If Joe Six Pack isn’t applying for mortgages and major investors end their purchases, we may reliable be able to predict how the market will snap back down.
Then came Barney Frank and Chris Dodd, two politicians who never spent a day in the operations of a mortgage company, but nevertheless created thousands of pages about day to day banking operations as they felt it should exist.
Housing on the surface continues to look good, however when you peel back the layers of that onion it appears to be growing only due to bubble inducing Fed policies.
The fact that this year’s sales were up 11% in September compared to last year, without the $7000 tax credit, is a very positive sign.
Here’s a group of people who spent their formative years demonstrating on campuses in the 1960s against corporate greed and war- and hitting the bong pretty hard. And what have they done now that they are in power? They have masterminded incredible transfers of taxpayer dollars to their rich corporate friends.
Consider comparing the economy to a game of tug-of-war. When there are winners, there are also losers on the other end. And if you’ve played tug-of-war, you know you can be on the winning or losing side of the game just as soon as the momentum swings in the other direction.
Mortgage giants Fannie Mae and Freddie Mac, along with the Federal Housing Administration (FHA), are currently holding approximately 250,000 foreclosed homes. That’s roughly half of all unsold, repossessed properties. Plus, these government-backed agencies may soon be forced to repossess 830,000 more homes currently in some stage of foreclosure.
To find out, we went back into our previous analysis of the value of the President's primary residence in Chicago, Illinois, and updated it using the Federal Housing Finance Agency's latest revised data for how housing prices have changed in the Chicago metropolitan area over time.
More than 30 million Americans are living in "poverty," according to the U.S. Census Bureau. That’s one out of every seven people. But what does it really mean to be "poor" in America?
Gotta love the Democrats when they pass laws that don’t even attempt to solve the problems the laws were intended to address in the first place. If they solved problems then they wouldn’t get to write the outrage letters.
Real estate professionals often get bashed when they suggest that “now” is a good time to buy property. While critics can have many subjective opinions based on their unique experiences, math always tells the truth.
For the last several months, pension managers, school districts and public officials have been howling about the alarming state of employee pension funds.
The Harvard study, the Obama report, and the Washington Post all display an appalling ignorance of the real estate market – or worse, participation in a cover-up intended to (again) protect their the political allies responsible for this mess.