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
Category: News
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
False Hopes Hang on Bail Out in Housing Crisis
By Mike Colpitts and Everett Jones Credit crisis losses are nearing $8-trillion worldwide as a result of unscrupulous lending by mortgage companies, banks and newly developed instruments on Wall Street to resell the mortgages as securities to investors, a Housing Predictor investigation has revealed. As President Bush signs the Housing Bill sent by Congress into… Continue reading False Hopes Hang on Bail Out in Housing Crisis
Six Steps to Buying Foreclosures
By Cathy Salustri With over 3.1-million more homes at risk of foreclosure, speculators and new homeowners entertain dreams of buying foreclosures to get that real steal. Unlike buying a new or resale home, buying foreclosures takes a key buyer beware attitude so you don’t get burned. Internet based services like Foreclosure.com and Realty Store.com provide… Continue reading Six Steps to Buying Foreclosures
Bold Steps Needed in Foreclosure Epidemic
By Mike Colpitts Half way through the first year of his administration, President Barack Obama has major problems still brewing with the economy triggered by the real estate crash. Hardly anyone expected the Obama Administration to pull off miracles and resolve the troubled economy rapidly. But hopes seem to be diminishing for a turnaround any… Continue reading Bold Steps Needed in Foreclosure Epidemic
US Government to Buy Stock in Fannie and Freddie
By Mike Colpitts Oh, how I hope the majority is wrong! The Bush Administration is handing over a proposal to Congress for the U.S. government to buy stock in America’s two biggest insurers of home mortgages, Fannie Mae and Freddie Mac. The plan would buy stock to keep them afloat, and essentially transforms both companies… Continue reading US Government to Buy Stock in Fannie and Freddie