Current Housing Indicators |
| CURRENT | PREVIOUS | ||
| Existing Home Sales | 4.91m | ▼ | 5.02m |
| New Home Sales | 460,000 | ▼ | 520,000 |
| Housing Starts | 817,000 | ▼ | 872,000 |
| Building Permits | 786,000 | ▼ | 857,000 |
| HMI | 14 | ▼ | 17 |
| Existing Home Prices | $203,100 | ▼ (annually) | $224,400 |
| New Home Prices | $221,900 | ▼ (annually) | $236,500 |
- Fear Gripping Commercial Real Estate—But Question Is Why?
- Reasons NOT To Modify Troubled Home Loans
- Bailout For Builders—Are They Next In Line?
- Homeowners: Not Just About Buying—It's Also About Investing
- Bailout Anger Boiling: "Is Kashkari A Chump?"
- That $300 Billion Hope For Homeowners Isn’t Working
- Frank Vs. Paulson: Just Who Has It Right On Mortgage Defaults?
- Citi Jumps On Mortgage Modify Bandwagon: Does It Really Help?
- Fannie Mae's Future Looks Pretty Grim—Downright Scary
- Home Loans: The Case For And Against Modifying Them In Court
- Out with Cox, in with Uptick Rule
- Pops & Drops: Hewlett-Packard, JP Morgan & Air Wagoner
- Mad Money Green Week: Owens Corning
- Fast & Furious: It's All About Soup
- Web Extra: The Trade on Walmart and RIMM
- Chartology: Grossly Oversold and Favoring the Upside
- The "Armageddon" Gameplan
- What's Next for Citigroup?
- What to Expect From a Geithner-led Treasury
- Citigroup Talks, But Nothing 'Walks' To Stabilize
- Soros: More Money Needed For U.S. Bailout
- HP Earnings: How Much Will "Hurt" From Economy?
- Obama Warns On Economy: Works On Stimulus Plan
- Citigroup's Ills May Signal Market Isn't Near Bottom
- US Inflation Bonds Hit by Deflation, May Recover
- Pros Say: Market Will Drop 5-10% — Ford Will Boom
- Bonds Drop on Profit-Taking, Geithner Move
- Jack Welch on Detroit: Let Them Go Bankrupt

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About 65 percent of domestic banks—up notably from about 30 percent in the April survey—indicated that they had tightened their lending standards on credit card loans over the past three months, and about the same fraction of respondents—up from roughly 45 percent in the April survey—reported having tightened standards on consumer loans other than credit card loans.
On top of that they’re increasing minimum required credit scores on both types of consumer loans; this on top of ever more bankers reporting tighter credit standards on prime home loans and foreseeing that tightening continuing well into 2009. Oh, and lest I forget, about 60 percent of bankers say they expect to tighten their credit standards for approving revolving home equity lines of credit through 2008, 40 percent through the first half of 2009.
What does it all mean? As Americans become more cash-strapped than ever, thanks to still-high oil prices, higher food prices and few jobs, getting cash will become ever more difficult. As American homes bleed money in the form of falling home prices, their owners won’t be able to siphon any of that blood for their own financial circulatory systems.
More Posts and News To Read |
I get a lot of flack for being negative on the housing “recovery,” but with results like these from the folks who fuel the housing market with the equity necessary for people to buy, sell and exist in their homes, how exactly am I supposed to be positive.
The hit on plastic is kind of the last shoe to drop. As people struggle to make their home mortgage payments, they may need to put those other day-to-day expenses on the card, maybe even get another card. Apparently fewer will now have that option.
Questions? Comments?



