Directory —
Real Estate —
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
More pain expected for credit markets
2008-03-13 12:44:00 According to Reuters: NEW YORK (Reuters) - This week’s central bank efforts to unfreeze credit markets will offer only temporary relief and more pain can be expected before a market recovery, analysts said at a credit conference on Wednesday. The U.S. Federal Reserve announced on Tuesday that it would inject up to $200 billion to strained credit ... More About: Credit , Real Estate , Markets , Pain , Mortgages
Wachovia says ?It feels like we have a ways to go?
2008-03-12 22:30:00 That is Wachovia Chief Risk Officer Don Truslow said on a Deutsche Bank Securities Inc conference call. According to Reuters via Yahoo Finance: “It feels like we have a ways to go,” Truslow said on a Deutsche Bank Securities Inc conference call. Referring to the nine innings of a baseball game, Truslow said he was “unsure” ... More About: Real Estate , Mortgages
Euro at a new all time high against the Dollar
2008-03-12 16:52:00 Without a doubt, Helicopter Bernanke is doing a great job of sinking the Dollar . According to CNBC: The euro rose to $1.55 for the first time since it was launched, according to Reuters Dealing data on Wednesday. The dollar fell broadly during the day as strong euro zone economic data renewed focus on the divergent paths of Euro pean ... More About: Commodities , Time , High
Higher interest rates mean fewer mortgage applications
2008-03-12 15:23:00 This from CNBC: U.S. mortgage applications dipped last week, reflecting lower demand for home loan refinancing as interest rates surged to their highest since October, an industry group said Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended March 7 fell 1.9 ... More About: Applications , Real Estate , Interest Rates , Mortgages
Even Realtors expect a weak spring housing season
2008-03-12 12:33:00 How bad can the housing market get? Much worse if you ask the experts. According to Reuters: NEW YORK, March 11 (Reuters) - U.S. real estate agents foresee a weak spring housing season, with sales expected to plunge from the same period a year earlier, Morgan Stanley said. The outlook suggests that seasonally adjusted home sales will continue ... More About: Realtors , Real Estate , Spring , Season , Housing
Krugman talks about the credit mess
2008-03-11 21:31:00 Take a look at what Paul Krugman wrote in the New York Times yesterday: The scariest thing I?ve read recently is a speech given last week by Tim Geithner, the president of the Federal Reserve Bank of New York. Mr. Geithner came as close as a Fed official can to saying that we?re in the midst ... More About: Credit , Mortgages , Mess
The Fed desperately tries to save the housing market
2008-03-11 18:50:00 The Fed keeps trying new ways to stop the collapse in the housing market. Lowering interest rates didn’t work. Injecting billions into the economy didn’t work either. According to USA Today: WASHINGTON ? The Federal Reserve on Tuesday dramatically stepped up its efforts to ease a widespread credit crsis that threatens the economy, announcing it will swap up ... More About: Real Estate , Market , Housing , Mortgages , Save
Crash proof by Peter Schiff
2008-03-11 12:08:00 Peter Schiff has been on all over the media for the past couple of years. The guy has a lot to say about our bubble economy and he has been right so far. He has a great book which I really recommend and the name is “Crash Proof : How to Profit From the Coming Economic ... More About: Real Estate , Mortgages , Peter
Mortgage rates are actually going up.
