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- You Can’t Lose In California Real Estate
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The North County Times reports from California. “While most of the nation appears mired in the middle of a severe housing slump, the southwest corner of Riverside County may be showing signs of recovery. In April, the number of houses sold was higher than the year before for the fourth straight month, leaping 73 percent last month from a year ago. And, for the first time since the housing market took a dive, house sales in the Temecula-Murrieta region were higher than sales in 2006, near the peak of the housing boom.”
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Original Source: thehousingbubbleblog.com
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12 May, 2008| housingblogs |
Comments (0) @ 23:31
- Housing rescue: Fighting over the fix
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While Congress grapples with how to help troubled homeowners, the Bush administration is expanding a more modest effort to help at-risk borrowers.
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Original Source: money.cnn.com
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12 May, 2008| housingblogs |
Comments (0) @ 22:44
- Ask Pete, Chapter 3
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What is the third in the series called? The threequel? Whatever, "Ask Pete" is back, your biweekly chance to pose questions to the blogger.
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Original Source: latimesblogs.latimes.com
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12 May, 2008| housingblogs |
Comments (0) @ 22:30
- The Next Shoe to Drop
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1656 Pacific Beach Dr, Pacific Beach, Ca 92109 –2 beds, 1.0 baths, 750 sq ft–10/2007: purchased for $550,000–loan balance $412,500…
Original Source: bp1.blogger.com
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12 May, 2008| housingblogs |
Comments (0) @ 21:58
- No money, no savings, no equity: Why bailouts won’t work
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Regular readers know I am a fan of mortgage broker/Fed watcher/pundit Lou Barnes, and his column this week is worth your time. The final years of the housing bubble were not complicated, he argues: bad loans were made to financially suspect borrowers, by the millions. Excerpt:
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Original Source: latimesblogs.latimes.com
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12 May, 2008| housingblogs |
Comments (0) @ 21:42
- Dig it, but call first
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The whole-y war is on once again.
The New York State Public Service Commission announced that May is “National Safe Digging Month” to remind contractors and homeowners about the state law that requires a toll-free call to notify officials before digging starts.
According to a PSC release, excavators who damage facilities such as underground wiring or gas lines are liable for repair costs and civil penalties.
T…
Original Source: spacedoutli.wordpress.com
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12 May, 2008| housingblogs |
Comments (0) @ 21:23
- Sustainable conference, celebration
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More than 400 people attended Sustainable Long Island’s 2nd annual Sustainability Conference at the Huntington Hilton Tuesday.
The day-long event featured interactive workshops on topics such as developing a strong regional economy to convenient and efficient transit systems and sustainable land use to community design with public safety in mind.
The conference also celebrated the tenth anniversary of Sustainable Long Island’s founding. Speakers included SUNY Old Westbury President Calvin Butts, Paul Beyer, the state’s smart growth director, and David Kapell, former mayor of Greenport.
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Original Source: spacedoutli.wordpress.com
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12 May, 2008| housingblogs |
Comments (0) @ 21:23
- NHP building sold
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A New Hyde Park building on Jericho Turnpike has been sold for $520,000.
The building currently has a bagel store and two apartments, according to Mitchell Friedman, of Pliskin Realty & Development in Carle Place. Friedman represented the private investor who bought the property and is planning to renovate.
The seller, another private investor, was represented by Allied Realty.
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Original Source: feeds.wordpress.com
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12 May, 2008| housingblogs |
Comments (0) @ 21:23
- MBIA: "Forensic experts reviewing loans"
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Just like AMBAC, MBIA has forensic experts reviewing individual loans, and they believe they have a “case for material financial compensation”. From the conference call: “The loss of numbers assume zero recovery from any type of remediation. I do not believe that will be the result. For those of you aware of our remediation history, we intend to remediate the deals as vigorously [as we have in the past] — we have had teams of forensic experts reviewing loans examining whether they should have qualified to have been included in the insured exposure in the first place. We have a case for material financial compensation based upon the diligence we have performed so far.” …
Original Source: feeds.feedburner.com/CalculatedRisk
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12 May, 2008| housingblogs |
Comments (0) @ 21:05
- April Unemployment Numbers
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From the Oregonian:Oregon’s seasonally adjusted unemployment rate was 5.5 percent in April, the Oregon Employment Department said Monday, a smidgen below the revised figurefor March of 5.6 percent.The U.S. seasonally adjusted unemployment rate was 5 percent in April and 5.1 percent in March.The department said Oregon’s seasonally adjusted nonfarm payroll employment declined by 1,600, following a loss of 2,700 jobs in March. Seasonally adjusted payroll employment in April was at 1,737,600, the department said, the lowest level since 1,735,100 in October 2007.M…
Original Source
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12 May, 2008| housingblogs |
Comments (0) @ 20:44
- Middle Class HELOC Abuse
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Country House — Blur
The posts we do on over-the-top HELOC abuse are gripping because the dollar amounts are so large. However, focusing only on the extreme cases gives the impression of HELOC abuse is an unusual behavior of a few spectacular cases. HELOC abuse is not unusual or uncommon: it is widespread, and it is going to pummel the middle class.
