thestatedtruth.com | 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 […]
thestatedtruth.com | 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 […]
thestatedtruth.com | 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 […]
thestatedtruth.com | 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 […]
thestatedtruth.com | September 8, 2011
The U.S. Fed doesn’t get it, stimulus won’t work, they’re addressing the wrong things here….we have “structural issues and they require structural solutions.” Ei-Erian Pacific Investment Management Co.’s Mohamed El-Erian said the U.S. faces “serious” economic challenges, including lagging housing and labor markets, that will prove resistant to Federal Reserve stimulus efforts. “You simply can’t […]
thestatedtruth.com | June 22, 2011
Considering that we’re in the summer buying season, this is bad news….. Purchases of existing homes fell 3.8% in May from the prior month to an annual rate of 4.81 million homes. At that pace, sales this year would drop below last year’s 13-year low of 4.91 million. At the same time, the price of […]
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 | 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 […]
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