Home Sellers Cut Asking Prices By $27.8 Billion
The housing market is recovering and then it isn’t. New data from Trulia says that Americans cut the prices on their homes by an aggregate of $27.8 billion in the year ending August 1.…
Housing
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Newest first · Page 201The Fates Conspire Against The Housing Market
Two pieces of information came into the market today, both about the trouble housing situation. The foreclosure filings and the interest rates on 30-year fixed rate mortgages affect the housing market in different but…
Foreclosures Make Huge Move Up In July
The plague of foreclosures is still overrunning the US real estate market, and the situation may actually be getting worse. RealtyTrac reports that July numbers rose 7% month-over-month and 32% over July last year,…
Underwater Mortgages Reach Epidemic Levels
Posit: Underwater mortgages hurt home sales and increase delinquencies and foreclosures. People who have to pay their mortgage holder to sell their homes are less likely to be sellers. A home sold for $200,000…
Housing Take: Rising Prices in Pending Home Sales
The reading for pending home sales in June is showing a continued return to of housing, or at least that the worst is over. The June figures came to +3.6%, marking the fifth consecutive…
More Signs The Government Mortgage Recovery Plan Is Flawed
The plan to keep people in their homes when they cannot make their current monthly mortgage payments has run into a raft of problems. The most obvious is that homeowners with underwater mortgages will…
Case-Shiller Price Index Gains, Sort Of
The Case-Shiller housing price data is a lower-impact housing number because of the notion that the data is older than some other reports already on the market. This morning’s data for May 2009 did…
Foreclosures Become A Bank’s Best Friend
The Washington Post has talked to some economists who have confirmed what many analysts already believed. Banks are often better off allowing homes to go into foreclosure than they are modifying loans. The Administration…
Lower Housing Prices Generating Much Higher Sales (XHB, ITB)
The Commerce Department’s data on new home sales did not just rise in June for a third straight month. The new home sales rose sharply. The headline number came in at an 11% gain…
When Bad Housing Data Starts Looking Good
The reading on existing-home sales, or used-home sales, managed to post another gain in June. The reading for June was 4.89 million units on an annualized basis, which is above the 4.72 million reported…
California: A Budget Agreement That Breaks The State
The politicians who run California have come to a budget agreement that may take care of most of the state budget deficit, but it will drive California much deeper into recession. To close a…
The Government Gums Up The Mortgage Business
The mortgage industry is pointing fingers at the Obama administration Thursday for falsely raising expectations of how the banks can help consumers avoid foreclosure. What they cannot or will not say is that a…
Homebuilders Look Less Depressed in Survey (XHB, ITB)Homebuilders Look Less Depressed in Survey (XHB, ITB)
It looks like the NAHB survey of homebuilders are again feeling a bit “less-bad” than in recent surveys. The survey for July shows a reading of 17, up from 15 in June. The boost…
Foreclosures Take The Economy By Storm, Again
The government might have expected that it could have some effect on foreclosure rates by working with banks to make money available to homeowners and by setting up programs for modifying existing mortgages to…
If Uncle Sam Takes Mortgages and Becomes Landlord
What if the government adopted a new strategy on how to keep homes occupied by delinquent and troubled owners by letting them stay in the house as a renter? This may sound crazy or…