More From Dan Hachey’s Reading List

May 25th, 2009 – Comment

UPDATE: Links fixed A Must Read Barron’s Article: The Housing Hurricane… I don’t know what to say other than read this carefully, especially the part about the banks… here’s a teaser on the home builders…(can it get more insane???) There’s no light at the end of the tunnel yet. We’re still supporting builders through misguided […]


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UPDATE: Links fixed

A Must Read Barron’s Article: The Housing Hurricane…

I don’t know what to say other than read this carefully, especially the part about the banks…

here’s a teaser on the home builders…(can it get more insane???)

There’s no light at the end of the tunnel yet. We’re still supporting builders through misguided programs that are only adding to the inventory woes. California decided to offer a $10,000 credit to buyers of new homes, on top of the $8,000 federal credit. But California made the $10,000 available only for new homes purchased directly from builders. That shows the power of the builders’ lobby, but it only adds to California’s housing-industry problem. It encourages builders to construct dwellings we don’t need, and it penalizes anyone else trying to sell a home.

http://online.barrons.com/article/SB124303112018248371.html

Bank of America to revise loans, more write-downs coming?

http://www.youtube.com/watch?v=KYlrrAWCTRg&feature=PlayList&p=47BEB398D8965CFC&playnext=1&playnext_from=PL&index=2

Carmakers’ woes may cost up to 6 million jobs says Union

http://www.bloomberg.com/apps/news?pid=20601087&sid=aOnaBArvseJg

US Bond Sales face resistance…

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5379733/US-bonds-sale-faces-market-resistance.html

This is a beauty: Simon Property Group (SPG) says things will get better in REIT land..

I guess they haven’t been reading Goldman Sachs recent shocking report that things are looking, er, not so good on that front. Disclosure: I have sold long OTM calls on this lipsticked pig and can’t wait to do more.  I guess their optimism did not preclude them from cutting their divdend after releasing their 1st quarter earnings report… Let’s see, 8.6 million sq ft of retail space vacated in the US in all of 2008, and 8.7 million sq ft vacated in the 1st quarter of 2009…..Let’s see, an estimated 230,000 retail store closures expected across the US in 2009, Let’s see, oh never mind, sounds like a buy to me, (as in bye, bye).

http://community.investopedia.com/news/IA/2009/Simon-Says-Things-Will-Get-Better-SPG-GGWPQ-KIM-TCO-BXP-VNO0525.aspx

Recent quote “…2 years ago a 539,000 job loss number (which by the way has been revised upward since – big surprise) would have been a national emergency, now it’s a green shoot…”
More later….
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