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National BubbleNational BubbleNews and commentary about the Real Estate bubble. Exposing the financial bubbles in the US economy and the greedy people behind it. Articles
Pending home sales index down 20% from last year
2008-05-07 16:10:00 The National Association of Realtors just released their Pending Home Sales Index report and the bad news continue. The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in March, edged down 1.0 percent to 83.0 from a downwardly revised level of 83.8 in February, and was 20.1 percent lower than the March 2007 ... More About: Real Estate , Mortgages
The housing bubble is bursting everywhere
2008-05-07 13:31:00 Even previously immune housing markets like Seattle and Charlotte are finally coming down. According to CNNMoney: Bulletproof housing markets get hit NEW YORK (CNNMoney.com) — Some of the last, best housing markets - the ones that continued to climb even as the rest of the country cratered - have turned south lately. Seattle, Portland Ore., Charlotte, NC, and ... More About: Real Estate , Housing Bubble , Housing , Mortgages , Bubble
Fannie Mae forecasts home prices will keep going down this year
2008-05-07 02:15:00 This from AP via Yahoo Finance: WASHINGTON (AP) — The outlook for the housing market darkened further Tuesday as the nation’s largest buyer of home mortgages said it racked up more than $2 billion in quarterly losses and forecast a steeper drop in home prices this year. If Fannie Mae ’s prediction proves true, the real estate woes ... More About: Real Estate , Home , Mortgages , Year
David Lereah is back with more predictions
2008-05-06 21:44:00 I didn’t believe David Lereah (former chief forecaster for the National Association of Realtors) during the real estate boom and I don’t believe him now. This guy has absolutely no integrity or credibility. He kept telling people to buy real estate up until he quit working for the NAR and now he expects me to ... More About: Real Estate , Predictions , Back , Mortgages
Bernanke keeps pushing for a housing bailout
2008-05-06 12:24:00 This is what Bernanke said at the Columbia Business School’s 32nd Annual Dinner in New York: Chairman Ben S. Bernanke At the Columbia Business School’s 32nd Annual Dinner, New York, New York May 5, 2008 Mortgage Delinquencies and Foreclosures President Bollinger, Dean Hubbard, Co-Chairman Kravis, and distinguished guests, I am very pleased to be here and especially honored to receive ... More About: Real Estate , Housing , Mortgages , Bailout
Even celebrities lose their homes to foreclosure
2008-05-02 13:33:00 This from Reuters via Yahoo Finance: LOS ANGELES (Reuters) - Former U.S. baseball star Jose Canseco said on Thursday he had lost his California mansion to foreclosure — one of the first celebrities to publicly admit being a statistic in the U.S. housing crisis. Canseco, 43, one of the most flamboyant U.S. baseball players until his ... More About: Real Estate , Celebrities , Foreclosure , Homes
Foreclosure tour
2008-05-02 13:06:00 More stories of the bursting of the housing bubble in South Florida. According to the Miami New Times: On this foreclosure tour, the mortgage crisis is just another money maker. The unlikely day-trippers were part of the inaugural Miami Homes Tour , a new tactic for hawking foreclosed property. Its organizers are part of a burgeoning brood of ... More About: Real Estate , Foreclosure
New conforming loans are not helping the housing market
2008-05-01 17:19:00 We talked about this even before Congress passed the new law and now we are seeing that we were right. The new conforming loans that increased the limit to up to 730K in some areas are not widely available and the interest rates are not even close to the ones offered to loans under 417K. According ... More About: Real Estate , Market , Loans , Housing , Mortgages
The housing bubble keeps bursting in Florida
2008-04-30 18:15:00 This from the Miami Herald: 1 in 97 Florida households in foreclosure The number of U.S. homes heading toward foreclosure more than doubled in the first quarter from a year earlier, as weakening property values and tighter lending left many homeowners powerless to prevent homes from being auctioned to the highest bidder, a research firm said Monday. Florida ... More About: Real Estate , Housing Bubble , Housing , Bubble
Florida sellers need a reality check
2008-04-30 13:46:00 This from the Palm Beach Post: Lower prices can put ‘real’ in real estate Could reality, at last, be setting in among Florida home sellers? Given how things have gone since late 2006, last month’s area real-estate numbers didn’t so much contain positives as they contained fewer negatives. Prices went down again, but sales went up a little, ... More About: Reality , Real Estate , Check , Mortgages
