Buying And Selling: Seesaw Sales
Published Thursday, June 22, 2006 by Real Estate Pro."A lot of consumers have been having affordability problems, which is why a lot of them have been taking out ARMs," said Chen. "But with ARM rates rising, fewer people have been able to afford a home, which was also behind last week's decline in applications."
Note the fact that things are still considerably less than sunny in South Florida, and you can get the picture.
Tagged: [existing_link:52351b262f7acf5f246b105ff23f9855]
Buying And Selling: Seesaw Sales
Housing Market: Crying Wolf
Published by Real Estate Pro.Here's a line that's worth noting: Fed officials are counting on a slowing U.S. housing market to keep the economy from overheating -- and there have been numerous signs a long housing boom is simmering down. But as long as short-term-minded developers keep churning out hyper-expensive McMansions, prices will have to drop in the long run, because eventually, there will simply be too much inventory to make value of anything.
Tagged: Bubble
Housing Market: Crying Wolf
Housing Market: The Gathering of the Fed
Published Wednesday, June 21, 2006 by Real Estate Pro."One does not just raise rates at the Fed...."
Why do I get the feeling that Bernanke spends most of his days at his desk saying stuff like, "Greenspan, what a mess you've left me with... This trend, along with its sibling "workforce housing," may be the spearheads we need to build affordable, mixed-income housing that will reenergize middle-class buyers and get them back into the post-bubble market.
Tagged: [existing_link:52351b262f7acf5f246b105ff23f9855]
Housing Market: The Gathering of the Fed
Friday Housing News: Riders On The Bubble
Published by Real Estate Pro.Dana Dratch over at Bankrate advises nervous homeowners how to tame the mighty bubble.
My question for the legions of bubble riders would be this: Since the bubble is breaking into little "bubbletes," which markets will survive intact, and which will crash? Because as we all know, if you have to ask, you can't afford it...and right now it's looking like even formerly mid-range and low-end properties are falling into that category.
Tagged: Bubble
Friday Housing News: Riders On The Bubble
Housing Market: Watching David Lereah
Published Sunday, June 04, 2006 by Real Estate Pro.The mighty Bubble Meter has recently launched David Lereah Watch, a blog dedicated to upending the worm-infested rock upon which Mr. Lereah prognosticates like the Thinker.
He thinks the trend crested in 2005. With rising interest rates, tighter lending standards and slower price appreciation, Lereah expects second-home sales to drop this year to 30 percent of all existing-home sales, and maybe into the 20 percent range.
Tagged: Bubble
Housing Market: Watching David Lereah
Demand For Home Loans Drops 5.5%
Published Wednesday, May 17, 2006 by Real Estate Pro.Reuters reports a drop in mortgage applications: Mortgage applications fell for the first time in three weeks, as a near four-year high in interest rates dissuaded consumers from taking out loans, an industry trade group said Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity for the week ended April 7 fell 5.5% to 579.4 from the previous week's 612.8.
Tagged: Bubble
Demand For Home Loans Drops 5.5%
Stat Correlation Of The Day: GDP And New Housing Starts
Published Sunday, May 14, 2006 by Real Estate Pro.Calculated Risk
Kasriel takes the Rosenberg analysis one step further by plotting the quarterly average observations of the year-over-year change in economic growth against the year-over-year change in new-home sales, which he then advanced by three quarters.
Calculated Risk says New Home Sales is one of my favorite leading indicators of future economic activity.
Tagged: Bubble
Stat Correlation Of The Day: GDP And New Housing Starts
Buying and Selling: Housing Bubble Goes Mainstream
Published Saturday, May 13, 2006 by Real Estate Pro.When media sources ranging from the fast-food news of USA TODAY to the so-far-right-it-has-whiplash Weekly Standard are discussing the housing bubble in real, honest terms, you know for certain that it's arrived. As gleeful as I am to see all the "market never goes down" types get their just desserts (Would you like cherries with that, David Lereah?), we can't forget that these are real people, suffering real problems.
Tagged: [existing_link:52351b262f7acf5f246b105ff23f9855]
Buying and Selling: Housing Bubble Goes Mainstream
Housing Market: Watching David Lereah
Published by Real Estate Pro.The mighty Bubble Meter has recently launched David Lereah Watch, a blog dedicated to upending the worm-infested rock upon which Mr. Lereah prognosticates like the Thinker.
He thinks the trend crested in 2005. With rising interest rates, tighter lending standards and slower price appreciation, Lereah expects second-home sales to drop this year to 30 percent of all existing-home sales, and maybe into the 20 percent range.
Tagged: Bubble
Housing Market: Watching David Lereah
Freddie Mac Sees A 'Cooling Market'
Published Friday, May 12, 2006 by Real Estate Pro.The April 2006 Economic Outlook from Freddie Mac is upbeat on housing, but signals skepticism about the issue of housing affordability in the West (Welcome to my nightmare): The cooling housing market in 2006 will deflate some of the affordability pressures as house price growth moderates to the single digits. The lingering question is whether affordability will increase in the West and job creation will return to the Midwest.
Tagged: [existing_link:52351b262f7acf5f246b105ff23f9855]
Freddie Mac Sees A 'Cooling Market'
Homeowners Are Strapped, Glued and Screwed
Published by Real Estate Pro.In case you're wondering how "personal savings" is defined, the BEA explains it here : Personal saving is the amount left over from disposable personal income after expenditures on personal consumption, interest, and net current transfer payments. If expenditures on personal consumption, interest, and net current transfers exceed disposable personal income in a quarter, personal saving will be negative.
Tagged: Bubble
Homeowners Are Strapped, Glued and Screwed
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Last posts
- Buying And Selling: Seesaw Sales
- Housing Market: Crying Wolf
- Housing Market: The Gathering of the Fed
- Friday Housing News: Riders On The Bubble
- Housing Market: Watching David Lereah
- Demand For Home Loans Drops 5.5%
- Stat Correlation Of The Day: GDP And New Housing Starts
- Buying and Selling: Housing Bubble Goes Mainstream
- Housing Market: Watching David Lereah
- Freddie Mac Sees A 'Cooling Market'