From HousingWire:
CoreLogic: Foreclosures fall to lowest level since 2007
The inventory of homes in foreclosure continued to decrease in November 2015, falling to the lowest level since November 2007, a new report from CoreLogic showed.
CoreLogic, a global property information, analytics and data-enabled services provider, released its November 2015 National Foreclosure Report on Tuesday.
The report shows that during the month of November foreclosure inventory declined by 21.8% and completed foreclosures declined by 18.8% compared with November 2014.
CoreLogic’s report also showed that the number of completed foreclosures nationwide fell year over year from 41,000 in November 2014 to 33,000 in November 2015.
Additionally, the number of completed foreclosures in November 2015 was down 71.6% from the peak of 117,657 in September 2010, CoreLogic’s report noted.
According to CoreLogic’s report, the foreclosure inventory represents the number of homes at some stage of the foreclosure process and completed foreclosures reflect the total number of homes lost to foreclosure.
CoreLogic’s report noted that as of November 2015, the national foreclosure inventory was approximately 448,000, or 1.2%, of all homes with a mortgage compared with 573,000 homes, or 1.5%, in November 2014.
The November 2015 foreclosure inventory rate marks the lowest for any month since November 2007, CoreLogic’s report showed.
“After peaking at 3.6% in January 2011, the foreclosure rate currently stands at 1.2% – a remarkable improvement,” said Dr. Frank Nothaft, chief economist for CoreLogic. “While there are still pockets of areas with high foreclosure activity, 30 states have foreclosure rates below the national average which is evidence of the solid improvement.”
But it wasn’t just the number of homes in foreclosure that fell to an eight-year low.
CoreLogic also reports that the number of mortgages in serious delinquency, which CoreLogic defines as 90 days or more past due, including loans in foreclosure or REO, declined by 21.7% from November 2014 to November 2015, to 1.3 million mortgages, or 3.3%, in this category.
According to CoreLogic, the November 2015 serious delinquency rate is the lowest since Dec. 2007.
…
Four states and the District of Columbia had the highest foreclosure inventory rate in Novemeber 2015: New Jersey (4.4%), New York (3.5%), Hawaii (2.5%), Florida (2.4%) and the District of Columbia (2.4%).
Would you bother to try buying a foreclosure? Or is that a waste of time/money? For the average buyer….
I wouldn’t want to be bidding against 30yr, and if I won against 30yr, it probably means I’m the loser.
Yes, sure. Nice move to try and shake the tree. How many sheepish investors will now be selling like idiots? I wonder if this institution is shorting?
“”Sell everything.”
That harrowing advice is from The Royal Bank of Scotland, which has warned of a “cataclysmic year” ahead for markets and advised clients to head for the exit. Do not wait. Do not pass go.
“Sell everything except high quality bonds,” warned Andrew Roberts in a note this week.
He said the bank’s red flags for 2016 — falling oil, volatility in China, shrinking world trade, rising debt, weak corporate loans and deflation — had all been seen in just the first week of trading.
“We think investors should be afraid,” he said.”
http://money.cnn.com/2016/01/12/investing/markets-sell-everything-cataclysmic-year-rbs/
In the end, it’s well worth it to buy a foreclosure. It’s just mind-numbing to go through all of the hoops with the seller. I would stick with REOs as opposed to going to the Courthouse and bidding on a foreclosure.
How does the saying go, more money more problems
Housing market needs incomes to grow: Fannie Mae
Housing affordability—or lack thereof—is going to put a damper on the housing market’s growth, according to Doug Duncan, chief economist for Fannie Mae (FNMA) and one of the biggest players in the housing market.
The home market has seen a couple of discouraging signs as of late:
• Two weeks ago, the National Association of Realtors reported that November’s pending home sales number—an indication of future sales—edged 0.9% lower compared to October while year-over-year growth was a modest 2.7%.
• Meanwhile, two ETFs tracking home builders (trading under the symbols XHB and ITB) are close to bear market levels, trading at or near 20% declines from their 52-week highs.
