For Immediate Release
Chicago, IL – January 27, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: BlackRock (BLK), Fannie Mae (FNM), Freddie Mac (FRE), MGIC (MTG) and JPMorgan Chase (JPM).
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Here are highlights from Tuesday’s Analyst Blog:
Home Prices Edge Up
It is silly to expect that individual homeowners should be held to a different standard than big institutional investors are when they face the same problem. After all, BlackRock (BLK) and Tishman Speyer could have come up with the money to pay the mortgage on Stuyvesant Town (the big NYC apartment complex that just went into default) but they chose not to do so because it was far underwater. Their situation was no different than that of an individual homeowner who has a house that is now worth $200,000 that has a $300,000 mortgage on the place.
Of course, if you combine being underwater with being unemployed, then simply not paying the mortgage and waiting for the sheriff to show up at the door is by far the smartest move. It might be the only way for the family to survive in this environment.
Yes, there are non-economic factors involved, and most people who are only slightly underwater do not default unless they run into cash flow problems. Still, if housing prices start to move up, then thousands of people who might be right at the line of stopping payment might just decide it is worth it to keep the house.
It is the flood for delinquencies and ultimately foreclosures that has been at the heart of the economic crisis. Rising prices greatly improve the situation for firms throughout the mortgage complex, from Fannie Mae (FNM) and Freddie Mac (FRE) to the mortgage insurers like MGIC (MTG) to the big banks like JPMorgan Chase (JPM).
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Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
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