HousingWire's Morning Radar provides a look at what's trending across media outlets nationwide.
Housing recovery, here at last?
Time Magazine says evidence is mounting that a housing recovery is at hand despite experts' warnings that the sector hasn't yet hit bottom. Time's evidence includes Monday's stellar earnings report from Home Depot, the improving jobs market and improved homebuilder stocks, among other indicators. Read more here.
PIMCO leaves ASF
Bond giant PIMCO is leaving the American Securitization Forum because the trade group didn't issue a statement on the settlement signed by the government and five large lenders, according to Bloomberg. Citing people familiar with the talks, Bloomberg reported that "the episode underscored PIMCO's concern that the trade group doesn't advocate for debt buyers as well as banks that underwrite mortgages." PIMCO has a director's seat on the decade-old trade group and sought a reply to the $25 billion settlement, but one never came.
Some housing optimism
The Washington Post thinks now is the time to start the painful process of "weaning housing off Fannie-Freddie life support." The editorial board said the market needs a new set of rules and regulations and agrees with FHFA Acting Director Edward DeMarco's decision to raise fees at Fannie Mae and Freddie Mac. The Post said DeMarco is right to try and protect the long-term soundness of the financial giants by reducing risks.
Slow down, you move too fast
The Securities and Exchange Commission may try to curtail computer-assisted equities traders who rely on the "the minuscule aberrational price move" of a stock rather than the business fundamentals of the company. The Wall Street Journal reports Chairman Mary Schapiro is worried about high-frequency traders and may consider regulating some changes, including charging fees for canceled orders. In early May 2010, the Dow Jones Industrial Average was down about 300 points and plunged another 600 within minutes only to recover just as quickly. The SEC blamed much of the flash crash on high-frequency traders and the algorithms they use to trigger buy or sell orders.
— Jason Philyaw