Word: curran
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Many housing-industry experts believe pricing will bottom soon, but the bears warn that it will probably be 2013 before the market noticeably rebounds. "The improvement that we're going to see off the bottom will be anemic" for quite some time, says Curran...
...biggest problem will likely be a flood of inventory hitting the market from rising foreclosures, says Bob Curran, a managing director at Fitch Ratings. With a mountain of specialized adjustable-rate mortgages, known as option ARMs and certain Alt-A mortgages, slated to reset over the next 12 to 18 months and unemployment projected to hit 10.5% this year, the number of homeowners defaulting on their mortgages is expected to surge. At least $64 billion in option ARMs will reset in 2010 and another $68 billion in 2011, according to First American CoreLogic, a real estate and mortgage-data company...
...only does Pimco managing director Bill Gross oversee the world's biggest bond fund, his views often sway markets. In a late December interview with TIME's John Curran, Gross pointed to the second half of 2010 as a period when investors large and small will reckon with a new reality of poor economic growth and a Federal Reserve that is hard-pressed to offer much help...
...idea of extending the credit beyond first-time buyers, they wonder if the $6,500 credit is large enough to make a serious dent. "The move-up buyer is buying a more expensive product and yet the amount of money being offered [as a credit] is smaller," says Bob Curran, managing director at Fitch Ratings...
...this led investors to believe a bottom had been reached, says Curran. Many investors may wrongly think the housing sector will see the normal trajectory off the bottom, but that isn't the case, he says. "We still have high foreclosures that will persist into next year, high inventory, an unstable economy and high levels of unemployment" that will prevent the sector from rebounding quickly, he says. (See 10 things to buy during the recession...