In January 2010, the delinquent unpaid balance for CMBS increased by another $4.3 billion, up to $45.94 billion from $41.64 billion a month prior.
Mar 10
He was the Don that blessed everything that happened for years. Without him these two dead ducks would not be the disaster they are today. And Barney Frank has no clue how our system works. He proved it several times on Friday.
via Seeking Alpha.
Mar 09
The shadow inventory from all these sources would seem to be in the 9 – 10 million home range (adding up the above numbers). Extending this shadow to the end of 2012 accounts for about half of the current sales rate for homes over the three years.
via Seeking Alpha.
Mar 04
“There's been an enormous bubble in commercial real estate, and it has to come down,” said Elizabeth Warren, chairman of the Congressional Oversight Panel, the watchdog created by Congress to monitor the financial bailout. “There will be significant bankruptcies among developers and significant failures among community banks.”
Mar 01
Billionaire Warren Buffett said the U.S. residential real estate slump will end by about 2011, predicting that’s how long it will take demand for homes to catch up with the supply.
via BusinessWeek.
Mar 01
The overhang of homes heading toward liquidation suggests more delinquencies and lower home prices are to come. The current “shadow inventory” including all delinquent loans, not only those that are real estate owned [REO] of troubled mortgages will likely take about 33 months-or nearly three years-to clear at the current rate of liquidations. Moreover, we believe this estimate is conservative, as we do not assume any loans that have yet to show any serious signs of distress to date will default in the future and further increase the overhang of homes.
via Standard & Poors.
Feb 27
Ending 2009, 25% of mortgage holders owe more than their homes are worth, according to First American CoreLogic with problem areas like Nevada plaguing the national average as 70% of borrowers underwater. More than 50% of borrowers Florida and Arizona as well as 33% of California borrowers are underwater.
Feb 25
What exactly is the monetary tipping point for a homeowner, someone occupying the home, hanging pictures on the walls, perhaps raising their kids in the second and third bedrooms, going to the neighborhood block parties…what exactly is the negative equity number that makes them say, “We’re outta here.”
