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Blog Details for "National Bubble"
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
Stop The Mortgage Bailout!!!
2008-03-30 06:24:00 As lawmakers return from their two-week spring recess, more a more voices are calling for a mortgage bailout. All those greedy people who profited from the housing bubble are now expecting the federal government to come to the rescue. That is why now is the best time to tell Congress that we oppose any type ... More About: Real Estate , Mortgage , Stop , Mortgages , Bailout
Tribute to Peter Schiff
2008-03-28 12:37:00 Thanks “meltdown”!!! More About: Real Estate , Mortgages , Peter , Tribute
Home sellers need to come back to reality
2008-03-28 12:21:00 This from the New York Times: Just try to imagine stock prices staying roughly flat over a three-year period while sales volumes sank because investors considered the market overvalued. Bear Stearns is still worth $150 a share, and I?m not selling until someone pays me $150! Real estate, though, is different. For both economic and psychological reasons, ... More About: Reality , Real Estate , Home , Back , Sellers
Next bubble ready to burst: Home Equity Loans
2008-03-27 22:21:00 The New York Times has an excellent article about the next bubble that is about to burst: home equity loans. Equity Loans as Next Round in Credit Crisis Little by little, millions of Americans surrendered equity in their homes in recent years. Lulled by good times, they borrowed ? sometimes heavily ? against the roofs over their ... More About: Real Estate , Home , Mortgages , Bubble
The Florida housing market is imploding
2008-03-26 23:56:00 The housing market in Florida is getting worse by the day. According to the Miami Herald: February was another slow month for South Florida home sales, even though prices continued to fall. South Florida home prices continued to drop in February even as the national real estate market showed a slight, unexpected sign of improvement after months in ... More About: Real Estate , Market , Housing , Mortgages
Even Paulson says that home prices need to keep falling
2008-03-26 15:45:00 According to CNBC: Treasury Secretary Henry Paulson said Wednesday that housing prices need to be allowed to continue to drop while every effort is made to ensure the adjustment does not cause excessive harm to the economy. “A correction was inevitable and the sooner we work through it, with a minimum of disorder, the sooner we will ... More About: Real Estate , Home , Mortgages , Prices
New home sales fall 1.8% in February
2008-03-26 15:11:00 According to CNBC: New-Home Sales Plunge 1.8% To a 13-Year Low Sales of new single-family U.S. homes fell 1.8 percent in February while the median sales price was down from a year ago and inventories fell modestly, according to a government report on Wednesday that delivered uneven news for the ailing housing sector. The pace of sales fell ... More About: Real Estate , Mortgages , Fall
A flood of new condominiums is coming to the market
2008-03-26 12:03:00 According to the Wall Street Journal: The condominium market is about to get worse as many cities brace for a flood of new supply this year — the result of construction started at the height of the housing boom. More than 4,000 new units will be completed in both Atlanta and Phoenix by the end of the ... More About: Real Estate , Market , Condominiums , Flood
Home prices continue to fall
2008-03-25 15:38:00 The Standard & Poor’s/Case-Shiller index was released today and the news couldn’t be worse. Record Declines in Home Prices Continued in 2008 According to the S&P/Case-Shiller Home Price Indices New York, March 25, 2008 ? Data through January 2008, released today by Standard & Poor?s for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, ... More About: Real Estate , Mortgages , Fall
The U.K. is maxed out too
2008-03-25 12:42:00 This from the NY Times: Debt-Gorged British Start to Worry That the Party Is Ending LONDON ? At one point, Alexis Hall had more than 50 pairs of designer shoes and handbags. It never occurred to the 39-year-old media relations executive from Glasgow that her £31,500 in debt ($63,000) would be a problem. ?It was so easy ... More About: Real Estate , Mortgages , Maxed Out
Median home prices in California are down 26.2% in just one year
