Links for today:
Hilarious take on the buy versus rent issue. (via @justmohit)
The Social Media outrage and how it impacts BP.
MediaNama: TRAI proposes do-call registry. Send in your comments today.
Jim Cramer decides to first buy BP and then er…not like it, in about 15 days.But hey, when the facts change, you change, right? Stupid not to.
US Mortgage applications go down 35% in four weeks, after the expiry of a tax credit. Even with mortgage rates at under 5%, people aren’t jumping to buy houses. As CR says, the tax credit will carry sales – reported upto two months after the apps – high until June, which means nice data reported till August (when June data will be out). Come September and things are going to look lousy. A ridiculous “extend-and-pretend” bill in the Senate is trying to get three EXTRA months to close purchases.
Also from CR: Weekly unemployment initial claims in the US are at 456,000, which is still fairly high and the unemployment rate in the US in May – official – was 9.7%.
Value Research: “Smoothening” expenses, a debt-fund practice that might be stopped by SEBI.
