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

Slow Ride to New Paradigm in 2010

Slow Ride to New Paradigm in 2010 By Kevin Chiu Mortgage rates are creeping upward. The sale of foreclosed properties is slowing as bankers catch up with the record volume of homes in default. Money markets remain tight, and the volume of home sales has slowed as a result of government incentives that were expected… Continue reading Slow Ride to New Paradigm in 2010

Foreclosures Maintain Record Rate

Foreclosure filings fell less than one percent in August from the record high foreclosure rate in July, according to the monthly RealtyTrac foreclosure report. Some 358,471 properties had filings, keeping activity 18% above a year ago. One in every 357 U.S. households received a foreclosure filing during the month. After hitting a high for the… Continue reading Foreclosures Maintain Record Rate

Pop Goes the Housing Market

By John Hines Economist Bankers won’t tell you, but bankers are almost always motivated home sellers. They don’t become bankers to be landlords. The U.S. mortgage market is worth $10-billion in profits each year, and the people who peddle money like a pharmacist dispenses pills can make a lot more money making loans. The direction… Continue reading Pop Goes the Housing Market

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

Comparing Today’s Financial Crisis to Great Depression

By Chris Tyler Comparisons between the current financial crisis and the Great Depression are becoming less common these days as the economy seemingly makes strides towards recovery. However, with growing unemployment, rising business failures, climbing bankruptcies and a growing epidemic of foreclosures progress is difficult to gauge. Most economists say the nation has moved into… Continue reading Comparing Today’s Financial Crisis to Great Depression