Foreclosure notices declined in January, but still remain at record high levels for the year, according to the latest Realty Trac monthly report. Some 315,716 properties were tagged with notices during the month nationwide. The decline in notices marked a 10% drop from December numbers, but shows that one in every 409 housing units is… Continue reading Foreclosure Numbers Decline
Fueling the Fire of Second Housing Bubble
By Kevin Chiu Government efforts to stabilize the financial system have kept interest rates low, and bought up more than $1.4-trillion in mostly failed mortgage-backed securities. But widespread fraud and other government efforts may already be driving the development of another housing bubble. The FBI says mortgage fraud is still at epidemic levels, which may… Continue reading Fueling the Fire of Second Housing Bubble
Losing Money on House Hard to Handle
By Mike Colpitts Nobody wants to think about it and nobody wants it to happen to them. Losing money is an awful thing to go through. But millions of Americans have seen their stock market portfolios blow-up and their home values erode. Losing money is a hard thing to do. The run up of America’s… Continue reading Losing Money on House Hard to Handle
2010 Mississippi Housing Market
Tough economic conditions are making life rough in Mississippi. State tax collections have been declining for more than a year amid one of the worst economic downturns in the state’s history. The state budget, already in the red, is expected to get much worse before things get better. Still, there are bright spots in the… Continue reading 2010 Mississippi Housing Market
2010 Washington Housing Market
Markets are beginning to rebound in terms of the downturn in housing in Washington, but the major bounce back that many have optimistically hoped for doesn’t seem to have much of a chance of materializing in the near future. Pushed by the federal tax credit, home sales experienced a strong rebound only to fizzle once… Continue reading 2010 Washington Housing Market
2010 Michigan Housing Market
Driven by the lowest home prices in decades, the Michigan housing market has little chance of ever catching up with home prices that residences were once selling for but markets have made compelling improvements over their disastrous fall-outs. The “Big 3” auto companies re-hiring of thousands of workers should eventually help the state recover. As… Continue reading 2010 Michigan Housing Market
2010 Vermont Housing Market
Driven by a slow housing market Vermont home prices dipped slightly, but are the least affected by the financial crisis in the nation. The state had the lowest number of creative adjustable rate and subprime mortgages made by national bankers in the boom resulting in the nation’s lowest foreclosure rate. It isn’t any coincidence that… Continue reading 2010 Vermont Housing Market
2010 Rhode Island Housing Market
Battered by one of the highest unemployment rates in the country, Rhode Island is suffering through one of the worst housing depressions in the nation. Unemployment levels are projected to top 14%, and as more job losses occur foreclosures will follow suit. Rhode Island lawmakers are trying to come up with solutions to the long… Continue reading 2010 Rhode Island Housing Market
2010 Missouri Housing Market
Housing deflation is slowing in Missouri as home sales climb, but the lower drop in home prices does not correlate to a stronger housing market yet. The global financial crisis is impacting mortgage lending in Missouri, which is projected to take a long while yet to get out of its funk. Battered by falling home… Continue reading 2010 Missouri Housing Market
2010 Wyoming Housing Market
A booming economy has been slowed in Wyoming by the national recession, a slower housing market and a downturn in the energy business. But unlike areas that experienced massive explosive growth in housing prices, Wyoming is holding its own in the housing bust and isn’t projected to feel the long wrenching pain in pricing deflation… Continue reading 2010 Wyoming Housing Market