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House Prices Are Still Too High And They're Going To Tank -- Ritholtz
• Businessinsider.com/Normally, after a bubble, prices not only return to the mean but crash right through it, and Ritholtz thinks that that may be possible again this time.
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Normally, after a bubble, prices not only return to the mean but crash right through it, and Ritholtz thinks that that may be possible again this time.
The results of the first survey are out, and not surprisingly, it indicates that first-time “homebuyer traffic dropped sharply in May. This drop implies fewer signed contracts in June and fewer closed transactions in July and August.”
What usually happens when markets get wildly overvalued – and a ~3 standard deviation price move sure qualifies — is they get resolved not by reverting to the mean, but by careening far beyond it.
According to the Congressional Budget Office, the losses could balloon to $400 billion. And if housing prices fall further, the cost to the taxpayer could hit as much as $1 trillion.
On an aggregate basis, 81% of all loans in the state are ‘underwater’, and the average mark-to-market loan-to-value ratio of Florida loans is 138%. ‘Nearly 40% of all Florida borrowers owe more than 150% of the value of their homes,’ said Slump.
I am trying to get information on mortgage revocation or who I can contact for mortgage revocation. I have sent emails to the people on the webpage but I have not received any responses. Your help would be greatly apprecaited. &nb
Read LetterSince the collapse of the mortgage market 95+ percent of all loans are now “safe” government backed loans. Yet problems are still here. So doesn’t it seem unwise and downright illogical to try to get more people to buy if clearly wages...
"It is ironic, but there is a growing consensus that there may be a new housing shortage coming," said James Gaines, a real estate economist with Texas A&M.
One of the things that Markets are best at is price discovery — the determination of a price for a specific item through basic supply and demand factors. Without the heavy hand of the government intervening, the real estate market is about to ex...
The Gulf of Mexico oil spill is the greatest environmental disaster in U.S. history, and it is threatening to become one of the greatest economic disasters in U.S. history. Agents along the Gulf coast are reporting that the spill has completely kill
Backed by a multibillion-dollar private equity firm in New York, a team of Miami investors and strategists launched Lionheart Capital this year looking to scoop up choice South Florida condos at rock-bottom prices.
Notice how the late 1980s-early 1990s housing downturn, which was considered to be serious at the time, pales in comparison in contrast to our current slump. And in that downturn, it took fifteen quarters for prices to bottom.