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Blog Details for "HousingDoom"
HousingDoomHousingDoomExpert news and opinion on the US housing market. A must read for anyone who is interested in real estate or considering buying or selling a home. In addition to timely posts on analyzing subjects ranging from subprime mortgages to national home sal 
Articles
Op-Ed Friday: Banks Experiencing Subprime Losses
2008-06-06 14:48:00 It’s Friday , and with mounting foreclosures and rumblings at Lehman Brothers, I couldn’t help but think that Doomers would enjoy this video: We welcome your comments on subprime losses, or anything else housing related. More About: Banks , Housing Bubble , Losses , Subprime
Canada: Old, Frozen Commercial Paper Becomes New Again
2008-06-06 09:01:00 From Bloomberg yesterday: June 5 (Bloomberg) — A Canadian judge approved a plan to convert C$32 billion ($31.5 billion) of frozen commercial paper to new notes that mature within nine years over objections of noteholders who have indicated they will appeal to retain their right to sue sellers of the debt. ... More About: Commercial , Canada , Housing Bubble , Paper , Frozen
Tax Those Vacant Properties Away!
2008-06-05 14:04:00 Washington, D.C. has an unusual solution to all those vacant properties- double their taxes! [Hat tip M!] The D.C. Council voted Tuesday to double the tax rate on vacant properties and make permanent some of the tighter enforcement rules the D.C. Department of Consumer and Regulatory Affairs has been practicing since early last ... More About: Housing Bubble , Vacant , Properties
Workouts AFTER Foreclosure
2008-06-04 09:01:00 I had an interesting conversation with an Austin attorney yesterday. He said that many of his clients are, shall we say, less than sophisticated. He has had several that have come to him AFTER they were foreclosed on, trying to save their house. Surprisingly, more often than not, he says it’s possible. There are a lot of ... More About: Housing Bubble , Foreclosure
Will Home Prices Turn Before You Know It?
2008-06-03 15:03:00 The real estate pundits are out and warning that you should buy before prices start to go up. From Irwin Kellner, chief economist for Marketwatch and Capital One Bank: Housing could shift from a buyer’s market to a seller’s market before you know it. Now don’t get me wrong. I am not saying that all is ... More About: Housing Bubble , Market trends , Home , Turn , Prices
Phoenix Home Sales: May Preview
2008-06-02 15:55:00 While the official numbers from ARMLS will not be out until the 15th, we thank M as always for our early preview of Phoenix home sales. This month it appears that sales are down year-over-year, but only slightly: Active 53,104 UC 60; 8,304 Sold & #160; 5,605 According to ARMLS, 5795 homes sold in May 2007. Our unofficial inventory stood at 54,705 last ... More About: Preview , Sales , Housing Bubble , Home
Crack of Doom: Today?s Ugly Graph
2008-06-02 14:56:00 It’s Monday, and do you know what your Fed is doing? More About: Housing Bubble , Today , Crack , Doom , Ugly
Two Years Of Doom: Happy Birthday To Us!
2008-06-01 10:01:00 On June 1, 2006, Doom went online with its first post. Much to my amazement, two years and 1,404 posts later, we are still here. I want to take this opportunity to thank everyone who makes Doom possible. It was my intent from our inception to have HousingDoom be a forum and a resource, rather than ... More About: Housing Bubble , Happy , Birthday , Years
Greenspan Apparently Suffering From ?Bubble Blindness?
2008-05-31 16:06:00 From Reuters yesterday: MONTREAL (Reuters) - Former U.S. Federal Reserve Chairman Alan Greenspan said on Friday that he does not expect another "bubble" in world markets for a long time, and that central banks at any rate do not control the long-term interest rates that can be related to bubbles. More About: Housing Bubble , Market trends , Suffering , Bubble
Builders: ?Agents Drag Your Customers Way Out Here, We?ll Pay Your Gas?
