Category: US Housing
The analysis published under this category are as follows.
Thursday, September 16, 2010
Surge in Housing Supply Will Drive Down U.S. House Prices / Housing-Market / US Housing
By: Mike_Whitney
Home ownership has become an albatross. Prices are falling, demand is weak, foreclosures have skyrocketed, and inventory is backed up to the moon. If there's an upside, it's hard to see.
Everyone who bought a house in the last 6 or 7 years knows that he was fleeced by bankers who were pushing "fishwrap" mortgage paper to line their own pockets. Prices did not reflect the underlying supply/demand fundamentals as much as they exposed the massive mortgage laundering operation that was taking place in the shadow banking system. Hedge fund sharpies and other speculators walked away with billions while credulous homeowners were lashed to an anvil and tossed in the East River.
Wednesday, September 15, 2010
U.S. House Prices Drop in 36 States, Market to Stagnate for a Decade / Housing-Market / US Housing
By: Mike_Shedlock
The small upward correction in home prices from multiple tax credit offerings died in July. Worse yet, inventory of homes for sale as well as shadow inventory both soared. 8 million foreclosure-bound homes have yet to hit the market according to Morgan Stanley.
Sunday, September 12, 2010
Zero Down Mortgages Restarted by the Biggest Subprime Lender in Town - Fannie / Housing-Market / US Housing
By: Trader_Mark
Good news folks... the "no skin in the game" mortgage is back. You know the game right? It's a one sided bet where the buyer can only win. If the house goes up, you pocket that and hopefully get that granite countertop you so deserve with the home equity. If it doesn't go up.... you walk - but only after living in the home rent free for at least 18-22 months as you strategically default your way to a mountain of savings while waiting for the sheriff to show up. If you are smart you can save at least $30K during this time. There are no losers here (except the U.S. taxpayer). [Jan 5, 2010: WSJ - The Treasury Department's Christmas Eve Masscare of the US Taxpayer] [Feb 1, 2010: 2 Graphs Showing Part of the Reason for the Christmas Eve Taxpayer Massacre] [May 12, 2010: [Video] Are Losses at Fannie and Freddie Now "National Policy"?]
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Thursday, September 09, 2010
Should You Buy a House Now? / Housing-Market / US Housing
By: David_Galland
David Galland, Managing Editor, The Casey Report writes: Recently, we have had a number of queries about real estate. And no wonder. For starters, real estate prices have come down. Plus, in an environment with next to zero interest rates, the idea of possibly picking up some income-producing property on the cheap holds a certain appeal to some. Then there’s the fact that real estate is very much a “tangible” – and so should hold up reasonably well, should the fiat currency system come undone, as we expect it will before this crisis is over.
Monday, September 06, 2010
The U.S. Unreal Real Estate Market / Housing-Market / US Housing
By: Mark_B_Rasmussen
The peak was 60 - 61 months ago. The historical peak to trough real estate prices is 46+ months. 01/10 was the low for the 4.5 yr. decline that began in the summer of 2005.
Friday, September 03, 2010
Double-Dip Recession Deepens as U.S. Housing Market Collapses / Housing-Market / US Housing
By: Mike_Larson
The Double-Dip recession I’ve been predicting for some time is deepening. And nowhere is the emergence of this powerful economic force more clear than in the housing market.
All the fresh economic data confirms that home sales are weakening … home inventories are rising … and home price pressure is building.
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Wednesday, September 01, 2010
U.S. Housing Sales Slump Whilst China's Boom / Housing-Market / US Housing
By: Tony_Sagami
I’m back in Montana for a short visit and I am really enjoying my time here.
I’ve hiked around two of my very favorite spots in the world, Jewell Basin area of the Flathead National Forest and Glacier National Park, and even picked a couple buckets of wild huckleberries. Fortunately, I did not run into any grizzly bears, but I didn’t see Huckleberry Hound either.
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Tuesday, August 31, 2010
Little Hope for the U.S. Housing Market / Housing-Market / US Housing
By: Money_Morning
Jon D. Markman writes: Just when you thought the housing market couldn't get worse, it did.
New single-family home sales slumped 12.4% in July to a record-low annual rate of 276,000 units, as homebuyers shunned their realtors in the absence of government support. The consensus expectation was for a slight up-tick to a 333,000 unit annual rate, so I suppose it's time to throw out the models. Sales over the prior three months were also revised lower by 9,000 units.
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Sunday, August 29, 2010
U.S. Home Sales Drop 27% In July And Things Are Only Going To Get Worse / Housing-Market / US Housing
By: Pravda
On Tuesday the National Association of Realtors announced that existing home sales in the United States dropped a whopping 27.2% in the month of July. The consensus among analysts was that we would see a drop of around 13 percent, so when the 27 percent figure was announced it sent a shock through world financial markets.
Friday, August 27, 2010
Why Are U.S. Home Sales Plummeting? Huge Waves of Foreclosures Coming down the Pike / Housing-Market / US Housing
By: Washingtons_Blog
The government opted to try to prop up prices. Indeed, as I have repeatedly pointed out, the government's entire strategy has been to try to artificially prop up the prices of all types of assets.
Friday, August 27, 2010
U.S. New Home Sales Housing Market Forecast 2010 to 2020 / Housing-Market / US Housing
By: Andrew_Butter
A bubble is like if you have a flat pond, and you throw a pebble in.