2008-03-24 23:17:00 The California Association of Realtors reported today: LOS ANGELES (March 24) ? Home sales decreased 28.5 percent in February in California compared with the same period a year ago, while the median price of an existing home fell 26.2 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today. “Although sales rose for the fourth straight month in ... More About: Real Estate , Mortgages , Year
Home prices and sales drop in Florida
2008-03-24 22:51:00 More bad housing numbers in Florida . Even as the National Association of Realtors reported a little bit better numbers at a national level, home prices in Florida continued to fall and fewer homes were sold in February. According to the Miami Herald: South Florida home prices continued to fall in February, bringing the average price closer to ... More About: Real Estate , Sales , Home , Mortgages
Median existing home prices down 8.2% from last year
2008-03-24 15:11:00 Existing home sales down 1.1% in the West but up in the rest of the country. According to the National Association of Realtors: The national median existing-home price (2) for all housing types was $195,900 in February, down 8.2 percent from a year earlier when the median was $213,500. Total housing inventory fell 3.0 percent at the end ... More About: Real Estate , Home , Mortgages , Year , Median
Even Bernanke?s own home is underwater
2008-03-24 12:02:00 This from Bloomberg.com: Bernanke lives in Washington’s Capitol Hill area in a four- bedroom, 2,600-square-foot house he bought new in May 2004 for $839,000. Almost four years later, it may not be worth any more, according to real estate records and local agents. Bernanke’s timing wasn’t the best — values in the area peaked a year later ... More About: Real Estate , Home , Mortgages , Underwater
Real Estate investment can be very risky
2008-03-23 19:01:00 This from the San Diego Tribune: Investors rode housing boom, and now many are going bust Wave of foreclosures hits owners who bought multiple properties Studies by the Mortgage Bankers Association of America estimate that about 16 percent of California foreclosures have involved investors. ?But here’s the rub on that,? said John Robbins, a longtime San Diego ... More About: Estate , Real Estate , Real Estate Investment , Investment , Mortgages
Americans think we are already in a recession
2008-03-22 18:11:00 According to CNN: Americans on economy: This hurts Nationwide poll locates sore spots as consumers are knocked around by inflation and gas prices. Consumers hunker down but feel optimistic about future. NEW YORK (CNNMoney.com) — Some economists say the United States is not in a recession, but don’t tell that to the majority of American consumers. A national CNN/Opinion ... More About: Real Estate , Recession
Rich people are also feeling the pain
2008-03-20 16:27:00 The burst of the housing bubble is hurting rich people as well. According to CNBC: They took out adjustable-rate mortgages at the peak of the housing bubble to buy homes they would otherwise not be able to afford. Or they refinanced existing mortgages to take cash out. And now, two or three years later, the day of ... More About: People , Rich , Real Estate , Pain , Mortgages
Fannie Mae?s CEO: home prices will continue to go down
2008-03-19 22:12:00 Fannie Mae’s CEO Daniel H. Mudd told CNBC the following: As for how long the housing slump will go on, Mudd noted that, from peak to trough, average home prices typically go down 13 to 17 percent. There was about a 3 percent drop last year, and a 5 to 7 percent decline projected for this ... More About: Real Estate , Home , Mortgages , Fannie Mae , Prices
The Fed is unable to lower mortgage rates
2008-03-19 19:45:00 The Fed has tried, and tried, and tried but it still has not been able to lower mortgage rates. No matter how much liquidity they inject into the market, it doesn’t seem to make a difference. The LA Times has a great article about this subject: The Federal Reserve has been slashing short-term interest rates since August ... More About: Real Estate , Mortgage , Mortgages , Lower , Rates
The Fed is now more worried about inflation
2008-03-18 19:38:00 Yes, the Fed lowered short term rates by 75 basis points but they included one full paragraph in their latest statement about inflation going up. This is what they say: Inflation has been elevated, and some indicators of inflation expectations have risen. The Committee expects inflation to moderate in coming quarters, reflecting a projected leveling-out of ... More About: Real Estate , Mortgages , Worried
The Fed keeps lowering short term rates but mortgage rates stay high
