The Pending Home Sales Index, a forward-looking indicator based on contracts signed in January, fell 7.6 percent to 90.4 from an upwardly revised 97.8 in December ...
There definitely is a relationship between delinquency rates and the unemployment rate, although some states stand out (like Florida), because of state specific foreclosure laws. Arizona and Nevada also have higher than expected foreclosure rates...
Despite some reports that suggest the housing crisis may be hitting bottom, foreclosures so far represent the “tip of the iceberg,” real estate analyst, investor and lender Bruce Norris says.
A hearing scheduled for next week before a Congressional subcommittee that could shed light on the future of the two lending giants was canceled. Treasury Secretary Timothy Geithner said that the Obama administration will delay any proposal to reform
Lest someone think the market is all safe and sound, here comes the FHA to remind that without government subsidies we are all staring at the sub 666 S&P abyss.
Freddie Mac reported that the rate of serious delinquencies - at least 90 days behind - for conventional loans in its single-family guarantee business increased to 4.03% in January 2010, up from 3.87% in December - and up from 1.98% in Jan. 2009.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – dropped 7.2 percent to a seasonally adjusted annual rate1 of 5.05 million units in January from a revised 5.44 million in December...
The main reason for continued decline, according to Mark Zandi, economist and co-founder of Economy.com, is foreclosures -- the same thing that's plagued markets for the past three years.
Contract rights don't matter, law doesn't matter, we'll just ignore all of that pesky stuff when we don't like it.
Remember the baby boomers? You know, the ones with all the money? As they downsize from McMansions to condos to assisted living facilities, their net shrinkage in demand for housing is going to be in the tens of millions of square feet per year.
Suddenly the collapse in lumber prices is making more and more sense.
This is 11.2 percent (±14.0%)* below the revised December rate of 348,000 and is 6.1 percent (±15.1%)* below the January 2009 estimate of 329,000.
Negative equity is concentrated in five states: Nevada, which had the highest percentage negative equity with 70 percent, followed by Arizona (51 percent), Florida (48 percent), Michigan (39 percent) and California (35 percent).
Seriously delinquent FHA loans, those 90 days or more late, jumped 62.1% in the past year to 558,944, or 9.4% of FHA loans, as of the end of January, according to agency statistics released on Friday. The FHA, however, insists its finances are sound.
The other big theme: If you're waiting for the market to come "back," then you're going to have to wait for years.
Of the 7.7 million delinquent homeowners, we actually think that only about 1.6 million will be able avoid losing their homes, and that the remaining 6.1 million will lose their homes.
There is a deep well of angry sweeping across the land.
Simon Property Group, the nation's largest shopping mall owner, announced Tuesday a hostile $10 billion bid for General Growth Properties. (Worthless Commercial Real Estate comp. buying more worthless real estate????)
Many college grads are moving back home because they have no job. Forget about buying, these recent grads can’t even afford a rental. So the vacancy rate in rentals and housing units is at record levels.
Homelessness in rural and suburban America is straining shelters this winter as the economy founders and joblessness hovers near double digits—a "perfect storm of foreclosures, unemployment and a shortage of affordable housing," in one official's eye
Loan modifications and the observed extension of time distressed loans remained as such may simply have delayed the inevitable, creating the demonstrated shadow inventory of troubled loans.
The Market Composite Index, a measure of mortgage loan application volume, decreased 2.1 percent on a seasonally adjusted basis from one week earlier. ...
Mortgage delinquencies of 60 or more days rose for the 12th straight quarter, hitting a record high 6.89% in Q409, according to market research by credit bureau
The latest estimates are for another five million delinquent mortgages to go through foreclosure (or alternatively, short sales) over the next few years. Currently, there is an estimated 7.7 million households in some stage of pre-default delinquency
As the U.S. housing market boomed in the past decade and fueled a bull market in mortgage investments, Norway's government-owned fund went along for the ride -- and the fall. After that fund recorded its worst-ever year in 2008, managers cited invest
Tim Barker never thought he'd have to live in his truck. Four months ago, the plumber was in a one-bedroom apartment in California's San Fernando Valley, with a pool and a Jacuzzi. Then, on his birthday in October, he and 199 other plumbers were laid
A growing trend among homeowners with upside-down mortgages is simply walking away from their homes without even trying to get a loan modification, according to local mortgage brokers.
Citigroup, to announce a pilot program on Thursday that would allow delinquent borrowers who don’t qualify for or decline mortgage relief the opportunity to stay in their homes without making payments for up to six months before turning over the keys
If these declines are sustained, as we expect to happen in many markets, the result will be a “double dip ” in home values, defined as two periods of sustained declines in home values separated by a brief period of stabilization or recovery.
“If history repeats itself we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternatives