Top Metro Real Estate Markets By Metro Area

| August 30, 2016

In its latest survey, Case Shiller pointed out that “home prices continue to appreciate across the country”, at just over 5%, a pace that has held since early 2015. The chart below shows the Metro Area markets in the United States.  At the bottom we see Cleveland, Washington and, the worst performer of all, New […]

Home Ownership Is On A Slippery Slope, But Home Prices Continue Higher!

| June 6, 2014

Home ownership in the United States has now fallen for 8 years in a row, and dropped to the lowest level in 19 years! To make matters even more interesting, almost 50% of all houses have no mortgages. This is an all time record up from 33% back in 2007-2008. Who is it then, that has […]

New Hidden Taxes Target The Rich

| November 14, 2013

We’ve been saying that the rich are going to make themselves into colorful targets for new hybrid taxes, click here to read about it, (I’m Smarter, That’s Why I’m Richer Than You…), so here we go….they’re just getting started with the hidden tax trickery! Luxury real estate broker Ron Aioso says there is a tax that is […]

A Travesty Of Grandiose Proportions

| October 27, 2013

Never before has the world seen such disparity of wealth between rich and everyone else.  Out comes the pen and off goes another letter to our worthless Congress.  Will they even read it? John Maudlin, in his new book Code Red, (to be released on Monday, Oct. 28) reviewed the latest key figures concerning record wealth disparity, and it’s a […]

Meet The Real Estate Housing Market “Vampire REOs” Where Many Americans Live Mortgage-Free

| October 3, 2013

Zero Hedge is just out with this interesting article concerning the housing markets and what they call artifical price gains. Yeh, we agree, the whole free market system has been rigged in one way or another since 2009. ZeroHedge: Concerning Foreclosure stuffing. We explained this scheme by banks to limit the amount of available for sale […]

Housing “Recovery” Showing New Cracks, This One Will Expand!

| October 2, 2013

Wise Dog Sources: “We know from experience that if Carlyle Group is a seller (of anything), then you’ll want to be a seller also.  Yes, they are that good.”   “They buy wholesale, and sell retail or above. There’s no meat left on the bone when they’re done!” Via Bloomberg, Carlyle Group LP, the private-equity firm with more […]

The China Plan…In Gold We Trust

| August 25, 2013

The China plan would look to eventually back the Chinesse Renminbi currency with Gold, creating a direct trading challenge to the U.S. Dollar. Russia’s Putin has in the past hinted at something similar for the Russian Ruble! Chinese Gold Imports – China Imports 104 Tonnes of Gold in June China just imported 104 tonnes of […]

New Home Sales Fall To Lowest Level Since Last October While Builder Confidence Rises To Its Highest Level Since November 2005, No Typo, 2005!

| August 23, 2013

So, it’s said by a number of Realtors that interest rate spikes don’t matter to home buyers….um, maybe they should rethink that idea? Yep, maybe rethink it twice! Purchases of new U.S. homes  plunged in July by the most in more than three years while previous month saless were revised down.  Housing in July showed that a […]

U.S. Housing Rents Hit Record Highs As Homeownership Falls To 18 Year Lows!

| July 30, 2013

Never say things can’t get worse… Murphys Law says otherwise. According to the latest quarterly homeownership data released by the Census Bureau, the raw homeownership rate of 65.0% was unchanged from last quarter and 0.4% lower than a year ago. And on a seasonally adjusted basis the percentage of Americans who have a house declined […]

Housing and Household Incomes

| May 6, 2013

Hmm….Courtesy of our good friend Gene Inger. www.ingerletter.com

Home Ownership Rates Continue To Fall

| April 30, 2013

The US Census Bureau reported earlier today that the US homeownership rates in the first quarter of 2013 dropped by 0.4% to a new 18 year low.  It now sits at 65% which is it’s lowest rate since 1995! www.zerohedge.com

Eminent Domain For Underwater Mortgages Is A Very Bad Idea

| June 29, 2012

The use of Eminent Domain to rewrite underwater mortgages would be catastrophic to the future of the housing industry.  It would guarantee that private capital would have no interest in writing future loans for property that could be seized.  Any idea that has no homeowner skin in the game should be dead on arrival! Officials in San Bernardino […]

Ding Dong…Sometimes They Really Do Ring A Bell At The Top!

| June 11, 2012

Fed Says U.S. Wealth Fell 38.8% in 2007-2010 because of Housing….Duh! The financial crisis wiped out 18 years of gains for the median U.S. household net worth, with a 38.8 percent plunge from 2007 to 2010 that was led by the collapse in home prices, a Federal Reserve study showed. Median net worth declined to $77,300 in […]

Farmland Is Golden

| May 27, 2012

 Bruce Krasting The real estate crisis has crushed many Americans, but not the farmers. Arable land is at the highest value in history. Prices were up 20% in both 2010 and 2012. In the past ten-years, farm land values have more than doubled. www.zerohedge.com

Homeownership Rate Falls To Lowest Since 1997

| April 30, 2012

And it’s likely to go even lower over the next few years!   The ownership rate may drop below 64 percent by the end of 2015 and stay there for years, said Scott Simon, the mortgage bond head of Pacific Investment Management Co. “It will be lower by 2017,” and “It will be lower in 2020.” The […]

Falling Home Prices Drag A New Wave Of Buyers Under Water

| April 27, 2012

Why are we not surprised?  Maybe because the government sponsored mortgages only require less then 3% down!  Hmm. From (Reuters) ….. More than 1 million Americans who have taken out mortgages in the past two years now owe more on their loans than their homes are worth, and Federal Housing Administration loans that require only a […]

Mortgage Applications Look Ugly

| March 21, 2012

Not so good for mortgages…the Average 30 year fixed rate soared to 4.19% from 4.06% last week, while the refi percent of loans dropped to 73.4% – the lowest since July 2011. The latest MBA Mortgage Application data was just released and it was ugly. The broad Mortgage Application index fell by 7.4% in the week ending March […]

Just In: The Latest Housing Data From CoreLogic

| March 1, 2012

Housing Tid Bits….. The latest quarterly report out of CoreLogic is full of insights about the state of U.S. housing. Key among them is that “negative equity and near-negative equity mortgages accounted for 27.8 percent of all residential properties with a mortgage nationwide in the fourth quarter, up from 27.1 in the previous quarter. Nationally, the total […]

Looks Like Quicksand…But It’s Really Quickcement

| February 29, 2012

So, how do we do it…deleverage we mean? Uh, well, we need to spend less on cars and gas, and food, and housing and…healthcare, and buy less other things, and save more – oh, sorry about that last one, nothing left to save….. From Today’s Bloomberg Brief: The slow pace of deleveraging will continue to weigh on growth over […]

Case-Shiller Real Estate Prices Continue To Fall Even With Record Low Interest Rates!

| February 28, 2012

There is no housing recovery as of yet….that according to Case Shiller. The Case Shiller housing index just showed a 8th consecutive month of home price declines. During this time we’ve had one of the most favorable winter buying periods ever, caused by favorable weather conditions accross the United States with one of the warmest winters on record (other then in Alaska). And let’s not forget the record low interest rates on mortgages. Anyone […]

And the Excitment Grows, But Over What!

| February 24, 2012

Wow…every one’s celebrating like it’s 1999, but it isn’t…try 2012? And…we continue to see record lows of Completed Houses for sale.  Anyone still want to celebrate about this? www.zerohedge.com

Consumer Confidence Continues To Rise

| February 24, 2012

We wouldn’t call this a surprise. Judging from the waiting time at the local restaurants, people are in a spending mood….and to boot we see a lot more construction going on, especially in light of a huge commercial and housing overhang.  Confidence among U.S. consumers rose in February as Americans continued more hopeful about economic growth. The Thomson Reuters/University […]

Housing Busts

| February 21, 2012

 A picture is worth a thousand words….

Federal Reserve Chairman Bernanke Talks About Real Estate Today

| February 10, 2012

Many parts of our economy now seem to be controlled (rigged) by the government.  If  housing would have been left alone, then things could have been cleaned up by now and a true bottom might have been reached, but instead this mess will drag on for years to come much like Japans nightmare! Federal Reserve Chairman Ben S. Bernanke said the […]

One Man’s Pain, Is Another Man’s Gain! Well, Maybe…

| February 7, 2012

Bank of America Plaza, the tallest tower in the U.S. Southeast, was sold at a public auction today on the steps of the Fulton County Courthouse after landlord BentleyForbes missed its mortgage payments.  It was purchased for $436 million back in 2006, but off she goes for $235 million here in 2012.  The noteholder had a winning bid […]

Case Shiller: Real Estate Home Prices Continue To Head Lower

| January 31, 2012

More of the same…as personal income falls or flat lines, real estate will continue on a slippery slop. With record low interest rates, people, unlike in past recessions, still carry near record high amounts of debt. It is not indicative of a housing rebound. De-leveraging will continue to be a rage, unbeknown and not understood by most. The November […]

Special Tax Relief On Mortgage Debt Forgiveness Ends December 31 Of 2012

| January 29, 2012

Pay attention everyone, we review important details here that could save you or a friend lots of money on real estate debt forgiveness!  Didn’t know there was such a thing?  Well read on….  From the Los Angeles Times Reporting From Washington— The window is closing rapidly on one of the most important tax-relief provisions enacted […]

Listen Up Class, We Have More On Housing And It’s ‘Worth’ Your Attention, Pun Intended

| January 28, 2012

According to Freddie Mac, while the value of all housing is down 30%, and home equity is down 55%, we see that mortgage debt owed is only down a minestrone 3%. Bottom line, the U.S. housing market is back to the Armageddon high debt-to-equity ratio that was only ever seen during the Q1 2009 economic wipe out, and even worse, we […]

Delinquent Homeowners Get Free Money

| January 27, 2012

Yep, that’s right, if you are a responsible paying citizen you get nothing, but as the The Three Stooges would say, a poke in the eye….we know, yes there are families that really need the help for legitimate reasons, but much of this involves a reward for greed, and irresponsible actions. Oh, how times have changed! The HAMP expansion, called HAMP […]

2011 New Home Sales Fall To Record Low

| January 26, 2012

Negative demographics as far as the eye can see. and it’s reflected in the median price for new homes, which just dropped from $215,700 to $210,300. According to the Census Bureau (not NAR data), December New Home Sales declined from 321K to a seasonally adjusted annualized rate of 307K in December, on expectations of a rise to […]

Todays Economic Data Points

| January 19, 2012

Same old same…..things are getting better, but are they really?  Yes they are, but in 2008 we stopped on a dime. The Federal Reserve looks to be worried about deflation. We all should be too! Initial Claims: Initial claims drop from revised 402K (as expected) in last week, to 352K this week, 50K swing in one […]

Demographic Poop

| December 29, 2011

Here is one of the reasons for slow world growth dead ahead, and from the looks of things, it will last a long long time!  The baby boomer generation was the last of the demographic growth cycles and that was back from the 1950’s thru the 1970’s.  Now the baby boomers are debt ridden as they enter retirement age, […]

The National Association Of Realtors Has A History Of Not Being Truthful

| December 22, 2011

NAR proving what most everyone knew:………. the sales numbers are inflated. NAR: EXISTING U.S. HOME SALES REVISED DOWN BY 14% FROM 2007-2010 NAR: EXISTING HOME SALES REVISED DOWN BY 15% IN 2010 TO 4.19 MLN

Government Morons…Unbelievable, Simply Unbelievable!

| December 18, 2011

Extend and pretend, benefit extentions looked all set to go….but not so fast, they may not get approved after all.  On Sunday House Speaker John Boehner flatly ruled out approval of a Senate agreement to temporarily extend the payroll tax cut through February.   But,  Senate Majority Leader Harry Reid (D., Nev.) said if Mr. Boehner rejected the Senate […]

Fannie Mae And Freddie Mac, The Turd In The Punch Bowl

| December 16, 2011

Uh, so how do you underestimate your sub-prime loans number by 238 billion dollars from 2006 to 2008 and then allow yourself nice bonuses off those false numbers.  Lucky for us tax payers some of those bonuses were clawed back’ by the government.  Anybody out there think these guys missed the numbers by accident?  No, it was no accident!  […]

Housing Heading Down Again, While Interest Rates Are At Record Lows

| November 29, 2011

CASE  SHILLER HOUSING MAIN POINTS: 1. The Case-Shiller 20-city house price index declined by 0.6% (month-over-month, seasonally adjusted) in September, a larger drop than expected by the consensus. Estimates for earlier months were also revised lower. On a year-over-year basis, prices were down 3.6%. The seasonally adjusted version of the index fell to a new […]

Corporate Returns Are ‘Terrific’ As U.S. Workers Suffer Big Time

| November 15, 2011

From the master himself,  Warren Buffett…“Through the tax code, there has been class warfare waged, and my class has won,” Buffett said. “It’s been a rout. You have seen a period where American workers generally have gone no place, and where the really super rich as a group increased their incomes five for one in […]

Bonus Time! But It’s Really Bone Us, The Tax Payers!

| November 15, 2011

This is almost too ridiculous to review…….Nearly $100 million of tax dollars went to lucrative pay packages for top executives at (almost bankrupt) Fannie Mae and Freddie Mac, filings show. Geez  The latest cost estimate from FHFA is that the two bailouts will end up costing taxpayers about $124 billion through 2014, though that figure […]

Fannie Mae Says It Needs Another $7.8 Billion

| November 8, 2011

It’s the gift that keeps taking…. Fannie Mae has now borrowed $111.6 billion from the government, and paid back a mere $17 billion in forced dividends. Freddie Mac has taken more than $71 billion in aid and paid back around $15 billion. The net cost to the taxpayers for bailing out both now stands at […]

Our Only Question Is: Why Is This So Hard To Understand?

| November 3, 2011

Some sobering thoughts from Caroline Baum, author of “Just What I Said”.  She is a Bloomberg News columnist (the opinions expressed are her own). Why is so much energy being directed, or misdirected, at housing? Wouldn’t those efforts be better spent charting a sound course for the overall economy rather than targeting a specific sector? For […]

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