Walk-Aways Pick Up as Foreclosures Rise

Homeowners are walking away from their homes at all-time historic rates as foreclosures rise in the face of a deteriorating economy, according to a new Housing Predictor study. The fact emerged from a study of 15 metropolitan markets scattered throughout the U.S. as a result of increasing foreclosures. Mortgage experts say the incentive to freely… Continue reading Walk-Aways Pick Up as Foreclosures Rise

Real Estate in Economic Cross Hairs

By Mike Colpitts Editor More than three years ago housing markets began to bring down the national economy with increasingly sluggish sales. At first home sales faltered in the strong western markets in California, known for leading the nation in a wide variety of businesses, and then in Florida after devastating hurricanes hit the state… Continue reading Real Estate in Economic Cross Hairs

Loan Modifications May be Forced

  A member of the U.S. government bailout oversight panel says that if bankers and mortgage companies don’t start restructuring mortgages with loan modifications more aggressively it will be mandated by government leaders. Richard Neiman made the comments visiting Las Vegas to inspect the city’s massive foreclosure epidemic as a member of the panel. Neiman… Continue reading Loan Modifications May be Forced

Bottom of Housing Market Not Close

By Mike Colpitts Editor The bottom of the housing market isn’t close. In fact, Housing Predictor is backing up our forecast for the bottom to hit – all the way to 2010, and it may be longer than that. Fortunately or unfortunately our foreclosure forecast is coming all too true. Now 1 in 10 homes… Continue reading Bottom of Housing Market Not Close

Obama’s Chance to Save the Economy

By Mike Colpitts Editor Elected on a platform of “Change,” President-elect Barack Obama may have a chance of turning around the nation’s economy against mounting odds. In the early stages of his rise to the White House, Obama announced the development of a two year economic stimulus package designed to save jobs and improve the… Continue reading Obama’s Chance to Save the Economy

FDIC Backs Housing Predictor Forecast

The head of the Federal Deposit Insurance Corporation warns over the next two years an additional four to five million mortgages will enter foreclosure if Congress fails to get a handle on the nation’s foreclosure crisis. The remarks by Sheila C. Bair, the FDIC chairwoman, were made before a Congressional committee charged with the task… Continue reading FDIC Backs Housing Predictor Forecast

Few Short Sale Approvals

James Wexler Short sales, a little understood part of the mortgage lending business, are receiving approvals from mortgage companies in increasingly fewer numbers as banks and mortgage lenders find themselves in growing financial jeopardy. Loan modifications and short sales are at the heart of the nation’s financial crisis since Mortgage Swap Securities traded on Wall… Continue reading Few Short Sale Approvals

Top Markets with Best Chance to Robust Return

There’s nothing wrong with having a little luck on your side when it comes to a bad economy. So with that made clear we list the Top markets with the Best Chance to a Robust Return in real estate. Chief among all of the candidates to return from the housing bust sooner is Austin, Texas,… Continue reading Top Markets with Best Chance to Robust Return

Real Estate Triggered Recession

Economist Fred Foldvary Real estate crashes have led to recessions in the U.S. economy the majority of times major recessions or economic depressions have developed since the early 1800’s. In California, Santa Clara University economist Fred Foldvary may have been the first to predict a recession for 2008 back in 1997. “Macroeconomists are not always… Continue reading Real Estate Triggered Recession

High End Homes Take Hit

The Luxury housing market is taking a hit of its own in the on-going national real estate slowdown, which ever way you want to put it. Home prices in the mightiest of all real estate sectors, from $5-million and up are taking a beating, and the forecast for the long term isn’t looking good, according… Continue reading High End Homes Take Hit