Whether or not this is a new recession or just a continuation of the Great Recession, data out this week continues to suggest that the US, if not indeed the world, is at increasingly high risk of declining back into technical recession. One has to wonder at what point does the mainstream media start calling all of this mess a Depression? Certainly ( Read more... )

CNBC Realty Track
Home Prices Worse Than Expected

By: Diana Olick
CNBC Real Estate Reporter
Prices lag sales. Say it again. Chant it if you will. On the way up and on the way down, that's the way it works.

We were therefore expecting to see a big drop in home prices a few months after the expiration of the home buyer tax credit, not now. Well they're ( Read more... )

Core Logic
Growing Number of Declining Markets Underscore Weakness in the Housing Market without Tax-Credit Support
..the majority of states experienced price declines and price declines are spreading across more geographies relative to a few months ago. Home prices fell in 36 states in July, nearly twice the number in May and the highest ( Read more... )

Pause? Slowdown? Double Dip? Triple Dip? Quadruple Somersault & Backflip?

Whatever This Phase Ultimately Gets Called, Many _leading_ Indicators Continue Freefalling



Bret Owens/Seeking Alpha
Look Out Below: The Baltic Dry Index Is in Freefall

Remember a few weeks ago, when the Baltic Dry Index was on the ropes?

Well, it's off the ropes - and in ( Read more... )

 
( Read more... )

Calculated Risk blog keeps pulling back the rug a little on the real real estate situation in this country, and it ain't pretty.

If you are one of the many Americans expecting a sustainable housing recovery of sorts to start this year, think again. This is a very big part of the reason why some of us in this community call this a Depression, and ( Read more... )

H/T: CR

Reuters:
MidAmerican's Sokol sees US housing staying weak

David Sokol, chairman of Berkshire Hathaway Inc's MidAmerican Energy Holdings and a contender to succeed Warren Buffett, warned that the U.S. housing market still has a ways to go before bottoming out.
...
"As we look at the economy, I have to be honest: we're not seeing the green ( Read more... )

H/T: Calculated Risk

CR takes us through a nice little tour
of some Shadow Inventory in sunny Southern California...

Click to view