2008-05-31 15:37:00 For developments far from the center of town, apparently the potential of a large cobroke isn’t enough to entice agents any more. More and more often, the builders are offering to kick in with gas money- this D.R. Horton offer being the most I’ve seen so far. Usually the builders just offer a one trip ... More About: Agents , Customers , Housing Bubble , Builders , Drag
In Parts of CA, Lenders Have Lock On Resale Market, Resellers Out Of Luck
2008-05-30 15:28:00 Thinking of putting your house on the market in Stockton, CA? Good luck getting an agent to represent you: In some areas of California, so many foreclosed homes are available to buy on the cheap that real estate agents are discouraging prospective sellers from even putting their houses on the market. Perhaps the most ... More About: Market , Housing Bubble , Parts , Luck , Lock
Newly Delinquent Borrowers Outnumbering Those Catching Up Two-To-One
2008-05-30 09:01:00 Defaults and delinquencies show no sign of slowing: May 30 (Bloomberg) — Newly delinquent mortgage borrowers outnumbered people who caught up on their overdue payments by two to one last month, a sign that nationwide efforts to help homeowners avoid default may be failing. In April, 73,880 homeowners with privately insured mortgages fell more than ... More About: Housing Bubble
Foreclosure is rarely fair
2008-05-29 16:57:00 From CNBC’s Diana Olick: [Hat tip L!] I was moderating a panel of two governors and an economist today on the foreclosure crisis. It was much of the usual stuff until Pennsylvania Gov. Ed Rendell made a bold proposal. He said that in addition to the legislation making its way through Congress to ... More About: Housing Bubble , Foreclosure , Fair
Senate Doesn?t Want Borrowers Walking
2008-05-29 16:19:00 About the Federal Housing Finance Regulatory Reform Act of 2008 just passed by the Senate : Buried in the proposed legislation is something new and revolutionary, an effort to stop mortgage walk-aways. According to author Peter G. Miller: The Senate legislation addresses the walk away issue by saying that before borrowers can get FHA financing they must ... More About: Housing Bubble , Walking
Banks Choking Home Sales? Should Have Done It Earlier
2008-05-28 09:01:00 Darn those banks, anyway. More and more they are insisting that buyers be able to afford the homes they purchase, and that the homes be worth what is being paid. This isn’t sitting well with everyone: It’s not that people don’t want homes, it’s that they can’t buy them under the stricter lending standards. That’s ... More About: Banks , Sales , Housing Bubble , Home
MLS Now Open To Online Real Estate Brokers
2008-05-28 05:11:00 Thanks to everyone who gave me a heads up, and to G.H. who sent this link to the Arizona Star: WASHINGTON — The Justice Department gave a boost today to online real estate brokers — and potentially their clients — by forcing new industry policies that give Internet-based agents access to home listings they ... More About: Estate , Real Estate , Housing Bubble , Open , Brokers
Case-Shiller: Home Price Drop Largest On Record
2008-05-27 15:23:00 From Reuters this morning: Price s of U.S. single-family homes plunged a record 14.1 percent in the first quarter from a year earlier, marking a pace five times faster than the last housing recession, according to the Standard & Poor’s/Case Shiller national home price index reported on Tuesday. The S&P/Case Shiller composite index of 20 ... More About: Housing Bubble , Market trends , Home
Twist is off until Tuesday
2008-05-25 16:28:00 I rarely take a full day off, but when my computer goes out on Memorial Day weekend, I take that as a sign. [Yes I have a spare, but it has issues.] I’m going to just hang with the family for a couple of days. More About: Tuesday , Twist
Canadaian Housing Market Also Subject To Housing ?Physics? And Is Going Dow
2008-05-24 14:08:00 Alas, what goes up, must come down- even in Canada. After months of the MSM reporting that the Canadian housing market would not go the way of their neighbors to the south- the Canadian housing market is going the way of their neighbors to the south: Canada’s long-running housing boom has ended, with the formerly ... More About: Market , Physics , Housing Bubble , Market trends , Housing
April National Existing Home Sales: Sales Down, Inventory At Record Levels
