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MOD'S, sorry about the posts you had to remove, I'll try to keep on topic, and less personal. GO FNMA
Good luck to you as well. Hopefully we start to move up again soon. peace
Not going to waste any more time on you,found out a long time ago, ignorant bigots will never change. GLA- hole
Thought so Bhahahaha, you're funny bro .
Que pasa hermana?
Governor Scott, here in Flori-duh, signed legislation making it a felony to be caught with any type of pipe,or paraphernalia,even if it's new and unused. So legalization won't be anytime soon in this backward state.At least as long as the old farts here keep electing Republican governors. IMO
Just checking in,this is looking good,I'll take 10% a day.
BROKEN RECORD !!!
Missed it also
Would be nice to end on HOD.
Yeah,and if you think about it logically,there is no precedent for the government "winding down"
companies with profits like FNMA/FMCC. This will come out of conservatorship,much like it was before. IMO
Homebuilder sentiment rises to highest in seven years in June
Reuters – 37 minutes ago
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Reuters - Carpenters work on new homes at a residential construction site in the west side of Las Vegas Valley in Las Vegas, Nevada April 5, 2013. REUTERS/Steve Marcus
By Leah Schnurr
NEW YORK (Reuters) - The majority of homebuilders view conditions in the industry as favorable for the first time since the start of the housing crisis seven years ago, with an industry report showing confidence in the sector surged in June.
At the same time, a separate report on Monday showed manufacturing growth in New York state picked back up but the improvement was undermined by weakness in new orders and employment that suggested activity in the sector remains sluggish.
The National Association of Home Builders/Wells Fargo Housing Market index surged to 52 in June from 44 in May, handily topping forecasts for 45. It was the biggest one-month gain since 2002.
Readings above 50 mean more builders see market conditions as favorable than poor. It was the first time the index has been above that dividing line since April 2006 and was its highest level since March of the same year.
"Another good sign that the recovery continues," said Jed Kolko, chief economist at Trulia, an online real estate marketplace.
Confidence among homebuilders has strengthened in the last year and a half, alongside a recovery in the broader housing sector. The index is 23 points higher than where it was in June of last year.
Rising prices, tighter inventory and improved sales have all helped the housing market get back on its feet. In the stock market, the data pushed the housing index (.HGX) up 2.1 percent. Homebuilders Toll Brothers (TOL.N) and Pulte Group (PHM.N) gained more than 3 percent, while Lennar (LEN.N) rose over 1 percent.
Cheap mortgage rates have helped lure in buyers, with borrowing rates kept low by the Federal Reserve's bond-buying stimulus program, while real estate purchases by investors have also helped soak up the excess demand left in the wake of the housing market collapse.
A recent spike in rates has raised concerns about the headwinds that might pose to the recovery, though mortgages still remain cheap by historical standards.
"The pent-up demand is there," said Sam Bullard, senior economist at Wells Fargo Securities in Charlotte, North Carolina.
Analysts are looking to the Fed's policy-setting meeting later in the week for insight into when the central bank may start to slow its $85 billion a month in bond purchases.
Homebuilders felt even more optimistic for the coming months with the gauge of single-family sales expectations for the next six months accelerating to 61 from 52. The single-family home sales component rose to 56 from 48, while prospective buyer traffic climbed to 40 from 33.
Builders could still face a hurdle if the recovery in the market convinces current homeowners and lenders that are holding foreclosures that it's the right time to sell, said Daren Blomquist, vice president at RealtyTrac.
That would give "the builders more competition, particularly in markets where existing home prices are still well below the average price of building a new home," he said.
U.S. stocks held on to gains following the data, though investors were mostly focused on expectations the Fed will reinforce its commitment to supporting the economic recovery at its meeting over Tuesday and Wednesday.
Separately, the New York Fed's "Empire State" general business conditions index rose to 7.84 from minus 1.43 in May, topping expectations for zero. A reading above zero indicates expansion.
But many of the details of the report deteriorated, including gauges of new orders and employment that fell to their lowest levels in five months.
"Sentiment may be improving but actual output isn't improving," said Michelle Meyer, senior economist at Bank of America Merrill Lynch in New York.
"This report suggests manufacturing activity is sluggish and that we are seeing that in the U.S. and the rest of the world."
While the housing recovery has been gaining traction, manufacturing activity in contrast has softened, hurt by belt-tightening in Washington and less demand overseas.
Areas of the economy that are directly tied to the impact of the Fed's quantitative easing, including housing and stock markets, are seeing encouraging growth, said Bullard.
"Anything on the production side of the economy, including manufacturing, is falling back on the fundamentals. Right now the fundamentals, especially for the global picture, are still fairly soft," he said.
The most recent look at the sector on a national basis from the Institute for Supply Management showed manufacturing contracted in May to a four-year low.
Monday's regional report poses the risk that ISM's index could fall even further below the 50 mark when the June report is released at the beginning of next month, said Amna Asaf, economist at Capital Economics.
The economy overall is thought to have hit a soft patch in the second quarter and growth is forecast to slow from the 2.4 percent pace seen in the first three months of the year.
