A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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Posts Tagged ‘ Housing Market ’
Zillow: Phoenix has second-highest rate of underwater homeowners – Bizjournals.com
Los Angeles TimesZillow: Phoenix has second-highest rate of underwater homeownersBizjournals.comSlightly more than half of Phoenix-area homeowners with mortgages were underwater in the first quarter of 2012. Slightly more than half of Phoenix-area home...
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Negative equity remains a drag on housing market – Los Angeles Times
Los Angeles TimesNegative equity remains a drag on housing marketLos Angeles TimesNearly 1 in 3 homeowners with a mortgage in LA County owes more than the property is worth, new data show. These underwater loans hinder mobility and hurt prices because ...
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New-Home Sales Rise – New York Times
AFPNew-Home Sales RiseNew York TimesSales of new homes in the United States increased 3.3 percent in April from March to a seasonally adjusted annual rate of 343000, the Commerce Department said Wednesday, and the rise was latest signal that the housin...
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New Home Sales Rise More Than Expected – Fox Business
Austin American-StatesmanNew Home Sales Rise More Than ExpectedFox BusinessNew US single-family home sales rose more than expected in April and prices pushed higher, further evidence the housing market was turning the corner. The Commerce Department sa...
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Sales of previously occupied homes up in April – USA TODAY
USA TODAYSales of previously occupied homes up in AprilUSA TODAYBy Martin Crutsinger, AP WASHINGTON – Americans bought more previously owned homes in April, a hopeful sign that the weak housing market is gradually improving. David Goldman, AP David G...
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Mortgage Rates in U.S. Fall to Record Lows With 30-Year at 3.79% – Bloomberg
Mortgage Rates in U.S. Fall to Record Lows With 30-Year at 3.79%BloombergMortgage rates in the US fell to a record for a third straight week, reducing borrowing costs as the housing market improves and home-loan defaults decline. The average rate for a...
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Southland housing market strengthens in April – Los Angeles Times
Southland housing market strengthens in AprilLos Angeles TimesBy Alejandro Lazo With sales increasing from the same month a year prior, Southern California's median home price rose 3.6% in April, the first year-over-year pop since late 2010. The me...
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US builders started construction on more homes in April, as confidence in … – Washington Post
CNBC.comUS builders started construction on more homes in April, as confidence in ...Washington PostWASHINGTON — US builders began work on more homes last month, evidence that the battered housing market is slowly healing. The Commerce Department sai...
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Tumbling Homeownership Marks a Return to Normal – Businessweek
For anyone who owns a home, the past six years have seemed anything but normal. Nationally, home prices are down some 35 percent in that time, and in some cities the drop was almost double that figure. Even with some recent signs of improvement, the housing market is likely to bounce along the bottom...
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US homeownership rate at 15-year low – Chicago Tribune
BloombergUS homeownership rate at 15-year lowChicago TribuneHigh foreclosure rates and a strong rental market pushed the homeownership rate in the US to a 15-year low, even as projections for the housing market grew brighter. The 65.4% rate in the firs...
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Bad Neighbor Banks: Homes toxic for neighbors, good for lenders – South Florida Sun-Sentinel.com
I have long made the argument that shadow inventory is a bogeyman which, like shadow boxing, won’t hurt anyone, or at least won’t hurt the housing market in most areas, more than it already has. In effect it’s a sunk cost heavily affecting particular local markets, but will not affect the majority of the...
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WSJ Reports on Bidding Wars in the Housing Market- Video
The Wall Street Journal’s Nick Timiraos interviews Redfin CEO on the current housing market. Surprise surprise! Bidding wars. Comparative Home Sales Chart Related story- Shiller Unaware Bernankinflation Winning Get regular updates on the US housing market, and stay up to date with the machinations of the Fed, Treasury, Primary Dealers and foreign central...
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Lots of Conomic Data Releases, All Of Them Misleading
There’s been lots of conomic data over the past couple of days. I covered the NAHB builder survey yesterday. Regardless of the fact that the housing market is at pathetic levels historically, the builder data showed the rebound off the lows to be on track. Today, the government released data on housing starts to...
