Carpe Diem on CNBC
Thanks to Larry Kudlow for mentioning Carpe Diem last night on CNBC, he featured the graph above from this CD post on mortgage resets (graph courtesy of Dennis Gartman). CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Thursday, April 17, 2008
Thanks to Larry Kudlow for mentioning Carpe Diem last night on CNBC, he featured the graph above from this CD post on mortgage resets (graph courtesy of Dennis Gartman). About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
Previous Posts
- Only 2 Banks Have Failed in 2008
- Economic Hysteria
- Marching Backward on Trade
- India's New Billionaires: Builders or Robber Barons?
- AGI: Oil Would Be $65 If USD Had Remained Strong
- Average Work Week
- Industrial Production Growth Suggests No Recession
- Passing the Peak of Mortgage Resets
- Market Magic: Everyday Miracles
- 2007 Current Account Balances
1 Comments:
one additional comment on the reset problem. tho resets are still a looming problem for Alt-A, the bigger problem now is price declines. people who can afford to make the payments are walking away and defaulting on their loan when the home value dips below the mortgage balance.
from nakedcapitalism.com: "There are almost $8 trillion in prime mortgages. Until fairly recently most analysts thought that this class of mortgage loans would not be prone to delinquencies and defaults. But half of the GSE foreclosures so far in this cycle involve prime mortgages.... Fed Governor Janet L. Yellen noted that in this cycle mortgage defaults appear to be a function more of house price declines than anything else... "
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