thestatedtruth.com | March 21, 2011
Sales of U.S. previously owned homes dropped more than forecast in February and the median price dropped to $156,100 from $164,600 one year ago. Â Sales of U.S. previously owned homes dropped more than forecast in February and the median purchase price declined to the lowest since the same month in 2002, indicating the housing market […]
thestatedtruth.com | February 24, 2011
Does anyone really think there is a recovery going on! ” Less than 500 homes sold in the over $750,000 and only 19k total new homes were sold. The lowest monthly total ever. (and of the 19K, 53% were vacant lots or under construction). “Sales of new single-family houses in January 2011 were at a seasonally […]
thestatedtruth.com | January 7, 2011
Uh….so will this really matter, other then the banks paying a bunch of lobbyists another billion dollars to fix things? Inquiring minds want to know! Wells Fargo & Co. and U.S. Bancorp  lost a foreclosure case in Massachusetts’s highest court that will guide lower courts in that state and may influence others in the clash between […]
thestatedtruth.com | December 28, 2010
So, just wondering why this is such a surprise to the media types……Incomes are down (based on taxes paid) according to Trim Tabs, and home ownership maintenance expenses are rising across the board, including real estate taxes. The baby boomers are net sellers, not buyers. The middle class is being squeezed. The demographic economic model is to downsize […]
thestatedtruth.com | December 7, 2010
A report out of RealtyTrac talks about “the new normal” thinking! Two-thirds of mortgage holders said they would consider trying to modify loan terms if they couldn’t afford their payment, Trulia and RealtyTrac said. Almost half would think about halting payments altogether if their home value fell below the loan amount. Mounting foreclosures and an unemployment […]
thestatedtruth.com | December 2, 2010
Let’s dig a little deeper on this subject…..Here’s what Bloomberg had to say about this morning’s reported jump in pending home sales (signed sales agreements). 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 is stabilizing as the job […]
thestatedtruth.com | December 2, 2010
The other shoe is dropping in real estate. The banks have a lot of inventory to sell, so this will take a while! Sales of existing homes, which make up more than 90 percent of the market, declined more than forecast in October amid the foreclosure moratoriums and the absence of the tax credit of as […]
thestatedtruth.com | November 30, 2010
Buy back mortgage contracts are getting interesting. It looks like a cat fight just starting…… You don’t think the banksters want to own that crap they sold to Fannie and Freddie do you? They thought it was a free ride. But now it doesn’t look so free……The expected amount so far refused exceedes $120 billion. This […]
thestatedtruth.com | November 24, 2010
The October median new home price of $194,000 was the lowest recorded by the Census Bureau since the market peak.
thestatedtruth.com | October 30, 2010
This article from the Wall Street Journal:   No matter how you slice it, the housing market faces almost nine years of foreclosure hangover. That means materially lower prices are likely from here with a chance we fall off a cliff when (not if) the next economic dislocation shows up.  October 30, 2010  By Mark Whitehouse 107: Is […]
thestatedtruth.com | October 8, 2010
Recently J.P. Morgan Chase, Bank of America and Ally Financial have temporarily halted foreclosures in 23 states due to flawed affidavits used in legal proceedings. Now Bank of America has expanded this halt to all 50 states, while PNC Financial Services said it was stopping foreclosures in 23 states for a month. Banks insist the problems are administrative and […]
thestatedtruth.com | October 7, 2010
President Barack Obama won’t sign legislation that critics said would have eased the way for banks to process home foreclosures, his spokesman said. The bill would have required courts to recognize notarizations across state lines, including electronic signatures. White House press secretary Robert Gibbs said the administration was concerned about the potential impact on home […]
thestatedtruth.com | September 22, 2010
Next up….Currency evolved hyper inflation caused by the Fed’s actions to save the world, as the dollar becomes worth much less and commodities without debt attached go vertical (such as food, gold, silver, farm land etc.).  The only real question seems to be when, not if.  In the U.S. we are trying to work through the legacy of accumulating lots […]
thestatedtruth.com | September 20, 2010
“An incredible 14% of the nearly 54 million first liens in the country are now either delinquent or in default” the Real Estate Channel’s Keith Jurow, observes. “To come up with a total for the shadow inventory, let’s first add the total number of loans in default to those delinquent 90 days or more since […]
thestatedtruth.com | September 18, 2010
By Gary Shilling Consumers Go On Strike It wasn’t until late 2008 that we had the collapse in home equity as house prices nosedived (Chart 2), rising layoffs (Chart 3) and the drying up of consumer lending drove consumers into retrenchment. But they suddenly went on a buyers strike in the last four months of 2008, […]
thestatedtruth.com | September 16, 2010
U.S. home seizures reached a record for the third time in five months in August as lenders completed the foreclosure process for thousands of delinquent owners, according to RealtyTrac Inc. Bank repossessions climbed 25 percent from a year earlier to 95,364, the most since the Irvine, California-based data provider began keeping records. “We’re on track […]
thestatedtruth.com | September 15, 2010
Bloomberg     09-15-2010 The slide in U.S. home prices may have another three years to go as sellers add as many as 12 million more properties to the market. Shadow inventory — the supply of homes in default or foreclosure that may be offered for sale — is preventing prices from bottoming after a 28 percent […]
thestatedtruth.com | September 11, 2010
FDIC’s Bair Warns of Government “Exposure” in Mortgages WASHINGTON (Reuters) – A key U.S. banking regulator raised concern on Wednesday about the risk of “exposure” the government is taking on in the mortgage market and urged more stringent standards for underwriting mortgages. “We should all be concerned about the type of exposure that the government […]
thestatedtruth.com | September 10, 2010
 More: http://www.moneytalks.net/images/stories/August_26/Psychological-Stages-of-a-RE-Bubble-Market1.png
thestatedtruth.com | September 9, 2010
Shifting Demographics A factor affecting demand is shifting demographics. The Baby Boomer generation is no longer the consumption engine it has been to the US economy.  We have a generation that, as has been predicted for some time, is reducing its expenses but it may be even more dramatic than forecasted. With home housing […]
thestatedtruth.com | September 8, 2010
After two months of moderated growth in delinquent loans backing commercial mortgage-backed securities (CMBS), the delinquency rate in August increased 21 basis points to 8.92%, according to the analytics firm Trepp. It’s an increase from the 8.71% measured in July and another new record. The August delinquency rate is more than double the 4.03% rate […]
thestatedtruth.com | July 23, 2009
Through March of 2009, banks had taken only $1.1 trillion in write- downs to date. Even the most conservative estimates put total credit losses at $2.2 trillion. Tilson and Tongue make a convincing case that the losses will be far worse than that – more like $3.8 trillion. And these numbers have only grown over time. […]
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