The head of the Federal Deposit Insurance Corporation warns over the next two years an additional four to five million mortgages will enter foreclosure if Congress fails to get a handle on the nation’s foreclosure crisis. The remarks by Sheila C. Bair, the FDIC chairwoman, were made before a Congressional committee charged with the task… Continue reading FDIC Backs Housing Predictor Forecast
Category: Banks
Few Short Sale Approvals
James Wexler Short sales, a little understood part of the mortgage lending business, are receiving approvals from mortgage companies in increasingly fewer numbers as banks and mortgage lenders find themselves in growing financial jeopardy. Loan modifications and short sales are at the heart of the nation’s financial crisis since Mortgage Swap Securities traded on Wall… Continue reading Few Short Sale Approvals
Top Markets with Best Chance to Robust Return
There’s nothing wrong with having a little luck on your side when it comes to a bad economy. So with that made clear we list the Top markets with the Best Chance to a Robust Return in real estate. Chief among all of the candidates to return from the housing bust sooner is Austin, Texas,… Continue reading Top Markets with Best Chance to Robust Return
Real Estate Triggered Recession
Economist Fred Foldvary Real estate crashes have led to recessions in the U.S. economy the majority of times major recessions or economic depressions have developed since the early 1800’s. In California, Santa Clara University economist Fred Foldvary may have been the first to predict a recession for 2008 back in 1997. “Macroeconomists are not always… Continue reading Real Estate Triggered Recession
High End Homes Take Hit
The Luxury housing market is taking a hit of its own in the on-going national real estate slowdown, which ever way you want to put it. Home prices in the mightiest of all real estate sectors, from $5-million and up are taking a beating, and the forecast for the long term isn’t looking good, according… Continue reading High End Homes Take Hit
Homebuilder CEOs Cashed Out before Crash
Dwight Schar Dwight Schar’s Palm Beach Estate Zvi Barzilay David Mandarich By Mike Colpitts Editor As the U.S. struggles with the growing economic crisis, many of the nation’s largest homebuilders are battling to stay in business. All of the largest publicly traded building companies have seen their values drop on Wall Street. But many of… Continue reading Homebuilder CEOs Cashed Out before Crash
Bailout Tops $2 Trillion
Editors Note: Housing Predictor originally published this article in October 2008. When it got dark on Wall Street, really, really dark the Bush Administration knew it had to act. But the attempts to save the U.S. economy by the Bush Administration were quickly seen for what they were, failures to rescue the ailing economy. Amid… Continue reading Bailout Tops $2 Trillion
New Vulture Capitalists Forming Line
The waiting line is already being formed of investors to buy up low-priced real estate and mortgage-backed securities cheap. Some 400 different funds are being developed ranging in size from $25 million up to multi billions of dollars, a Housing Predictor investigation has revealed. These investors are composed of investment companies, Real Estate Investment Trusts… Continue reading New Vulture Capitalists Forming Line
Open Letter to U.S. Congress
America is at a cross roads. The U.S. economy has suffered major damages as a result of the nation’s mortgage crisis. Housing prices have fallen in the majority of local markets from coast to coast at unprecedented speed. Financial markets have sustained huge swings in erratic fashion. The nation is in turmoil. As you consider… Continue reading Open Letter to U.S. Congress
New World of Mortgage Lending
By Cathy Salustri Three years ago it seemed anyone could get 100% financing on a half-million dollar home and lenders had a mortgage product for every situation. Today the lending pendulum has swung the other way and lenders are getting back to basics with more conventional mortgages. Lenders say they’re protecting their interests and keeping… Continue reading New World of Mortgage Lending