For Duncan, the story for housing is very much tied to whether incomes increase.
http://finance.yahoo.com/news/housing-market-needs-incomes-to-grow–fannie-mae-202526549.html#
I bet the person who purchased the tixs is not getting any love this week
New Jersey workers match every number in Powerball, but there’s one big problem
ENGLEWOOD CLIFFS, N.J. – When the Powerball jackpot jumped over $500 million, a lot of workers decided to increase their odds by buying lottery tickets as a pool.
That’s exactly what workers at Grissini’s Restaurant in New Jersey did.
The employees got together to read off the winning numbers and to their surprise, their ticket matched every single number for Wednesday’s $528 million prize.
The restaurant erupted into tears of joy, cheering and shouting.
According to WNBC, there was one big problem.
The “winning” ticket was not valid for Wednesday’s drawing. The group purchased the ticket after Wednesday’s numbers had been drawn, meaning it was only eligible for Saturday’s drawing.
Instead of becoming millionaires, the group walked away with nothing from Saturday’s drawing.
4 FKA,
You’re right.
Probably about the only way you won’t be going underwater in a house purchase for many years to come- retail is overpriced…
US Economy video.
https://youtu.be/rm0jdocOj30?t=6
From yesterday for Flab Mac & Cheese.
“My kid will have the STEM grades, what will differentiate her?”
As a c0ach of multiple sports. It’s not the private lessons, the weekend clinics or even natural ability. It’s the willingness of the parents to throw, kick or hit a ball to their kids a few times a week for a couple of hours that makes the difference. Remember, as a parent, use positive encouragement only. Unless of course, you want your kid to quit playing. Nothing is a great a deterrent to a child’s enjoyment of a sport than getting yelled at on the car ride home. Believe me, they know what they did wrong if it’s a major blunder. A little pre-game encouragement is fine. But too much and you risk depression on the ride home. Finally, if you have an issue with the c0aches, then become a c0ach. In more cases than not, they are training the kids appropriately. The problem is, that mommy and daddy have built their kid up to think they are better than J0rdan or Gretzky. Such kids can’t be c0ached. It takes humility to learn.
Finally, grades always come first. Gator Jr., got a C on a math test. Not only did we ban him from playing in an important game, but we made him go and explain to the other kids why he couldn’t play. At the time, he was responsible for over 2/3rds of the team’s goals. Sadly, the kids and the c0aches were cool with it. But we took some heat from the other parents. Especially in that it resulted in our only team’s loss (I think).
Gator Jr. is now in the 5th grade. Without a single private lesson, he qualified for RDS and plays top level MAPS in soccer and is probably AAA in ice hockey. We don’t really know, because I’m not willing to make that investment (yet). Perhaps next year, but we’ll see. He’s still too young to miss school for hockey. I have never once pushed him. He chooses what he wants to do. He’s also never gotten below straight A’s.
The differentiator, if your kid is to play hockey, is for you to buy a decent goal for the driveway. Make sure the driveway is smooth too. Then buy targets to put on the corners of the goal if your daughter can’t find friends who want to play with her. She’s better off playing with the boys at this age too to make those friends and to improve her competition. Buy a cheap set of street hockey goalie pads so you can play goalie and have her shoot on you a couple of hours a week. Get some cones too and make her dribble around them before she shoots. That’s really it. Do this for a few years and she’ll be the best player on the team, that is, if she develops a love for the sport. A lot of young kids play sports to please their parents. Look out for them. They are truly miserable inside and will eventually revolt. Usually, they are the ones with the insane sports parents. You know, the ones who curse out 15-year old referees and who want to fist fight with other parents in the parking lot.
Good luck and don’t push her. She has to want to do it.
Foreclosure can work you just need to set aside realistic budget on repairs. It also helps if you can do the work yourself, use craigslist/garage sales etc.
Corporate America at it again..
https://www.yahoo.com/tech/want-save-money-buying-own-modem-comcast-attack-142353191.html
The Great Pumpkin…you are such an amateur. PT Barnum would have had a field day with you.
“Sell everything.”
http://www.newsmax.com/Finance/StreetTalk/RBS,Stocks,Cliff,Bonds,Roberts/2010/07/14/id/364596/
Back in 2010, this same moron screamed the same thing.
