Rental rates are declining along with home prices in the majority of the nation, according to new reports. It’s good news for renters, but another sign that the economy is weakening as job losses and worsening consumer confidence force many renters to seek cheaper housing. The new studies also indicate that investors are less likely… Continue reading Rental Rates Drop
Category: Credit
Awakening from the Sham
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
Walk-Aways Pick Up as Foreclosures Rise
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
Real Estate in Economic Cross Hairs
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
Loan Modifications May be Forced
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
Bottom of Housing Market Not Close
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
Obama’s Chance to Save the Economy
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
FDIC Backs Housing Predictor Forecast
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
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