Sep 182014
 
OCHN: Low mortgage rates fail to overcome buyer reluctance

Mortgage interest rates are lower than last year, but sales volumes are also lower than last year as low rates fail to entice additional homebuyer demand.

I would like to own a Lexus LS 460. It’s a beautiful and luxurious automobile; however, I am reluctant to buy one because the price is… – Low mortgage rates fail to overcome buyer reluctance


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Sep 172014
 
Housing Forecast: Should you walk away from home debt?

Underwater homedebtors have no equity; what they do have is the dream of equity in the future. They have a position in a financial market that most resembles an option contract that is out-of-the-money. People who are underwater today and paying a premium are still hoping they will get a return… – Should you walk away from home debt?

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Sep 172014
 
Bubble News: Renting Versus Owning Residential Real Estate

Renting versus owning is both an intellectual, financial decision and an emotional decision. The financial decision is first and foremost an analysis of the comparative cost of renting versus owning. It makes no sense to pay more than rental equivalence to own residential real estate. Many… – Renting Versus Owning Residential Real Estate

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Sep 172014
 
OCHN: Housing market faces intractable problems with demand

A federal reserve study concludes weak demand in the housing sector is structural and will not be corrected by low mortgage interest rates.

The federal government set up the unemployment reporting procedures to mask the depth of problems with deep recessions. During the Great Depression… – Housing market faces intractable problems with demand


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Sep 162014
 
Mortgage Refinance: The question for the newly above water borrower: to sell or not to sell

The increase of home values have pushed some 1.4 million underwater borrowers into positive equity territory.  The Federal Reserve have engineered ultra low mortgage rates and banks have suppressed the shadow inventory into “cloud inventory‘”   Meaning many homeowners will r… – The question for the newly above water borrower: to sell or not to sell


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Sep 162014
 
Mortgage Foreclosure: Large down payments provide stability to the housing market

Down payments are the bedrock of the housing market. Large down payments preserve home ownership, reduce volatility in the market, and reduce the risk to our financial system. The only people who oppose them are realtors and originate-to-sell lenders who see down payments as an impediment to… – Large down payments provide stability to the housing market


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Sep 162014
 
Lenders allow delinquent borrowers to squat

Foreclosure rates are declining across the Southwest. Lenders are slowing foreclosures because they want house prices to bottom and start going up due to a lack of distressed supply on the MLS. This would be a natural occurrence once shadow inventory is eliminated, but right now, this slowing of foreclosures is a contrived policy of a cartel desperately hoping they can force prices to move higher. If foreclosures were declining because lenders were out of delinquent mortgages to foreclose on, we would all be celebrating the housing market recovery. However, lenders are not out of delinquent mortgage squatters to boot [Read More...]

Sep 162014
 
OCHN: Bankers refusal to make bad loans hinders housing recovery

Home price appreciation and sales volumes in housing markets across the United States stalls out because lenders refuse to make bad loans.

The cycle of boom and bust is really over. Lenders steadfastly refuse to make loans to under-served borrower groups to provide the “escape… – Bankers refusal to make bad loans hinders housing recovery


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Sep 152014
 
USA Foreclosure: Bankers are the biggest and worst slumlords in US history

Landlords profit by charging high rents and spending little on maintenance. Good landlords charge reasonable rents to avoid excessive turnover, and they spend wisely to maintain the quality of their property. Slumlords charge unreasonable rents, and spend only what they are forced to by… – Bankers are the biggest and worst slumlords in US history


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Sep 152014
 
Occupy LA was on the wrong side of the foreclosure issue

I don’t have any political ax to grind with the left. In fact, on many issues, I lean more left than right, but on the issue of giving away free houses, I think the extreme left has it wrong. In their interest in pandering for votes, they are calling up the troops in the Occupy wherever… – Occupy LA was on the wrong side of the foreclosure issue

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Sep 152014
 
OCHN: Mortgage and foreclosure crisis 2.0

The mortgage and foreclosure debacle of 2008 was cut short by government intervention. A second round of deferred distressed sales is yet to hit the market.

Is the mortgage and foreclosure crisis resolved or merely delayed? Most people believe the mortgage and foreclosure crisis of 2008 is… – Mortgage and foreclosure crisis 2.0


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Sep 142014
 
Loan Mod Default: Loan modifications revived house prices, homebuilding, and the economy

Loan modifications removed distressed inventory from the MLS, bottomed house prices, revived homebuilding, and resuscitated the economy. – Loan modifications revived house prices, homebuilding, and the economy


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Sep 142014
 
USA Housing: Cheap credit and low cash returns causing mortgage debt bifurcation

One of the side affects of Quantitative Easing (QE) and the Zero Interest Rate Policy (ZIRP) has been ability of homeowners with debt to refinance at lower rates with shorter mortgage terms like a 10 year, 15 year or 20 year fixed rate mortgages.   Even the loan mods for loanowners have cheap t… – Cheap credit and low cash returns causing mortgage debt bifurcation


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Sep 132014
 
Ponzi Debt: Crooks, thieves, and liars: the nefarious characters of the housing bust

Have you noticed that most of the human interest stories from the housing bubble have no heroes? The housing bust has brought out the worst in mankind. Every party involved seeks to avoid any financial responsibility while simultaneously looking for ways to game the system to their advantage…. – Crooks, thieves, and liars: the nefarious characters of the housing bust


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Sep 132014
 
RE Ruin: Debt-to-Income Ratios Impact on Residential Real Estate Markets

The debt-to-income ratio is a measure of how far buyers are “stretching” to buy real estate. Buyers have historically committed larger sums to purchase real estate when prices are rising in order to capture the appreciation of rising prices. Conversely, buyers have historically committed smaller … – Debt-to-Income Ratios Impact on Residential Real Estate Markets

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Sep 122014
 
Debt Default: Lenders are responsible for the bad borrowers they create

Banks created their own nightmare. They turned good borrowers into HELOC dependent Ponzis, inflated a massive housing bubble, and now that prices are crashing, lenders are surprised at the behavior of borrowers. Each side feels they are being victimized by the other. Lenders are being left to… – Lenders are responsible for the bad borrowers they create


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Sep 122014
 
OCHN: Federal program to avoid foreclosure a dismal failure

To avoid the political backlash of thousands of foreclosures, HUD sold delinquent loans to investors who pushed the borrowers out.

Federal officials touted their foreclosure avoidance programs as an alternative that would keep borrowers in their homes. Apparently, paying for a house is no… – Federal program to avoid foreclosure a dismal failure


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Sep 122014
 
Housing Market: California records its one millionth foreclosure

Everyone active in the real estate market today laments the lack of available inventory. Orange County housing market prices are rising due to the restricted inventory. Banks go “all in” betting on success of loan modificationsto resolve their prior bad loans. In the interim, delinquent mortgage … – California records its one millionth foreclosure


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Sep 112014
 
Real Estate Loan: FHA lowers the boom on Coastal California housing markets

Late Friday afternoon, in an attempt to bury an important story, the department of Housing and Urban Development (HUD) directed the Federal Housing Administration (FHA) to lower loan limits in high-priced markets. On January 1, 2014, borrowers will be limited to $625,500 loans in Coastal… – FHA lowers the boom on Coastal California housing markets


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Sep 112014
 
OCHN: High prices hurting new home sales

High home prices is hurting new home sales, which may slow homebuilding employment growth and perpetuate economic weakness.

In June I reported new and resale home sales slumped in the prime selling season this year. In July I reported the June new home sales numbers plummeted from June’s… – High prices hurting new home sales


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