Sep 012014
 
USA Foreclosure: Quantitative easing and mortgage interest rate stimulus bail out Wall Street, not Main Street

The populace was sold on quantitative easing and mortgage interest rate stimulus as a measure to save “Main Street.” It was said this money pumped into the economy would create jobs, and the combination of jobs, increased incomes, and low mortgage rates would cause a boom in housing… – Quantitative easing and mortgage interest rate stimulus bail out Wall Street, not Main Street


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Sep 012014
 
Lower conforming limit causes 84% decline in loan volume

In Los Angeles and Orange Counties, the conforming loan limit dropped from $729,750 to $625,000 on October 1, 2011. Many market bulls claimed this would have no effect on sales. In November sales of houses with loans between $625,000 and $729,750 declined 84% as compared to last November. So… – Lower conforming limit causes 84% decline in loan volume

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Aug 312014
 
Loan Mod Default: Will loan amortization solve the underwater borrower problem?

Many housing market analysts erroneously believe loan amortization will rescue underwater borrowers. Many loan modifications don’t amortize, so those borrowers are not reducing their debts. – Will loan amortization solve the underwater borrower problem?


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Aug 312014
 
USA Housing: It's official: Housing bubble has reflated

Language has a powerful influence on our perceptions and beliefs about reality. The current meme on the housing market is that prices have “recovered.” Financial recovery suggests the return to a natural equilibrium from and undervalued state. In the case of housing, this suggests… – It’s official: Housing bubble has reflated


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Aug 302014
 
Ponzi Debt: The FHA is giving loans to Ponzis to reenter the housing market

Do we really want to let Ponzis back into the housing market? There is a large group of people who’ve proven to be completely irresponsible with mortgage debt as evidenced by my daily debtor debacles. I wrote yesterday that Pent-up demand from boomerang buyers may not materialize, but… – The FHA is giving loans to Ponzis to reenter the housing market


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Aug 302014
 
RE Ruin: Hyperinflation and the Housing Market

The Federal Reserve under Ben Bernanke began aggressively lowering interest rates at the end of 2007 in response to the severe economic downturn caused by the collapse of house prices and the related difficulties falling house prices had on the banks and other institutions that made loans using… – Hyperinflation and the Housing Market

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Aug 292014
 
Debt Default: After Eight Years of Squatting, Who Absorbs the Losses?

  Mortgage Mess: Shredding the Dream The foreclosure crisis isn’t just about lost documents. It’s about trust—and a clash over who gets stuck with $1.1 trillion in losses October 21, 2010 — Peter Coy, Paul M. Barrett and Chad Terhune In 2002, a Boca Raton (Fla.) accountant … – After Eight Years of Squatting, Who Absorbs the Losses?


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Aug 292014
 
Housing Market: How the new mortgage rules will impact the housing market

When Congress took on the task of regulating the excesses of the mortgage industry, it ostensibly wanted to prevent a recurrence of the housing bubble. To that end, they passed the Dodd-Frank finance reform. One of the provisions of Dodd-Frank was to establish a “qualified mortgage”… – How the new mortgage rules will impact the housing market


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Aug 292014
 
OCHN: Are low house prices better than low mortgage interest rates?

Both low mortgage interest rates and low house prices reduce ownership costs for financed buyers, but which one is better?

Whether low house prices or low interest rates are better is a matter of perspective. From a lender’s point of view today, low mortgage rates and high prices are… – Are low house prices better than low mortgage interest rates?


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Aug 282014
 
Real Estate Loan: Has FHA increased their fees so high they are now a predatory lender?

Just in case you didn’t know FHA is a government insurance program for lenders. FHA has front-end Mortgage Insurance and regular Mortgage Insurance and it’s paid by the borrower.  These rates have greatly increased since 2007. Now a new question is being asked.  Is FHA now one the l… – Has FHA increased their fees so high they are now a predatory lender?


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Aug 282014
 
OCHN: What if Millennials and boomerang home buyers never materialize?

Housing bulls continue incorrectly predicting the return of Millennials and boomerang buyers. It’s time to consider what happens if they never come back.

As home ownership rates plummeted with waves of foreclosures in the aftermath of the housing bubble, real estate pundits pinned hopes f… – What if Millennials and boomerang home buyers never materialize?


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Aug 272014
 
Housing Forecast: Ownership Cost: Homeowners Associations

High HOA fees can make a ghost town out of a good neighborhood. This cost is unique among our cost estimates because there is a high degree of uncertainty about the future of HOA fees — and worse yet, the possibility of assessments — that are not in a point-in-time analysis like our… – Ownership Cost: Homeowners Associations

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Aug 272014
 
Bubble News: Why Most Real Estate Speculators Fail

Despite the huge price spike in the final two years of the Great Housing Bubble caused by wild speculation, most speculators will lose a great deal of money. They will buy when prices are high, and they will sell when prices are low. The causes are rooted in basic human emotions that work… – Why Most Real Estate Speculators Fail

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Aug 272014
 
OCHN: Coastal California housing least affordable in US

Persistent shortages of housing in Coastal California inflates both rent and home ownership costs relative to incomes, making housing an economic drain.

Despite the rapid home price increases from March 2012 to July 2013, I’ve consistently maintained we are not in a new bubble — at… – Coastal California housing least affordable in US


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Aug 262014
 
Mortgage Refinance: Ravings of an entitled whiner struggling to keep a house she can't afford

The housing bust is littered with sob stories about people losing their family homes. As I noted Responsible Homeowners are NOT Losing Their Homes. To see the truth in this statement, one needs to have a clear definition of “responsible homeowner.” A “responsible homeowner” is a buyer who, if the… – Ravings of an entitled whiner struggling to keep a house she can’t afford


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Aug 262014
 

People get caught up in their empathy with those losing their family homes to foreclosure. Its easy to get sucked in to the emotional stories of victimhood and believe that perhaps we should stop foreclosures. We all forget that the distressed debtor who rented money from the bank to occupy the… – New families find the houses lost in foreclosure


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Aug 262014
 
Foreclosure counseling wasted taxpayer money

Most federal assistance programs are a waste of money. They set up an entrenched bureaucracy that drains taxpayer resources and provide little economic return. There are exceptional government programs that deliver great benefit at little cost to taxpayers, but the foreclosure counseling services are not one of those programs. Most of these borrowers are hopelessly underwater or overextended. The counseling might have done some good before they got into this mess, but at this point, telling them what they should have done differently isn’t going to help. Programs like this are created as political cover to deflect criticism that the [Read More...]

Aug 262014
 
OCHN: Sign of housing market top: high-end home flipping soaring

Headlines of house flipping and increased novice investor participation of signs of a top in the housing market for high-end homes.

Contrarian investing is the art of selecting and timing investments by directly opposing the actions and attitudes embraced by the crowd of enthusiastic but… – Sign of housing market top: high-end home flipping soaring


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Aug 252014
 
USA Foreclosure: How lenders liquidate legacy loans will lift or lower house prices

The housing bust is over. Struggling borrowers found new high-paying jobs, cured their delinquent loans, and eliminated the temporary stress on the housing market brought about by the Great Recession. … Well, at least that’s what the mainstream media wants everyone to believe. If… – How lenders liquidate legacy loans will lift or lower house prices


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Aug 252014
 
Increasing borrowing costs will lower house prices

Borrowing costs are likely to increase in 2012 for a variety of loans. The lower conforming limit will push many borrowers to either the FHA or the jumbo market where borrowing costs are higher. The FHA may also raise its borrowing costs again to cover the inevitable losses from the ongoing… – Increasing borrowing costs will lower house prices

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