More On Housing “Recovery”

Three weeks ago we did a post discussing the softness of the so-called housing “recovery” – focusing in particular on the stagnation of mortgage applications. More recently, we wrote about efforts by the administration of U.S. President Barack Obama to “stimulate” the market by approving loans to people who cannot afford them.
Which in case anybody [...]

The Housing “Recovery”

Along with “happy happy joy joy” employment reports, the mainstream media has been vigorously applauding the “recovery” of America’s housing market. Home prices rose 8.1 percent in January, after a 7.3 annualized increase in the fourth quarter of 2012 – the third straight quarter of growth.
Awesome, right?
Wrong. Poking a hole in all of this hot air [...]

Obama: Out Of Ammo?

At some point in politics, you’re just spent …
As in depleted, empty, and completely out of ammo …
Our guess is that U.S. President Barack Obama knows what that feels like – particularly after this week’s totally underwhelming “job creation” announcement in Durham, N.C.
Having spent, lent, printed and pledged trillions of taxpayer dollars in an effort [...]