A research report by the Federal Reserve Bank of New York finds that amateur real estate investors were more to blame for the housing bubble in markets in California, Nevada, Arizona and Florida than was previously thought. More than one-third of the mortgages granted in 2006 went to people who owned more than one house. [...]
Posted on August 26, 2011 in
housing news with
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In a town hall meeting in Atkinson, IL the week of August 15, President Obama indicated that the federal government has done about all it can do to ease the housing crisis. It will take more than federal government effort to turn the housing market around. He implied that it was now the turn for [...]
Posted on August 23, 2011 in
california,
commercial real estate,
georgia,
housing news,
illinois,
kansas,
massachusetts,
minnesota,
missouri,
new york,
ohio,
pennsylvania,
texas with
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The Federal Reserve’s Beige Book documents quarterly changes in major economic condition in each Federal Reserve district. The summary indicates little change in the housing market from region to region over the past quarter. Those districts that reported on home prices reported them as flat or declining. The Boston and Richmond Districts reported steady prices, [...]
Interesting news for people buying investment properties. The May data for the Case-Shiller Home Price Index was released July 26 and shows reason for cautious optimism that prices are at, or close to, the bottom in most markets. May was the second month in a row with price increases on both the 10 and 20 [...]
In an appearance before the Senate Banking Committee last week Ben Bernanke made it clear that a 3rd financial easing is not likely in the near term because, frankly, it would do little good. A few days before he had hinted that QE3 might actually be on the way. He also gave a nod to [...]
A CNNMoney report indicates Fannie Mae has measured the number of people who would consider walking way from their mortgage in a strategic default at 27% this year compared to the 15% who responded favorably to strategic default in the past. Experts speculate that the approval rating for strategic default has gone up for several [...]
Real estate investing news: Wall Street is preparing for the end of the economic easing that the Federal Reserve Bank has called QE2. The Fed has said that it will end the current buying of Treasury securities as part of the $600 billion economic easing program at the end of June as originally scheduled. Most [...]
Lenders Willing to Pay $5 Billion to States The Attorneys General of the 50 states have met again with the 14 lenders and servicers to try to settle the issues brought up in the foreclosure documentation scandal that surfaced last fall. Lenders have made it known that they are willing to pay up to $5 [...]
Posted on May 9, 2011 in
economy,
housing news with
no comments
The nation experienced the first rise in unemployment since November with the publication of April’s figures. The Labor Department reported that unemployment rose from 8.8% in March to 9.0% in April.
Former Federal Reserve Chairman, Alan Greenspan, delivered a major speech on the history of the economic crisis at a meeting of the Council of Foreign Relations on March 15. The text of the speech is available at Scribd.
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