Washington follows us!

One of my personal highlights of the recent Treasury meeting to address housing problems was to discover that HUD has been following the CME futures markets – and uses changes in the prices of forward contracts as indications of changes in sentiment on forward home prices. 

This graph, that shows the changes in CME contract prices between Jan. 2009 and July 2010, is from the second page of a monthly publication titled “The Obama Administration’s Efforts To Stabilize The Housing Market and Help American Homeowners”, otherwise known as the monthly housing scorecard.  (see link below for entire 8-page report.

http://portal.hud.gov/portal/page/portal/HUD/initiatives/Housing%20Scorecard%20Documents/JULY_Scorecard_1.10.pdf

Regardless of your politics, the package is a useful tool with 16 graphs and a tally of many housing metrics.

Beyond this report the HUD website is great springboard to press releases on programs designed to help borrowers.  As many efforts by the Government to address distressed homeowners may have an impact of foreclosures, housing inventory, and therefore pressure on home prices, the programs are worth understanding.

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