This cool graphic shows real home prices compared to Case-Shiller’s inflation-adjusted prices.
In this real estate market, is it better to own or rent? – Contra Costa Times “The problem with rent-versus-buy calculators is they usually don’t take into account property taxes, costs associated with maintaining a home, or unexpected costs like education expenses, medical bills that a family needs to consider when putting money into an [...]
President Obama wants to expand the Community Reinvestment Act. Thus it should be no surprise that a self-serving report by the Obama Administration concludes that CRA “greenlining” (forcing banks to lend to low-income neighborhoods) did not contribute to the housing bubble or the financial crisis.
The banksters taking over our country enjoy extraordinarily nice lives of caviar and cigarettes. They’re insatiable greed is only surpassed by their lack of accountability. In last weeks post on shadow inventory, I came across a February story on how bankers let each other squat. It really made me angry:
CoreLogic (NYSE: CLGX), a leading provider of consumer, financial and property information and business services, reported today that the current residential shadow inventory as of January 2011 declined to 1.8 million units,representing a nine months’ supply.
How long will property owners keep swallowing significantly higher property taxes even as the value of their real estate continues declining? It’s an open question. I suspect the answer won’t be known until some invisible breaking point is reached, and voters simply rebel against higher taxes while their own net worth and incomes stagnate.
11.4% of all U.S. homes are vacant – CNN Proposed New Mortgage Lending Rules – CR Foreclosure Aid Fell Short, and Is Fading – NYT “We wait and wait, and they keep saying it’s coming,” said James Tyson, 50, a Philadelphia homeowner who lost his job a year ago. Are Banks Scheming to Gut the [...]