By Mike Colpitts More than half of all real estate investments are concentrated in 30 major cities across the world, according to a new study. Twenty-five percent of property investments are in five metropolitan areas, including New York. The study, conducted by commercial real estate company Jones Lang LaSalle, found that major cities house most… Continue reading Real Estate Investment Concentrated in 30 Cities
Category: District Of Columbia
District Of Columbia housing market
Dirty Money Trail From Wall Street to Main Street
By Mike Colpitts The dirty money trail left in the wake of the financial crisis leads from Wall Street to Washington, D.C. all the way to Main Street. No other single factor has had as much of an impact on the collapse of the U.S. housing market as members of Congress lining their pockets with… Continue reading Dirty Money Trail From Wall Street to Main Street
Home Affordability Reaches 1971 Level
By Mike Colpitts Homes are more affordable to purchase than they have been since 1971 as a result of falling home prices, according to the U.S. Department of Housing and Urban Development (HUD). Despite record low mortgage rates, the downward trend in home values is sustained in the majority of the U.S. The best housing… Continue reading Home Affordability Reaches 1971 Level
Home Prices Tumbled Less in 2011
By Mike Colpitts Home prices tumbled an average of 4.3% on a year-over-year basis through last November, according to real estate analytics firm CoreLogic. The company’s Home Price Index, released Monday, confirmed what other real estate research companies reported – that home prices fell less in 2011 than 2010. The Santa Ana, California based firm… Continue reading Home Prices Tumbled Less in 2011
Index Shows Housing Prices Decline
By Mike Colpitts Housing prices declined an average of 3.9% through the end of October on a year over year basis, according to the CoreLogic housing price index. The index shows that home values have dropped for three straight months, and are especially hard hit in five states. Nevada has led the nation in foreclosures… Continue reading Index Shows Housing Prices Decline
Mortgage Delinquencies Jump First Time in 2 Years
By Kevin Chiu Indicating that long periods of high underemployment and joblessness are hurting the economy, mortgage delinquencies jumped for the first time in two years in the third quarter. The U.S. mortgage delinquency rate rose 5.88% during the period, according to Trans Union. “Until this time, we had seen six straight quarters where progressively… Continue reading Mortgage Delinquencies Jump First Time in 2 Years
Housing Growth Would Aid Economic Recovery
By Mike Colpitts The inventory of new homes for sale is at record low levels in the U.S. constrained by tight credit market conditions preventing new home builders from starting projects, according to the National Association of Homebuilders. Rigid mortgage qualifying standards create anemic lending levels to boost the housing market. The residential real estate… Continue reading Housing Growth Would Aid Economic Recovery
Mortgage Fraud Declines
By Mike Colpitts Mortgage fraud loan originations are estimated to decline nearly 40% in 2011 from $12-billion in damages to the U.S. economy last year, according to real estate research firm CoreLogic. Fraud experts predict that residential mortgage fraud will total $7.4-billion this year. CoreLogic attributes the year over year drop primarily to lower mortgage… Continue reading Mortgage Fraud Declines
Likely Failure in Robo-Signing Talks
By Mike Colpitts Talks between State Attorney Generals in Washington, D.C. and representatives of the Obama administration have yet to provide a settlement for the robo-signing scandal, and many of President Barack Obama’s critics expect that any agreement with bankers will be a sellout of mammoth proportions. Negotiations between the U.S. Justice Department and the… Continue reading Likely Failure in Robo-Signing Talks
Group Urges $15,000 Home Buyer Tax Credit
By Mike Colpitts A national consumer advocate’s group is urging the U.S. Congress to adopt a large home buyers federal tax credit in an effort to re-energize home sales and stabilize residential housing markets. America’s Watchdog Homeowners Consumers Center is urging Congress to offer a $15,000 federal “tax credit to anyone who is qualified to… Continue reading Group Urges $15,000 Home Buyer Tax Credit