2008-05-23 16:52:00 JPMorgan Chase economist Michael Feroli said that existing home sales were "No worse than expectations". If you want to be positive, that’s about as good as it gets. According to Reuters this morning: WASHINGTON, May 23 (Reuters) - The pace of existing home sales in the United States fell 1 percent in April to a ... More About: National , Sales , Housing Bubble , Home
Op-Ed Friday: Arizonans Losing Home Equity At Fastest Rate Ever
2008-05-23 09:02:00 It’s Friday , and in Arizona, home equity is "slip-sliding away": [Hat tip MR!] New figures Thursday from the Office of Federal Housing Enterprise Oversight show the value of an average home in the state slid 5.5 percent in the first quarter of this year compared to the same period a year earlier. So a ... More About: Housing Bubble , Home , Rate , Equity
Loan Funds Nearly Two Months After Closing
2008-05-23 09:01:00 On May 5, we heard from Jacque, who hadn’t received her funds a month after closing. We heard again from Jacque yesterday- the loan funded at last: Sorry it took so long for me to post an update, but things got a little crazy for awhile. The good news is, the loan finally funded and all ... More About: Housing Bubble , Loan , Funds , Months
Boarding Up Abandoned Homes? Tastefully
2008-05-22 09:01:00 For areas now experiencing high levels of foreclosures, here’s a great instructional video from the city of Dayton– How to make boarded up properties look less like they are boarded up. More About: Housing Bubble , Homes , Abandoned
Phoenix April Home Sales Down, Not Up? Results Skewed By Trustee Sales
2008-05-21 09:01:00 [My thanks to everyone who forwarded me this one- and there were a lot of you!] According to yesterday’s Arizona Republic, Jay Butler’s April home sales report was wrong: Butler compiles a report each month on home-resale transactions in Maricopa County. The report said home resales were up 15 percent compared with the same month in 2007, ... More About: Phoenix , Sales , Housing Bubble , Home
Getting Paid To Walk Away
2008-05-20 09:01:00 It apparently isn’t just homeowners walking away from their homes. Now squatters are moving into foreclosure properties- and making a quick buck while they are at it: Squatters are moving into foreclosed homes and posing as tenants so they can live in comfort until the bank either goes through the eviction process or bribes them to ... More About: Housing Bubble , Market trends , Paid , Walk
You Are More In Debt Than You Think
2008-05-19 17:21:00 So you don’t use credit cards, own your house free and clear and the car is paid off? You might be thinking you don’t have much in the way of debt. If Sheila Weinberg, chief executive for the Institute for Truth in Accounting is right, you are on the hook for more- a lot more: The ... More About: Housing Bubble , Debt
Fannie Mae: Building The Underwater Mortgages Of Tomorrow
2008-05-19 09:01:00 Fannie Mae continues to trod where other lenders don’t dare to tread- they are no longer worrying about loaning in "declining markets": WASHINGTON, DC — Fannie Mae (FNM/NYSE) today announced a new, national policy on down payment requirements for conventional, conforming mortgages the company will purchase or guarantee. Starting June 1, 2008, Fannie ... More About: Building , Housing Bubble , Mortgages , Tomorrow , Fannie Mae
The ?Psychological Trauma? Of Foreclosure
2008-05-18 15:54:00 There have been a lot of excuses made for bailing out homeowners, but this one from economist Robert Shiller takes the cake- now we should worry that going into foreclosure will hurt people’s self esteem: [Shame on you Shiller, you are usually one of my heroes!] It is important to consider the psychological trauma of ... More About: Housing Bubble , Foreclosure , Psychological , Trauma
Op-Ed Friday: Housing Starts In The Eye Of The Beholder
2008-05-16 16:19:00 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. Builders broke ground on 692,000 single-family ... More About: Housing Bubble , Housing
Sorry Greenspan, But I?m Not Seeing It
More articles from this author:2008-05-15 09:01:00 According to Marketwatch yesterday, "Greenspan sees U.S. house price hit bottom in 2009". I think he’s seeing things. [Thanks L!] U.S. home prices will likely bottom out in early 2009 after the market absorbs excess inventories, former U.S. Federal Reserve Chairman Alan Greenspan told audiences in Asia Wednesday, according to news reports. Greenspan, ... More About: Housing Bubble , Market trends 1, 2, 3, 4, 5, 6, 7 |
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