Hell of a call Mr. Roberts. Perhaps he should have invested in canned pancake batter?
https://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1452702600000&chddm=717955&chls=IntervalBasedLine&q=INDEXFTSE:UKX&ntsp=0&ei=jGeWVuDTLYizjAGZnImAAQ
Come on leftwing. You a free market libertarian are dealing with a free market libertarian loving insurance company like Horizon. Rule #1, is always “caveat emptor”. When you deal with AT&T Cellular, Verizon, Time Warner or used car dealer do you believe what they or do you read the fine print and do your research. You see this is what I hate about you free market whiners. This is your world accept it.
By the way why did you think the “Omnia Alliance Plans” where so cheap? They had to cheat someone, is just it happens to be “you” and that is the way they did it.
Don’t despaired Horizon, Amerigroup and United have been ripping off the Medicare/Medicaid eligible special need crowd for a while. This is a crowd of usually frail elderly and disable that have no one watching for them. So when these poor suckers, which should have stayed in the stand alone Medicare Plan with the Medicaid HMO as a supplemental with a few dollars for out-pocket, usually for prescriptions, sign up for the SNP/Dual eligible offered by these companies thinking they got a lot of benefits at $0 cost they get put in a track where they have incredible high barriers and very limited list of providers to get services, in essence they insurance companies hopes they die waiting.
So relax, cheer up! Is the free market way of telling you to drop dead before you cost them money.
leftwing says:
January 12, 2016 at 6:42 pm
OK, got my cards for Horizon BCBS and prominently on the back (although nowhere else through the application process) it states “this member has no benefits outside of New Jersey”.
Anyone have any knowledge? So if I need a doc, forget a hospital, while visiting my parents out of state I am SOL? Tried calling, closed for the day.
Grim, please release post. Is timely and important
9-
Lib, kids respond differently to parental punishment. But, they do have long memories. If my dad had done to me what you did, I would’ve resented him for a he11 of a long time.
Alex…agreed.
Some kids respond differently to varied c0aching (and parenting) approaches. I didn’t force him to go to that game. He wanted to go. I just told him that his teammates would want to know why he wasn’t playing and that he shouldn’t lie about it. It might have been a ‘D’ on the test too, now that I think more about it.
“Barack Obama released terrorists from Guantanamo, and now they’re plotting to attack us. Instead of fighting to fund our troops, he fights to fund Planned Parenthood. He spies on Israel and cut a deal with Iran,” Rubio said. “His plan after the attack in San Bernardino? Take away our guns. And while ISIS is beheading people and burning them in cages, he says climate change is our greatest threat. … America needs a real commander in chief and a president who will keep us safe.”
Truth hurts. Of course, I didn’t watch a second of the speech because I can’t stand the sight of the phony f.uck. We really are in need of a statesmen.
Just wait for Cankles.
Some of those crazed youth sports parents crack me up, especially the short ones who think their kid is the next Cristiano Ronaldo. Somebody should tell them early on that average player in the European soccer leagues is 6 ft tall, and the ones that don’t make it there end up here on a scholarship and perhaps their kid would be better off focusing on gymnastics if they want their kid to get a scholarship.
17.
Sorry, no statesmen/stateswomen in the current lineup. All sold out. We will send you an email when they are back in stock….
Juice. Mine is projected to be 6’3″. He’s also all muscle. His legs are like tree trunks. The rest is up to him. The only incentive I’ve given him is that he knows that the money to pay for his college would go to a home downpayment if he manages to get a free ride. I still think his best chance is by kicking field goals. He’s definitely interested in trying it. We’ll start heading down to the football field once he’s 13 or so.
re# 17 – President elect Rubio’s first order on Inauguration Day one year from now is to carpet bomb North Korea’s nuclear facilities, which unexpectedly causes a nuclear dust cloud to spread north and settle on the city of Shengyang in China, within days the city’s entire population of 5 million has radiation poisoning and we now have a new enemy that wants us all dead too.
