Category: Banks

By Mike Colpitts The mass media loves to float ideas — concepts that many times never do become reality. But in the effort to get the news out news sources of all types online, TV and in print jump on the band-wagon. The so-called “BAD BANK” President Obama may propose to handle the toxic mortgages… Continue reading Bad Bank Floating of Swimming

By Brad Risen Economist There are few fundamentals in economics that matter more to the U.S. economy. When the largest sector of the economy is severely beaten and plundered by its business hierarchy the rest of the country suffers. The largest sector of the national economy is real estate from a dollar point of view,… Continue reading Awakening from the Sham

Homeowners are walking away from their homes at all-time historic rates as foreclosures rise in the face of a deteriorating economy, according to a new Housing Predictor study. The fact emerged from a study of 15 metropolitan markets scattered throughout the U.S. as a result of increasing foreclosures. Mortgage experts say the incentive to freely… Continue reading Walk-Aways Pick Up as Foreclosures Rise

By Mike Colpitts Editor More than three years ago housing markets began to bring down the national economy with increasingly sluggish sales. At first home sales faltered in the strong western markets in California, known for leading the nation in a wide variety of businesses, and then in Florida after devastating hurricanes hit the state… Continue reading Real Estate in Economic Cross Hairs

  A member of the U.S. government bailout oversight panel says that if bankers and mortgage companies don’t start restructuring mortgages with loan modifications more aggressively it will be mandated by government leaders. Richard Neiman made the comments visiting Las Vegas to inspect the city’s massive foreclosure epidemic as a member of the panel. Neiman… Continue reading Loan Modifications May be Forced

By Mike Colpitts Editor The bottom of the housing market isn’t close. In fact, Housing Predictor is backing up our forecast for the bottom to hit – all the way to 2010, and it may be longer than that. Fortunately or unfortunately our foreclosure forecast is coming all too true. Now 1 in 10 homes… Continue reading Bottom of Housing Market Not Close

By Mike Colpitts Editor Elected on a platform of “Change,” President-elect Barack Obama may have a chance of turning around the nation’s economy against mounting odds. In the early stages of his rise to the White House, Obama announced the development of a two year economic stimulus package designed to save jobs and improve the… Continue reading Obama’s Chance to Save the Economy

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