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- Home prices post record declines
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February home prices posted record declines according to the S&P Case/Shiller Home Price Index, which was released Tuesday.
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Original Source: money.cnn.com
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29 April, 2008| housingblogs |
Comments (0) @ 20:00
- Housing rescue slows as defaults rise
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The pace of housing rescue efforts slowed in the first quarter of the year, according to a new report, while the number of people losing their homes to foreclosure skyrocketed during the same period.
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Original Source: money.cnn.com
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29 April, 2008| housingblogs |
Comments (0) @ 19:59
- Good credit no shield from bad loans
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A good credit score doesn’t mean you can’t end up in foreclosure.
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Original Source
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29 April, 2008| housingblogs |
Comments (0) @ 19:58
- Foreclosures spike 112%
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One out of every 194 U.S. households received a foreclosure filing in the first three months of 2008, according to the latest figures released Tuesday by RealtyTrac.
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Original Source: money.cnn.com
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29 April, 2008| housingblogs |
Comments (0) @ 19:57
- Don’t Get Lost . . .
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CR has a nice post up on Case-Schiller price drops just below the great long sprawling post just below this one.This will be easier to manage when we roll out our exciting “read more” format next month.
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Original Source: feeds.feedburner.com/CalculatedRisk
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29 April, 2008| housingblogs |
Comments (0) admin @ 19:53
- Another "Unnecessary" Foreclosure? No.
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As our wise commenter Markel observed the other day, the great thing about stories from the RE front is that, the more you poke at them, the more it becomes clear that everyone involved is the bad guy. It is not inspiring or uplifting reading.Of course “bad guy” is ironic here, at least for those of us who do not trade in simplistic concepts of heroes and villains, white hats and black hats. Everyone is implicated; every story has another side that complicates our understanding of what is going on. Getting at the complicated truth of the matter, it seems to me, is an important undertaking. Not because it “defends” or “convicts” any party to the tale, but because if the truth of these things is in fact quite complicated and uneasy, we need to know that. No one can suggest a possible “fix” for a problem he or she does not understand fully—to do so is to leave the land of unintended consequences, to which any policy solution is susceptible, and arrive at barking up the wrong tree….
Original Source: feeds.feedburner.com/CalculatedRisk
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29 April, 2008| housingblogs |
Comments (0) @ 19:52
- The Boom Was An Aberration
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Some housing bubble news from Wall Street and Washington. MarketWatch, “The decline in U.S. home prices quickened in February, with prices down a record 12.7% in the past year for 20 key cities, according to the Case-Shiller home price index released Tuesday by Standard & Poor’s. In February, prices were down 2.6% compared with January for 20 key cities, with prices in the smaller 10-city index off 2.8%. That’s the fastest monthly price decline in the history of the index. The pace of decline has accelerated for nine consecutive months.”
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Original Source: thehousingbubbleblog.com
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29 April, 2008| housingblogs |
Comments (0) @ 19:43
- FLASH: Iowans Riot Against Foreclosures
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Iowans Riot Against ForeclosuresDes Moines: Sporadic outbreaks throughout the farm belt against mortgage foreclosures reached a climax today when Gov. Clyde Herring, of Iowa, declared martial law in Plymouth County after a mob of 1…
Original Source: bp2.blogger.com
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29 April, 2008| housingblogs |
Comments (0) @ 19:34
- Case-Shiller: Year-over-year Price Changes
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This graph shows the year-over-year price changes for the Case-Shiller composite 10 and 20 indices (through February), and the Case-Shiller and OFHEO National price indices (through Q4 2007). The current recession is probable, and hasn’t been declared yet by NBER….
Original Source
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29 April, 2008| housingblogs |
Comments (0) @ 18:18
- Mortgage approvals are falling
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Before we dive into the usual hyperbole that characterizes this blog, I thought it might be useful to take a longer term perspective on today’s mortgage approvals data. The Bank of England website offers data going back to April 1993. Today’s number - 64 thousand was the lowest in that admittedly limited data set. The previous lowest was 69 thousand back in June 1995….
Original Source
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29 April, 2008| housingblogs |
Comments (0) @ 17:34
- So farewell, Inside Track
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Today was a pivotal moment in the demise of the housing bubble. Inside Track - the UK’s biggest property investment company - has collapsed. As it disappears, it takes with it the obscenely stupid aspirations of a generation of amateur property speculators….
