"Falling prices and rampant foreclosures are not the stuff of healthy housing markets. But to some real estate investors, the dismal market can signal that it is time to invest." (2008-11-11)
November 11, 2008
New breed of investor looks to housing market
Homeowner denial: My home is gaining value
"Despite dismal housing headlines and reports showing falling prices nationwide, owners in some once-hot areas still believe their home is gaining value or at least holding its own." (2008-11-10)
Foreclosures Pick Pockets of Homeowners Associations
"If you live in a neighborhood that has a homeowners association, brace yourself. Neighbors losing their homes to foreclosure and short sales not only are dragging down your property values but also are setting you up for higher fees. There's even a threat that your entire neighborhood could grow ...
" (2008-11-9)
Now Is the Time for Those Bottom-Feeders to Do Their Work
"Bring on the vultures. I mean that in the most flattering way possible, you dear deep-pocketed real estate investors with access to credit.
" (2008-11-2)
November 10, 2008
Number of first-time home buyers is increasing
"Low home prices and excess supply helped drive a rise in first-time U.S. home buyers and reduce excess inventory, according to a study released Saturday by The National Association of Realtors." (2008-11-9)
The market for homeowners looking to sell
"Melissa Morris put her Haight-Ashbury flat on the market in mid-September. It was priced right and she accepted an offer of $825,000 within days. The contractor's inspection was set for Sept. 29 and as the buyer toured the home, the stock market was in the...
" (2008-11-9)
Some strapped homeowners keep making payments
"Think of them as the walking wounded: The homeowners who are upside down on their mortgages, owing much more than their home is worth. But they're still on their feet and still sending their payments each month. In this credit crisis, all the attention has...
" (2008-11-9)
Strategy to protect home equity credit lines
"Many homeowners who have taken out home equity lines of credit have learned in recent months that these loans are not as useful as they initially seemed. Lenders are struggling to minimize risk, and because they are especially at risk to lose money on...
" (2008-11-9)
British home prices suffering, too
"House prices in Britain will continue to plunge over the coming year as the economy deteriorates, two leading housing reports said early last week. Average house prices will be 25 percent - or 50,000 pounds ($77,000) - cheaper by the end of 2009 than they...
" (2008-11-9)
After big jump, pending home sales fall, again
"Pending U.S. home sales fell more than expected in September, after posting a big jump in the previous month." (2008-11-7)
The economic challenges facing Barack Obama
"Financial mess and gathering recession dominate Barack Obama's agendaHE HAD always planned for the economy to be his priority. Just not this economy.As candidate, Barack Obama crafted a platform to address the concerns that preoccupied voters earlier this year: high energy and health-care costs, stagnant middle-class incomes and rising foreclosures. But such problems pale beside the eruptions since August. America’s housing crisis has become a global financial panic; the economy, which was muddling along as recently as July, may be in its deepest recession in decades. Consumer confidence, as our chart shows, is at its lowest in more than half a century (except for a brief sharp dip in 1980). ..." (2008-11-6)
Nev., Mich., Fla. lead ‘underwater’ homes list
"Here’s a shocker: almost half of Nevada homeowners with a mortgage owe more to the bank than their homes are worth." (2008-10-31)
Closing arguments: The end is nigh
"The candidates are making their final pitches to the electorate“INFOMERCIALS” usually feature over-the-hill “actors” hawking improbable products in the small hours. Barack Obama’s infomercial on October 29th lasted for 30 minutes, appeared at 8pm on seven channels, including CBS and NBC, and featured state-of-the-art production techniques. Mr Obama focused on bread-and-butter issues—the recent Wall Street crash (which he described as a verdict on eight years of failed economic policies from, guess who, the Republicans), rising health-care costs, home foreclosures, disappearing jobs and stagnating incomes—and he illustrated them by telling the story of various families he had met on the stump. He also tried to counter his airy-fairy image telling us, in as much detail as the format would permit, how he planned to deal with these problems. ..." (2008-10-30)
Policy in a recession: Putting the air back in
"Staring at recession, policymakers in rich economies are considering how to avoid a prolonged slump. Here are some options—and some obstaclesDEBT is out; cash is in. Financial institutions are finding it hard to borrow from anyone but the state—and they are reluctant to lend to anyone else. Firms, aware that credit is drying up, are striving to raise cash. They have already run down their inventories and are trimming investment and jobs. Householders whose homes are worth less than their mortgages must save hard to reduce their debts. Those that cannot service their mortgages will default, causing more trouble for banks and, via lower house prices, other homeowners.Just a few months ago, the main worry of policymakers in many economies was whether, as the prices of oil and other commodities shot up, they could contain inflation. But the flight from debt and the dash for cash, inelegantly called “deleveraging”, means a bludgeoning for demand. Now central banks and governments are facing a new set of questions. First, can they stop deleveraging from gaining momentum and wrecking their economies? And second, will the tools of conventional macroeconomic policy—cutting interest rates, lowering taxes and increasing public spending—be enough? ..." (2008-10-30)
Subscribe to:
Posts (Atom)