People are not even paying the utility bills
2008-04-30 13:23:00 More signs of how this economic slowdown is hurting Americans. According to USA Today: Unpaid utility bills soar as economy sags CHICAGO ? Hundreds of thousands of utility customers are at risk of disconnections as the sagging economy drives up the number of past-due home heating bills and the amounts owed, utility companies in cold-weather states say. Xcel ... More About: People , Utility , Bills
S&P: No bottom yet
2008-04-29 19:11:00 Watch David Blitzer from S&P discuss the horrible real estate numbers on CNBC. Pay attention to what he says about the “hidden supply”. We’ve been talking about this on this blog for a while. More About: Real Estate , Mortgages , Bottom
Foreclosures jump 112% from a year ago
2008-04-29 16:12:00 The bad news for the housing market just keep coming. According to AP via Yahoo Finance: Homes facing foreclosure more than doubled in 1Q from 2007 LOS ANGELES (AP) — The number of U.S. homes heading toward foreclosure more than doubled in the first quarter from a year earlier, as weakening property values and tighter lending left ... More About: Real Estate , Foreclosures , Mortgages , Jump , Year
S&P/Case-Shiller: Home Prices Keep Falling
2008-04-29 15:53:00 Unfortunately, the bad housing numbers keep coming almost on a daily basis. Today, the S&P/Case -Shiller Home Prices Index was released and, as expected, the news are grim. The index shows declines in the prices of existing single family homes across the United States worsened in February 2008, with 17 of the 20 now reporting MSAs ... More About: Real Estate , Mortgages
Home prices keep falling
2008-04-28 21:21:00 Interesting article in The Wall Street Journal showing how there is a bright side in the bursting of the housing bubble. This is another reason why the government should stay out of the way and let the housing market correct itself. Michelle Dudley for years commuted 50 miles each way to her job as a civil servant ... More About: Real Estate , Home , Mortgages , Prices
Record number of vacant homes for sale
2008-04-28 18:57:00 More signs of a housing bubble that is bursting. This from AP via Yahoo Finance: Nobody’s home: Percentage of vacant houses sets record high in first quarter of 2008 WASHINGTON (AP) — The percentage of vacant homes for sale in the U.S. set a new record high in the first quarter of this year, the government said ... More About: For Sale , Real Estate , Sale , Homes , Mortgages
Military families are losing their homes
2008-04-28 15:28:00 According to USA Today: More U.S. troops battle foreclosure WASHINGTON ? As the home foreclosure crisis sweeps across America, military and financial aid groups say they are hearing from a rising number of troops who say they are falling behind on their mortgage payments and struggling to keep their homes. “The Army as a whole has seen an ... More About: Military , Real Estate , Homes , Mortgages , Families
Bush might veto the housing bailout bill
2008-04-27 18:10:00 This is great news!!! CNNMoney reports that the White House is against the current housing bailout plan sponsored by Barney Frank in Congress. Remember that we need to stop these bailout plans. Please, take a minute and contact your representatives in Congress. We’re having an impact on the political system and it seem like the bailout proposals are currently in trouble. WASHINGTON (AP) — A top housing official said Thursday that the Bush administration “strongly opposes” a Democratic housing rescue package, calling it a bailout that would expose taxpayers to excessive risk. Deputy Secretary of Housing and Urban Development Roy A. Bernardi also indicated that President Bush would veto a bill sending $15 billion to states for the purchase and rehabilitation of foreclosed properties. (more…) More About: Bill , Veto , Bailout
Voter anger might stop the housing bailout plans
2008-04-27 17:12:00 It looks like millions of angry voters opposed to the current housing bailout plans are having an impact. According to the LA Times: WASHINGTON — Nine months into the worst housing crisis in a generation, Congress this week took up the most aggressive government plan so far to break spiraling home foreclosures and tumbling house prices that threaten to pull the economy down. But even as a key House committee began to mark up the bill Wednesday, there were signs that the measure could be caught up in a crippling political crossfire. Mortgage industry intransigence, voter anger over possible government aid for speculators and economists’ fear that thousands of homeowners might just walk away from troubled loans are contributing to a potential stalemate. (more…) More About: Housing , Plans , Anger , Stop , Bailout
What will happen to the housing market?