(Additional reporting by Richard Leong and Michelle Conlin; Editing by Chizu Nomiyama)
Agree 100. Have been saying the same for a while,maybe some sort of a modified government back stop,but yes I agree they will emerge much the same as before. FNMA $
Good morning brother. Go FNMA !
Good for you,and congrat's. Welcome to the board.
The fact that you're even thinking about investing,shows you're ahead of most your age.
Ok done with him. Good morning people
Referring to yourself right? Because I don't remember saying $hit to you. GLTY as well.
Yeah I know ,but some people should just STFU.
At least somebody got it. Have a good day bro.
Guess he's new on here,or doesn't post here much. Didn't get the reference to the QATAR OIL MONEY
post's. Oh well that's what happens when someone comes to a battle of wits,unarmed. LOL
RECYCLED OIL MONEY HERE >>>>>>>>>
Increasing volume,low RSI says oversold, and buy to me ! Looks like green tomorrow. JMO
LONGS, GET AWAY AND GO FIND SOMETHING TO DO.
You're not wrong,but the fed is going to keep it longer, they are filling their budget gap from the dividend payments. LONG !!!
Doubt it,but if it does we can all average way down and hold. There's a bright side to almost everything.
Volume is good yes,but mostly sells
A man who is a master of patience is a master of everything else.
ok.thanks
What L2 program is that ?
D.C. Current | SATURDAY, MAY 11, 2013
Fannie, Freddie, Zombie
By JIM MCTAGUE | MORE ARTICLES BY AUTHOR
The two profitable mortgage outfits will be the walking dead if the government takes their profits for another 10 years. An IPO?
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Here's the financial equivalent of the popular Twilight vampire franchise: Politicians are sucking the blood out of resurgent mortgage guarantors Fannie Mae and Freddie Mac rather than returning them in good health to the private sector, where they belong. Washington is using their money in its budget-cap games, leaving the duo in a state of perpetual weakness, like the living dead, imprisoned in the government's ill-named "conservatorship" program.
A number of profit-minded investors that have taken positions in the preferred shares of the formerly distressed mortgage companies are pushing an alternative. The politicians, they claim, are blowing an opportunity both to generate at least $100 billion in deficit reduction from a spinoff to the public and to significantly limit the government's footprint in the mortgage market. Recall that in last month's budget, President Barack Obama took a huge political risk in calling for the sale of the government-owned Tennessee Valley Authority for about $25 billion to help reduce the deficit.
The financial acumen of these investors—which include hedge funds Paulson & Co.; Claren Road Asset Management, owned by the Carlyle Group; and Perry Capital—stands in stark contrast to their seeming naiveté about Washington. No matter how sensible on paper, their investment is unlikely to succeed. As one of my D.C. sources quipped, "Congress can't fix the Post Office, let alone Fannie and Freddie."
I've heard the investors' spiel. It's a good one. They envision two well-capitalized, debt-free, prime-mortgage guaranty corporations operating without government safety nets. Proceeds from the wind-down of mortgage-backed securities now on the books would pay off debt.
The government injected $187 billion into Fannie (ticker: FNMA) and Freddie (FMCC) after their collapse in 2008 in return for special preferred stock. At year-end 2012, the Treasury had received $65 billion in dividends, leaving a balance of $122 billion. The administration estimates that if the two remain in conservatorship for 10 more years, Treasury will get its money back—plus $50 billion—assuming housing's recovery continues. The investors argue that the companies have recovered and, like General Motors (GM) and AIG (AIG), should be turned loose. Based on combined 2012 pretax profits of $28 billion and a conservative 6.5 price/earnings ratio, the two could easily raise $182 billion in the stock market, according to the investors. If the government converted its preferred shares into a 79.9% common stock interest and sold it, then it would receive at least $145 billion. An eight- to-10-times multiple is more likely, generating $200 billion to $250 billion.
Subtracting Uncle Sam's proceeds from a $182 billion stock sale would leave $35 billion for holders of the $33 billion par value in old preferred shares and common stock. If they received their allocation ahead of the common, they'd realize a 100% recovery. Thus, the hedge funds and other vulture investors who bought preferred for $2 to $4 would receive $25, a great payday, to be sure.
Alas, Fannie and Freddie have loss carry-forwards valued at about $60 billion. Left on their books, it's counted as equity capital. The vampires in the administration and on Capitol Hill want Fannie and Freddie to transfer that credit to Treasury for use in deficit reduction. Treasury also continues to sweep capital out of both companies every quarter for its preferred dividends, keeping them weak. And they call this a conservatorship. I call it a vampire's blood bank.
Zero value ?
All the time you spend on this board suggests the otherwise. Oh,I know, you do it because you
don't want to see anyone lose their money. Bahahaha
This board is always good for a laugh. peace
You weren't suppose to remember that.
Thanks, GLTA. FNMA
Probably doesn't believe in evolution. Bahahaha
Is that english?
YEAH WE GOT IT, damn dude you're like a broken f'ing record.
I am, have bought more 4 times. Go FNMA