Home values posted the largest decline in the first quarter since late 2008, prompting many economists to push back their estimates of when the housing market will hit a bottom.
via WSJ.com.
May 10
About 60 per cent of the 4.2m borrowers were up to date with their payments. The rest were at least three months past due, Mr Laughlin said.
via | bubbleinfo.com.
Apr 30
“Based on data from the Census Bureau, we estimate that about 3.5 million housing units currently sit vacant, above and beyond normal seasonal and frictional vacancies.” They calculated a range of 2.5 to 4.5 million units based on different assumptions.
via Calculated Risk
Apr 28
• The percent of residents moving out to purchase a home was at 12%; an all time record low we are starting to feel the “hate” for owning.
via Calculated Risk
Apr 27
We found that rental listing prices across the U.S. climbed 7.4 percent while for sale listing prices retreated 8.8 percent since this time last year (April 2010 – April 2011).
via HotPads Daily
Apr 27
With falling home prices and higher inventories, most of the public views real estate as a “buyer’s market,” in which buyers hold more of the control and sellers will more eagerly accept lower offers just to sell.
Not so fast, say buyers and sellers. More buyers are finding the sellers in the driver’s seat
Apr 26
These kinds of statistics have generated an enormous amount of commentary along with suspicions of a house price bubble. At first glance, housing would appear to be just the type of market that is susceptible to systematic mispricings. Most market participants have little experience, making transactions only infrequently. Asymmetric or incomplete information between buyers and sellers about demand and prices is acute. Even with the advent of new technologies, the matching of buyers with sellers remains cumbersome and slow. And unlike other markets, there are no good ways to “short” the housing market if prices get too high
Apr 26
The most enduring and simplistic argument for buying a house is that you’re making an investment.
What an understatement. Between your mortgage, property taxes, utility bills, maintenance, furnishings, renovations, landscaping and such, you’ll be investing non-stop in your home. But what’s the return on your money?
via The Globe and Mail.
