Housing market is overheated...


By FortWayne   Follow   Fri, 8 Feb 2013, 10:05am   337 views   3 comments
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Just like in 05 they weren't sure there was imminent threat, but slight overheating...

http://online.wsj.com/article/SB10001424127887324906004578290113820357742.html

Federal Reserve Board Governor Jeremy Stein said there isn't an imminent threat to the wider financial system, but highlighted several markets—including junk bonds, mortgage real-estate investment trusts and commercial banks' securities holdings—as areas where potentially troubling developments are emerging, possibly as a result of the Fed's easy-money policies. Mr. Stein spoke Thursday at a symposium at the Federal Reserve Bank of St. Louis.

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  1. bgamall4


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    1   10:15am Fri 8 Feb 2013   Share   Quote   Permalink   Like   Dislike   Protected  

    One thing that people must realize, FortWayne, is that the only Feds that matter are the DC and NY Feds. The regional Feds are not the insiders. They have little power because the Feds are owned by the banks in the region. The Fed in charge is DC, but the private Fed bank with the most power is the NY Fed, home of JPM, Mellon, Citibank, Goldman Squid, etc.

  2. Mobi


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    2   11:18am Fri 8 Feb 2013   Share   Quote   Permalink   Like   Dislike  

    We've seen this movie before... LOL

    I am not too worried yet since the sale numbers (price, too) are still much lower compared to 2005.

  3. bgamall4


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    3   2:37pm Fri 8 Feb 2013   Share   Quote   Permalink   Like   Dislike   Protected  

    Mobi says

    We've seen this movie before... LOL

    I am not too worried yet since the sale numbers (price, too) are still much lower compared to 2005.

    For sure we have seen this before. But, regarding price, 2005 was divorced from fundamentals. Already first time buyers are nowhere to be found. The hedge funds bought up all their stock.

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