2008-03-08 23:12:00 The Fed can (and probably will) continue lowering short term interest rates but it is not doing much to bring down long term interest rates that dictate how much people pay on most mortgages. Look at what long term interest rates have done since the lows of mid January. This is definitely NOT good for ... More About: Mortgage , Mortgages , Rates
Don?t get too excited about the new conforming loans limits
2008-03-08 23:02:00 According to Bankrate.com these are some of the restrictions for these new loans under Fannie Mae’s guidelines: Jumbo-conforming mortgages have rather strict loan-to-value limits. If you’re getting a loan to buy your principal home, you can’t borrow more than 90 percent of the home’s value if you get a fixed-rate loan, and you can’t borrow more than ... More About: Loans , Limits , Mortgages , Conforming
Housing mess in Florida
2008-03-08 12:49:00 This from the Miami Herald: For all the turmoil that mortgage foreclosures are wreaking in global financial markets, some South Florida homeowners are watching the worst of the downturn unfold in their backyards — much of it the result of wild speculation gone sour. The homeowners on Alesio Avenue, in an upscale and otherwise stable Coral Gables ... More About: Real Estate , Housing , Mortgages , Mess
The U.S. lost 63,000 jobs in February
2008-03-07 15:26:00 First of all, I don’t enjoy reporting that people are losing their jobs. I guess I could say: “I told you so” but is irrelevant now. The more important point is for all of us to learn from our mistakes and avoid making this type of mistakes in the future. As reported by CNBC: U.S. employers cut ... More About: Lost , Jobs , February
Increase in conforming loan limits doesn?t necessarily mean much lower rate
2008-03-07 00:45:00 The FUH released the new limits for conforming loans but before you get all excited about it, take a look at what others experts are saying. According to Bankrate.com: In the market for a superconforming loan? You might have to wait, depending on the lender you choose. “Fannie and Freddie have to get their mechanical processes organized to ... More About: Real Estate , Loan , Limits , Mortgages , Lower
Can the housing market get any worse?
2008-03-07 00:16:00 Sure it can. Take a look at this AP article published by Yahoo Finance: Low Home Equity, Record-High Foreclosures: a Limp Housing Market Looks Even Weaker NEW YORK (AP) — Nervous homeowners and economic analysts have been wondering how much worse the housing market could get. On Thursday they got an answer: Plenty. Foreclosures are at a record ... More About: Real Estate , Mortgages
Homeowner equity falls to the lowest level since 1945
2008-03-06 18:04:00 According to AP via Yahoo Finance: Federal Reserve Report Shows Homeowner Equity Dipping Below 50 Percent, the Lowest on Record NEW YORK (AP) — Americans’ percentage of equity in their homes fell below 50 percent for the first time on record since 1945, the Federal Reserve said Thursday. Homeowners’ portion of equity slipped to downwardly revised 49.6 ... More About: Real Estate , Mortgages , Falls
Foreclosures hit a new record high
2008-03-06 17:02:00 If you thought that the housing market could not get any worse, think again. New numbers on foreclosures released today show how horrible things are and give us an idea of how much worse it can get in the next few months. It looks like the bursting of the last housing bubble is accelerating. According to ... More About: Real Estate , Foreclosures , New Record , Mortgages , High
Pending home sales down 19.6% from a year ago
2008-03-06 16:59:00 Even the Realtors have a hard time spinning the latest pending home sales numbers. This is what the National Association of Realtors (NAR) says: The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in January, held at a stable level of 85.9, unchanged from December, but was 19.6 percent below the January 2007 reading ... More About: Real Estate , Mortgages , Year
Don?t believe the ?days on the market? (DOM) number
2008-03-06 12:49:00 If you are crazy enough to attempt to buy a home in this rapidly declining housing market, here is some information that would prevent you from being mislead by the realtors. According to Bankrate.com: Data for average days on the market, or DOM, for houses in many U.S. markets is often skewed these days because so many ... More About: Real Estate , Market , Days , Number
Finally, somebody tells the full story about the subprime mess
2008-03-05 17:45:00 RECOMMENDED BOOK I recently got a chance to read a very interesting book that tells the full story about subprime and the crazy days of the last real estate boom. The name of the book is “Greed, Fraud & Ignorance: A Subprime Insider’s Look at the Mortgage Collapse” by Richard Bitner, a 14-year veteran of the mortgage industry. For ... More About: Story , Real Estate , Mortgages , Finally , Full
The U.S. keeps losing jobs
2008-03-05 16:50:00 According to CNNMoney, two more employment reports show signs that the economy is weakening. NEW YORK (CNNMoney.com) — February was another bad month for jobs as two key employment reports showed more signs of labor weakness Wednesday. In the private sector, nonfarm employment declined by 23,000 jobs for the month, according to the ADP National Employment Report. ... More About: Jobs
