In a massive action to keep the housing market on government life support, the Treasury Department pledged to provide unlimited financial assistance to the largest insurers of home mortgages, troubled Fannie Mae and Freddie Mac. The move, announced on Christmas Eve with members of Congress already on their way home out of Washington, D.C. for… Continue reading Treasury Keeps Housing on Life Support
Category: Sales
Markets on the Mend in Time for Christmas
By Kevin Chiu It’s the season of comfort and joy, Christmas trees and Santa Claus flying down the chimney. All of us wish for World Peace. We hope for a New Year that will be better than 2009 when the World’s financial system nearly blew up on Wall Street. In the face of all the… Continue reading Markets on the Mend in Time for Christmas
Housing Affordability Hits New Highs
The two oldest indexes on housing affordability have reached new highs, indicating low interest rates, lower home prices and the first time home buyers tax credit are improving sales. Lower housing prices have produced a rush of cash strapped investors to purchase homes and are knocking out many first time buyers, who are trying… Continue reading Housing Affordability Hits New Highs
The Big Fix in the Housing Mess
By Mike Colpitts The housing market is starting to show signs of mending from its deflationary cycle. The Fed’s move to hold interest rates at or near 0% for an extended period of time and other actions being orchestrated are moves to fix housing and get the economy back on track. Low interest rates aren’t… Continue reading The Big Fix in the Housing Mess
Return to 60s Home Prices
By Kevin Chiu Who could deny lyrics like, “I love you, yea, yea, yea?” It was the heyday of the Beatles. Andy Griffith was walking his beat in Mayberry. Donna Reed made primetime television fun and the Hippie era made life interesting. The 1960’s have a memorable nostalgia in Americans hearts– The good ol’ days… Continue reading Return to 60s Home Prices
Beware of False Bottoms in Housing
By John Hines Economist Euphoria can be a dangerous emotion. Economic intricacies are tough enough for even the most practiced of economists to read in real estate markets. But the worst recession since the Great Depression is pointing to a longer downturn yet in housing. A new economy is slowly emerging from the catastrophe of… Continue reading Beware of False Bottoms in Housing
How Contract Abandonment is Helping Restore the Real Estate Market
Leave Morality Out Of It: How Contract Abandonment Is Helping Restore Reality to The Real Estate Market By Jared H. Beck, Esq. Beck & Lee Business Trial Lawyers Miami, Florida “Ditching Condo Deal May Have Been Smart.” That recent headline from the Palm Beach Post announced what many who bought condo units in the preconstruction… Continue reading How Contract Abandonment is Helping Restore the Real Estate Market
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
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
Lending on Steroids Triggers Bigger Bust
By Mike Colpitts Editor As the nations real estate crisis worsens beyond what once seemed unimaginable, a new Housing Predictor analysis shows that the crisis will deflate the value of U.S. homes in the majority of the country between 55 and 70% on average from the markets highest peaks. The amount of deflation depends on… Continue reading Lending on Steroids Triggers Bigger Bust