Housing prices get a major lift from reductions of smog and other pollutants, according to a study conducted by the National Bureau of Economic Research. After all, given the choice who wouldn’t want to live in an area with plenty of clean air to breathe each day? The study was gathered by researchers Kenneth Chay… Continue reading Clean Air Produces Higher Home Prices
Category: Housing Market
2012 West Virginia Housing Market
West Virginia has known hard times for generations so the current state of the U.S. economy is nothing new to those who make their home in West Virginia, which has one of the highest rates of poverty in the U.S. and perhaps the most dilapidated housing in the country. But a positive development has emerged… Continue reading 2012 West Virginia Housing Market
2012 Michigan Housing Market
The headlines over Michigan have been blazing for years. The state is in financial ruin, more than two-thirds of its biggest city residents have left and the real estate market is in shambles. But wait a second… Things just may be getting better in Michigan, the state that entered the housing bust first. Prices have… Continue reading 2012 Michigan Housing Market
U S Foreclosures Drop Huge
By Mike Colpitts Formal foreclosures or homes that were repossessed by their lenders accounted for 830,000 U.S. homes in 2011, a huge drop of 24% from 2010, according to real estate data research firm CoreLogic. The decline comes as a result of moratoriums enacted by the nation’s five largest mortgage lenders to study damage from… Continue reading U S Foreclosures Drop Huge
Bankruptcy Drop Shows Economic Upside
By Mike Colpitts Consumer bankruptcy filings declined through the latter half of 2011 and have now reached pre-recession levels, indicating a positive sign for the U.S. economy, according to credit report bureau Equifax. The drop in bankruptcy petitions paralleled a similar decline in foreclosures. Consumer and commercial bankruptcies dropped steadily from the second quarter of… Continue reading Bankruptcy Drop Shows Economic Upside
Home Builder Confidence Upswing
Home builder confidence in the senior housing market, age 55 and older, rose four points to 18 compared to a year ago, according to the National Association of Home Builders housing market index. The 55 plus single family index measures builder sentiment based on current home sales, new home buyers’ walk-in traffic and projected home… Continue reading Home Builder Confidence Upswing
2012 Mississippi Housing Market
Mississippi has experienced its challenges over the years, especially when it comes to the economy and Mother Nature. But the Mississippi real estate market is showing improving signs of recovery, despite tough economic realities. Homes in South Mississippi along the Gulf Coast, which was all but destroyed by Hurricane Katrina are selling at a faster… Continue reading 2012 Mississippi Housing Market
States Mortgage Settlement to Aid Wrongly Foreclosed
By Mike Colpitts The mortgage settlement reached by 49 state attorneys general and the U.S. government requires banks and mortgage servicers to implement changes servicing mortgages, handling foreclosures and attempts to insure the accuracy of information provided to federal bankruptcy courts in an unprecedented manner. The $25-billion agreement requires new bank servicing standards in an… Continue reading States Mortgage Settlement to Aid Wrongly Foreclosed
Housing Market to Bottom in 2014
By Kevin Chiu The bottom of the housing market in most U.S. cities will likely begin to form in 2014 as banks and mortgage lenders realize that homeowners who are unable or unwilling to pay their mortgages work with them to reduce the number of foreclosures. The record breaking volume of foreclosures has started to… Continue reading Housing Market to Bottom in 2014
Mortgage Modifications Slip, but Outpace Foreclosures
By Mike Colpitts More than 1-million U.S. home mortgages underwent permanent modifications in 2011, according to the independent alliance of mortgage servicers Hope Now. The figure represents a steep decline of 40% from a year ago, but outpaces the number of foreclosures sold during the year. In December affiliates of the organization completed 80,000 loan… Continue reading Mortgage Modifications Slip, but Outpace Foreclosures