Helicopter Bernanke Update
2008-03-05 16:39:00 Helicopter Bernanke is back out there promoting more bailouts to “distressed” homeowners. The word “distressed” here means people who bought more house than they could afford. Anyway, Bernanke gave a speech to the Independent Community Bankers of America Annual Convention in Orlando, Florida and talked about new ways the banks can help prevent the housing meltdown. ... More About: Real Estate , Update , Mortgages , Helicopter
Chris Thornberg: 35 percent decline in home values from the peak
2008-03-05 12:25:00 This from Jane Wells blog on the CNBC web site: I want to talk about a guy named Chris Thornberg. As Ben Bernanke suggests this morning that interest rate cuts don’t help a homeowner who’s underwater in a mortgage, that perhaps lenders should instead write down the PRINCIPAL–as much as 50 percent!–Thornberg jokes he’s on a ... More About: Real Estate , Home , Mortgages , Values
The mother of all meltdowns
2008-03-05 12:00:00 This is what the Financial Times is saying: Step one is the worst housing recession in US history. House prices will, he says, fall by 20 to 30 per cent from their peak, which would wipe out between $4,000bn and $6,000bn in household wealth. Ten million households will end up with negative equity and so with ... More About: Real Estate , Mother , Mortgages
Buffett thinks that home prices will keep going down
2008-03-04 16:53:00 CNBC interviewed Warren Buffett and this is what he said about the current state of the housing market. LIESMAN: One of the most striking things in this poll is for the first time–we’ve done this for four quarters now–Americans now look for a decline in their home values. What’s the significance of that from an economic ... More About: Real Estate , Home , Mortgages , Prices
Bernanke: more foreclosures to come
2008-03-04 16:18:00 AP reports via Yahoo Finance: Fed Chief Bernanke Says More Needs to Be Done to Prevent Home Foreclosures WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke called Tuesday for additional action to prevent more distressed homeowners from falling into foreclosure. “This situation calls for a vigorous response,” Bernanke said in a speech to a banking group in Florida. Even ... More About: Real Estate , Mortgages
Maxed Out
2008-03-04 12:09:00 This from the USA Today: “We’ve never seen anything like this,” says Estes, who counsels clients by phone from her office in Richmond, Va. “Their homes are at risk, and they know it. But people say, ‘I don’t want to let my credit cards go because that’s my cash flow.’ Across the nation, credit counselors are reporting ... More About: Real Estate , Mortgages , Maxed Out
The bubble is bursting: Bankruptcy Filings Surge
2008-03-04 00:42:00 This was just reported by CNBC: American consumers’ bankruptcy filings jumped 15 percent in February from the previous month and a steeper rise is looming because of the subprime mortgage crisis, the American Bankruptcy Institute said. Consumer bankruptcy filings in February totaled 76,120, up from 66,050 recorded in January, the non-partisan bankruptcy research group said. The February number ... More About: Real Estate , Mortgages , Surge , Bubble
No more inflated home appraisals
2008-03-03 21:03:00 Another sign that the housing party is over. According to CNBC: NEW YORK (Reuters) - New York Attorney General Andrew Cuomo on Monday will announce a deal with Fannie Mae and Freddie Mac aimed at stamping out inflated home appraisals, sources close to the negotiations said. This is how the Wall Street Journal reported the news: Fannie Mae and Freddie Mac ... More About: Real Estate , Home , Mortgages
Nobody is buying houses
2008-02-20 21:20:00 From CNBC.com: U.S. mortgage applications plunged last week, and demand hit its lowest level since the start of the year as interest rates surged, an industry group said on Wednesday. The U.S. housing market is currently suffering one of the worst downturns in history. Last week’s plummet in demand may indicate what is in store for the hard-hit sector this spring, which is the peak home-buying season. Torsten Slok, senior economist at Deutsche Bank in New York, said the MBA’s data helps cement his bearish view on the U.S. housing sector. “Most housing indicators suggest that we may not get the spring selling season that we are hoping for,” he said. “The key issue is not interest rates, but the tightening of lending standards and that is going to be keeping things subdued for quite some time,” Slok said. More About: Buying , Houses
California will be hit hard by the collapse of the real estate market
More articles from this author:2008-02-20 12:16:00 We’ve been saying this for almost 2 years now. California profited from the latest real estate boom but it is now going to be hit the hardest with the upcoming real estate crash. Instead of saving for a rainy day, Californians tapped into their home equity like never before, getting home equity lines of credit to ... More About: Collapse , Estate , Real Estate , Real Estate Market 1, 2, 3, 4, 5, 6, 7 |
|
