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- The Impact of Tighter Credit Standards on Lending and Output
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The Fed’s Senior Loan Officer Opinion Survey is qualitative, not quantitative, and there has been some discussion on the predictive ability of the survey.Luckily there was a paper written in 2000 that examined ‘the value of the Senior Loan Officer Opinion Survey in predicting both lending and output’. See: L…
Original Source
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7 May, 2008| housingblogs |
Comments (0) @ 23:59
- The Race To The Bottom Is Picking Up Speed
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The Sacramento Bee reports from California. “Robert Kleinhenz, deputy chief economist for the California Association of Realtors, gave an hour-long overview of the economy, the mortgage market and the housing outlook to the Sacramento Association of Realtors. His basic tone: big-time caution about the immediate future - and largely because the mortgage market is still cracking down and making it hard for many people to qualify for loans. But…like many others he is seeing a better second half of 2008 than this first half - and is using words like stabilizing.”
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Original Source: thehousingbubbleblog.com
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7 May, 2008| housingblogs |
Comments (0) @ 23:54
- Charge It!
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US Consumer Debt Increases $15.3 Billion, More Than Forecast…
Original Source: bp3.blogger.com/_GMFF5jY6gGs/SCIxvOh_rW
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7 May, 2008| housingblogs |
Comments (0) @ 23:52
- More on Home Improvement Investment
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Last week I presented a chart of home improvement investment in real terms. I argued that home improvement spending could fall 15% to 20% in real terms based on previous home improvement slumps.Here is the chart:…
Original Source: bp0.blogger.com/_pMscxxELHEg/SBoFPMncvt
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7 May, 2008| housingblogs |
Comments (0) @ 23:27
- E-Loan Interest Rates - May 7, 2008
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Best mortgage rates for May 07, 2008 in New Mexico…
Original Source: galleryrealtyoftaos.com
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7 May, 2008| housingblogs |
Comments (0) @ 22:30
- Can $15B and paint save your ‘hood?
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Can a couple coats of paint, some spackle and $15 billion keep foreclosed homes from bringing down the home market?
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Original Source: money.cnn.com
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7 May, 2008| housingblogs |
Comments (0) @ 22:18
- FHA-rescue bill faces veto threat
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The House on Wednesday will begin debate on a housing package that would let the government back loans for homeowners at risk of foreclosure - a move many Republicans have opposed and which the White House has threatened to veto.
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Original Source: money.cnn.com
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7 May, 2008| housingblogs |
Comments (0) @ 22:18
- Savings at the mall
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Simon Property Group, the owner of four shopping malls on Long Island, was recently named a 2008 Energy Star Partner of the Year by the federal Environmental Protection Agency.
Indianapolis-based Simon was honored by the EPA for outstanding energy management and reductions in greenhouse gas emissions at its 300 malls and shopping centers across the country.
The mall owner said it has saved more than 1,400 metric tons of carbon emissions in the last five years by switching to energy efficient lighting, upgrading energy management systems, investing in new, more efficient heating and air conditioning equipment, and migrating to water-efficient appliances in restrooms.
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Original Source: spacedoutli.wordpress.com
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7 May, 2008| housingblogs |
Comments (0) @ 21:56
- Fannie Mae’s 120% Refinances
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Just yesterday Fannie Mae mentioned in its Q1 2008 Earnings Release that, as part of it’s “Keys to Recovery” initiatives, it would offer “a new refinancing option for up-to-date but ‘underwater’ borrowers with loans owned by Fannie Mae that will allow for refinancing up to 120 percent of a property’s current value.” That, so far, is all the information I have directly from Fannie Mae on this subject….
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7 May, 2008| housingblogs |
Comments (0) @ 21:42
- U.S. Consumer Debt Surges in March
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From Bloomberg: U.S. Consumer Debt Rises More Than Forecast in March Consumer credit increased by $15.3 billion for the month to $2.56 trillion, the biggest monthly rise since November, the Federal Reserve said today in Washington. In February, credit rose by $6.5 billion, previously reported as an increase of $5.2 billion. …“Consumers are strapped as incomes are not keeping up with inflation and this is leading them to rely increasingly on credit to see them through the worst housing downturn since the Great Depression,” said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi in New York. “The days of extracting cash from one’s home to spend on goods and services are long gone.” …
Original Source
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7 May, 2008| housingblogs |
Comments (0) @ 20:37
- Prop. 98 debate: Is rent control worth saving?
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A number of smart people have been encouraging me to post on the dueling eminent domain propositions, Prop. 98 and Prop. 99. Because I could not get an appointment for an elective root canal today, and was turned down in my bid to volunteer for jury duty, it appears a political discussion cannot be avoided (Aside: there is an election coming up, on June 3, in California).