As far as overseas goes Rubio is way off base. I think we should arm them and let their god sort it out. Trump is correct it is someone else’s problem so let them go to war over it, we cannot afford to be World Police anymore, let’s focus here at home getting 40 million people off of Food Stamps first before we spend another trillion in money and untold amounts of blood.
I have no problem with all foreign aid being cut immediately.
And what’s this I hear about Joe Biden curing cancer now? Really.
23. Key word is ALL, no exceptions. Not very realistic, however.
Q.Why does Medicare allow for the price gouging of prescription drugs?
A.Your government is allowing this, because the pharmaceutical industry convinced enough legislators in 2003 to forbid Medicare from negotiating drug prices when Congress enacted the law creating Part D drug plans. It was a bad move then, and it is costing us even more now. As new generations of effective but very expensive drugs hit the market, Medicare has little choice but to pay up.
President in 2003, George W. Bush. How much power he had to control the other cretins and muppets that surrounded him? It’s anyone’s guess.
Then you have these two cretins fighting over money. Anthem says Express Scripts is gouging them. Express Scripts turns a profit by controlling/excluding the medications available to patients.
Younger patient’s can’t get the meds they need due to every corporation here needing their “cut”, just like the mafia.
On the other hand, the taxpayers are giving Medicare patients anything they need at any cost-as there is NO negotiation.
Amazon should take the whole thing over…..
We will see. I think he is wrong this time. I would not sell everything. If does go down, it will not last long, it will be a quick correction. American economy rules the world, not china, and the American economy is starting to look like it’s in a stronger position than it has been in a very long time. It’s seriously on the verge of a major boom.
Libturd supporting the Canklephate says:
January 13, 2016 at 10:06 am
The Great Pumpkin…you are such an amateur. PT Barnum would have had a field day with you.
“Sell everything.”
http://www.newsmax.com/Finance/StreetTalk/RBS,Stocks,Cliff,Bonds,Roberts/2010/07/14/id/364596/
Back in 2010, this same moron screamed the same thing.
Hell of a call Mr. Roberts. Perhaps he should have invested in canned pancake batter?
https://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1452702600000&chddm=717955&chls=IntervalBasedLine&q=INDEXFTS
Oh I agree, all, straight across the board.
Spend it all on single payer.
26- And the pancake batter will make me money….only a matter of time.
Pumps – It is mathematically impossible to make the public or private sector investments necessary to sustain our economic competitiveness while flushing away 4 percent of GDP year after year into Stock buybacks. New corporate investment in assets is at its lowest level in 60 years.
The game will be up once there are no more profits to boost the stock prices artificially. The firm I work for has taken over millions and millons shares off the market via buybacks and borrowed to do so just like Apple. Stock buybacks worth almost $2 trillion have helped buoy the bull market since the bottom in March 2009.
Once the expenses go up do to wage inflation, buybacks will go down and hense the markets down.
Place yer bets folks for 2016. my prediction for 2016 is down.
re: # 27- Single Payer.
If you waste your vote for Hillary you won’t see Single Payer.
Trump FYI is for single payer.
Wait, one correction, Biden is going to cure cancer in 15 months.
Someone didn’t read Siddartha Mukherjee.
Can’t have single payer when you are owned by the (multiple) insurance companies. Send in your contributions NOW!
re # 31 – reminds me of Norm McDonald.
Great standup..
https://www.youtube.com/watch?v=PoXeHndHlZo
Don’t bet on a cure for cancer, instead bet on a cheap cancer test that will scare the bejesus out of everyone.
http://finance.yahoo.com/news/got-sneak-peek-cancer-test-204300785.html
The End is Nigh
http://www.cnbc.com/2016/01/12/media-mogul-rupert-murdoch-engaged-to-ex-model-jerry-hall.html
7 years of wear and tear on the POTUS.
http://i.imgur.com/zTdCov5.png
You also can’t have it with the current pricing structure in healthcare directly related to the cartel protections the government provides the industry with.
Libturd supporting the Canklephate says:
January 13, 2016 at 12:10 pm
Can’t have single payer when you are owned by the (multiple) insurance companies. Send in your contributions NOW!
