"'This is the 11th consecutive month that the home equity delinquency growth
rate has risen,' Moody's Ben Garber said."

"To give you an idea how quickly the market turned, the delinquency growth
rate was falling at a 27 percent annualized rate in the quarter ended May
2005. In the space of 11 months, we've rotated from vast improvement to
sharp deterioration. According to Moody's, delinquent loans now represent
nearly 7 percent of the total existing pool of home equity loans."

----------
"'Consumers held the least favorable home-buying plans since the low point
in the 1990 recession, which indicates continued declines in sales of new
and existing homes during the year ahead,' according to Richard Curtin, of
the University of Michigan's Survey of Consumers."

The Arizona 
Republic<http://www.azcentral.com/news/articles/0831cr-edit0901.html>.
"There is a three-year supply of homes on the market in Johnson Ranch near
Queen Creek, a real-estate agent told reporter Betty Beard. Agents are
encouraging sellers to, gasp, lower their prices, sometimes below appraisal.
Throughout the craziness last year, a few moderating voices warned of the
inevitable 'bubble,' but there was no sense that it would burst so soon."

"A stabilized, more realistic market seems like a good thing all around."

>From Massachusetts <http://www.sentinelandenterprise.com/ci_4272699>.
"Nearly twice as many Fitchburg homeowners have lost their homes to
foreclosure during the last 12 months compared to the previous year.
Foreclosures will most likely continue to rise for at least the next year,
Jeremy Shapiro said. 'A lot of people haven't even been hit by rate
increases yet,' he said. 'We're definitely going to be seeing an increase
down the road.'"

---------
>From httpp://calculatedrisk.blogspot.com/

[I haven't verified the numbers in tyesterday's post below, but it does not
include Fannie Mae.  For every $100k owed, a 2% reset from 5% to 7% is equal
to a $134 increase, therefore you'll soon pay $400 more on a $300k
mortgage.  The 3/1 ARM was one of the most popular loan the last few years,
an initial 2% jump is standard.  ARMs adjust annually thereafter the first
rate reset.  Figures below.]

In the midst of mid-quarter doldrums, I had the time to put this together.
This is the dollar value in $MM of 3/1ARMs issued by Freddie Mac by month.
The "Started" year is the year originated. The "Reset" year is the year when
the initial period lapses and the loan market short-term interest rate. This
should only be used to illustrate a trend and is not complete nor
comprehensive. Obviously, many of these have been refinanced (or I hope so
for their sake).

Started 2003 2004 2005 2006
Reset 2006 2007 2008 2009
Jan 14 31 33 32
Feb 14 29 31 33
Mar 14 29 34 32
Apr 15 32 36 32
May 15 36 35 30
Jun 15 34 32
Jul 19 34 31
Aug 24 34 29
Sep 25 34 28
Oct 26 36 30
Nov 29 34 35
Dec 32 34 31
Lama | 09.11.06 - 2:31 pm |
#<http://www.haloscan.com/comments/calculatedrisk/115799282539004201/#216158>
--------
http://calculatedrisk.blogspot.com/  From 9/8/06:
Homebuilders: Lennar and Standard Pacific Warn From AP: Lennar Cuts 3Q
Profit Outlook <http://biz.yahoo.com/ap/060908/lennar_outlook.html?.v=6>

Lennar Corp., one of the nation's biggest homebuilders, cut its
third-quarter earnings projections Friday due to a decrease in new orders
amid softening in the housing market.
...
"The U.S. housing market has continued to deteriorate," Miller said. "Given
difficult market conditions, we have limited our land purchases while we
have remained focused on even flow production and minimizing completed
inventory."

>From MarketWatch: Standard Pacific cuts third-quarter
outlook<http://www.marketwatch.com/News/Story/Story.aspx?guid=%7bA3CCF1A1-BB13-4444-8885-F85F3E829819%7d>

The Irvine, Calif.-based homebuilder [Standard Pacific Corp.] ... said net
new home orders for the first two months of the third quarter were down 58%
from the same period last year, driven mainly by an increase in the
company's cancellation rate and further weakening of demand in many of its
larger markets. The company's gross orders for July and August were off 30%
from last year.

Note: The Census Bureau only reports new home initial sales and does not
include cancellations. For Standard Pacific, new home sales are off 30% from
last year for August and July, but if cancellations are included, new home
sales are off 58%.

For July, the Census Bureau reported new home sales were off 22% compared to
July 2005. However, if cancellations are included, the sales decline might
be closer to 30% (just a guess based on the unusually large number of
cancellations reported by the major builders).
 -------

Bubble or no, homes were overpriced.  Homeowners borrowed from their own
homes and maxed out home equity loans.  Contractors overbuilt.  Foreclosures
will increase as homeowners struggle to pay increased mortgage payments,
thanks to lenders that used ARM loans and the likes of interest only loans
to get the Borrower into the house with the smallest payment (so they could
afford to buy more house than they really could afford).  One big enabling,
dysfunctional system.  Brings to mind Betty Davis's bumpy ride quote.

Lisa