Ugh… it REALLY feels like 2003 all over again. Especially with crappy articles like this one getting lots of attention and promotion from real estate agents. The article is titled 10 Signs We’re Not In Another Real Estate Bubble, and it is 100% crap. First off, let’s agree that “bubble” refers to the price of homes, [...]
Today’s Existing Home Sales report from the National Association of Realtors came in below expectations with sales falling roughly 1% from November to December. Most analysts are calling this a disappointing report, but Calculated Risk’s Bill McBride disagrees. Me? I think everyone is wrong. Total existing-home sales, which are completed transactions that include single-family homes, [...]
UDPATE: Just one month into 2013 and I’ve got a revision. 2012 didn’t play out like I had expected. The inventory of homes for sale shrunk FAR more than I (or anyone else) expected. In 2012, we saw more Demand versus less Supply, and home prices rose. I expect slightly lower Demand and slightly more [...]
Back in January, I published my Sound Real Estate Advice for 2012. Let’s re-examine what I wrote then, compare it with what actually happened, and offer come conclusions about the rest of the year. Home Prices As far as market and home price predictions, I wrote: Overall, I expect 2012 will be very similar to [...]
Nationally, 22.8% of all homes with mortgages owe more than their homes are worth. Another 5% are right on the edge. In California, the statistics are worse. CoreLogic reports: SANTA ANA, Calif., March 1, 2012––CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released negative equity data showing that 11.1 million, [...]
Below is the full fact sheet of the Obama housing plan from whitehouse.gov. In his State of the Union address, President Obama laid out a Blueprint for an America Built to Last, calling for action to help responsible borrowers and support a housing market recovery. While the government cannot fix the housing market on its own, [...]
Via The Street: Analysts reacting to the announcement are also calling the plan “dead on arrival.” FBR Capital analyst Edward Mills said in a note Wednesday morning that the plan was unlikely to get congressional approval, “as Congressional Republicans are opposed to additional intervention in the mortgage market and are philosophically opposed to a bank [...]
