Foreclosure notices declined in January, but still remain at record high levels for the year, according to the latest Realty Trac monthly report. Some 315,716 properties were tagged with notices during the month nationwide. The decline in notices marked a 10% drop from December numbers, but shows that one in every 409 housing units is… Continue reading Foreclosure Numbers Decline
Category: News
Fueling the Fire of Second Housing Bubble
By Kevin Chiu Government efforts to stabilize the financial system have kept interest rates low, and bought up more than $1.4-trillion in mostly failed mortgage-backed securities. But widespread fraud and other government efforts may already be driving the development of another housing bubble. The FBI says mortgage fraud is still at epidemic levels, which may… Continue reading Fueling the Fire of Second Housing Bubble
Losing Money on House Hard to Handle
By Mike Colpitts Nobody wants to think about it and nobody wants it to happen to them. Losing money is an awful thing to go through. But millions of Americans have seen their stock market portfolios blow-up and their home values erode. Losing money is a hard thing to do. The run up of America’s… Continue reading Losing Money on House Hard to Handle
2010 Mississippi Housing Market
Tough economic conditions are making life rough in Mississippi. State tax collections have been declining for more than a year amid one of the worst economic downturns in the state’s history. The state budget, already in the red, is expected to get much worse before things get better. Still, there are bright spots in the… Continue reading 2010 Mississippi Housing Market
2010 Washington Housing Market
Markets are beginning to rebound in terms of the downturn in housing in Washington, but the major bounce back that many have optimistically hoped for doesn’t seem to have much of a chance of materializing in the near future. Pushed by the federal tax credit, home sales experienced a strong rebound only to fizzle once… Continue reading 2010 Washington Housing Market
2010 Michigan Housing Market
Driven by the lowest home prices in decades, the Michigan housing market has little chance of ever catching up with home prices that residences were once selling for but markets have made compelling improvements over their disastrous fall-outs. The “Big 3” auto companies re-hiring of thousands of workers should eventually help the state recover. As… Continue reading 2010 Michigan Housing Market
No Bottom in Housing Market in 2010
The bottom of the housing market will not develop in 2010 in the majority of U.S. markets as a result of high unemployment, the record plague of foreclosures and tight mortgage lending standards, prolonging the downturn as the economy struggles to recover. The new assessment by Housing Predictor analysts was determined after a lengthy review… Continue reading No Bottom in Housing Market in 2010
No Hurry for Those at Risk of Foreclosure
Senator Jack Reed D-Rhode Island Senator Dick Durbin D-Illinois Senator Sheldon Whitehouse D-Rhode Island No Hurry for Those at Risk of Foreclosure By Mike Colpitts Two months after the proposal to force bankers to work with homeowners at risk of foreclosure was introduced in Congress the bill is bogged down in committee. A House Financial… Continue reading No Hurry for Those at Risk of Foreclosure
Housing Recovery on the Way
Powered by the highest number of home sales in more than two years, the housing market appears to be on the road to recovery at least to some consumers. First time buyers pushed to close purchases before the looming government deadline expired for an $8,000 tax credit. Rock bottom priced triggered a flood of… Continue reading Housing Recovery on the Way
Forty-Eight States in Taxing Turmoil
Forty-eight of all 50 U.S. states are in economic turmoil as a result of the housing bust and the financial crisis. States have laid-off employees, slashed budgets and cut back on services, including schools and emergency services such as police and fire department personnel. “Forty-eight states are in budget crisis,” according to New York Governor… Continue reading Forty-Eight States in Taxing Turmoil