Here you go:

http://www.mris.com/reports/stats/

Greg is reporting triple-figure percentage increases in sales and suggesting that these numbers, compared with surrounding jurisdictions, bespeak unique phenomena in Prince William. The data came from somewhere, and we know he knows how to put links in his posts. For all I know, he may be right, but I sure can’t find anything that permits me to understand what those data mean (if they are accurate). I don’t see it anecdotally in my flitting around the local real estate markets (including PWC) and they are such extraordinary numbers in isolation, that one would expect there would be front-page articles about this phenomenal counter-cyclality in all the major national publications if there were some statistical validity to this. (If there were two home sales in Zip Code xxxxx in May 2007 and 6 in May 2008, one might say with accuracy there was a 300% increase, but at those numbers, it may not be substantively significant. May 2007 may not be an appropriate baseline in any event, particularly if there were 30 sales in the immediately-preceding five year periods for the same months). Greg offers us hope that PWC is onto something (not clear what from the post) that could, if applied nationally, pull us all out of the muck. Let’s figure out what it is.

Facts matter. Analysis matters. I worked for a while for a government agency whose main product, despite its reputation for more dramatic activity, was analysis of data. When active human minds see numerical conclusions, they like to know what went into them.

For inactive minds, you may be right, 3I, - it doesn’t matter.

http://online.wsj.com/article/SB121494953423420859.html

Bank losses from credit crisis may run to $1,600bn, warns Bridgewater

By Ambrose Evans-Pritchard

Last Updated: 1:59am BST 08/07/2008

Bridgewater Associates has issued an apocalyptic warning to clients that bank losses from the worldwide credit crisis may reach $1,600bn (£800bn), four times official estimates and enough to pose a grave risk to the financial system.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/08/cnbridge108.xml

Fannie, Freddie Tumble on Bailout Concern, UBS Cut (Update2)

http://www.bloomberg.com/apps/news?pid=20601087&refer=&sid=aefOxE9thfw8

BIS slams central banks, warns of worse crunch to come

The central bankers’ bank renews fear of second depression, writes Ambrose Evans-Pritchard

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/30/ccbis130.xml

You thought the housing crisis was bad? You ain’t seen nothing yet.
By Danny Schechter

While many eyes are focusing on the housing meltdown and its hugely negative effect on an economy clearly moving into recession, few are paying attention to the next bubble expected to burst: credit cards. Combined with the subprime losses, such a credit card nightmare has the potential, experts say, of bringing down the entire financial system and global economy.

http://www.lacitybeat.com/cms/story/detail/house_of_cards/7181/

Could Freddie and Fannie be fini?

ON YOUR STREET: Intervention by feds may have huge impact on homeowners and taxpayers

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/07/12/BU0N11NSTF.DTL

By DAMIAN PALETTA and DAVID ENRICH
July 12, 2008; Page A1

IndyMac Bank, a prolific mortgage specialist that helped fuel the housing boom, was seized Friday by federal regulators, in the third-largest bank failure in U.S. history.

IndyMac is the biggest mortgage lender to go under since a fall in housing prices and surge in defaults began rippling through the economy last year — and it likely won’t be the last. Banking regulators are bracing for a slew of failures over the next year as analysts say housing prices have yet to bottom out.

http://online.wsj.com/article/SB121581435073947103.html?mod=hpp_us_whats_news

Pay close attention to the last sentence there.

P.S. for a really good laugh, go read Katherine Gotthardt’s ideas for immigration reform. http://luxuriouschoices.blogspot.com/2008/07/my-revised-immigration-plan.html

She is clearly insane and out of touch

The banks have started paying people to leave (I know, it is ridiculous to think of paying someone who hasn’t paid their mortgage). The bank goes in and instead of just kicking out the owner, they offer $1000-$1500 CASH if the owner will move out and leave the place clean (that is when the owners get the cash). Since most of these owners are cash strapped, they jump on the chance and it also saves the bank the money from doing the fix up work to sell the house. I think it is completely lame that the banks would reward people who didn’t pay their bills, but I guess the newer waves of foreclosures will be in even better shape.

1. Your resolution is now a year old.

2. This type of increase is in your area ONLY.

Congratulations!

They are then, investing work and money to restore these homes to their original design condition. What an opportunity and wonderful project for young, first time home buyers — in a few years, their efforts will yield significant rewards!