2008-04-26 13:20:00 ActiveX content removed. If this affects desired functionality, fill out ... More About: Real Estate , Market , Housing , Mortgages
Home sellers are getting desperate
2008-04-26 13:17:00 It’s actually funny to see what some sellers would do to sell their overpriced homes. This from CNNMoney.com: Home for sale by any means Are you really serious about selling your home in this market? Then be prepared to try anything - and everything. (Money Magazine) — For nearly two years, Adriel and Lance Bush tried unsuccessfully to sell ... More About: Real Estate , Sellers , Desperate
Consumer confidence: worst in 26 years
2008-04-25 18:08:00 I wonder what this is going to do to the housing market. According to CNBC: Consumer Mood Sours as Inflation Fears Grow U.S. consumer confidence fell for a third straight month in April, hitting its weakest in 26 years, on heightened worries over inflation and the sagging housing market, a survey showed Friday. The Reuters/University of Michigan Surveys ... More About: Real Estate , Confidence , Years
It was a ?Real Estate National Bubble?
2008-04-25 13:35:00 Bankrate.com published this very good analysis of the state of the housing market in the US. What drives housing cycles Subprime loans goosed demand for housing The severity of the current housing cycle has been exacerbated, Dotzour explains, by two factors. 2 factors exacerbating the market’s woes: ? Lenders flooded the housing markets with subprime loans that enabled borrowers who ... More About: National , A Real Estate , Estate , Real Estate , Mortgages
New home sales plunge
2008-04-24 20:38:00 Can the housing market get any worse? You bet it can. More About: Real Estate , Sales , Home , Mortgages , New Home Sales
Democrats keep pushing their bailout plans
2008-04-24 19:22:00 This from CNNMoney.com: House panel OKs $15 billion housing bill WASHINGTON (AP) — Democrats pushed a $15 billion housing bill through a House committee Wednesday over the objections of Republicans who called it a government bailout. The measure would send federal loans and grants to cities and counties hit hardest by the housing crisis so they could ... More About: Real Estate , Plans , Mortgages , Bailout
No light at the end of the tunnel for homebuilders
2008-04-24 18:47:00 According to CNNMoney.com: Homebuilders: No recovery until 2009 NEW YORK (CNNMoney.com) — The damaged housing and home construction markets will continue to take a beating at least through the end of the year, according to economists who spoke Thursday at a forecast conference sponsored by the National Association of Home Builders. The economists said the deterioration of the ... More About: Real Estate , Mortgages , Light , Tunnel
New Home Sales: more bad news
2008-04-24 16:20:00 The slump in the housing market continues. According to CNBC: New-Home Sales Tumbled A Surprising 8.5% in March New single-family U.S. home sales fell by an unexpectedly steep 8.5 percent in March and the median sales prices versus a year ago dropped by the largest amount since 1970, a government report showed. The pace of sales slowed to ... More About: News , Real Estate , Bad News
Shiller: Home prices could fall up to 45% in some areas
2008-04-24 13:37:00 This from Courant.com: NEW HAVEN - Robert J. Shiller began a talk Tuesday by joking about his reputation for bearing bad news. Then he offered some: Housing prices nationwide could plunge more than the 30 percent fall from 1925 to 1933, the Yale economist said, invoking the dark days of the Great Depression. “I think there’s a ... More About: Real Estate , Home , Mortgages , Fall , Prices
The Florida luxury home market is in trouble
2008-04-24 13:11:00 We’ve said here in this blog many times in the past: the higher-end real estate market won’t be immune to this housing meltdown. And we’re starting to see that now. According to CNBC: Florida ’s Luxury Home Market Shows Signs of Wear The surprisingly healthy market for oceanfront mansions and palatial condos in Florida, one of the most ... More About: Real Estate
Mortgage Meltdown Map: California Crash
More articles from this author:2008-04-23 17:14:00 This map shows the areas in California that are most impacted by the housing and mortgage meltdown. Pretty scary, isn’t it? More About: Real Estate , Mortgage , Mortgages , Crash 1, 2, 3, 4, 5, 6, 7 |
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