2008-03-18 19:28:00 The Fed just lowered short term rates by another 75 basis points but mortgage rates stay high. According to CNBC: Mortgage Rates Aren’t Likely to Move Lower Even with a three-quarter-point cut in interest rates today, homeowners shouldn’t hold their breath waiting for their mortgage rates to follow. If recent history is any guide, the Federal Reserve’s aggressive rate-cutting ... More About: Real Estate , Mortgages , Short-term , High
Inflation goes up - Housing keeps going down
2008-03-18 17:01:00 The news keep getting worse by the day. According to CNBC: Wholesale Inflation Hotter; Housing Slumps Further The flagging U.S. economy got more mixed news from its troubled housing sector on Tuesday, while evidence of inflation pressures continued to lurk in the producer pipeline. U.S. producer prices rose by 0.3 percent in February as expected, but a ... More About: Real Estate , Mortgages
The burst of the housing bubble in South Florida
2008-03-18 12:58:00 This from the Sun Sentinel: Although the Fed has cut rates, mortgage rates for 30-year fixed-rate loans actually have risen the past two weeks. Freddie Mac, the mortgage company, reported last week that 30-year fixed-rate mortgages averaged 6.13 percent, up from 6.03 percent the previous week. Many who bought at the height of the housing boom in ... More About: Real Estate , Housing Bubble , Florida , Housing , South
The collapse of the financial markets is coming
2008-03-17 14:51:00 Unfortunately, we were right in our assessment of the housing bubble and the U.S. economy. Look at some of today’s headlines from AP via Yahoo Finance: Global Markets Tumble World Markets Slide in Wake of Bear Stears Collapse — Oil and Dollar Hit New Highs, Lows LONDON (AP) — Global markets plunged Monday on news that JPMorgan Chase, backed ... More About: Real Estate , Financial , Mortgages
Housing market - Learning from Japan
2008-03-16 12:53:00 I found this great article on the NPR web site: Imagine this scenario: Real estate prices plummet, banks falter and policymakers wring their hands while a nervous public watches and worries. America in 2008? No. Japan in 1990. Nearly two decades before America’s mortgage crisis, Japan weathered a real estate crisis of its own. And Japan’s experience ... More About: Real Estate , Market , Housing , Mortgages
The bubble is bursting in Downtown LA
2008-03-15 12:53:00 The Los Angeles Times had a great article about this: Prices of condominiums, which dominate the downtown market, have fallen more sharply here than in Los Angeles and Orange counties overall, according to DataQuick Information Systems. More than one-third of the residential projects approved by city officials have been sidelined. Downtown ’s defenders say the area simply is ... More About: Real Estate , Bubble
More problems for the San Diego housing market
2008-03-15 12:10:00 This from the San Diego Tribune: San Diego County’s housing market deepened its slump last month, with the median home price now down 20 percent from its peak in November 2005. DataQuick Information Systems yesterday reported the median price for all county homes in February was $415,000, down 3.3 percent from the previous month and down 13.5 ... More About: Real Estate , Market , Housing , Problems
Are we in a recession already?
2008-03-14 17:23:00 According to CNBC: The United States has entered a recession that could be “substantially more severe” than recent ones, former National Bureau of Economic Research President Martin Feldstein said Friday. “The situation is very bad, the situation is getting worse, and the risks are that it could get very bad,” Feldstein said in a speech at the ... More About: Real Estate , Recession
The impact of foreclosures
2008-03-14 12:43:00 This from USAToday: The mortgage foreclosure crisis has caused a drop in cities’ revenues, a spike in crime, more homelessness and an increase in vacant properties, a survey of elected local officials out today shows. About two-thirds of 211 officials surveyed by the National League of Cities reported an increase in foreclosures in their cities in the ... More About: Real Estate , Foreclosures , Mortgages
No more government bailouts
More articles from this author:2008-03-14 12:41:00 Chris Powell wrote this commentary for The Stamford Times: The mistake is in the assumption that the mortgage crunch is some sort of natural disaster when it is only the usual ending of the ordinary boom-and-bust cycle of real estate. Everyone who takes a mortgage with an adjustable interest rate is gambling. Everyone who took an ... More About: Government , Real Estate , Mortgages 1, 2, 3, 4, 5, 6, 7 |
