Disenchantment with real estate is bound to swell further on Tuesday when the most widely watched housing index is all but guaranteed to show prices of existing homes sank in March below the lows reached two years ago
via NYTimes.com.
May 30
An index of U.S. commercial real estate prices fell to a cyclical low in March that was down 47% from the peak in October 2007. So why should investors be happy?
via Moody’s.
May 29
The nation’s biggest banks and mortgage lenders have steadily amassed real estate empires, acquiring a glut of foreclosed homes that threatens to deepen the housing slump and create a further drag on the economic recovery.
via NYTimes.com.
May 29
Resales of U.S. single-family homes and condos fell 0.8% to a seasonally adjusted annual rate of 5.05 million in April, the National Assn. of Realtors reported Thursday.
That came as a surprise to Wall Street. Economists surveyed by MarketWatch had expected sales to rise to 5.25 million.
via latimes.com.
May 28
“The housing market is dropping . . . and about to go to a new low,” he tells CNBC. “I think we’re looking at some type of echo in the credit crisis coming up here. That’s what I’m afraid of.”
via moneynews.
May 23
Five years after the housing market started teetering, economists now worry that the rise in lender-owned homes could create another vicious circle, in which the growing inventory of distressed property further depresses home values and leads to even more distressed sales. With the spring home-selling season under way, real estate prices have been declining across the country in recent months.
via NYTimes.com.
May 18
I dont think we have to choose between real prices and price-to-rent graphs to ask “how far out of line are house prices?” I think they are both showing that prices are not far above the historical lows. Prices might overshoot to the downside because of supply and demand issues; there is a large overhang of vacant housing units and many distressed properties still coming on the market, plus demand is soft with weak employment, fairly tight financing, negative home buying sentiment and some usual buyers excluded because of credit issues. But I dont think national real prices are that far out of line.
via Calculated Risk
May 13
For the first time in years, a guy who quantifies the foreclosure crisis got to report some good news. Kyle Lundstedt’s colleagues at LPS Applied Analytics call him Dr. Doom, as he calculates all the numbers for the monthly Mortgage Monitor Report.
via bubbleinfo.com.
