Tag Archives: price declines

Obama’s Failures With Housing

President Obama entered office claiming he’d help nine million Americans facing foreclosure. The actual number helped by his various plans is well under one million. The housing industry remains in bad shape, perhaps worse than when Obama entered office. The … Continue reading

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What The Subprime Market Gave In Loans, It Now Takes Away

Neighborhoods filled with subprime loans have had high rates of foreclosures over the past four years. As home values have plunged in these neighborhoods, banks have had no interest in refinancing loans underwater and no appetite for writing new mortgages. … Continue reading

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Mortgage Delinquency Rate Still Well Behind Last Year At This Time

Reversing an 18-month decline, the mortgage delinquency rate grew up in the second quarter. What led to this decline? Widespread mortgage modifications. When the mortgage delinquency rate stays below 10%, we might get a floor on home price declines. With … Continue reading

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Homeowners In Distress – Doesn’t Your Heart Bleed?

I fail to be heartbroken that millions of Americans bought more home than they could afford and that they are now struggling to stay in it. Why should I care about people’s bad financial decisions? Why is the decision to … Continue reading

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Should You Buy Or Rent?

Rents have doubled as a ratio of home prices over the past couple of years in places such as the San Francisco Bay Area. Home prices are expected to drop another 5% in 2011 while rents will climb about 5%. … Continue reading

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10.8 Million American Homes Are Underwater

The problem is worst in Florida and the West (California, Nevada, Arizona). But hurray, the number of underwater homes has decreased from 11 million. The number has improved throughout 2011. But this good news is coming to a halt. There … Continue reading

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California’s Simple Foreclosure Process

What’s the friction in doing a deal? How complicated and messy can it get? Or will it be smooth? Compared to Florida, California has a smooth way of handling foreclosures. That’s why California’s housing market is doing better than Florida’s. … Continue reading

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Looming Shadow Inventory Of Over 2 Million Homes

A new report says about two million foreclosed homes have yet to come to market. When they do, they should depress home prices further, exacerbating a cycle that leads to even more foreclosures, further price declines and the like. During … Continue reading

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What Housing Auctions Tells Us About Our Economy

The housing market has stabilized, right? Prices are even going up in some places? David Leonhardt writes for the New York Times: In 2006 and early 2007, the official housing statistics were still showing that house prices were holding up. … Continue reading

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Mourning The Loss Of Home Equity

Over two million mortgages are under water. The situation is worst in Nevada, California, Florida, Arizona, Michigan and Georgia. Foreclosures in the state of Washington are declining. From Seattle: Almost 8 percent of Washington state homeowners with mortgages are “under … Continue reading

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