House prices have to decline at least another 20.3% to come back to the historical trend and may have much further to fall, according to Peter Schiff of Euro Pacific Capital.
I didn’t have to go to the concert– I had the best seat in the house right from my own balcony, sort of like the Wrigley Field Rooftops in Chicago.
A particular favorite of mine due to its scenic beauty, healthy living, and rock bottom prices, is Ecuador. They literally give away land for free, and it costs nothing to live quite well in the major cities.
If I sell you something and you "pay" me with counterfeit currency the sale is void as you never gave actual consideration. Not only did you commit a felony passing the bad currency but as a matter of basic...
The role of the criminal justice system with regard to financial fraud by elite bankers in 2011 is likely to reprise its role last decade -- de facto decriminalization. The Galleon investigation of insider trading at hedge funds will take much of the
The regulators said one reason for the increase in foreclosures is that banks have "exhausted" options for keeping many delinquent borrowers in their homes through programs such as loan modifications.
The assembly line perjury the banks have committed are harder to hide in mass foreclosure venues. Which is what makes this touching Christmas Eve story all the more peculiar:
"That tax credit stole demand from the future and its expiration led to another 30% fall in home sales, pushing Case & Shiller lower for the last few months," Roubini wrote in a text message earlier this morning.
A funny—or not so funny—thing happened on the way to housing recovery...
Housing guru Robert Shiller says the decline in October's Case-Shiller house-price index was much worse than expected (over 10% annualized).
For the three generations of the Maggi family crowded into a recession-beaten three-bedroom ranch house here, the tension from living on top of one another for the last 10 months sometimes erupts at unexpected moments.
“The housing market is going to shock people,” said Lieberman, former head of monetary analysis at the Fed Bank of New York. “Once we get the ball rolling, it becomes easy to roll.
Home prices are dropping in the nation's largest cities and are expected to fall through next year, with the worst declines coming in areas with high numbers of foreclosures.
“The inventory overhang is so big, with foreclosures looming, it’ll take five years to absorb the supply,” said Paul Ballew, chief economist at Nationwide Mutual Insurance Co. in Columbus, Ohio.
There can be people in a few years time who claim by hell and high water that their homes are still worth $500,000, but they will have neighbors who sold for $100,000, $50,000 or less. Price discovery can be...
New figures from the Federal Housing Finance Agency also show that prices of homes sold in Arizona are down more than 9.3 percent from the same period a year earlier.
The state legislature passed a law making it easier for lenders to win disputes over homeowners about impending foreclosures. The process moves so quickly that homeowners receive less than 2 weeks' notice their house is about to be auctioned
This was written two years ago. My few predictions there have come to pass, most notably people being trapped in their homes and unable to move to where a better (or any) job may be. As this article is over 6000 words, without visiting the links, yRead Letter
Federal Reserve statement: In fact, home prices still must fall 23 percent if they are to revert to their long-term mean (Chart 1).
New home sales continue to bounce along the bottom, with the November number coming in at 290K, 10K below expectations. This number will likely be revised lower next month, just like the October number was...
Local governments are responding to declining revenues by jacking up all taxes and fees. To counteract sharp declines in property values, municipalities are raising their property taxe rates, squeezing more out of properties even as they drop...
The lack of willingness of the local police to deem destroying property and unauthorized entry as criminal acts leaves wronged parties with litigation as their only recourse. And some are filing suits.
Chris Whalen of Institutional Risk Analytic’s presentation at a conference in early October of 2010, showed those in attendance a terrifying picture of where our too-big-to-fail banks are headed in 2011…
Chris Whalen of Institutional Risk Analytic’s presentation at a conference in early October of 2010, showed those in attendance a terrifying picture of where our too-big-to-fail banks are headed in 2011… they’re headed towards failing...
When Mimi Ash arrived at her mountain chalet here for a weekend ski trip, she discovered that someone had broken into the home and changed the locks. Bank of America had wrongfully foreclosed on her house and thrown out her belongings, without alerti
Median prices for the sale of existing homes have been falling since June, when a federal homebuyer tax credit expired and an increase in foreclosures helped drive down prices that had been steady for nearly a year.
More than two-thirds of foreclosures occur in the 27 states where there’s no mandatory court supervision, according to Christopher Dodd, the chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs.
In fall 2009, she went to a conference on foreclosure research in Southern California. It was there that she first heard about forensic mortgage auditors. Finally, she thought, somebody could help her find answers.
He knows of 20 people personally in his community who have mortgages of over $20,000 a month who have not made a payment in over a year. As with his case, there has not been a peep from the bank about the failure to pay.
“For the first time in the nation’s history, there is no longer an authoritative, public record of who owns land in each county.” — University of Utah law professor Christopher Peterson