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- [Getting Credit For Credit] Getting Sentimental About The Past But Not Many Ideas About The Future
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As the housing market economy continues to show problems (although some argue it isn’t that bad) as evidenced by the sharp drop in confidence,…
Original Source: matrix.millersamuel.com
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13 April, 2008| housingblogs |
Comments (0) @ 22:21
- Delinquents Gain Momentum, Not Juvenile Anymore
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Click here for interactive charts.
The Wall Street Journal published an interesting article on the phenomenon of rising delinquency rates, because in theory, delinquencies lead to foreclosures.
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Original Source: matrix.millersamuel.com
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13 April, 2008| housingblogs |
Comments (0) @ 21:52
- February U of O Index of Economic Indicators
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Professor Duy and the University of Oregon released the Index of Economic Indicators last week.The University of Oregon Index of Economic Indicators partially rebounded from January’s sharp decline, rising 0.6 percent in February to 102.4, based on a 1997 benchmark of 100.Click on any graph for a sharper image….
Original Source
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13 April, 2008| housingblogs |
Comments (0) @ 20:40
- Learn how to read your loan docs…finally.
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This is a Blown Mortgage Hall of Fame article. Originally published in August 2007 it shows you how to read your adjustable rate mortgage (ARM) loan documents via a video overview of the documents. I’m two days away from being home at this point. We’ve almost made it.
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I’ve put together an audio/visual review of loan documents that are customarily associated with adjustable rate mortgages for our consumer friends who feel overwhelmed at the signing table with the sheer volume of paper requiring their John Hancock.
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Original Source: feeds.feedburner.com/typepad
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13 April, 2008| housingblogs |
Comments (0) @ 20:18
- Sins of Years Ago Come to Haunt the Housing Market: Foreclosure is a Slow Process in California.
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Even though things appear to be deteriorating rapidly and are shocking the public and officials, this castle made of mortgage sand was built over a decade of frankly irresponsible greed and corruption. There really is no way of sugar coating it. In the middle of it all, there was ethical behavior and those who acted as agents of financial responsibility but an incredibly large number of folks inflated the market. The power bestowed on this large number of people simply created a market that has no way of being supported try as the government may. The philosophy is inherently wrong. There are a small handful of politicians that have the backbone to flat out say that this was a decade long spending spree built on debt and now the edifice is crumbling like the walls of Jericho. If you really cut to the core of all bail outs and crutches being placed on the market, you will find that many still somehow believe that peak prices were warranted and the only reason prices are going down is because of lack of credit.
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Original Source: feeds.feedburner.com/DrHousingBubble-HowILearnedToLoveSocal
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13 April, 2008| housingblogs |
Comments (0) @ 20:01
- It’s A Happy Day In California
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The Union Tribune reports from California. “Even before the doors opened, dozens of people had gathered yesterday outside Golden Hall at the downtown Community Concourse to attend a free clinic for financially distressed homeowners. ‘You can tell how hungry for information people are from someone they feel they can trust,’ said Gabe del Rio, president of the nonprofit Housing Opportunities Collaborative. ‘Everyone said, ‘You’ll be able to refinance out of this.’ That is the case only if you have equity.’”
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Original Source: thehousingbubbleblog.com
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13 April, 2008| housingblogs |
Comments (0) @ 18:59
- It’s A Happy Day In California
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The Union Tribune reports from California. “Even before the doors opened, dozens of people had gathered yesterday outside Golden Hall at the downtown Community Concourse to attend a free clinic for financially distressed homeowners. ‘You can tell how hungry for information people are from someone they feel they can trust,’ said Gabe del Rio, president of the nonprofit Housing Opportunities Collaborative. ‘Everyone said, ‘You’ll be able to refinance out of this.’ That is the case only if you have equity.’”
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Original Source: thehousingbubbleblog.com
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13 April, 2008| housingblogs |
Comments (0) @ 18:59
- [Grandstanding] Rational Markets, Irrational Public Relations
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Even with the development of the New Yankee Stadium, Citi Field, New York City is never short of grandstanding.Last week, there was a brou-ha-ha (sp?) prompted from an internal email by a controversial real estate agent questioning the downward trend in the number of sales in my Manhattan report from Q1 07 to Q1 08. The email was somehow, someway (conveniently) l…
Original Source: matrix.millersamuel.com
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13 April, 2008| housingblogs |
Comments (0) @ 17:34
- HELOC Nonsense
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Wow. Yesterday I disagreed with PJ over at Housing Wire. This morning I find myself taking issue with Barry Ritholtz at The Big Picture. If this keeps up, tomorrow I’ll be arguing with God.Yes, children, it’s time for another installment of Picking on Gretchen. And what a doozy it is this time, “Y…
Original Source
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13 April, 2008| housingblogs |
Comments (0) @ 15:21
- Another Sign Of Desperation In Florida
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The Sun Sentinel reports from Florida. “Almost every street has one: a vacant house that sold a couple of years ago for a jaw-dropping price. Appraisers so commonly pumped up house values to meet demands of developers, real-estate agents and lenders that complaints against them tripled in Florida in recent years, the largest complaint increase for any profession regulated by the state.”