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Original Source: feeds.feedburner.com/IrvineHousingBlog
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12 May, 2008| housingblogs |
Comments (0) @ 20:30
- Reader Stories: Skeptic Buys House
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The following is adapted from a recent forum post by user Hyperbola.
After a year of occasionally posting comments on this blog, it’s only fair to disclose that my wife and I just bought a house in Woodinville! My rationale about the overall market hasn’t changed — I still think we would have gotten a better deal by waiting. …
Original Source: feeds.feedburner.com/SeattleBubble
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12 May, 2008| housingblogs |
Comments (0) @ 20:14
- A Housing Happy Meal
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Some housing bubble news from Wall Street and Washington. AP, “Standard Pacific Corp.’s first-quarter loss widened as the worsening housing sector forced hefty impairment charges, the homebuilder said Monday. The Irvine, Calif., company posted a loss of $216.4 million. The latest quarter included charges of $117.9 million to write down the value of unsold inventory and undeveloped land. The company also booked a tax asset valuation charge of $83.7 million.”
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Original Source: thehousingbubbleblog.com
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12 May, 2008| housingblogs |
Comments (0) @ 19:14
- 202-456-1414 or 202-456-1111
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Call TODAY, tell the live-operator you would like to comment on the possible veto by President Bush regarding the Frank-Dodd bailout bill….
Original Source: bp1.blogger.com
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12 May, 2008| housingblogs |
Comments (0) @ 17:23
- [Mandatory Reading (Please)] The Giant Pool Of Money
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One of the biggest podcast downloads on iTunes is This American Life by Chicago Public Radio hosted by Ira Glass. It’s an hour long program that is diverse and interesting. The May 9th broadcast was particularly interesting to me called: T…
Original Source: matrix.millersamuel.com
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12 May, 2008| housingblogs |
Comments (0) @ 17:16
- The Old Way of Doing Things in Taos Real Estate Practices
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Most of us have heard the old saying “The definition of insanity is doing the same thing over and over and expecting a different result.” This applies a bit to the business of listing real estate. In particular, and in the Taos real estate market, let’s look at vacant land listings. There is a great deal of “doing it the same old way.”
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Original Source: farm3.static.flickr.com
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12 May, 2008| housingblogs |
Comments (0) @ 17:10
- What would you do?
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Imagine yourself sitting on the monetary policy committee. Along comes one of your Bank of England flunkies and hands you this chart describing recent factory gate inflation. …
Original Source: bp2.blogger.com
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12 May, 2008| housingblogs |
Comments (0) @ 16:55
- Chicago Public Radio: The Giant Pool of Money
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Here is an outstanding show on This American Life: 355: The Giant Pool of Money A special program about the housing crisis. We explain it all to you. What does the housing crisis have to do with the collapse of the investment bank Bear Stearns? Why did banks make half-million dollar loans to people without jobs or income? And why is everyone talking so much about the 1930s? It all comes back to the Giant Pool of Money.T…
Original Source: feeds.feedburner.com/CalculatedRisk
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12 May, 2008| housingblogs |
Comments (0) @ 16:54
- NPR: The Giant Pool of Money
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Here is an outstanding show on This American Life: 355: The Giant Pool of Money A special program about the housing crisis. We explain it all to you. What does the housing crisis have to do with the collapse of the investment bank Bear Stearns? Why did banks make half-million dollar loans to people without jobs or income? And why is everyone talking so much about the 1930s? It all comes back to the Giant Pool of Money.T…
Original Source: feeds.feedburner.com/CalculatedRisk
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12 May, 2008| housingblogs |
Comments (0) @ 16:54
- At last, some optimism about the UK housing market
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You have to admire the optimism of buy-to-let investors. House prices are tumbling, banks are pulling out and rents are stagnant, but according to a recent survey by M…
Original Source: bp1.blogger.com
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12 May, 2008| housingblogs |
Comments (0) @ 16:45
