{"id":197514,"date":"2008-01-28T23:32:00","date_gmt":"2008-01-29T04:32:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/01\/28\/economics-update-533\/"},"modified":"2008-01-28T23:32:00","modified_gmt":"2008-01-29T04:32:00","slug":"economics-update-533","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/01\/28\/economics-update-533\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p><a href=\"http:\/\/money.cnn.com\/2008\/01\/28\/news\/economy\/newhomes\/index.htm?cnn=yes\">New home sales plummet<\/a>.  New home sales were down 26% from 2006, the biggest drop ever, surpassing the 23% decline posted of 1980.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/2008\/01\/25\/real_estate\/OFHEO_opposes_cap_lifts\/index.htm?postversion=2008012609\">Regulators opposes oppose increasing the GSE&#8217;s lending limit<\/a>, with the director of OFHEO, James Lockhart saying, &#8220;We are very disappointed in the proposal to increase the conforming loan limit as we believe it is a mistake to do so in the absence of comprehensive GSE regulatory reform.&#8221;<\/p>\n<p>I agree, the solution to too many people hanging themselves is <span style=\"font-weight:bold;\">not more rope<\/span>.<\/p>\n<p><\/p>\n<div adblockframe=\"true\" style=\"margin: 0px; padding: 0px; overflow: visible; width: 370px; display: block;\">\n<div style=\"overflow: visible; height: 0px; width: 100%;\" align=\"right\">\n<div style=\"border-style: ridge ridge none; border-width: 2px 2px 0px; padding: 1px; overflow: visible; vertical-align: bottom; -moz-border-radius-topleft: 10px; -moz-border-radius-topright: 10px; opacity: 0.5; background-color: white; position: relative; top: -19px; left: -5px; z-index: 900; width: 48px; height: 15px; cursor: pointer;\" align=\"center\"><span style=\"font-family: Arial,Helvetica,Sans-serif; font-size: 12px; font-style: normal; font-variant: normal; font-weight: normal; line-height: 140%; text-align: right; text-decoration: none; opacity: 1.5; color: black;\">Adblock<\/span><\/div>\n<\/div>\n<\/div>\n<p><embed adblockframename=\"adblock-frame-n2\" adblockframedobject2=\"true\" adblockframedobject=\"true\" src=\"http:\/\/www.cbs.com\/thunder\/swf\/rcpHolderCbs-prod.swf\" allowfullscreen=\"true\" flashvars=\"link=http:\/\/www.cbsnews.com\/sections\/i_video\/main500251.shtml?id=3756665n&amp;releaseURL=http:\/\/release.theplatform.com\/content.select?pid=AvWwCs6Mie0mpAqu6kfcsi4WBD7SC05f&amp;partner=newsembed&amp;autoPlayVid=false&amp;prevImg=http:\/\/thumbnails.cbsig.net\/CBS_Production_News\/601\/29\/60_kroftnew_12708_480x360.jpg&amp;type=\" application=\"\" flash=\"\" pluginspage=\"http:\/\/www.macromedia.com\/go\/getflashplayer\" height=\"361\" width=\"370\"><\/embed><br \/>CBS News reporter Steve Croft has an interesting report on the mess on 60 minutes (click to view, but there is a 30 second ad at the beginning).  Too narrow in scope, the big sh$%pile is about more than subprime.<\/p>\n<p><a href=\"http:\/\/www.timesonline.co.uk\/tol\/business\/industry_sectors\/banking_and_finance\/article3256253.ece\">European hedge funds are suspending redemptions<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New home sales plummet. New home sales were down 26% from 2006, the biggest drop ever, surpassing the 23% decline posted of 1980. Regulators opposes oppose increasing the GSE&#8217;s lending limit, with the director of OFHEO, James Lockhart saying, &#8220;We are very disappointed in the proposal to increase the conforming loan limit as we believe &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,973,1004,1265,1088],"tags":[],"class_list":["post-197514","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy","category-finance","category-housing-crash","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197514"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=197514"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197514\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=197514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=197514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=197514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}