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- Housing Starts: The Numbers Are A Joke And Not A Funny One
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Posted By:Diana OlickI frankly can’t understand why anyone would think a bump in starts and especially permits is good news in any way, when home builders can’t give their houses away and immense quarterly write-downs of their assets scream that from the rooftops! …
Original Source: www.cnbc.com
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16 May, 2008| housingblogs |
Comments (0) @ 15:46
- Consumer Confidence Falls to 28 Year Low
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I don’t spend much time looking at consumer confidence, because for the most part it tells you what you already know. And right now confidence is saying that for most Americans these are tough economic times.But this is pretty impressive Cliff Diving ……
Original Source
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16 May, 2008| housingblogs |
Comments (0) @ 15:38
- Oregon Foreclosures up 121% in April 2008
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RealtyTrac released their April 2008 foreclosure data this week and Oregon ranks 23rd in the nation for per household foreclosures.There were 1,136 notices of defaults this month, up 1021% from April 2007. The bank files a notice of default when a mortgage payment is late and attempts to reconcile the issue out of court have failed.Click on any graph for a better image….
Original Source: feeds.feedburner.com/portlandhousingblogspot
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16 May, 2008| housingblogs |
Comments (0) @ 15:33
- Why won’t they come down?
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(click on the chart for a sharper image)Mortgage rates have broken loose from the base rate. The Bank of England might have cut interest rates, but mortgage rates have kept on going up. Between January 2006 and April this year, the 2 year fixed rate, 95 percent LTV mortgage rate has increased by 198 basis points. Likewise, the 5 year fixed rate, 95 percnet LVT is up 170 basis points….
Original Source: bp3.blogger.com
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16 May, 2008| housingblogs |
Comments (0) @ 15:22
- Op-Ed Friday: Housing Starts In The Eye Of The Beholder
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It’s Friday, and housing starts are either at a 17 year low or "showing growth"- depending on your choice of spin:
Feeling negative?May 16 (Bloomberg) — Construction of U.S. single-family houses in April dropped to the lowest level in 17 years, even as building of condominiums and townhouses rebounded….
Original Source: housingdoom.com
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16 May, 2008| housingblogs |
Comments (0) @ 15:19
- Foreclosures Surge In Long Island’s Hamptons Paradise
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TROUBLE IN LI PARADISE by NY POST - snip:In the first three months of this year, banks have launched preliminary foreclosure actions - known as lis pendens proceedings - against a record 120 borrowers in East Hampton and Southampton towns… “This problem didn’t even exist before,” said John Brady, a broker with Coldwell Banker in East Hampton. “They used to pop up once in a while, and you wouldn’t even pay attention. Now you expect to see new ones every week…
Original Source: feeds.feedburner.com
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16 May, 2008| housingblogs |
Comments (0) @ 14:59
- Fannie lowers down payments
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Read full story for latest details.
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Original Source: money.cnn.com
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16 May, 2008| housingblogs |
Comments (0) @ 14:19
- Housing Starts Rebound, Single Family Starts Lowest Since 1991
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The Census Bureau reports on housing Permits, Starts and Completions. Building permits increased: Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 978,000. This is 4.9 percent above the revised March rate of 932,000, but is 34.3 percent below the revised April 2007 estimate of 1,489,000. Housing starts increased: P…
Original Source: feeds.feedburner.com/CalculatedRisk
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16 May, 2008| housingblogs |
Comments (0) @ 13:39
- A New Civil War in Banking
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Original Source: www.mortgagenewsdaily.com
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16 May, 2008| housingblogs |
Comments (0) @ 13:17
- Atlanta Fed President on Banking
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Original Source: www.mortgagenewsdaily.com
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16 May, 2008| housingblogs |
Comments (0) @ 13:17
- April Housing Starts Increase 8.2%
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Original Source: www.mortgagenewsdaily.com
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16 May, 2008| housingblogs |
Comments (0) @ 13:03
- FDIC’s Proposal for Aiding Homeowners
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Original Source: www.mortgagenewsdaily.com
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16 May, 2008| housingblogs |
Comments (0) @ 13:03
- When Would You Buy?
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All over the markets we track, sales are increasing as prices are dropping to levels so attractive that some investors are starting to come out of the woodwork.So when would you actually pull the trigger?Here’s a condo complex in San Diego’s Logan Heights built at the peak of the market in 2006. Let’s track some of the 1,469 sqft units and see how far the prices have fallen:…
Original Source
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16 May, 2008| housingblogs |
Comments (0) @ 7:55
- HousingPANIC Classic Quote of the Day
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From 2006:While Greg Swann was dissing HP’ers and talking about year-round golf, this wise man was telling anyone who would listen what was about to come… And then it came.”A significant decline in prices is coming. A huge buildup of inventories is taking place, and then we’re going to see a major [retrenchment] in hot markets in California, Arizona, Florida and up the East Coast. These markets could fall 50% from their peaks.”…
Original Source
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16 May, 2008| housingblogs |
Comments (0) @ 7:03
- Charge it. Charge it. Charge it. Oh, crap.
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Original Source: housingpanic.blogspot.com
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16 May, 2008| housingblogs |
Comments (0) @ 7:02
- Ahhh, the return to sanity. Banks checking over home appraisals and verifying the buyer’s income and ability to pay before making the mortgage.
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Seems like the good ol’ days again, eh? You know, before everyone lost their minds, anyone could get a loan, and homes became lottery tickets…Lenders tighten loan rules, demand more money down…
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16 May, 2008| housingblogs |
Comments (0) @ 6:47
- Fleck: HELOCs: The New Subprime
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From Bill Fleckenstein’s Daily Rap: HELOCs: The New Subprime (Here is Fleck’s Site for the Daily Rap):Note: excerpted with permission.The following is from Fleck’s source: “The Lord of the Dark Matter” “A couple of us tuned into Dexia’s conference call yesterday, looking for clues on HELOCs. We got plenty, and they were important. In February Dexia said the absolute worse case loss for their monoline subsidiary FSA was going to be $125 million. Yesterday, they added $195 million to that. T…
Original Source
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16 May, 2008| housingblogs |
Comments (0) @ 5:38
- Here’s why the incumbents are going to get deservedly whacked this November
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Iraq was bad. And then The Great Housing Crash changed everything.
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Original Source: bp2.blogger.com
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16 May, 2008| housingblogs |
Comments (0) @ 4:54
- Portland RMLS Market Action Report – April 2008
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The median sale price for April 2008 was $275,000 this is a 3.5% decrease from the median sale price for April 2007.The Portland residential real estate market peaked in August 2007 with a median sale price of $300,000. Prices have now fallen 8.3% from that peak.Months of supply (total inventory/monthly sales) sits at 10.3 months compared to the 4.4 months of supply for April 2007. A balanced market has between 6 and 8 months of supply.T…
Original Source: feeds.feedburner.com/portlandhousingblogspot
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16 May, 2008| housingblogs |
Comments (0) @ 4:26
- NAR’s Yun Spews Same Ole Bulls***t
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Larry Yun of the NAR spin-machine is back at it today saying that recession “isn’t in the cards - no matter how you look at it” and calling for home prices to recover across the country in the second half of this year. How this guy is a high-level economist at the leading trade organization representing homebuyers and sellers is beyond me. Good thing not too many people outside the Realtor pale take him seriously.
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Original Source: feeds.feedburner.com/typepad
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16 May, 2008| housingblogs |
Comments (0) @ 3:45