Tag Archives: downward pressure

Home Prices Down 4% Over Past Twelve Months

The downward pressure on home prices is expected to continue through this year and few experts expect prices to increase substantially for the next three years. As long as unemployment and underemployment is high, there’s not going to be much … Continue reading

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Has The Housing Market Hit Bottom?

When you look at the evidence, it appears clear that the downward pressure on home prices remains much stronger than the slight wiffs of improvement. While unemployment is high, economic growth is low, and the prospects for the future are … Continue reading

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Home Sales Up 7.7% In August

But why were they up? Because of an increase in foreclosures, which will put downward pressure on home prices, leading more homeowners underwater and more foreclosures and the vicious cycle deepens. Lower home prices and lower mortgage interest rates also … Continue reading

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Banks Gradually Clearing Backlog Of Mortgage Delinquencies

Overwhelmed by the number of mortgage delinquencies, banks are overcoming their paperwork processing issues to process more foreclosures and to sell these homes and move them through the system. With each foreclosure, banks lose on average more than $40,000. For … Continue reading

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Single Family Home Construction Down

I don’t expect a rebound in home prices for three years. Similarly, I don’t expect a boost in home construction for at least three years. There are just so many unsold homes on the market, so many homes going into … Continue reading

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Failure To Launch In Home Sales

I’m watching an expert on CNBC. There’s a complete lack of urgency in the housing market. People don’t feel like they need to buy now. They expect prices to be even lower in six months. We can expect downward pressure … Continue reading

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We’re Headed For Another Housing Disaster

If mortgage interest rates keep rising, mortgage defaults will rise along with them. If unemployment stays near 10%, not many people will be able to take on mortgages, putting more downward pressure on home prices. Or have home prices bottomed … Continue reading

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The Mortgage Clinic

From London’s Independent: ‘I’ve saved a 10 per cent deposit that finally allows me to afford a studio flat in London for about £170,000. But, with all this uncertainty about house prices, I’m wondering whether to hold off and save … Continue reading

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The UK’s Mortgage Gap

From the BBC: Net lending for mortgages – that’s mortgage lending over and above the refinancing of existing mortgages – was £110bn last year (it was a similar amount in 2006 and a touch less in 2005). According to a … Continue reading

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America’s Two Largest Mortgage Finance Companies Get A Break

The New York Times reports on something that will mean easier and cheaper mortgages for many: WASHINGTON — With the blessing of the Bush administration, the regulator of Fannie Mae and Freddie Mac, the nation’s two largest mortgage finance companies, … Continue reading

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