Category: Housing Market

Vice President Joe Biden Laughing Stock

Vice presidents have historically played the fool to U.S. presidents, and Vice President Joe Biden is quietly proving to be cast better than most Hollywood producers could dream. In limited media coverage, the vice president announced a milestone of 200,000 homes being weatherized with Troubled Asset and Relief Program funds on a trip to Manchester,… Continue reading Vice President Joe Biden Laughing Stock

Investment Fund Launches $100 Million Effort

By Mike Colpitts An Atlanta based firm has formed a real estate investment fund with an ambitious goal of raising $100-million to invest in troubled homes and apartments in an effort to produce high net profits for investors. The new company is jointly owned by principals of an investment firm, Avalon Investment and Securities Group,… Continue reading Investment Fund Launches $100 Million Effort

Poll Shows Hardly Anyone Trusts Bankers

At a time when Congress has the lowest approval record in history, bankers receive even lower marks for being trusted by the public at large, according to a new Housing Predictor survey. The latest opinion poll found that only 3% of all those surveyed trust bankers to have consumers best interests in mind. An over-whelming… Continue reading Poll Shows Hardly Anyone Trusts Bankers

Outrage Rises over Sinking Home Prices

By Kevin Chiu Home mortgage purchase applications fell for nearly two straight months. The plunge in home sales was evident to real estate economists, yet those polled for the survey some how refused to see the evidence for what it was. Refinancing mortgages is becoming the main-stay of the mortgage business, indicating that homeowners who… Continue reading Outrage Rises over Sinking Home Prices

Refinancing Applications Rise

Spurred by record low mortgage rates, applications to refinance home mortgages rose to a new high last week and applications for new home mortgages were up slightly, according to the Mortgage Bankers Association. The rate at which consumers are applying to refinance their home mortgages hit a new peak. The bankers’ market composite index, which… Continue reading Refinancing Applications Rise

Miami Condo Sales Soar

By Kevin Chiu Once the nation’s epicenter in the real estate collapse Miami, Florida condo sales are soaring, up 43% over year ago levels, according to the Miami Association of Realtors. The Miami housing market has now experienced rising sales for nearly two straight years. Miami ’s condominium market tanked even before the financial crisis… Continue reading Miami Condo Sales Soar

Fresh Evidence Rescue Program Stalls

There are no gifts in this housing recovery. Homeowners received the lowest number of permanent modifications since Christmas this last month through the Obama administration’s Making Home Affordable program, and the number of homeowners dropping out of the rescue program is rising. Nearly half of the number of people entering the program has dropped out… Continue reading Fresh Evidence Rescue Program Stalls

Homes Sales Decline Amid Deeper Economic Worries

By Mike Colpitts Home sales declined sharply in July after the expiration of the home buyer tax credit, falling 27.2% to the lowest level in 15 years, according to the National Association of Realtors. The fall in existing sales was widely anticipated among real estate analysts, who expect deeper economic worries as a result of… Continue reading Homes Sales Decline Amid Deeper Economic Worries