If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Two reports out say if you’re thinking of buying, wait. The prices are going to continue to drop. The reason they offer are the same: Continuing increases in the number of homes worth less than their current mortgages.
Zillow [...]
by Constantine von HoffmanJuly 14, 2009
Legislation
A bill in congress would suspend a set of rules designed to reform the relationship between mortgage brokers and appraisers. The Home Valuation Code of Conduct, which went into effect on May 1, prevents lenders from directly picking appraisers for Fannie Mae and Freddie Mac secured mortgages. This was aimed at eliminating conflicts of interest [...]
by Constantine von HoffmanMay 26, 2009
Foreclosure
The best that can be said about S&P/Case-Schiller numbers out today is maybe home prices can’t fall any faster. Prices for Q1 of this year dropped at 19.1%, .9% more than they dropped in the last quarter of ‘08. The 20-city index dropped 18.7% year-over-year, also a record. It fell 18.5% during the last three [...]
Financial Times - JPMorgan feels stress of being in ‘limbo-land’
Huffington Post - Stiglitz Says White House Ties To Wall Street Doom Bank Rescue
Huffington Post - The Rating Agencies, A Key Reason For The Recession, Get Primed For An Overhaul
Public Integrity - The Appraisal Bubble: In Run Up to Real Estate Bust, Lenders Pushed Appraisers To Inflate Values
Telegraph - Anti-Goldman [...]
Huffington Post - Greenberg “Stunned” Same AIG Employees Still In Place, Blasts Bonuses
L.A. Land - Zillow: Foreclosures “make the market look worse”?
Realty Trac - Will The Obama Plan Reduce Foreclosures?
Huffington Post - Rep. Alan Grayson Vs. Cavuto: “A Stuck Pig Squeals Loudly”
Mortgage Insider - The bad and some good of Geithner plan
Infectious Greed - Behind Paulson’s 2007 Housing Market Bottom Call: [...]
How’s your market holding up? The New York Times has graphed the Case-Shiller Index for home prices across the U.S. in the Case-Shiller markets. They’re all ugly. Here’s Los Angeles and San Francisco for us Californians. Check out the charts on NYTimes.com for your market.
Housing Doom - Bernanke Doesn’t Get “Love Thy Neighbor”
The Big Picture - The New N Word: Nationalization
Dr. Housing Bubble - Home Prices Need to Fall 50 Percent from Peak Nationwide for a Market Bottom: Case Shiller Data and Predicting the Ultimate Bottom. 5 Charts Showing we are far from a Bottom in Housing.
Today’s Business Press - Bernanke: Another [...]
I suppose it works in my favor that I’ve never been a big fan of home ownership. While many consumers (and experts) like to tout the advantages of owning your home as opposed to renting, the numbers in many cases (and again this is my own personal experience) don’t always add up. With that in [...]
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