Britain: Mortgage lenders alone cannot hold back double dip in UK housing market | Business | The Guardian

Mortgage lenders alone cannot hold back double dip in UK housing market | Business | The Guardian: "Rarely has a forecast come true so quickly. On Wednesday, the International Monetary Fund warned that there was a risk of a double dip in Britain's housing market. Within 24 hours, the Halifax reported that the cost of a home had dropped by 3.6% last month, the biggest one-month fall on record.

The scale of the drop took most – if not all – City analysts by surprise. Although recent months have seen a marked slowing in housing market activity, prices have edged only slightly lower. Today's snapshot of prices from the Halifax was out of line with most other recent surveys.

But, as the IMF noted in its World Economic Outlook, house prices in Britain still look expensive. Despite the stamp duty exemption for ho"

Make sure to read the full article by clicking on the title link above.

HOUSING STATS: Can anyone get it right?

I tell you as a blogger and concerned homeowner,  following the housing market reports is like trying to use a yo-yo or slinky with no prior experience.  All you see is a mass of tumbled stings, intertwining to make  a confusing mass of money woes.   All I know is that as a homeowner prices fall.  In foreclosure there are messes of legal mumbo jumbo, and in economics - well,  we seem to be in depression or at the minimum a lengthy recession with only glimpses of light here and there. 

Here are some of the headlines from today and past few days,  let's see what you think.   

Homebuilder Confidence Holds at Lowest Level in a Year as Tax Credit Ends  Confidence among U.S. homebuilders in September unexpectedly held at the lowest level in more than a year, showing the housing market remains depressed following the expiration of a government tax credit.

Lennar Reports Third-Quarter Profit as Margins Widen Lennar Corp., the fourth-largest U.S. homebuilder by revenue, reported a better-than-estimated third-quarter profit as margins on house sales improved and orders fell less than some analysts projected.

Economic Reports This Week The House Financial Services Committee will conduct a hearing on the state of the international financial system as it relates to the Dodd-Frank Act (Wednesday). The Senate Banking Committee will conduct a hearing on the Securities and Exchange Commission’s response to R. Allen Stanford’s suspected Ponzi scheme (Wednesday). A House Financial Services subcommittee will conduct a hearing on the limitations of the Securities Investor Protection Act (Thursday).

The Senate Banking Committee will conduct a hearing on the future of the Federal Housing Administration (Thursday).

Recovery Spreads FitfullyThe Federal Reserve said Wednesday that its survey of economic conditions in the central bank's 12 districts, which covers mid-July through August, found "widespread signs of a deceleration compared to preceding periods."

But the picture is uneven: The Fed report, called the "beige book," noted that factories, farms 

This Week's Reports Could Keep the Rally in Check - DailyFinance: "Tuesday alone brings new reports on housing starts and permits and the latest policy statement from Federal Reserve Chairman Ben Bernanke. Investors will also be contending with new- and existing-home sales figures, durable goods orders, leading indicators and weekly jobless claims this week.'" My sense is [housing] is going to be weak, and it's going to cause the market to sell off,' Kenny Polcari, managing director at inter-dealer broker ICAP Corporates. 'As we saw last week, housing is tough, and it continues to be tough.'"

Read also these blogposts I posted this weekend and today:


Dollar Falls / Euro 
US stock futures higher


Underwater mortgages strain health


ARab Housing Crisis


 All Eyes on Housing

BEFORE THE BELL: US Stock Futures Higher Before Housing Data - WSJ.com

BEFORE THE BELL: US Stock Futures Higher Before Housing Data - WSJ.com:

"Futures on the Dow Jones Industrial Average gained 22 points to 10560 and S&P 500 futures were up 3 points at 1122.7. Nasdaq 100 futures rose 5 points at 1957.75.

The moves came after modest gains for Wall Street in the previous session, which contributed to the third straight weekly gain for U.S. markets.

additionally:

Home builder Lennar Corp. (LEN) was another gainer, adding 5.3% ahead of the open, after it reported a return to profitability in the fiscal third quarter, with earnings of 16 cents a share handily beating the 4-cent consensus forecast.

Discover Financial Services (DFS) posted a third quarter profit of 47 cents a share as card sales volume rose 5% and loan loss provisions fell 34%.

European stocks also made a healthy start to the week Monday, with the U.K.'s FTSE 100 index jumping 1.1% and the German DAX 30 index gaining 0.5%.

After U.S. stock markets open, at 10 a.m., EDT, the National Association of Home Builders will release its September housing-market index. Economists surveyed by Dow Jones Newswires expect the index to rise to 14 from 13. This will be the first in a string of housing-market data due this week.

On Tuesday, the Federal Reserve will announce its latest rate decision"
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Mark Zandi: One economist who's expecting clear skies in another year - CSMonitor.com

Mark Zandi: One economist who's expecting clear skies in another year - CSMonitor.com: "“I firmly believe that once we get by the next six to 12 months we are going to get our groove back and we are going to be surprised at how well the economy is doing.”

Mr. Zandi is just one voice, but people do listen to him. He advised John McCain’s presidential campaign, for instance. Last year, The Wall Street Journal called him the “defacto chief economist to Congress.”

Here are some of his reasons for optimism:

The American household has its personal balance sheet in order. At least that’s true of the consuming public that does most of the buying – those above the median household income of $55,000.

He also says that eventually, demographics win. Right now, Americans are spending under their demographic needs. For instance, Zandi estimates they need 15.5 million cars a year – based on demographic changes such as kids going off to college and graduating to wheels of their own. But consumers are holding back, buying only 11 million. At some point, auto sales will “rocket higher.”

But expect America’s exports, not its consumers, to lead the way to a healthy economy, he says. Emerging markets such as Russia and Brazi"

Click on title link to read ENTIRE article it is encouraging!