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Original Source: thehousingbubbleblog.com
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13 April, 2008| housingblogs |
Comments (0) @ 15:02
- The Sorry Mess That Is Alphonso Jackson’s HUD
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A long piece from the Washington Post, which I recommend reading in its entirety. In late 2006, as economists warned of an imminent housing market collapse, housing Secretary Alphonso Jackson repeatedly insisted that the mounting wave of mortgage failures was a short-term “correction.”He pushed for legislation that would make it easier for federally backed lenders to make mortgage loans to risky borrowers who put less money down. He issued a rule that was criticized by law enforcement authorities because it could increase the difficulty of detecting and proving mortgage fraud….
Original Source: feeds.feedburner.com/CalculatedRisk
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13 April, 2008| housingblogs |
Comments (0) @ 13:50
- The miracle of housing wealth
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The more you look into the numbers behind the housing bubble, the more delusional it seems.Take for example the recently published data on UK household wealth. The Office of National Statistics claims that household net wealth has doubled in 20 years.The table below describes what happened between 2001-6. Apparently, housing wealth increased by over £1.3 trillion, while the total loans secured on these houses increased by just under £400 billion. In other words, one extra pound of housing debt generated £3.44 of additional housing wealth….
Original Source: ukhousebubble.blogspot.com
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13 April, 2008| housingblogs |
Comments (0) @ 13:40
- Poll: Where will King County SFH inventory peak in 2008?
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Please vote in this poll using the sidebar.
This poll will be active and displayed on the sidebar through 04.19.2008.
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Original Source: feeds.feedburner.com/SeattleBubble
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13 April, 2008| housingblogs |
Comments (0) admin @ 13:00
- Bits Bucket And Craigslist Finds For April 13, 2008
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Please post off-topic ideas, links and Craigslist finds here.
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Original Source: thehousingbubbleblog.com
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13 April, 2008| housingblogs |
Comments (0) @ 12:31
- Monmouth/Ocean: Home of the Housing ATM
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From the Asbury Park Press:
Borrowers used houses to get cash
Proponents had once touted subprime loans as a way for some consumers to afford the American dream of homeownership.
Yet new government data now show a nightmare scenario that economists have suspected: that most of the borrowers with low credit scores turned their homes into a virtual credit card.
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Original Source: njrereport.com
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13 April, 2008| housingblogs |
Comments (0) @ 11:36
- More on the sickening realtor payola and bonus commissions being offered as six percenters steer sheeple into debttraps for a good old fashioned bribe
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Any realtor who took or takes any bonus commission for steering any sheeple into any house should be sued by the buyer, even if the bonus commission was sneakily inserted into the fine print of the closing documents. If the six percenter didn’t actively, clearly and upfront let the homedebtor know they were being bribed by the seller, they should forfeit the bonus to the buyer, and they should have their realtor license pulled, and they should be sued for damages….
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13 April, 2008| housingblogs |
Comments (0) @ 11:06
- Is it time to pressure Ron Paul to run for president as an independent?
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I think a lot of us feel this campaign is now sorely missing Ron Paul’s voice. He can’t and won’t win the Presidency folks - the general American population is nowhere close to listening to or hearing his message. It’s just too brutally honest. Deal with it. But this campaign needs his voice. He needs a bigger platform. He can influence the major candidates, he needs to be in the debates, and his supporters can and should be heard. When Obama or McCain are going on about housing gambler bailouts, he needs to be there to talk some common sense….
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13 April, 2008| housingblogs |
Comments (0) @ 10:22
- Meet Dave®, Recent Grad of the RE School of Hard Knocks
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2005 was a banner year for young Dave®. He got his REALTOR®/Broker license, he opened shop on his very own real estate brokerage–GBridge Homes, and he decided to get his hands dirty with a McMansion construction project.That’s a lot of responsibilities for anybody, especially for an inexperienced young lad. But Dave® is one determined fellow who laugh in the face of danger. In fact, this is what he says on his blog: …
Original Source
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13 April, 2008| housingblogs |
Comments (0) @ 9:01
- Jury Finds Buyer Was Adequately Informed By Agent
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On April 3, we discussed the story of the Ummels, the unhappy homebuyers that were suing their realtor. The jury has ruled, and they are saying "caveat emptor":
Friday, April 11, 2008 | A jury sided Thursday with Carlsbad real estate broker Mike Little in a closely watched lawsuit that pitted a local couple against the agent that helped them buy a home. The couple, Vern and Marty Ummel, claimed that Little neglected to mention recent sales in their neighborhood, leading them to overpay by about $150,000 for their home in July 2005….
Original Source: housingdoom.com
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13 April, 2008| housingblogs |
Comments (0) @ 8:01
- The Washington realtors Association has a plan to stop the housing crash in its tracks. Monkeys I tell ya. Monkeys.
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Here’s their brilliant “get the facts straight” campaign and plan of attack:* A little bit of high-school-level graphic design, with ALL CAP WORDS THAT SHOUT AT THE IGNORANT TO LISTEN TO THE AUTHORITIES…
Original Source
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13 April, 2008| housingblogs |
Comments (0) @ 7:44
