"I'm going to be all over them." – Treasury Secretary Henry Paulson, announcing what he will do if data to be released this week doesn't show an increasing number of homeowners being saved from foreclosure by the Hope Now Alliance of mortgage lenders, servicers and other related firms that Paulson helped create.Complete Story »" (2008-2-7)
February 7, 2008
Housing Market Tracker - Goldman Wants Subprime but Still Sees Trouble
GGP Final Analysis: Fire Sale of Prime Properties
As of late, credit markets have become dysfunctional, or put more
accurately, “functional” in the prudent pricing of risk in the wake of
losses incurred by financial institutions and lenders owing to the OPM
(other people’s money) methodology of writing loans destined for sale
through market securitization. The resultant problem of ‘shrinking
liquidity’ is aggravating the operations, to say the least, of many
real asset and related financial concerns. In particular, this has
considerably impacted the ability of commercial real estate companies
including General Growth Properties (GGP), which has huge debt obligations payable in next few years, to refinance its loans and capital expenditure [capex]
requirements.Complete Story »" (2008-2-7)
Housing Market Tracker - Sales/Prices Dropping, Even for Celebs
" "I've obviously had to eat my 'soft landing' words. - Leslie Appleton-Young, chief economist for the California Association of RealtorsComplete Story »" (2008-2-7)
February 6, 2008
Mortgage application volume rises
"Mortgage application volume increased 3 percent during the week ending Feb. 1, according to the trade group Mortgage Bankers Association's weekly application survey." (2008-2-6)
Chart Fun With the S&P Case-Shiller Home Price Index
"By popular demand, the collection of charts featuring the S&P
Case-Shiller Home Price Index has been updated.Complete Story »" (2008-2-6)
February 5, 2008
Western Cities Top U.S. Home Price Declines
" As we typically do each month, below we highlight some updated
housing charts based on the most recent S&P/Case-Shiller Median
Home Price indices.Complete Story »" (2008-2-5)
Housing Market Tracker - Despite Efforts, Subprime Fallout Spreads
"Increasing Fannie's limit is like going on a spending spree with your credit cards because you know you are going to file for bankruptcy in a few months."Complete Story »" (2008-2-5)
February 3, 2008
Housing Market Tracker - Foreclosures Soar
Foreclosure Data show that 1 In 50 Homes are Foreclosing. (2008-1-30)
More Record Home Price Declines
"Tim Iacono submits: Macromarkets just released the November data(.pdf)
for the S&P/Case-Shiller Home Price Indices showing an 8.4 percent
year-over-year decline for the 10-City Composite Index, the steepest
decline on record.Complete Story »" (2008-1-30)
U.S. home prices plunge by a record
"U.S. home prices plunged by a record 8.4 percent in November, marking two years of slowing returns, according to a key index released Tuesday." (2008-1-29)
New home sales fell by record amount in 2007
"Sales of new homes plunged by a record amount in 2007 while prices posted the weakest showing in 16 years." (2008-1-29)
Existing-home sales dropped in December
"Sales of existing homes fell in December, closing out a horrible year for housing in which sales of single-family homes plunged by the largest amount in 25 years." (2008-1-24)
Biggest drop in new homebuilding in 27 years
"The steep slump in housing intensified at the end of last year, pushing home construction down by the biggest amount in nearly three decades." (2008-1-18)
California home prices drop nearly 15 percent
"The median price of a home in California tumbled nearly 15 percent amid a steep drop in sales in December, a real estate research firm said Thursday." (2008-1-18)
Borrowers Seeking Help May Feel Lost at Sea
" The rolling tsunami of home-loan delinquencies and foreclosures is exposing serious problems in the mortgage industry's capacity to quickly handle borrowers' requests for help -- whether loan modifications, rate freezes or short sales to ward off foreclosure. " (2008-1-12)
Cleveland sues banks over foreclosures
"The city of Cleveland, an epicenter of the nation's home foreclosure crisis, has sued 21 banks and claimed subprime lending practices hurt property values and city tax collections." (2008-1-11)
Countrywide’s bad loans surge
"Countrywide’s shares tumbled for a second day Wednesday after the mortgage lender said the delinquency and foreclosure rate of home loans in its portfolio surged in December." (2008-1-9)
Home Prices Start to Dip, Recalling ’90s Slump
"The long advance and subsequent retreat in house prices in the region bear an eerie resemblance to the rise and fall that began in the late 1980s." (2008-2-3)
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