Naturally these are somewhat complicated propositions, and there is a slim chance that over time I will do justice to the subject. Slim. But not now, not here. My question is this: is rent control worth keeping?
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Original Source: feeds.latimes.com
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7 May, 2008| housingblogs |
Comments (0) @ 20:28
- The Ultimate Post
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The Ultimate Sin — Ozzy Osbourne
What would be the ultimate post we could do at the Irvine Housing Blog? We have been getting a great deal of attention lately for our posts on HELOC abuse, and our post on Monday showing the $500,000 loss was also very well received. This is only one way you can top what we have done to date: combine the two. Today’s featured property is the new pinnacle. We are raising the bar. Today, we have a property where the owner took out over $1,000,000 in a series of small refinances and general HELOC abuse, and now the lender who has taken back the property is looking at a $650,000 loss.
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Original Source
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7 May, 2008| housingblogs |
Comments (0) @ 20:25
- Trulia, madly, deeply
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Amid all the horrendous news on housing, one heart-warming thing about writing for this blog is seeing readers come to the aid of other readers. The best example is the long string of comments on The new exit strategy: A short sale,…
Original Source: www.businessweek.com
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7 May, 2008| housingblogs |
Comments (0) @ 20:17
- Builders offering price guarantees to lure buyers
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Builders have been heavily discounting prices hoping to lure buyers back to the market. Prices for brand-new construction in some communities are very tempting and even comparable to bank-owned foreclosures, which sell in “as is” condition.
The problem for builders is that many buyers feel that a bargain in real estate these days is a moving target as prices continue to fall. Some builders, such as S…
Original Source: www.businessweek.com
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7 May, 2008| housingblogs |
Comments (0) @ 20:12
- The American Dream Has Not Gone Bust, It’s Just Recycled
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Some housing bubble news from Wall Street and Washington. MarketWatch, “In a sign that the U.S. housing market may have further to weaken, an index of sales contracts on previously owned homes fell 1.0% in March from the prior month, the National Association of Realtors reported Wednesday. The NAR’s index, considered a leading indicator of existing home sales, was 20.1% below the March 2007 level.”
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Original Source: thehousingbubbleblog.com
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7 May, 2008| housingblogs |
Comments (0) @ 19:01
- The American Dream Has Not Gone Bust, It’s Just Recycled
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Some housing bubble news from Wall Street and Washington. MarketWatch, “In a sign that the U.S. housing market may have further to weaken, an index of sales contracts on previously owned homes fell 1.0% in March from the prior month, the National Association of Realtors reported Wednesday. The NAR’s index, considered a leading indicator of existing home sales, was 20.1% below the March 2007 level.”
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Original Source: thehousingbubbleblog.com
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7 May, 2008| housingblogs |
Comments (0) @ 19:01
- Housing Crisis Not Over, Just Starting in Seattle
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A couple people pointed out a piece in the Wall Street Journal yesterday titled The Housing Crisis Is Over. I don’t doubt that the mere fact that it was printed in the WSJ makes it gospel to some folks. I am not interested in writing a rebuttal to this piece, as that has already been h…
Original Source: feeds.feedburner.com/SeattleBubble
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7 May, 2008| housingblogs |
Comments (0) @ 18:21
- Congress And Housing Rescue–Nothing Yet That Really Helps
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Posted By:Diana OlickBefore Democrats could even utter the words, “housing,” “rescue,” “FHA” or “predatory,” President Bush had already let the threat fly: “I will veto the bill that’s moving through the House today if it makes it to my desk.” Nuff said, Sir. …
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7 May, 2008| housingblogs |
Comments (0) @ 17:30
- Tally Richards Dies - A Taos Art Community Loss
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Tally Richards, who ran the Gallery of Contemporary Art, died last week in California.
Tally Richards, whose Gallery of Contemporary Art at the corner of Ledoux Street and Camino de la Placita was a center of New Mexico’s art world for years, has died in Palm Springs, Calif., at the age of 80, according to The Taos News.
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Original Source: farm1.static.flickr.com
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7 May, 2008| housingblogs |
Comments (0) @ 17:14
- Housing: Another Day, Another WSJ Bottom Call
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Brett Arends at the WSJ asks: Is Housing Slump at a Bottom? [The following chart] from Wellesley College Prof. Karl E. Case, one of the leading experts on the housing market in the country. And it suggests we may be at, or near, the bottom of the housing crash. … new housing starts have at last slumped below the seemingly magical one million mark. That happened in March. Every time that has happened in the last 50 years, it proved to be the bottom of a recession….
Original Source: feeds.feedburner.com/CalculatedRisk
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7 May, 2008| housingblogs |
Comments (0) @ 17:09