Category Archives: Housing Bubble

A shadow looms over New Jersey

Posted on December 11, 2010 by grim

From the New York Times: A ‘Shadow Inventory’ Dampens Winter Market NEW statistics provide a glum holiday-time snapshot of the real estate market: shrunken sales pace, bloated inventory and a “shadow inventory” of foreclosed homes looming menacingly in the background. … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble, New Jersey Real Estate | 199 Comments

No recovery until 2014/2015

Posted on December 8, 2010 by grim

From Reuters (hat tip Juice): At least 3 more years of housing troubles seen The housing market will remain depressed, with record high foreclosure levels, rising mortgage rates and a glut of distressed properties dampening the market for years to … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 162 Comments

‘Tis the season for vultures?

Posted on December 5, 2010 by grim

From the NY Times: For Home Buyers, a Season for Deep Discounts LOOKING for a deal in a down market? As winter sets in, the fruits of desperation — foreclosure sales, short sales, auction sales and deep discounts — are … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 87 Comments

October Pending Home Sales Explode! (Or Not!)

Posted on December 3, 2010 by grim

From Bloomberg: Pending Sales of Existing Homes in U.S. Increased a Record 10% in October Pending sales of U.S. existing houses unexpectedly jumped by a record 10 percent in October, indicating the industry at the center of the last recession … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 200 Comments

Case Shiller Day! (September home prices)

Posted on November 30, 2010 by grim

From the WSJ: S&P Case-Shiller: US Home Prices Fall In September, 3Q U.S. home prices dropped in September from a month earlier and the rate of decline showed signs of accelerating, according to the S&P Case-Shiller home-price indexes. Third-quarter prices … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 162 Comments

From Bonnie & Clyde to Ozzie & Harriet

Posted on November 29, 2010 by grim

From BusinessWeek: The Next Home Buyers: Ozzie & Harriet It’s an unsettling time to be shopping for a home. Home values have yet to stabilize in three-quarters of U.S. metropolitan areas. Alarm about so-called robo-signing of foreclosure paperwork has raised … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 89 Comments

New Jersey Contract Sales Continue Decline

Posted on November 23, 2010 by grim

From the Otteau Valuation Group: MarketNEWS – November 2010 The New Jersey housing market continued to experience weak purchase demand in October due to the lingering effects of the economic recession. In October, home purchase contracts in New Jersey for … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 162 Comments

“We still have a long way to go”

Posted on November 18, 2010 by grim

From the Record: Third quarter saw record foreclosures in N.J. A record number of New Jersey mortgage holders were either in foreclosure or late on their monthly payments during the third quarter, the Mortgage Bankers Association said Thursday. About 15.5 … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble, New Jersey Real Estate | 208 Comments

Do tighter lending standards make sense, or not?

Posted on November 17, 2010 by grim

From Bloomberg: Home Ownership Gets Harder for Americans as Lenders Restrict FHA Mortgages Home ownership may be falling out of reach for more Americans as lenders toughen their standards for Federal Housing Administration-insured loans beyond what the agency itself requires. … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate, Risky Lending | 129 Comments

Standard & Poors and Fiserv see additional home price declines on the horizon

Posted on November 15, 2010 by grim

From HousingWire: S&P predicts more home price declines through 2011 Standard & Poor’s analysts believe home prices will drop between 7% and 10% through 2011, erasing any improvements prices have recently made. Home sales, which plummeted after the homebuyer tax … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 200 Comments

Housing’s Handcuffs

Posted on November 12, 2010 by grim

From HousingWire: Recession forced homeowners to stay put, Cleveland economist says More homeowners are staying in their homes longer because of the struggling economy, according to Daniel Hartley, a research economist at the Federal Reserve Bank of Cleveland. Hartley cited … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 203 Comments

“Because in America, it’s far more shameful to owe money than it is to steal it.”

Posted on November 11, 2010 by grim

From the Rolling Stone: Matt Taibbi: Courts Helping Banks Screw Over Homeowners The foreclosure lawyers down in Jacksonville had warned me, but I was skeptical. They told me the state of Florida had created a special super-high-speed housing court with … Continue reading →

Posted in Foreclosures, Housing Bubble, National Real Estate | 180 Comments

“The length and depth of the current housing recession is rivaling the Great Depression”

Posted on November 10, 2010 by grim

From Portfolio: Housing: Bleaker, not Better Talk about bad news for the thousands of small businesses and entrepreneurs dependent on housing and the millions of others indirectly affected by the housing market. In Zillow.com’s latest survey on the state of … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble | 167 Comments

“[I]n the end it comes down to supply and demand.”

Posted on November 9, 2010 by grim

From CNBC: Three F’s in Housing Spell Trouble Now that we’ve gotten the Q3 reports from Fannie, Freddie and the FHA, the picture of housing’s future is becoming ever clearer. The combined Real Estate Owned (REO) inventory of the three … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 148 Comments

Fitch: 40 months to clear shadow inventory, home prices to fall additional 10%

Posted on November 2, 2010 by grim

From HousingWire: Foreclosure shadow inventory will take more than 40 months to clear: Fitch The shadow inventory of delinquent loans, foreclosures, and REOs stands at 7 million homes, which would take the market more than 40 months to clear, more … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 136 Comments