First there is an “up” wave; that you can ride (if you are smart or lucky); then there is a “down” wave, and the size and the shape of the down that follows the up is predicated by the size and the shape of the preceding up.
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Friday, August 27, 2010
Record Drop in U.S. Home Sales / Housing-Market / US Housing
By: Barry_Grey
Sales of existing US homes in July plunged by a record 27.2 percent from the previous month, according to a report released Tuesday by the National Association of Realtors.
The virtual collapse in home sales affected every region of the country and was more than twice as bad as anticipated by economic analysts, who had forecast a drop of 12.1 percent. Sales fell to 3.83 million units, compared to June’s downwardly revised figure of 5.26 million.
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Thursday, August 26, 2010
Moribund U.S. Housing Market Threatens to Kill Economic Recovery / Housing-Market / US Housing
By: Money_Morning
Don Miller writes:
The weak housing market, which has traditionally led the U.S. economy out of recent recessions, this time may put an end to the economic recovery.
Existing home sales plummeted by a record 27% to their lowest level in 15 years in July and inventories soared, the National Association of Realtors (NAR) reported yesterday (Tuesday). Home re-sales, which account for 90% of the total market, dropped to an annual rate of 3.83 million in July. And inventories rose to 12.5 months from 8.9 months in June, putting them at their highest level in more than a decade.
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Wednesday, August 25, 2010
U.S. Housing Market Holocaust, Existing Home Sales Crash / Housing-Market / US Housing
By: Mike_Whitney
Don't look now, but someone just pushed the housing market off a cliff. The National Association of Realtors announced on Tuesday that the sales of existing homes fell a staggering 27.2 percent to a seasonably adjusted rate of 3.83 million units. This is the lowest number of sales since 1995. The reaction on Wall Street has been swift, shares plunged in a wild sell-off that pushed stocks down more than 100 points in a matter of minutes. US Treasuries rallied on the news sending bond yields lower as jittery investors sought safety from the ongoing avalanche of dismal economic data. The 10-year slid to 2.49% while the 2 year note dipped to 0.46%. Bond yields are a gauge of investor pessimism. At present, confidence in the management of the economy is at its nadir.
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Tuesday, August 24, 2010
U.S. Existing Home Sales Crash 27%, Treasury Bond Yields Hit New Lows / Housing-Market / US Housing
By: Mike_Shedlock
In yet another clean sweep, the third in a week or so, sales of existing homes dropped twice as much as expected, worse than every economist forecast, to a 15 year low. Inventory soared to 12.5 month, the highest since 1999. Treasury yields plunged with yield on the 10-year note falling as low as 2.50 and the 2-year note hitting a new all-time low at .47%.
Monday, August 23, 2010
Let the U.S. Housing Market Normalize! / Housing-Market / US Housing
By: Dr_Ron_Paul
Recently there have been some encouraging signs that Congress is finally willing to admit what should have been evident two years ago. Even after a $150 billion bailout, Fannie Mae and Freddie Mac are still bankrupt and should be abolished. Indeed Rep. Barney Frank, a longtime champion of Fannie and Freddie has made a few statements alluding to this and I have signed on to a letter asking him to clarify his remarks and hold hearings on this topic. There seems to be a growing consensus in favor of abolishing Fannie and Freddie. This is the good news.
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Tuesday, August 17, 2010
A Permanent U.S. Housing Market Collapse? / Housing-Market / US Housing
By: Shamus_Cooke
The recent chaos that erupted when 30,000 people waited hours in the Atlanta, Georgia heat to receive applications for subsidized housing is a mere symptom of a worsening national problem.
The housing market appears to be on a never-ending downward spiral, with the much-discussed "recovery" always around the next corner.
Sunday, August 15, 2010
U.S. Housing 10% Below Fundamentals, BubbleOmics Says Must Drop 15% More / Housing-Market / US Housing
By: Andrew_Butter
From Felix Salmon today: The government does need to get the housing market going, because the alternative is unthinkable: if the government just kicked away the housing market’s multi-trillion-dollar scaffolding overnight, as Santelli suggests it should, then the entire banking system would become insolvent, and we’d soon be reminiscing wistfully about how painless and shallow the 2008 financial crisis was, compared to the one of 2011. http://seekingalpha.com/..
Tuesday, August 10, 2010
The Forgotten U.S. Housing Market Foreclosure Crisis / Housing-Market / US Housing
By: Submissions
Faiz Shakir writes: The economic meltdown of 2008 grew out of a foreclosure crisis, as Wall Street banks drove lenders to make loans that were then securitized and sold around the world, in an unregulated slew of credit products. This inflated a housing bubble that, when it burst, severely damaged an already weak economy, sent millions of homeowners into foreclosure, and put millions more out of work, leading to even more foreclosures as unemployed workers began to miss mortgage payments.
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Thursday, August 05, 2010
IMF Warns U.S. Real Estate Sectors Could Bring Banking Crisis 2.0 / Housing-Market / US Housing
By: Dian_L_Chu
The International Monetary Fund (IMF) stress tested 53 large banking holding companies and published its findings last month. The report concluded that despite restoration of some stability, there remain certain important risks to the U.S. financial system and economy mainly coming from the real estate sectors: