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RECENT BLOG POSTS
This article originally appeared on HousingStorm.com. The FHA made bad loans, at the urging of Congress and The White House, to prop up home prices and, in their own words, saving us from depression. The bailout will come. The bill will be enormous. HUD and The FHA believe we should be THANKING ...
11/13/2009
There is a lot of confusion out there about how long a borrower has to wait to buy a home again after a short sale or foreclosure. Just how long are the blacklist periods? Part of the confusion comes from the fact that Fannie Mae, Freddie Mac, Ginny Mae, and The FHA don't make their policies crys...
11/12/2009
The trend of increasing defaults in higher-priced communities continues. No doubt the rough economy, temptations to strategically default, and rising unemployment are part to blame. Another culprit may be the recasting (not resetting) of option-arm loans that were very popular on the $1M+ loans. ...
11/09/2009
We, the taxpayers, are the only mortgage lenders left. And, we're losing a fortune. Fannie Mae and the FHA are giant money holes. Our leaders keep throwing billions into these bottomless-pits because it's for our own good. FANNIE MAE In the recent quarter, Fannie Mae reported a $18.9 Billion Loss...
11/09/2009
This market is red hot. Home sales remained stable with the total sales for Contra Costa and Alameda County at 2,284 for the month of October 2009. This was down less that 1% from September. Though it was down from 2,482 sales in October of 2008, the total was more than double October 2007's 1,01...
11/09/2009
Why does our Government want housing to be expensive? Is it for legitimate economic reasons? Is it political? Corruption? All of the above? Barney Frank says in The New York Times “I don’t think it’s a bad thing that the bad loans occurred,” he said. “It was an effort to keep prices from falling ...
11/02/2009
Peter Schiff has been right about housing, but wrong (so far) on inflation. Here is a video by Peter Schiff, explaining homes-as-shelter vs. homes-as-investments. I agree with most of what he says in this video. The only parts that I disagree with him on have to do with the dollar and his expecta...
10/28/2009
Realtors like to tell each other that home prices are going up and now is the time to buy. I get industry garbage in my inbox every day. I don't know why they do it...maybe as a little "pep talk". Maybe they are practicing telling the lie a few times to friends before talking with clients. Whatev...
10/28/2009
Existing home sales didn't rise, they fell. As reposted on HousingStorm earlier today, The National Association of Realtors report that Existing Home Sales Rose in September Both the headline and the data behind it are misleading. Barry Ritholtz took his gloves off: Existing Home Sales fell 5.4% ...
10/23/2009
Two home price forecasts for 2010 came out this week. One predicts prices will rise. One predicts they will fall. First American Core Logic predicts prices will rise. From The Orange County register Calif. house prices projected to jump 7.9% U.S. house prices will stop falling in March and are pr...
10/23/2009
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