Bush's mortgage bailout just might work
If insider buying is any indication, home builders and financial-services providers expect dramatic reversals of fortune in the coming months.
http://tinyurl.com/2jmqub
Sunday, September 9, 2007
Pending Home Sales Drop 12%, Prices Remain Stable
Record drop in pending home sales
Index that measures contracts being signed for existing home sales drops to lowest level since 9/11 attack.
http://money.cnn.com/2007/09/05/news/economy/pending_home_sales/index.htm?postversion=2007090512
Index that measures contracts being signed for existing home sales drops to lowest level since 9/11 attack.
http://money.cnn.com/2007/09/05/news/economy/pending_home_sales/index.htm?postversion=2007090512
Saturday, August 25, 2007
The Experts Agree: There is No Real Estate Bubble Collapse
Here to tell the story are:
Robert Shiller, the Yale economist and Irrational Exuberance author, who has indexed U.S. home prices back to 1890; Lawrence Yun, chief economist of the National Association of Realtors; David Lereah, the N.A.R.’s former chief economist, who is now executive vice president of Move, Inc.; Barbara Corcoran, the real estate maven and author; Aviv Nevo, a professor of economics at Northwestern and a co-author of a study about FSBO (for sale by owner) sales versus sales via a realtor; and Amir Korangy, founding editor of the very good New York City real estate publication The Real Deal. Here are their replies:
http://freakonomics.blogs.nytimes.com/2007/08/15/freakonomics-quorum-is-it-time-to-believe-in-the-housing-bubble/
Robert Shiller, the Yale economist and Irrational Exuberance author, who has indexed U.S. home prices back to 1890; Lawrence Yun, chief economist of the National Association of Realtors; David Lereah, the N.A.R.’s former chief economist, who is now executive vice president of Move, Inc.; Barbara Corcoran, the real estate maven and author; Aviv Nevo, a professor of economics at Northwestern and a co-author of a study about FSBO (for sale by owner) sales versus sales via a realtor; and Amir Korangy, founding editor of the very good New York City real estate publication The Real Deal. Here are their replies:
http://freakonomics.blogs.nytimes.com/2007/08/15/freakonomics-quorum-is-it-time-to-believe-in-the-housing-bubble/
Friday, August 24, 2007
Weekend Open Discussion
This is the time and place to post observations about your local areas, comments on news stories or the New Jersey housing market, open house reports, etc. If you have any questions you wanted to ask earlier in the week but never posted them up, let’s have them. Also a good place to post suggestions, requests for information, criticism, and praise.
For readers that have never commented, there is a link at the bottom of each message that is typically labelled “[#] Comments“. Go ahead and give that a click, you might be missing out on a world of information you didn’t know about. While you are there, introduce yourselves to everyone.
For new readers that have only read the messages displayed on the main page, take a look through the archives, a substantial amount of information has been put online in the past month. The archives can be accessed by using the links found in the menus on the right hand side of the page.
For readers that have never commented, there is a link at the bottom of each message that is typically labelled “[#] Comments“. Go ahead and give that a click, you might be missing out on a world of information you didn’t know about. While you are there, introduce yourselves to everyone.
For new readers that have only read the messages displayed on the main page, take a look through the archives, a substantial amount of information has been put online in the past month. The archives can be accessed by using the links found in the menus on the right hand side of the page.
Thursday, August 23, 2007
Foreclosures Predicted to Have No Affect on NJ Home Prices
Good, bad news for N.J. housing
Foreclosures shoot up, but total is fairly small
Thursday, August 23, 2007
BY GREG SAITZStar-Ledger Staff
The number of homes foreclosed on by mortgage lenders in New Jersey shot up in July compared with both the previous month and the year-ago period, but the number remains small enough that it shouldn't further weaken the state's sluggish housing market, a real estate expert said.
Otteau called the number of New Jersey foreclosures last month fairly insignificant considering there are about 72,000 homes for sale around the state. Adding 215 more to the total has little, if any, effect on the real estate market, he said.
RealtyTrac's latest data found foreclosure filings for July swelled 93 percent nationwide, to 179,599, compared with July 2006. In New Jersey, filings jumped 52 percent from the previous July.
However, many in the industry question the reliability of those figures, which include filings for various stages in the foreclosure process -- meaning the same property can be counted two or three times.
"That creates a scare, a panic for those in the housing market, because it paints a picture far worse than it really is," Otteau said.
http://tinyurl.com/2cuuby
Foreclosures shoot up, but total is fairly small
Thursday, August 23, 2007
BY GREG SAITZStar-Ledger Staff
The number of homes foreclosed on by mortgage lenders in New Jersey shot up in July compared with both the previous month and the year-ago period, but the number remains small enough that it shouldn't further weaken the state's sluggish housing market, a real estate expert said.
Otteau called the number of New Jersey foreclosures last month fairly insignificant considering there are about 72,000 homes for sale around the state. Adding 215 more to the total has little, if any, effect on the real estate market, he said.
RealtyTrac's latest data found foreclosure filings for July swelled 93 percent nationwide, to 179,599, compared with July 2006. In New Jersey, filings jumped 52 percent from the previous July.
However, many in the industry question the reliability of those figures, which include filings for various stages in the foreclosure process -- meaning the same property can be counted two or three times.
"That creates a scare, a panic for those in the housing market, because it paints a picture far worse than it really is," Otteau said.
http://tinyurl.com/2cuuby
Wednesday, August 22, 2007
Graduate from College and Rent an Apartment? Not Anymore
20 is the new 30. An increasing number of young Americans in their 20s are now purchasing homes. Why rent and wait when you can buy right away? It is no wonder that anyone who is over 30 and still rents is viewed as a total loser by society (or at least those who post on kannekt).
http://www.realtor.org/files/press_room/2007_06hd.pdf
http://www.realtor.org/files/press_room/2007_06hd.pdf
Ailing builder bets on N.J.
Tarragon having financial problems? Not to worry. The strong NJ real estate market will bail them out!
http://tinyurl.com/387qrf
http://tinyurl.com/387qrf
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