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On an unadjusted basis, prices dropped 0.9 percent in February, worse than the estimated 0.3 percent decline and following a 0.4 percent downturn in January.
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Even with the tremendous amount of policy stimulus, home sales are still down around 70% from their pre-recession highs. The fact is that it is still taking a record median 14.4 months for homebuilders to locate a buyer upon completion...
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Based on the rate at which banks have been selling those foreclosed homes over the past few months, all that inventory, real and shadow, would take 103 months to unload. That’s nearly nine years.
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Since their bailout, in September 2008, Fannie and Freddie have become more, not less, important to the U.S. housing market. At present, 9 of every 10 new mortgages are sold to, or guaranteed by, arms of the U.S. government...
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We are getting what the Fed wants us to hear. The real story is that Washington simply can’t stop interfering in the mortgage market. If D.C. really did stop, we would have a problem. And they know it.
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The judge asked them to return to court, so he could apologize and reverse his prior decision. Why did he do this? Because in the interim period, he found out that in another two cases two different banks were trying to foreclose ...
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"The trouble of course is the higher end, over $400,000 where investors can't buy with all cash and the mortgage market is closed. Zelman cites a 45 month supply of homes between $400-600,000.
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The truth, as Richard Koo points out, is that were the FASB to show the real sad state of affairs, the two core industries in the US - finance and real estate, would be bankrupt.
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"Public policy is delaying the pig in the python," Zelman told an auditorium full of real estate types. "The pig has lipstick." Zelman is referring to the shadow inventory of foreclosures (the pig) that is making its way through the nation's financia
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During the '70s, the baby boomers started moving out of their parents' homes, and there was a dramatic decrease in the number of persons per household. And that lead to a huge demand for apartments (the surge in total starts).
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Homeless people who built a community of campground tents just a few blocks from downtown Camden got a reprieve Thursday, allowing them to remain, at least for now, at the self-governing settlement in one of the nation's poorest cities.
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Now the average American household has little to no equity. The equity was either squandered in big-spending drawdowns of equity via home equity lines of credit, or it was lost in "moving up" in the housing bubble to costly big homes...
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The UA Economic and Business Research Center report predicts that new-home permits in metro Phoenix this year will jump 54 percent from last year to 13,320. Then, permits will more than double to 28,060 next year.
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A record number of US homes were lost to foreclosure in the first 3 months of this year. The number of US homes taken over by banks jumped 35% in the first quarter from a year ago. Households facing foreclosure grew 16% in the same period and
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"Foreclosure filings were reported on 367,056 properties in March, an increase of nearly 19 percent from the previous month, an increase of nearly 8 percent from March 2009 and the highest monthly total since RealtyTrac began issuing its report in Ja
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The Market Composite Index, a measure of mortgage loan application volume, decreased 9.6 percent on a seasonally adjusted basis from one week earlier. ...
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Here's Meredith Whitney on the direction of home prices. She expects another leg down, probably starting this summer. The video is from CNN.
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And 26 percent of those homeowners are having a “great deal of difficulty” paying off the mortgage, which could mean strategic default if they’re unable to snag a loan modification.
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Delinquent loans jumped 21.3 percent in February compared with a year earlier, according to the latest Mortgage Monitor report released by Lender Processing Services Inc. Monday.
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In Sacramento, California, prices aren’t expected to return to their previous boom-time peaks until after 2039. Same goes for Orlando, Florida.
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If demographics is destiny, then Americas outlook sucks. Brace yourself. We are turning into Japan. As a silver tsunami of 80 million baby boomers retires, they will be followed by only 65 million from generation "X".
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Mortgage Ltd., is also infamous for the problems with it's backer, Radical Bunny. Last week the project was offered at a foreclosure auction for $8 million and not surprisingly, there were no takers.
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At HomeQN, we love to introduce our readers to incredible housing structures. First the amazing stone houses, then the Glass houses and today, we are here with the houses on wheels. Mobility is something which is most talked about in today’s gadgetry
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Florida remains ground zero of the housing bust with an amazing 19.39% delinquency rate. The Tampa Bay area has a delinquency rate of 17%.
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RealtyTrac is forecasting that Houses with $5 million+ mortgages will likely be the next class of loans to go belly up. While the overall numbers are small, they expect to see a sharp rise in foreclosures this year.
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The era of record-low mortgage rates is over. The average rate on a 30-year loan has jumped from about 5 percent to more than 5.3 percent in just the past week. As mortgages get more expensive, more would-be homeowners are priced out of the market
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You have no idea how hard it is for me to report survey results like this. In spite of all that has happened over the past four years, American's refuse to face reality on any level. I guess propaganda beats reality hands down.
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Last month, a record 5,556 homes across metropolitan Phoenix were foreclosed on by lenders, reports the Information Market. That's a 30 percent increase from February. Pre-foreclosures climbed to 8,045 last month, up from 7,604 ...
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Good thing the FASB has allowed all this worthless paper to be carried at par or else we might all realize just how the market trades on vapors, myth and lots of hope.
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I'm also starting to hear rumblings among the number crunchers that the wave of foreclosures we keep hearing about is about to hit with a thunderous roar. Diana Olick
