From the category archives:

Housing

Still Bleak Outlook for Housing

May 17, 2011

Here is a well researched article on the current state of the housing market. It was sent by John Mauldin, but the research is from Gary Shilling. I follow Gary’s work religiously as he called the housing bubble well before it imploded. If you are a realtor, you may not want to read this as [...]

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Huge Problems with Mortgage Modifications

May 10, 2011

Great four part story on loan modifications from MSNBC (hat tip Barry Ritholz). I could go on about the inept government HAMP program or the greed of bankers, but this story does the job nicely. Visit msnbc.com for breaking news, world news, and news about the economy Be Sociable, Share! Tweet

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Australia Following the US in a Housing Bubble?

April 5, 2011

Interesting video clip from Down Under. I think Australia is heading for a housing bust. Maybe it won’t be quite as bad as the US since Australia’s total Debt to GDP ratio is substantially below our; however, their mortgage debt to GDP is higher than ours was when we peaked. It is interesting to see [...]

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Zandi Predicts Housing Bottom – Translates to More Doom

December 28, 2010

With the Case-Shiller index showing four months of declining home values and 2.2 million homes now 90 days late (or greater), housing is clearly having issues. The problems are only exacerbated with rising mortgage rates even if the rates are still low historically. Yet, in his annual ritual, economist Mark Zandi is calling for a [...]

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Could the Mortgage Mess Crater the Economy

October 18, 2010

This past weekend, I did extensive reading on the mortgage situation. Before digging into it, I assumed the situation could be narrowed down to sloppy administrative procedures by the banks. Foreclosure specialists approving 10,000 requests a month led me to believe it was just an overwhelmed system. After this weekend, it could be much worse [...]

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Just Cause the Banks are Idiots Doesn’t Mean You Can Stop Paying Your Mortgage

October 15, 2010

As I am sure you have heard or read, the banks have not been following the proper procedures for the foreclosure process. Some bank employees have been approving over 10,000 foreclosures a month. This means that the employee has merely been signing his name 10,000 times because it is physically impossible to research the title [...]

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Beware of Foreclosing Banks

September 23, 2010

The housing downturn is obviously a new paradigm for this country. We have never seen foreclosures at this level except maybe back in the 1930s. The banks are not equipped to handle the sheer numbers of foreclosures, especially considering most banks have cut staff to improve their earnings. This will probably get worse as 7.2 [...]

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Australians Believe in Real Estate Fairy

July 14, 2010

There has been a lot of press dedicated to the Chinese and Australian real estate markets. Are they overvalued or is demand greater than supply.  Here is an article arguing that Australia does not face a housing bubble or crash as demand greatly exceeds supply (h/t The Real Estate Bloggers). The source of her frustration [...]

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Another Silly Government Idea

July 8, 2010

The State of Maryland is offering mortgage incentives for folks whose jobs are relocating to Maryland due to the Base Realignment and Closures (BRAC). The theory is to get people who might rent or commute from Northern Virginia to buy in Maryland. Like most government programs, it sounds good in theory, but it makes no [...]

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Despicable Default Behavior

June 2, 2010

I have stated several times here and elsewhere on the web that a homeowner should have no remorse from defaulting on a mortgage if it makes economic sense. The mortgage is a contract, not an oath or vow. Contracts cover all actions including non-payment. So, if you are way underwater on a house and renting [...]

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