(projected) 7 years of wear and tear on Hillary if elected POTUS
http://tinyurl.com/7-years-of-hillary
Stu (9)-
Gluteus’ kid is ill-bred and has cankles. Not exactly a top hockey prospect.
Somebody teach gluteus’ kid how to drive the Zamboni.
I’m giving him the benefit of the doubt. A true liberal wouldn’t sign his kid up to play any Winter sport. You know? With the climate change and all.
Classic setup for Gooners to lose at Anfield today: gut check away game.
Liked Wenger’s shout out to Bowie, though.
Stu (41)-
All that energy wasted to make/maintain indoor ice…
In the Southern Tier today. Weather has been freakishly decent this winter. Almost no snow on the ground.
Boston sticks it to Conn (and NYC) again. It’s better on top
http://www.cnbc.com/2016/01/13/general-electric-to-select-boston-as-new-global-headquarters-report.html
#3 I feel pretty sheepish. However Pumpkin, what would you do? I am just doing nothing , not looking because I try and remember when I asked my father how he stomached this stuff for all these years, his answer was ” Many nights of fear”.
I’m buying!
47. That makes me feel better. I really don’t have the stomach for this like my father. He really had nerves of steel. Probably growing up in Utica, NY during the Depression. It made the man cold and never flinch. I mean a born card player. The whole family was into gambling. The difference is Dad got out of Utica and got into the Market and the rest died in Utica playing cards. Me I suck at all this stuff. I am way too soft. Sheepish as pumkin put it.
King Missle song is called Sensitive Artist. Its so funny
Apparently Al Gore’s old outfit has hit a rough patch. Who would have thought there was a lack of appetite in America for liberal content delivered by broadcasters in hijabs.
Al Jazeera America to Shut Down by April
http://www.nytimes.com/2016/01/14/business/media/al-jazeera-america-to-shut-down-in-april.html
[50]. nwnj
I found al jazeera to be reasonably balanced, sort of an overseas NPR but with a different outlook. As liberal slant went, CNN and MSNBC are far worse.
We shall see, but I think you are underestimating the American economy. Maybe I’m wrong, but the point I think you are missing is that this all part of cutting the fat out and leaning out the economy. We should see tremendous growth when they start dumping a lot of money into actual growth as opposed to cutting. Make no doubt about it, buying back stock is a sign of trimming fat. In times of growth, they will issue new shares to fund the new growth. It’s all building up my man, and with this unexpected cheap energy, this economy is going to blow up in a couple years. You will only see the negative aspect of cheap energy right now(short term in loss of production and jobs), but in time, you will see the positive impact……it’s straight up rocket fuel for the economy.
Juice Box says:
January 13, 2016 at 11:52 am
Pumps – It is mathematically impossible to make the public or private sector investments necessary to sustain our economic competitiveness while flushing away 4 percent of GDP year after year into Stock buybacks. New corporate investment in assets is at its lowest level in 60 years.
The game will be up once there are no more profits to boost the stock prices artificially. The firm I work for has taken over millions and millons shares off the market via buybacks and borrowed to do so just like Apple. Stock buybacks worth almost $2 trillion have helped buoy the bull market since the bottom in March 2009.
Once the expenses go up do to wage inflation, buybacks will go down and hense the markets down.
Place yer bets folks for 2016. my prediction for 2016 is down.
Just close your eyes and don’t worry about it. There is going be huge growth in the stock market during the 2020’s. During that period, you might want to cash out some, but you should be good to go for a long time. Just avg down during the downturns, they shouldn’t last long, meaning pure buying opportunities. For as much negative bs being thrown around about the American economy, it’s prob in the best position it has been in a long long time.
Marilyn says:
January 13, 2016 at 2:35 pm
#3 I feel pretty sheepish. However Pumpkin, what would you do? I am just doing nothing , not looking because I try and remember when I asked my father how he stomached this stuff for all these years, his answer was ” Many nights of fear”.
53, thanks.
54- “The U.S. is back in the driver’s seat of the global economy after 15 years of watching China and emerging markets take the lead.
