Monthly Archives: January 2011

Fannie Mae, Freddie Mac Are Unlikely To Be Privatized

Though they have been bailed out to the tune of $140 billion, lawmakers are unlikely to privatize Freddie Mae and Fannie Mac. They underwrite about 90% of conforming home mortgages. You think the housing market is bad now? Well, sales … Continue reading

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When Are We Going To Get Some Mortgage Reform?

The Bush administration did its best to get Fannie Mae and Freddie Mac under control during the housing boom but Barnie Frank and the Democrats (and some Republican legislators) derailed any attempts at reform. Barnie Frank said we didn’t have … Continue reading

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What’s So Special About The 30-Year Fixed Rate Mortgage?

I don’t get why the government has to interfere so much with the housing market. It was the most solid investment one could make. Now that’s all gone up in smoke. If someone wants to rent or own or to … Continue reading

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What Caused The Housing Meltdown?

How about politicians and bureaucrats forcing banks to lend money to people who had a high risk of not repaying their loans? How about government manipulation of what was the most secure economy? The Los Angeles Times says: The dissent … Continue reading

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Unhappy Tenants At Aqua Complex, Marina Del Rey

Here are my previous reports on this. I wrote a few months ago about the fall of real estate developer Laurence Gluck and the unhappy residents of the AQUA apartment complex at 4750 Lincoln Blvd, Marina Del Rey, CA 90292. … Continue reading

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The End Of The Mortgage Interest Tax Deduction

It seems inevitable that politicians will end the mortgage tax deduction in the next couple of years under the pressure of horrendous government deficits. What did we get for all this massive government interference and enabling of the housing industry? … Continue reading

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Mixed Housing Numbers

Whether or not this particular stat is up or down, the overall picture for the housing market is grim. Moderate rebounds in the sales of previously owned homes won’t pull the housing market out of its doldrums. The fundamentals are … Continue reading

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Housing Starts At A One Year Low

Mortgage rates are dropping as housing starts are at a one-year low. Without subsidies, home prices, sales, mortgage applications keep falling. Why would builders bother to build in this climate? And who among the unemployed is going to be able … Continue reading

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Mortgage Rates Fall

For the past two months, mortgage rates have ticked steadily upwards. Now they are falling. You can get a 30-year fixed rate mortgage at 4.77%. Fewer people are applying for mortgages and refinancing, home sales are down and foreclosures heading … Continue reading

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Mortgage Modifications Hard To Get

Here are the three basic reasons according to this Washington Post article: “Loan modifications often don’t work out because the homeowner doesn’t understand what’s out there, the lender is reluctant to write off part of the loan or, as in … Continue reading

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