Original Source
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29 April, 2008| housingblogs |
Comments (0) @ 16:57
- Home Foreclosures And Banks: Here’s A Real Disturbing Number
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Posted By:Diana OlickI want to bring your attention to a disturbing little sub-number in today’s quarterly foreclosure report from California-based RealtyTrac. RealtyTrac reports “foreclosure activity,” which covers default notices, auctions sale notices and bank repossessions. …
Original Source: media.cnbc.com
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29 April, 2008| housingblogs |
Comments (0) @ 16:45
- Conference Comment
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I enjoyed attending the Milken conference yesterday. Thanks to Jennifer Manfre’ of the Milken Institute for arranging a press pass. I attended a couple of sessions on topics that I know little about (like Urbanization in India and China), and they were awesome. IMO this type of conference has two strengths: 1) you meet a number of interesting people, and 2) the sessions provide a great introduction to a variety of topics.H…
Original Source: feeds.feedburner.com/CalculatedRisk
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29 April, 2008| housingblogs |
Comments (0) @ 16:02
- Subprime loan performance stabilizes
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Subprime loan delinquencies have stabilized after their torrid run-up in late payments according to the latest remittance reports. This is obviously a positive sign for the housing market as fewer 60-day delinquencies mean fewer eventual 90-day delinquencies and NOD’s. While analysts caution against over-reaching in the importance of the improvement they do note that it is significant.
Unfortunately, the metrics for foreclosures, REO properties and vacancies were all higher - which may negate any improvement in the delinquency number. Further, a full 33% of all tranches of the 80 deals tracked on the ABX index are rated ‘CCC’ which mean they are in imminent danger of default.
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Original Source: feeds.feedburner.com/typepad
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29 April, 2008| housingblogs |
Comments (0) @ 15:58
- FLASH: Here’s the latest S&P Case-Shiller numbers that Lawrence Yun, the NAR and realtors on commission like Greg Swann do NOT want you to see
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“We think the housing market has now hit bottom”- Lawrence Yun, NAR Chief Propagandist, January 2…
Original Source: housingpanic.blogspot.com
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29 April, 2008| housingblogs |
Comments (0) @ 15:56
- BofA to modify 265,000 Countrywide loans
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Bank of America announced that it plans to work-out approximately $40 billion of loans in trouble at Countrywide as part of it’s acquisition of the failed mortgage lender. BofA estimates that the $40 billion will result in a little over a quarter-million homeowners keeping their homes instead of losing them to foreclosure.
From the Pacific Business News on the new BofA initiative…
Original Source: feeds.feedburner.com/typepad
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29 April, 2008| housingblogs |
Comments (0) @ 15:44
- KB Home co-founder says home prices could fall 20% more
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Eli Broad, the co-founder of KB Home, told Bloomberg TV yesterday that home prices could fall another 20%. Here’s a link to the story. That is an absolutely enormous amount when you consider that prices have already fallen a bunch. Today the Standard & Poor’s/Case-Shiller Home Price Index for February was released. It showed that the 20-city index fell 12.7% from a year earlier and is down 14.8% from its all-time high in July 2006.
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Original Source
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29 April, 2008| housingblogs |
Comments (0) @ 15:43
- The Words ‘Price Reduction’ Are Almost Standard In Florida
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The Herald Tribune reports from Florida. “John Rankin remembers the day the owner at 2214 Sonoma Drive skipped town. ‘He packed up his truck one day, and drove away,’ said Rankin, president of the Mission Estates homeowners association in Venice. ‘Then he just never came back.’ That was nearly a year ago. As weeks and then months went by, the property fell into disrepair.”
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Original Source: thehousingbubbleblog.com
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29 April, 2008| housingblogs |
Comments (0) @ 15:27
- The Words ‘Price Reduction’ Are Almost Standard In Florida
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The Herald Tribune reports from Florida. “John Rankin remembers the day the owner at 2214 Sonoma Drive skipped town. ‘He packed up his truck one day, and drove away,’ said Rankin, president of the Mission Estates homeowners association in Venice. ‘Then he just never came back.’ That was nearly a year ago. As weeks and then months went by, the property fell into disrepair.”
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Original Source: thehousingbubbleblog.com
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29 April, 2008| housingblogs |
Comments (0) @ 15:27