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blogs.wsj.com - 10/24/2009
Uncle Sam Adds 5% to Prices of Homes, Goldman Says
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Uncle Sam’s interventions in the housing market have pushed home prices 5% higher on a national average than they would have been otherwise, Goldman Sachs estimates in a report released late Friday. The government over the past year has slowed the pace of foreclosures through moratoria and the ...
calculatedriskblog.com - 29 days ago
Goldman: Government Policies Boosted House Prices 5%
— calculatedriskblog.com — From James Hagerty at the WSJ: Uncle Sam Adds 5% to Prices of Homes, Goldman Says Uncle Sam’s interventions in the housing market have pushed home prices 5% higher on a national average than they would have been otherwise, Goldman Sachs estimates in a ... (more) Goldman: Government Policies Boosted House Prices 5%

Comments vote down Bubble Meter found this 29 days agofound this
bubblemeter.blogspot.com - 29 days ago
Government intervention added 5% to home prices
— bubblemeter.blogspot.com — Here's a summary of the analysis from Goldman Sachs: Uncle Sam’s interventions in the housing market have pushed home prices 5% higher on a national average than they would have been otherwise, Goldman Sachs estimates in a report released late ... (more) Government intervention added 5% to home prices

Comments vote down FT Alphaville found this 29 days agofound this

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Calculated Risk:  Goldman: Government Policies Boosted House Prices 5%

Mish's Global Economic Trend Analysis:  Will Stimulus Take Hold?

Bubble Meter:  Government intervention added 5% to home prices

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Goldman: Government Policies Boosted House Prices 5%
Calculated Risk — From James Hagerty at the WSJ: Uncle Sam Adds 5% to Prices of Homes, Goldman Says Uncle Sam’s interventions in the housing market have pushed home prices 5% higher on a national average than they would have been otherwise, Goldman Sachs estimates in a report released late Friday. ... But these artificial props won’t last forever and may have created a false bottom in the market. “The risk of renewed home-price declines remains significant,” Goldman economist Alec Phillips writes in the report, “and our working assumption is a further 5% to 10% decline by ...

Will Stimulus Take Hold?
Mish's Global Economic Trend Analysis — ... time homebuyers that expires at the end of November. Take Hold Of What? If the government gives everyone $4,500 I am sure we will see a fine increase in spending. I am equally sure nothing will take hold and the dollar will go into a free-fall, which of course is the opposite of take hold. Cash for clunkers ended, pushing demand forward. Now what? Uncle Sam Adds 5% to Prices of Homes Goldman Sachs says Uncle Sam Adds 5% to Prices of Homes. Uncle Sam’s interventions in the housing ...

Government intervention added 5% to home prices
Bubble Meter — Here's a summary of the analysis from Goldman Sachs: Uncle Sam’s interventions in the housing market have pushed home prices 5% higher on a national average than they would have been otherwise, Goldman Sachs estimates in a report released late Friday. ... But these artificial props won’t last forever and may have created a false bottom in the market. “The risk of renewed home-price declines remains significant,” Goldman economist Alec Phillips writes in the report, “and our working assumption is a further 5% to 10% decline by mid-2010.” Federal ...

Monday morning links
The Mess That Greenspan Made — ... Feud Over $21B Consumer Bailout Plan - Bloomberg Why the Federal Reserve Is a Currency Manipulator - ChinaStakes New property-bubble warnings in Hong Kong - MarketWatch UK households 'lost 13pc of wealth in one year' - Telegraph Asian summit off to shaky start - LA Times REAL ESTATE If Lenders Say ‘The Dog Ate Your Mortgage’ - NY Times Toddlers Buy Houses When Stimulus Trumps Reason - Bloomberg Uncle Sam Adds 5% to Prices of Homes, Goldman Says - WSJ Developments Detroit house auction flops ...

Goldman says US gov’t boosted home prices by 5%
FT Alphaville — According to a Goldman Sachs analysis, interventions by the US government in the housing market added an average of 5 per cent to home prices nationally. As the WSJ’s Developments blog noted over the weekend, emphasis FT Alphaville’s: The government over the past year has slowed the pace of foreclosures through moratoria and the drive to modify mortgage terms to keep more borrowers in their homes. It also has pumped up demand for housing by giving tax credits to many first-time home buyers and by driving down mortgage interest rates. As a result, home prices in some areas have ...

Death of Tax Credit Signals Return to Market Functionality
The Powell Perspective — ... According to Goldman, what good has come from the credit is only temporary.  They expect a five to ten percent decrease in prices when the credit expires.  The administration also admits a possible decline in prices.  The decision of whether to extend the credit depends on how much government intervention has aided recent stability. ...

Some Praise and Questions for the US Treasury
The Aleph Blog — ... bailing out the holding companies (what idiocy!).  That said, why would we give more money to GMAC?  It is not critical in a systemic sense.  Let it go under. 3) Most stimulus programs waste money.  Better to rebate taxes to everyone equally.  It is fairer than choosing favorite firms or markets.  With that I would argue that it is time for the first time buyer credit to end in residential real estate.  Most of those that bought would have bought anyway, and the credit benefited sellers more than buyers as it pushed prices up for now. ...

Wednesday Reading
The Big Picture — Some killer stuff here: • How mistaken ideas helped to bring the economy down (FT) • Jubbak: Why big banks hate banking (MSN) • Reflation Trade Shifting Into Reverse? (Barrons) • Uncle Sam Adds 5% to Prices of Homes, Goldman Says (WSJ Deelopments) • Rex Nutting: 7 hidden ways to watch economic indicators (Marketwatch) • Bond Weakling California Shows States’ Failure to Disclose Debt (Bloomberg) • CNBC Viewership Plunges 50% In October (Zero Hedge) • ...

Stimulus, Growth and Recovery: The Debate Continues
The Powell Perspective — ... wrote Monday in the WSJ, that he forecasted a return to growth without stimulus spending.  He goes on to argue, along with others, that  housing programs have had questionable results.  Lazear said that Uncle Sam is fibbing about job growth as well, reporting job retention as if it where job creation.  ...

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