Propelled by the nation’s worst epidemic of foreclosures on the heels of the most liberal mortgage underwriting in history, the percentage of home ownership has fallen to a new 20 year low. The rate of homeownership soared to its highest level of 69.1% during the real estate boom in 2005 only to see the worst… Continue reading Rise and Fall of Homeownership
Category: Housing Market
Tearing Down the House
By Paul Kleiman Homes designed by Richard Neutra, highly regarded as one of the leading architects of the 20th Century have been demolished to build new houses. Many people aren’t happy about any teardown deemed to threaten the character of a neighborhood. But whether the home is an architectural treasure or a 1,200 square… Continue reading Tearing Down the House
Home Inspection Needed
By Penny Shreve Have you ever bought a vehicle? Chances are you spent time checking it out looking under the hood, cranking it up and driving before you put down the cash. “Why then, would you not have a home inspection done before buying a house?” asks Kevin Shreve of Shreve Home Inspection in Fairfield,… Continue reading Home Inspection Needed
Have-Nots Growing in New Economy
By John Hines Economist The new economy ushered in by the nation’s financial crisis is developing a growing nation of haves and have-nots. Many of the have-nots are unemployed or under-employed. The foreclosure epidemic is delivering growth in homelessness as a side effect of the housing bust. The homeless population is growing amid the wreckage… Continue reading Have-Nots Growing in New Economy
Home Prices Drop at Record Rates
Real Estate Market Bottom Drops The deflationary cycle of housing prices is falling at the fastest rate since the Great Depression, according to the Housing Predictor index. Home prices are dropping at record rates, averaging a loss in the last 12 months of 13.2%, which is worse than the 10.5% drop of 1932, the lowest… Continue reading Home Prices Drop at Record Rates
Time to Build that Dream House
By David Wilkening In today’s depressed housing market, it might seem like a poor time to build your custom dream home. But perhaps you should “dream on” a little more. One reason is that the cost of building is coming down. “Build now if you are going to build, for building material prices will probably… Continue reading Time to Build that Dream House
Home Mortgage Rates Rising
by Mike Colpitts Editor Like a batter waiting to hit at home plate, many people are waiting and worrying about when its the right time to buy real estate again. Batter up!!! Its time to hit. The mortgage melt down will last well into the next couple of years, but its apparent that interest rates… Continue reading Home Mortgage Rates Rising
Home Exchange Companies Are Growning
By David Wilkening If you have read enviously of rich movie stars having a villa in Rome, a chalet in Switzerland or a resort home in Palm Springs, you can do something similar — essentially have several homes. And you don’t necessarily have to live in a mansion in one of the world’s garden spots,… Continue reading Home Exchange Companies Are Growning
Banks are Nuts
By Tony Evans Im talking banks here, folks. I hate to pick on the Golden State of California, but when Governor Arnold Schwarzenegger thinks about sucker-punching the lottery to try and save the state from the same fate that befell the city of Vallejo in Northern Cal think bankruptcy. I kinda shook my head. But… Continue reading Banks are Nuts
Banking Trickery Exposed
By Tony Evans Years ago in a movie about the oil industry titled “The Formula” I recall a classic line. George C. Scott and Marlon Brando starred in the movie. Brandos character ran an oil trading business. As Scott was leaving Brando’s office, he turned and said, “You’re not in the oil business. You’re in… Continue reading Banking Trickery Exposed