mkttrdr

How Bloomberg Fabricates U.S. Housing Numbers

Now that's what a reporter should do.
Great job again Jeff.
The truth hurts but at least we are alive and can deal with it.
20 Million homes that no one pays property taxes on!
Stew on that.

Fantasy Housing Numbers a Prelude to the Next U.S. Crash

Are you asking me personally?
It sounds like moi.


On Oct 28 05:06 PM gnosis988 wrote:

> Talked to a business partner who is deep in the real estate business,
> works with banks, escrow companies, etc. Confirmed that banks are
> holding onto millions of foreclosed units and not releasing them
> into the market. They know it would flood the market and cause a
> collapse. But new accounting rules do not require a mark to market,
> so they hold it... but early next year, they will have no choice
> but to start releasing some of the units. Many of these are from
> conforming loans in better neighborhoods.

Fantasy Housing Numbers a Prelude to the Next U.S. Crash

IRS requires no documented proof for this credit. NO proof of a home purchased!
Just fill out a form. Yep, i'm a 1st time buyer; Get your credit-but only if you pay taxes and income is within a certain range!
Fantasy?


On Oct 28 11:53 AM Living4Dividends wrote:

> Caveat:
> The only thing they have done for homeowners is a $8000 credit. It
> is very restrictive. You only get it if you are a new homeowner,
> etc, etc. It does not help existing homeowners (unless they sell).
>
>
> $8000 for a $160,000 house is 5% of the purchase price
> $4500 for a $18,000 car is 25% of the purchase price.
>
> According to the government, cars are more important than houses.
>
>
> When the banks foreclose on the houses, the people can sleep in their
> shiny brand new cars.

Fantasy Housing Numbers a Prelude to the Next U.S. Crash

Great details Jeff.
The truth hurts!
I was not happy to tell many of these facts to my local business network, Realtors and NAR members in a meeting back in 2004 before this mess started. The majority said Im nuts and don

Housing Is Moving Towards Disaster

Thanks John.
2010 will be another big year for more of the same...Foreclosures, REO's , short sales and BPO's. That's good for my businesses, but bad news for Americans. No one seems to know the market or its price and when the bottom hits. 2015 is my target; 2 years of current inventory, more coming(banks have been holding back), owners and economy struggling, government intervention and a 17% real unemployment take time to turn around.

Are we, the taxpayers.... buying the garbage loans on the books; where are those bank loses? That too is coming. Plus, the credits to 1st time homeowners who have no idea of the ownership responsibilities, makes me believe that 15% of those will be delinquent. Half of that will be future foreclosures and short sales.

Ah, the Kids are in school now, so most of the buying is in for 2009...and a long winter is around the corner. Hey, we are getting older too; so some of us (myself included )wonder, are the 2nd homes (3rds etc) worth the holding costs? And you thought that having your mortgage paid off was a good idea! Good luck getting the equity line or a cash out refi. Expect more of the same for years to come.

U.S. Homeowners Underwater

Thanks for the confirmation, Tom and SA.

This adds proof that this downturn is far from over. Consumer debt and housing were the bubbles, now it's up to the consumer to carry us out by spending more on goods and services(70% of gdp). I Just don't see that happening when you have high unemployment, credit strap citizens, lack of equity and little savings, an aging population, taxes and fees everywhere etc... The printing of money and the creation of more debt will bite us back in the end.

The Diminishing Value of Home Appraisals

Smart and true-thanks notsofast.
Lenders are now in charge-ha. Why they didn't manage money before 2008 was crime thrust upon us. Due to the oversight now, Lenders are tight and control the money flow. FHA will request all repairs be done before closing. Cash is king!


On Jul 28 11:01 AM notsosmart wrote:

> UNLESS THE BUYER HAS ALL CASH HE HAS TO HAVE A MORTGAGE.SO THE LENDER
> CALLS THE SHOTS-NOT THE BUYER OR SELLER.

Why Housing Hasn't Bottomed Yet

Bottoms occur when demand is equal to or greater than (its)supply.
Until then-this is all hot air and smoke and mirrors.
More downside to come in housing.

Are Loan Modification Programs Working?

Time is not on your side when a foreclosure is pending.
Mods -hmm-only save less than 5% in our market. That means an owner has good credit, a solid home w/equity in a good area and a secure job(in health care) and current or less than 90 days late. Odds are not good folks.

The big problem is on the backs of those paying the mortgage. Give them the a 3% reward for paying on time. But,They are losing equity everyday, yet taxed more-for less. How: Lenders refuse to take title on many pending foreclosed homes leaving it to the defaulted owners who bailed. So, now the cities and states; which are near bankrupt must foreclose/raze the junkers. Increased taxes are the citites answer, but there are fewer homes/owners to be taxed and the equity piggy bank continues down! More homes go on the market etc....
Lenders are just letting wall st and DC see better numbers-the losses are coming folks-just not this year.

Therefore, home values will continue to fall, causing more hardship foreclosures next year, and thus any loan mods will fail due to continued loss of home values, more future layoffs etc....

Is there anyone out there reading the tea leaves or in the streets dealing w/ foreclosures like myself? Am I a loan(sic) here?
At least I can tell you the truth-like it or not.

Housing: Barron's Calls a Bottom

Many good comments here, but Dusty is right and Tim is wrong.

Most Vegas buyers are speculators from across the pond. Why buy in Vegas when you can rent or get deals from the hotels on the strip.

Yes, people will always buy for needed shelter if the banker gets some of the "skin"off the borrowers backs.

We buy and sell everyday with 20% down-and don't see this price decline ending for at least 3 more years. Then it will be flat for a year or two until the economy picks up steam.

What and when will a need be created to encourage growth in the economy again?
The only things to carry the cycle is survival-food, shelter, water, transportation and comfort. If you have assets and control your own destiny-great.

Waves are not V shaped they go up and down in a U shape-the market is no different.

Therefore, this has been a bear market rally in both stocks and real estate going back to the 1999 crash. The usual cycle for bull or bear markets run 17 years on average.
How long do you think this wave will last?
2012 is the start of an upswing in both!
Hang on until then.