[Pictures Actually Tell 4 Words] Prices, Rents, Income, Appreciation

Comstock Partners, Inc. issued a special report that lays out the disconnect between economic fundamentals as they relate to housing quite clearly:

Median New Home Prices vs Median Household Disposable Income [open chart]…
Original Source: matrix.millersamuel.com

  28 March, 2008| housingblogs | Comments (0) @ 6:13

[OFHEO Guidance] Stuck With Mudd On $417,000

The Office of Federal Housing Enterprise Oversight, which has actually had to engage in a lot of oversight as of late, has been in the unenviable position of deciding whether to expand the conforming loan limit. …
Original Source: matrix.millersamuel.com

  28 March, 2008| housingblogs | Comments (0) @ 5:57

How not to sell a house: The story of 3 Magnolia Drive

An update tonight on 3 Magnolia Drive, a foreclosed house owned by a bankrupt lender that was put up for auction on March 15… and still hasn’t sold.

It’s a nice enough house: 4 bedrooms, 3 baths, 3,238 square feet, in the Ladera Ranch section of Orange County’s Mission Viejo. Built in 2003, it sold for $1.2 million in 2005, and went into foreclosure last year….
Original Source

  28 March, 2008| housingblogs | Comments (0) @ 5:12

‘Savvy’ Ventures Begin To Haunt Home Builders

Big builders looked smart when they teamed up during the housing boom and bought land through ‘joint ventures,’ but now some of these arrangements are falling into default.
…
Original Source

  28 March, 2008| housingblogs | Comments (0) @ 5:00

Related Pushes Back Debut Of Real-Estate Development

New York-based Related Cos. have delayed the second phase of its Phoenix CityNorth mixed-use project while lenders look for economic conditions to improve.
…
Original Source: feeds.realestatejournal.com

  28 March, 2008| housingblogs | Comments (0) @ 5:00

Jumbo FHA Mortgages May Have Higher Rates

Mortgage borrowers seeking the new supersized loans backed by the Federal Housing Administration will have to pay a sizable premium, Wall Street analysts say.

…
Original Source: feeds.realestatejournal.com

  28 March, 2008| housingblogs | Comments (0) @ 5:00

Should First-Time Buyers Take The Plunge in Today’s Market?

Everyone likes a bargain. So it’s no surprise that as home prices fall, those who have been priced out of owning a house are beginning to take notice.

…
Original Source

  28 March, 2008| housingblogs | Comments (0) @ 5:00

Hillary Clinton Pushes for More Governmental Aid to Homeowners

The Democratic presidential candidate said the U.S. government should be ready to buy troubled mortgages from investors and lenders to spur a recovery.

…
Original Source: feeds.realestatejournal.com

  28 March, 2008| housingblogs | Comments (0) @ 5:00

Sellers Rely on Marketing Savvy, Incentives in Tough Climate

Location, condition and above all, price can make or break a speedy, problem-free sale under most conditions in today’s market.

…
Original Source

  28 March, 2008| housingblogs | Comments (0) @ 5:00

Radian Will No Longer Insure Stated/Stated Loans

Radian, the mortgage insurance company, will no longer provide insurance for stated income and stated asset loans.  The loans, sometimes called “liar loans” by skeptics, allow borrowers to simply conjure their income and assets used for qualification without any due diligence checking.
This may signal the tipping-point of a major sea-change in underwriting standards. While many banks have eliminated the stated income, stated asset loans due to poor performance or otherwise, the insurance companies jumping in to the act would all but guarantee the extinction of stated/stated loans in the conventional and jumbo markets. The stated loans may end up only being available through private channels and “hard money”.
…
Original Source: feeds.feedburner.com/typepad

  28 March, 2008| housingblogs | Comments (0) @ 4:47

Freddie Mac Economist: No Housing Price Rebound Until 2010

From Kevin Hall at McClatchy Newspapers: Home prices may not rebound till 2010 (hat tip John) U.S. home prices are unlikely to recover until at least 2010, [Frank Nothaft, the chief economist for government-sponsored mortgage buyer Freddie Mac] said Thursday, adding that home building this year is likely to post its worst year in five decades.Check out Nothaft’s presentation: T…
Original Source

  28 March, 2008| housingblogs | Comments (0) @ 3:57

Here’s another shot at falling off a cliff - the Case Shiller index graph

Doesn’t look quite like a bottom here either…But what do I know? Lawrence Yun and Catherine Reagor have been so right to this point…
…
Original Source

  28 March, 2008| housingblogs | Comments (0) @ 2:12

Retracing the housing bubble: 1997

As promised, the blog is retracing the housing bubble in hopes of better understanding where we are today and how we got here. This is not meant to be a definitive history, but a rough outline for discussion. I’ll likely add to these posts with more information, anecdote, and statistics, partly at your suggestion.
…
Original Source

  28 March, 2008| housingblogs | Comments (0) @ 2:10

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