Wednesday Reading
On residential real estate and recession risks/realities...
- Some sources of money may be cheaper after the Fed's rate cuts, but lending standards continue to tighten.
- Zillow estimates that 52% of "homeowners" who bought single-family homes in 2006 are now underwater on their mortgages. That's an ugly number. Is it also surprisingly low?
- Fed Governor Kroszner suggests that the rising tide of home foreclosures is an "urgent problem." No doubt.
- Barry Ritholtz observes that "Recessions Often Begin With Positive GDP Data."
- Calculated Risk does one of our favorite things: Asks for precision in communication about economic matters, the subject in this case being whether the housing market has bottomed. (Preview: No.)
