Northern Virginia Bits Bucket 9/30/2009

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S&P/Case-Shiller® July Home-Price Index

The S&P/Case Shiller® composite index (graph here) for the month of July was released today.

“'The rate of annual decline in home price values continues to decelerate and we now seem to be witnessing some sustained monthly increases across many of the markets' says David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s. 'The two composites and all metro areas are showing an improvement in the annual rates of return, as seen through a moderation in their annual declines. Looking at the monthly data, the 10-City and 20-City Composites and 18 of the 20 metros areas increased in July. In addition, both Composites and 13 of the MSA have had at least three consecutive months of positive prints. These figures continue to support an indication of stabilization in national real estate values, but we do need to be cautious in coming months to assess whether the housing market will weather the expiration of the Federal First-Time Buyer’s Tax Credit in November, anticipated higher unemployment rates and a possible increase in foreclosures.'”

Northern Virginia Bits Bucket 9/28/2009

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Northern Virginia Weekend Bits Bucket 9/26-9/27, 2009

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Northern Virginia Bits Bucket 9/25/2009

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Mopping Up

The Washington Post has a housing article worth reading today -- [alleged] mortgage fraudsters in Fairfax County are busted:

"Deeper investigation uncovered the biggest mortgage fraud scheme in Fairfax history, officials said Thursday, and squads of officers arrested 20 people involved in allegedly cheating local banks out of more than $9 million."
. . .
"The family of Ruben Rojas, 30, of Vienna, a real estate agent who in recent years worked for Fairfax Realty and Proplocate Realty, is alleged to be at the heart of many of the transactions, according to a 37-page federal indictment unsealed Thursday. Rojas is charged with conspiracy and nine counts of fraud."

Northern Virginia Bits Bucket 9/24/2009

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Morning Red Meat

Here's one for our prognosticator archives (to look back on someday):

Some morning happy thoughts from tech ticker:

Peter Schiff:

"The coming collapse of the dollar and bursting of the Treasury bubble will have devastating consequences for ordinary Americans, and any investors based in dollars."

If you enjoy Schiff (and the theatrics he seems to generate in others) here's a video of him being interviewed on MSNBC in August in more of a political context (a run against Christ Dodd). It's eight minutes long, and as it progresses the interviewer figuratively hops over the table to put words in Schiff's mouth.

Northern Virginia Bits Bucket 9/23/2009

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Here's Dilbert on sugarcoating the economy.

Northern Virginia Bits Bucket 9/22/2009

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Happy Autumn.

Northern Virginia Bits Bucket 9/21/2009

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Northern Virginia Weekend Bits Bucket 9/19-9/20, 2009

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"It's Very Serious"

From the Post:

"The Federal Housing Administration has been hit so hard by the mortgage crisis that for the first time, the agency's cash reserves will drop below the minimum level set by Congress, FHA officials said.
. . .
"It's very serious," FHA Commissioner David H. Stevens said in an interview. "There's nothing more serious that we're addressing right now, outside the housing crisis in general, than this issue."

I don't have a whole lot to add to this one, except the obvious: are any of us surprised?

Northern Virginia Bits Bucket 9/18/2009

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Northern Virginia Bits Bucket 9/17/2009

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Northern Virginia Bits Bucket 9/16/2009

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Northern Virginia Bits Bucket 9/15/2009

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Northern Virginia Bits Bucket 9/14/2009

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Northern Virginia Weekend Bits Bucket 9/12-9/13, 2009

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Northern Virginia Bits Bucket 9/11/2009

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Northern Virginia August Housing Sales

Source: MRIS

Northern Virginia Bits Bucket 9/10/2009

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August sales data will be out today at MRIS.

Northern Virginia Bits Bucket 9/9/2009

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Northern Virginia Bits Bucket 9/8/2009

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Northern Virginia Weekend Bits Bucket 9/5-9/7, 2009

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Northern Virginia Bits Bucket 9/4/2009

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Northern Virginia Bits Bucket 9/3/2009

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Northern Virginia Bits Bucket 9/2/2009

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Northern Virginia Bits Bucket 9/1/2009

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