The nation’s mortgage melt down has evolved into America’s real estate crisis amid falling home prices, record foreclosures and weakening consumer confidence and threatens to produce the nation’s worst economic disaster in history, a Housing Predictor study reveals. The catastrophic damage could be so widespread that the crisis could reach $600 billion in losses to… Continue reading Housing Recession or Worst U.S. Economic Disaster Likely
Category: Forecasts
How Long Will it Take to See Light at the End of the Tunnel
By Mike Colpitts Editor The question everyone has these days is, “How much more will housing prices fall?” The answer to that question lies in the answer to a bigger question all together: How long will it take world credit markets to become functional? Local housing markets economic strengths weigh heavily on local job conditions… Continue reading How Long Will it Take to See Light at the End of the Tunnel
Major Metro Market Forecasts for 2010
The annual major 25 metropolitan housing market forecasts for 2010 are based on population densities in the Greater Metropolitan Statistical areas, and include housing and population density. The forecasts are listed in order from the most populated to the least. Housing Predictor forecasts are issued annually and updated as local market conditions in all of… Continue reading Major Metro Market Forecasts for 2010
Higher Home Values Forecast in 85 Cities
As the recovery of the U.S. housing market gains traction, higher home values are forecast to develop by the end of 2012 in 85 cities, according to Housing Predictor analysts. The upturn in home prices is especially evident in many of the hardest hit states. The growing trend of home price inflation is developing strongly… Continue reading Higher Home Values Forecast in 85 Cities
U.S. Decision Adds 750,000 Foreclosures
By Kevin Chiu The decision of the Obama Administration’s chief housing czar to reject principal mortgage reductions to underwater homeowners at risk of foreclosure is another blow to the U.S. housing market, and will result in at least 750,000 additional foreclosures, according to a Housing Predictor analysis. The heated debate over forgiving mortgage principal is… Continue reading U.S. Decision Adds 750,000 Foreclosures
Former Homeowners Not Applying for Aid
By Mike Colpitts More than 4-million former homeowners whose homes may have been foreclosed illegally by the nation’s largest banks have received letters from the U.S. government asking them if they would like their foreclosures to be reviewed. But so disillusioned by the banking industry and their own situations, the over-whelming majority have failed to… Continue reading Former Homeowners Not Applying for Aid
Home Prices Forecast Higher
By Mike Colpitts Home prices in a larger number of cities are forecast to inflate in value in 2012 as many U.S. cities make inroads towards a housing recovery. Signs of progress are developing in a growing number of U.S. states, including hard hit Florida, Michigan and Mississippi. Improving conditions in many cities are attributed… Continue reading Home Prices Forecast Higher
Appreciation Forecast Tops 100+ U.S. Cities
For the first time in six years, more than 100 U.S. cities are forecast to experience housing appreciation by the end of the year. After strong evidence of growing economic recovery developed in North Carolina and Utah housing markets, the number of U.S. cities projected to inflate in home values hit 105. Driven by near… Continue reading Appreciation Forecast Tops 100+ U.S. Cities
Economists Forecast Sharp Real Estate Rebound
By Mike Colpitts A group of leading U.S. economists forecast broad improvements in the nation’s economy, real estate capital markets and the housing market through 2014. The projection was issued after the Urban Land Institute surveyed economists for its new real estate consensus forecast. The survey of 38 economists across the country, found that 2012… Continue reading Economists Forecast Sharp Real Estate Rebound
Mortgage Rates Drop Under 4.00%
By Mike Colpitts The 30-year fixed rate mortgage dropped to 3.99% or just below the 4.00% barrier this week, according to Freddie Mac. The dip in average mortgage rates from 4.08% last week came on mixed economic news, with reports on consumer confidence over the U.S. economy and the housing market showing weaker results. The… Continue reading Mortgage Rates Drop Under 4.00%