Tag Archives: real estate values

The Double-Dip Housing Recession

I expect home prices have at least another 15% to decline before they bottom out. We’re heading into a double-dip housing recession, say many experts. Rising oil prices will reduce consumer spending power and decrease economic growth and job creation. … Continue reading

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My Humble Blog Got A Comment From Mortgage Expert Carolyn Warren

Carolyn Warren writes the best books on mortgages and the like and she has a formidable online presence. My humble blog post on a bit of her latest book elicited this comment from Carolyn: It will be interesting to see … Continue reading

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Feeling Like A Sucker For Not Walking Away From An Underwater Home

I am amazed at how often people stay in underwater homes. They have a huge economic incentive to walk away but they feel a moral responsibility to pay off their mortgage, even when it is not in their self-interest. Banks … Continue reading

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Avoiding The Strategic Default

About eleven million American families are underwater on their mortgages. They owe more on their homes than they are worth. Much of the time, it would make sense for these families to walk away from their mortgages. This would increase … Continue reading

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Can The Housing Market Stand On Its Own Two Feet?

The federal government has intervened massively to hold up real estate prices and reduce foreclosures. The result? Home prices and foreclosures have held steady for the past three months. Now the FHA is tightening lending standards. Interest rates are edging … Continue reading

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Alabama Thrift Stops Mortgage Lending

It got stung by its losses and realized it could no longer manage the mortgage lending disaster. The AP reports: The second-largest thrift in Alabama is suspending mortgage lending amid hefty third-quarter losses as real-estate values moved lower and foreclosure … Continue reading

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Commercial Real Estate Still Has Not Hit Bottom

The subprime market went first. Then regular mortgages went south as people lost their jobs and could not make their mortgage payments. Foreclosures rose, real estate values fell, HELOC dried up, and home owners floundered. Commercial real estate has stayed … Continue reading

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I Don’t See A Housing Crash In Pico-Robertson

I don’t see housing values dropping much nor rents dropping. They are dropping in Beverly Hills. Pico-Robertson is the heart of Modern Orthodoxy in Los Angeles. If you look around on Shabbat, thousands of Jews are walking to synagogue. In … Continue reading

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Two New Books On The Mortgage Crisis Reviewed In Sunday’s New York Times

One guy who signed on for a mortgage he could not handle was a New York Times economics writer. His new book is called BUSTED. Alyssa Katz has published, Our Lot: How Real Estate Has Come To Own Us. Katz … Continue reading

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AIG To Sell Mortgage Insurer

Insuring mortgages. That would not be a business I would want to be in right now with real estate values crashing and mortgage defaults soaring and unemployment rising and GDP falling. AIG has taken tens of billions from the US … Continue reading

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