Tag Archives: foreclosed homes

Housing Crash Increases Rent Costs

You’d think a crash in real estate prices would reduce rents. You’d be wrong. As more people leave their homes and abandon their dream of owning their home, more such people are forced to rent. Rising rents are fueling inflation … 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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Will The Federal Government Make A Good Landlord?

With hundreds of thousands of Americans defaulting on their mortgages, there’s been increased demand for rentals. So while home prices are going down for the past four years, rent is going up. Fannie Mae and Freddie Mac have thousands of … Continue reading

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Banks Hold Almost A Million Foreclosures

The New York Times today features a long article on banks holding about 872,000 foreclosed properties. Banks are in the process of foreclosing on another million homes and analysts expect banks to foreclose on several million homes in the next … 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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Non-Profits Buying Foreclosures At A Discount

Many non-profit groups are buying foreclosures at a discount before they go on the market for speculators. Redevelopment agencies are working with non-profits to try to revitalize neighborhoods affected by a rash of foreclosures, but their efforts are tiny compared … Continue reading

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Home Prices Keep Falling

Home prices have fallen for more than four years. I bet they fall for another four years. My sense of things is that the average home in the United States is over-priced by about 10%. Banks have hundreds of thousands … Continue reading

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Fannie Mae Allows You To Lease Back Your Foreclosed Home

You can also rent it back. At what price? Market price says Fannie Mae. Lenders are doing everything they can to staunch the tide of foreclosures which threatens to overwhelm home values. The more foreclosures, the lower the real estate … Continue reading

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Los Angeles Home Price Edge Up

The Los Angeles Times reports: “The price is still 45.5% below the 2007 peak and 16.7% lower than a year earlier. Sales are limited because fewer foreclosed homes are on the market.” Here are a bunch of numbers: $275,000. That’s … Continue reading

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Stemming Foreclosures

From the New York Times: The idea of helping Main Street has an undeniable appeal. Housing is at the root of the financial crisis, and preventing foreclosures could bring a double-barreled benefit. It would allow families to remain in their … Continue reading

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