The world’s biggest economy will expand by 3.2 percent or more this year, its best performance since at least 2005, as an improving job market leads to stepped-up consumer spending, according to economists at JPMorgan Chase & Co., Deutsche Bank AG and BNP Paribas SA. That outcome would be about what each foresees for the world economy as a whole and would be the first time since 1999 that America hasn’t lagged behind global growth, based on data from the International Monetary Fund.
“The U.S. is again the engine of global growth,” said Allen Sinai, chief executive officer of Decision Economics in New York. “The economy is looking stellar and is in its best shape since the 1990s.””
http://www.newsmax.com/Finance/united-states-economy-global-employment/2015/01/11/id/617806/
“If you ask the average American, he would be surprised to find out that the U.S. economy’s performance is best in class. But with the rest of the wealthy world growing even more slowly than America, and with the collapse in economic growth in China, that’s exactly what it’s become.”
http://fortune.com/2015/12/28/global-economy/
Meanwhile in other Pumps “economic recovery” news…
GoPro announces disappointing earnings, stock drops 25 percent after-hours, will layoff 7 percent of employees.
I should buy a gopro and livestream all of my tennis matches to the world.
What are people going to do with so much useless video?
Stock market today…
https://www.youtube.com/watch?v=rm0jdocOj30&feature=youtu.be&t=6
Hey…maybe JJ’s gone into medicine?
http://patch.com/new-jersey/montclair/doctor-nj-accused-drugging-patient-ejaculating-her-report-0?utm_source=alert-breakingnews&utm_medium=email&utm_term=police%20%26%20fire&utm_campaign=alert
Hey…maybe JJ’s gone into medicine?
http://tinyurl.com/doctor-jj
Gopro is in the final stage of the growth cycle of a company. They will get eaten alive by generic copy cats at this point in their growth cycle. I wouldn’t say their situation is a reflection of the economy, but of what happens with all business as they go through the growth cycle. Most die at this stage, a few reinvent themselves and hang around.
“The Turning Point
At some point after the company becomes well established, it will reach a turning point. Its business and market share may start to decline, requiring more investment if it is to retain its market share and profits. This could require equipment upgrades, remodeling or expansion. Imagine this as the time leading up to retirement. A person either stops working and enjoys a time where he has stability and maybe less income, or he pushes everything into investments, focusing on growing his wealth dramatically by using retirement savings to purchase rental properties or upgrading his home to increase the resale value. It is a time of tough pivotal decisions.”
Alex says:
January 13, 2016 at 6:36 pm
Meanwhile in other Pumps “economic recovery” news…
GoPro announces disappointing earnings, stock drops 25 percent after-hours, will layoff 7 percent of employees.
Stock market is def a roller coaster ride, but that’s how money is made in the stock market. It’s made on the swings. Each swing, someone loses, and someone wins. People panic sell, or try to time the market, and sharks with lots of powder come in and take their money every single time. You would think people would smarten up, but emotion and nerves do them in every single time. Other people thinking they are smarter than the market and just straight up greedy, think they can “time” the market and lose almost every time.
Apply that same madness to the housing market or mostly any other investment. Money is made on the swings, on the panics and the euphoria. Key is to buy in the panics and sell in the euphoria. Sounds simple, but emotional psychology and fear keep them from making this same mistake over and over again. Not many have the ability to buy when the sky is falling, or to sell when blue skies are flowing.
I learned my mistake with buying into the doom and gloom with sirius. Almost pulled the trigger on buying 30,000 worth at 10 cents, but my wife and I got subdued by the doom and gloom, and decided it was not worth the risk. Kick myself in the a$$ every time I think about that. Would have made over a million in a couple years. Makes me sick that I fell for the bs doom and gloom psychology. Missed a key pt to get ahead in my twenties. God knows what I would have turned that money into on that bull run in the stock market. Oh well, learned a valuable lesson.
I know I was about to buy Bear Stearns after those idiots sold at 65 down from over 100.
Intense.
http://www.npr.org/sections/health-shots/2016/01/13/462929457/how-a-little-boys-cancer-diagnosis-inspires-a-haunting-video-game