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House Prices Up in California
The latest evidence that a bottom of sorts is in for the housing market comes from California. Here’s the PR from the California Association of Realtors. Considering the source, you can take it with a grain of salt, but it’s entirely consistent with the national housing trends I’ve been tracking. LOS ANGELES (April 16) –...
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Housing Market Data Tilts Slightly Positive
Some housing sales data now shows prices with a slight year over year increase including the NAR’s existing home sales and the Commerce Department’s new home sales data. The NAR data is from February, representing mostly contracts from December. It tells us nothing about the current market. The Commerce Department data is more current,...
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What If Housing Is Done for a Generation?
What if housing valuations are in a structural, multi-decade decline?
A strong case can be made that the fundamental supports of the housing market-- demographics, employment, creditworthiness and income--will not recover for a generation. I...
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A Wipeout in REO Recoveries on Horizon
Reuters is out with a story about the pipeline of 1.25 million neglected homes that are headed for auction this year. The inference of the article is that these homes will further depress the housing market. I have no quarrel with that observation, but the larger question is the large recovery losses on these properties....
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Another Sign Bottom is Behind, House Sales Contracts Rise 14%
Contracts for the sale of existing homes rose 15.1% month to month in February, according to data reported today by the real estate brokers lobbying organization. Sales were 14% above the level of February 2011, continuing the rebound in housing market sales. To keep this in perspective the number remains down 37% from the...
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How Housing Affordability Can Falter Even as House Prices Decline
The assumption that lower home prices improves the affordability of houses ignores two critical inputs: interest rates and income.
That the U.S. housing market is still in a post-bubble slump is no secret, as revealed by this chart courtesy of stre...
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Getting Ugly in China
I started writing about Chinese imports into the US over ago . Total product imports started noticeably slowing in the second half of 2011 on a year over year basis and in the five year average, hiccuped ba...
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CoreLogic Data Shows House Price Declines Slowing
CoreLogic’s data for January closed house sales (mostly November contracts) shows a year over year decline of 3.1% nationally. the month to month decline was 1%. However, the 12 month rate of decline has been slowing sharply. According to CoreLogic, 6 of the 10 largest metropolitan markets in the US showed year over year...
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The Trouble With Case Shiller, Again
The Case Shiller housing price index was released this morning and, as usual, it’s getting lots of media attention. I have no problem with that, except for one minor detail. It is a worthless and misleading indicator of current housing market conditions. Back in 2010 I wrote a public article called The Trouble With...
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Obama Bluffs on ReFi?
. &nbs...
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Canada’s Housing Bubble Could Burst This Year
The robust Canadian housing sector, especially the booming condo markets in Vancouver and Toronto, could be at risk in 2012, say the heads of some of Canada's biggest banks.
Gordon Nixon, president and CEO at Royal Bank (TSX:RY), told a banking ...
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Fed Urges Entrapment of More Americans with Mortgage Debt
Jan 9 (Reuters) - The Federal Reserve has launched a potentially controversial push to revive the battered U.S. housing market, calling on other government officials to act after largely exhausting its own tools to support the fragile economic recovery...
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The Fed’s Sleazy Idea Of “Transparency”
Don't believe the propaganda -- whenever the Fed offers "more transparency", they are only looking to twist the knife in Main Street's back further. Their latest announcement about publishing "interest rate projections" is no different...
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Out of Answers, Federal Reserve Can Only Offer Empty Rhetoric
The Federal Open Market Committee (FOMC) is scheduled to issue a statement at 2:15 pm. today (Tuesday), but don't expect anything other than more empty rhetoric.
Indeed, with few options remaining, the Fed is expected to produce little more than a statement designed to reassure the markets following today's...
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The Housing Market Is Still In A Depression
Following the bubble, the housing market's pain has been deep and persistent.
This isn't merely a cyclical downturn. Even six years after the market peaked, the healing process has not yet begun. The industry isn't in recession: it's in a depressi...
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SPX Update: A Discussion on QE3 and the Market’s Potential for Disappointment
Since "to QE3 or not to QE3" is once again the big question on investors minds, I'm going to share my thoughts on this before we get to the charts. The Federal Reserve Board meets next week, and as has become somethi...
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