A new federal program that would be tasked with a massive refinancing of mortgages for strapped Americans has been chattered about for awhile, though The White House has never indicated that the idea is on the table.
Now I'm gonna lay forward something that's very, very dark.
Another ticking time bomb in the realm of real estate bad behavior is bound to go off sooner rather than later, and it is likely to impede normalization of values of residential property.
Wages of Americans have been falling (in real dollars) since 1970, making 1970 house-prices a reasonable point-in-time to look at as a possible, long-term equilibrium point for prices. That implies that U.S. house-prices will fall another 75%...
In stark contrast, the cenbanks’ treasuries holdings grew at the second highest rate ever, and not far off the all-time record although the net result was still a significant net sell-off of obligations.
“There is a buildup in delinquent loans that are not in foreclosure,” said Rick Sharga, senior vice president of RealtyTrac, adding that banks and lenders are slowing the process to avoid a drop in home prices. “It’s a managed slowdown...
Home prices fell in 36 states in July, nearly twice the number in May and the highest since last November when national home prices were declining," said Mark Fleming, chief economist for CoreLogic.
Now home buyer confidence is back in the dumps, which is clear from another report out today showing that for the 3rd straight month the percentage of home sellers on the market who have slashed their asking prices at least once has gone up.
The slide in U.S. home prices may have another three years to go as sellers add as many as 12 million more properties to the market.
The Market Composite Index, a measure of mortgage loan application volume, decreased 8.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 27.4 percent compared with the previous week.
Jay Butler, head of Realty Studies at ASU, was interviewed by ABC15 in Arizona saying that the number of underwater homes in Phoenix may be as high as 66-67%. This means a complete bloodbath for housing prices is still just beyond the horizon...
After the Cap and Tax Law is passed by the Senate and signed by President Obama everybody's house must be inspected by Energy Efficiency Police to make sure your house fits in to new guidelines. The EPA gets to take charge of house inspections and
As the economy again sputters and potential buyers flee — July housing sales sank 26 percent from July 2009 — there is a growing sense of exhaustion with government intervention. Some economists and analysts are now urging a dose of shock therapy tha
Nearly half of all Americans who claimed the first-time homebuyer tax credit on their 2009 tax returns will have to repay the government.
Home prices in the region fell 5 percent in August, as did the number of home sales. It was the second consecutive month of declines.
Homeowners are slashing prices more drastically and more frequently, according to recently released data from ZipRealty. The average price reduction is now 7.1 percent of list price.
The worst market in terms of negative equity is Las Vegas. Nearly 73 percent of all loans are underwater! This is simply incredible. Much of the Las Vegas bubble was built from home equity from places like California.
A report is circulating that some housing sales are being recorded at much higher prices than the true sales prices. The report has the smell of truth.
There's no way Andy McDonel is taking down his "Don't Tread on Me" flag. The homeowners association in McDonel's Laveen neighborhood told him to remove the yellow banner with the coiled snake from the front of his house. The HOA called the flag
The sort of nonsense the Realtor’s group peddles helps explain why sellers have incorrectly believed a recovery was imminent, even as housing went through a historic collapse. It is why home owners incorrectly still expect their homes to go...
This begs the question: what happened to these former households? There was doubling up among economically stressed households; in other words people moved in with friends or family.
“I’m steadfast in my belief there’s going to be a double- dip in housing,” she said then. “You will see clearly that the banks are under-reserved when housing dips again.”
The co-creator of the Case-Shiller Home Price Index said he is worried that housing prices could decline for another five years. He noted that Japan saw land prices decline for 15 consecutive years up to 2006.
Imagine what another 20%, 30% or 50% drop in home prices would do. To you yourself, to your neighbors, to your community, your town. And, in the end, the nation.
Now industry executives are questioning whether delaying foreclosures — a strategy contrary to the industry adage that "the first loss is the best loss" — is about to backfire. With home prices expected to fall...
Clearly Florida and Nevada have a large percentage of loans delinquent or in foreclosure. But the delinquency problem is widespread with 36 states and D.C. all having total delinquency rates above 10%.
"If the truth be told, if we are talking about reversing all the bubble appreciation that began a decade ago, then we are talking about another 15% downside from here.
The following chart shows household formation data. It shows new household formation rates through June 2010. The first half of this year saw negative household formation rates in the US, which is unprecedented.
The government is panicked about what will happen to the economy (and voters) if house prices decline further. By subsidizing mortgages through Fannie and Freddie, therefore, the government is now doing everything it can keep house prices as high...
New home sales fell in July to the lowest level on record as the housing market continued to suffer from the end of the homebuyer tax credit boost. This is after yesterday's report of a 27.2% decline in sales of existing homes.