REwired

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Open commentary on everything impacting the U.S. housing economy. The opinions expressed here represent the author's alone.

HW's Richard Bitner on Larry King Live

Last week, HW managing director Richard Bitner made the media rounds to tout his new book, Confessions of a Subprime Lender. One of the appearances was on none other than Larry King Live, which means we now officially can say that Larry King has uttered the words "Housing Wire dot com."
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Questions emerge over MBA's new digs

Rolfe Winkler at Option ARMageddon questions the wisdom of MBA's recent real estate purchase -- in 2007, the trade group purchased a new office building to house its operations (and pull in some income by leasing to other tenants). As the market has continued to tank, however, the weakness in real estate has spread into CRE and since left the MBA holding the bag on tenants that have yet to appear. Winkler writes:
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We need a new bubble

Sometimes fiction mirrors reality -- read this at the Onion and tell us there wasn't a part of you that said "absolutely." An excerpt: A panel of top business leaders testified before Congress about the worsening recession Monday, demanding the government provide Americans with a new irresponsible and largely illusory economic bubble in which to invest.
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Spoken like an true originator

Remarks earlier this week from Secondary Marketing Executive editor Phil Hall have left us wondering how much he really understands about the industry he covers. To wit, from an op-ed published on their own Web site:
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Wholesale inflation surges

Looks like Bernanke has a reason for concern. Via the Associated Press: The Labor Department reported that soaring costs for gasoline and food pushed inflation at the wholesale level up by a bigger-than-expected 1.8 percent in June, leaving inflation rising over the past year at the fastest pace in more than a quarter-century.
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The WSJ is a month late

Today, a very long look at mortgage insurers graces the front page of the Wall Street Journal, and it finds out what we've already known for some time: that it's the mortgage insurers that are playing the role of final arbiters of credit in a fast-contracting mortgage lending market (at least the part of it not backed by the Federal Housing Administration).
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