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A significant drop in national house prices remains likely.
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#1 Investors can't get loans if they own more than 10 properties. That's even if they're loaded and have great credit #2 The only activity right now are bank-owned properties and short sales.
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Fannie Mae reported its January total serious delinquency rate for single-family houses: the rate hit a new record of 5.54%, a jump from the December's 5.38%, and double the 2.77% in January 2009.
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Some observers say that these suburban communities could become the new slums of America. As baby boomers age, they won't need McMansions and will want to live closer to urban centers. And Generation X and Y already prefer walkable residences...
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That’s 4.5 million homes, and with four people to a household that is eighteen million people. Eighteen million men, women and children put out into the road people who must scramble to find shelter and scramble to find...
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Says S&P's David Blitzer on CNBC: "The rebounding in housing prices seen last fall is fading."
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The problem is that most of the troubled mortgages aren't owned by the banks themselves. They were bundled into securities during the housing boom and sold to investors. To reduce principal payments on those mortgages, banks often must get permiss
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"The rate of decline has been slowing for several months, and if the present trend continues, prices will level off later this spring," said real-estate professor Karl Guntermann, who wrote the new report with research associate Adam Nowak.
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Serious delinquencies continue to rise – in the 64% of the market covered by Mortgage Metrics, there are now about 3.4 million loans either seriously delinquent or in the process of foreclosures. Completed modifications actually declined in each...
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It’s been just a few weeks shy of one year since the Obama Administration announced its plan to help 1.5 million homeowners modify their second mortgages, and the program has actually done something I did not think was possible.
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New home sales drop to a record low adjusted annual rate of 308K. All of the government's housing stabilizing measures are now a disaster, as existing home sales inventory surges to nearly 9 months, not counting the shadow inventory, which is more th
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The Market Composite Index, a measure of mortgage loan application volume, decreased 4.2 percent on a seasonally adjusted basis from one week earlier. ...
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Tyson T. Lawrence at MIT proposed the Chassis + Infill system, consists of two main facets, in his 2003 master’s thesis. The chassis conforms to a specific set of standards, making mass production the most efficient means of construction
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Further additions to the already swollen stockpile of vacant homes represent a threat to house prices and new home construction activity.
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The double dip in housing is getting worse by the month. After hitting a nearly 6.6 million in existing home sales in late 2009, the number has now plunged to 5.02 million, a decline of 0.9% sequentially, and a major drop...
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The administration is "loath to talk about drastic reform to the system until there's more evidence that the housing markets are not going to experience a severe double-dip," said David Min, "If you talk about drastic changes, you'll spook investors.
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And don’t forget the “strategic default” phenomenon. Professor Luigi Zingales at the University of Chicago estimates 35% of home mortgage defaults in December were by folks who could keep up their payments, but decided it just wasn’t worth their whil
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The market can’t clear when new distressed supply is hitting faster than the distressed supply is leaving – remember less than half of CA sales in Feb were from the distressed stock.
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The US housing market will face another retreat while mortgage-backed securities and Treasurys are likely to go through a "material" correction, Meredith Whitney, CEO of Meredith Whitney Advisory Group, told CNBC Tuesday.
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Fall of USSR pushed hundreds of millions of workers into global market, fueling savings glut that drove down rates, former Fed chairman says.
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Housing construction fell in February as winter blizzards held down activity in the Northeast and South. The decline highlighted the challenges facing builders as they struggle to emerge from the worst housing slump in decades. The Commerce Depart
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The bad news is economic growth will probably be sluggish - and unemployment elevated - until residential investment picks up.
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More ominously the spread between hope and reality, or the 1-family Sale Present Time component and the Next 6 Months components, dropped to 9, matching the tightest level over the past year, even as the Prospective Buyer Traffic component dropped...
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This is truly terrific news. This means that of the 6 million in 60 day delinquent 1st lien mortgage outstanding, a whopping 2.8% have gotten relief. Score one for the Obama administration.
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The Federal Housing Administration will need taxpayer money because it failed to properly project how borrowers with FHA-backed loans are affected by job losses and diminished equity in their homes, New York University professor Andrew Caplin told a
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In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave.
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March 5 (Bloomberg) -- Fannie Mae and Freddie Mac bondholders shouldn’t assume the government will make them whole on their investments as Congress disbands the companies, House Financial Services Committee Chairman Barney Frank said. The public
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Last month, about 940 homes were bought at Valley foreclosure auctions, five times the number sold at auction a year ago. And one reason more homes are going to auction is because lenders are dropping prices so they don't have to take homes back...
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“We’re not remaking Fannie and Freddie,” Frank said. “We’re going to start from scratch and do housing finance.”
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Some might say Jon Brumit overpaid when he stumped up $100 for a whole house. Drive through Detroit neighborhoods once clogged with the cars that made the city the envy of America and there are homes to be had for a single dollar.
