Rainy Tuesday Real Estate Reading


Lower prices but even lower inventory? - Patrick.net

A Rising Tide Lifts Rents, Sinks Home Values – WSJ


New Rent Report Suggests Possible Bubble – CNBC

In some markets, rents rose almost as much as home values fell. Take Chicago, for example, where rents were up just over 9 percent annually while home values were down just over 10 percent. The same is true for Minneapolis, where the divide is nearly the same. In San Francisco and Detroit, rents are up around 5 percent while home prices are down the same. It begs the question, as the rent vs. own divide grows, will the rental bubble suddenly burst?

Americans More Confident in Housing Recovery – Bloomberg

Sixty percent of people surveyed last month had positive views about the housing market and 70 percent expected property values to improve over the next two years, according to the survey released today. About 63 percent of respondents said they considered real estate a good investment, up from 52 percent last year, the Irvine, California-based broker reported.

Deeply underwater homeowners to get most aid from foreclosure deal – LA Times

How Far Have Home Prices “Really” Fallen? HPI Upcoming Changes; HPI and the CPI - Mish

Indeed, home prices rose three standard deviations from rental prices, a sure sign of a a housing bubble, and the Fed ignored it every step of the way.

Memo to Shaun Donovan: Your Nose is Getting So Long You Need to Get a Hacksaw - Yves Smith

Bank Officials Cited in Churn of Foreclosures – NY Times

At Bank of America, which until late last year was the nation’s largest mortgage servicer, two employees testified that they had raised concerns about whether documents were being properly notarized, but managers told them to proceed. One vice president said documents in her department were checked only for “formatting and spelling errors,” not the underlying figures or facts in the case.

Housing: Short Sales increase, Foreclosure Sales down Year-over-year - CR

 Rainy Tuesday Real Estate Reading


Meredith Whitney was right - Fortune

“States have pushed more and more expenses down to the local level,” Whitney tells Fortune. “And municipalities don’t have the money to make up the difference. That is where you see the real strain, especially after the American Reinvestment Recovery Act expired in June 2011.”

Germany Fails To Meet Its Own Austerity Goals – Spiegel Online

We Will Hit 84 Degrees In NYC Today (Seasonally Adjusted) – Zero Hedge

Bay Area economy is rebounding, but long-term hazards loom – Contra Costa Times

To be sure, the Bay Area job market for technology, knowledge industries and high-end manufacturing has surged. But these industries don’t always produce huge numbers of jobs, and job growth hasn’t benefited all parts of the region’s economy.

“It’s almost a tale of two economies,” Maasry said.


Let’s All Foreclose Together (hat-tip Patrick)

Banks foreclosing on churches in record numbers - Reuters

Holy Cow! What’s Good For You Is Good For Our Planet – Archives of Internal Medicine

Is red meat bad for you? In a word, yes. In this issue, Pan et al describe the outcomes from more than 37 000 men from the Harvard Health Professionals Follow-Up Study and more than 83 000 women from the Harvard Nurses Health Study who were followed up for almost 3 million person-years.

This is the first large-scale prospective longitudinal study showing that consumption of both processed and unprocessed red meat is associated with an increased risk of premature mortality from all causes as well as from cardiovascular disease and cancer. In a related study by Pan et al, red meat consumption was also associated with an increased risk of type 2 diabetes mellitus.

The First Ever iPad Game You Play Against Your Cat – BuzzFeed

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About Greg Fielding

I am a longtime real estate agent who has pretty much seen it all during the housing boom as bust. With experience in selling high-end property and low-end foreclosures, raw land, short sales, development work, apartment buildings, and working with investors, I bring a well-rounded perspective to my work.I also have started to do some paid real estate consulting. If you have questions or just need some good real estate advice, book an appointment at http://whattodorealestate.com/In addition to selling real estate, my insights have been featured in The New York Times, The Big Picture, and regularly on Patrick.net. I have also done consulting work with ForeclosureRadar.Starting my career, in 2003, I have sold homes throughout Alameda and Contra Costa counties, specializing in Danville, Alamo, Blackhawk, San Ramon, Dublin, Pleasanton, Walnut Creek, Lafayette, and Orinda. I live in Danville with my three kids.

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