Jun - 23rd
How unemployment is putting even more pressure on the collapsing housing market
Posted at 10:16 am | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
At the beginning it was all the easy money and the subprime lending but today, unemployment is becoming the main cause of foreclosures in this country. According to the USA Today:
WASHINGTON — The nation’s foreclosure crisis — once largely confined to only a few corners of the country — is spreading to new areas as […]
Jun - 23rd
Existing-home sales in the West declined 0.9 percent
Posted at 10:06 am | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
The NAR has just reported the following:
Existing-home sales in the West slipped 0.9 percent to an annual rate of 1.14 million in May, but are 11.8 percent higher than May 2008. The median price in the West was $197,700, down 30.6 percent from a year ago.
For the whole country, these are the numbers
Existing-home sales – […]
Jun - 19th
Unemployment in California hits 11.5%
Posted at 1:42 pm | Filed Under California Housing Crash, The Economy, Real Estate
More bad news for the Golden State. According to the EDD:
SACRAMENTO – California’s unemployment rate was 11.5 percent in May, and nonfarm payroll jobs declined by 68,900 during the month, according to data released today by the California Employment Development Department (EDD) from two separate surveys.
Now, this is what I say:
This will put even more […]
Jun - 17th
Do you mean the home has to actually appraise?
Posted at 3:45 pm | Filed Under California Housing Crash, Florida Housing Crash, Real Estate
Yes, believe it or not, banks are being more careful before handing out the money so people can buy or refinance homes. What a concept!!!
According to the Sun Sentinel:
Real estate agents, mortgage brokers and buyers, as well as homeowners who want to refinance their loans, are feeling the effects of rules designed to prevent inflationary […]
Jun - 17th
California is running out of money
Posted at 7:42 am | Filed Under California Housing Crash, The Economy, Real Estate
Visit msnbc.com for Breaking News, World News, and News about the Economy
Jun - 16th
Why high-end homes will continue to go down in value
Posted at 3:01 pm | Filed Under California Housing Crash, The Economy, Real Estate
This article on Bloomberg shows you how this is just the beginning in declines for the 1 million plus homes.
June 16 (Bloomberg) — Prices for the most expensive U.S. homes may not reach bottom for another few years, according to JPMorgan Chase & Co. analysts.
“Tighter lending standards and the lack of cheap financing for these […]
Jun - 16th
New housing permit numbers might not be as good as you think
Posted at 2:40 pm | Filed Under California Housing Crash, Florida Housing Crash, Real Estate
Visit msnbc.com for Breaking News, World News, and News about the Economy
Jun - 16th
Layoffs at MySpace
Posted at 2:37 pm | Filed Under California Housing Crash, The Economy
Visit msnbc.com for Breaking News, World News, and News about the Economy
Jun - 16th
California’s Financial Meltdown
Posted at 2:36 pm | Filed Under Politics, California Housing Crash, The Economy, Real Estate
Visit msnbc.com for Breaking News, World News, and News about the Economy
Jun - 10th
Home prices are back to 1989 levels in some parts of Southern California
Posted at 2:45 pm | Filed Under California Housing Crash, The Economy, Real Estate
Interesting article on the LA Times web site:
n parts of Southern California, the housing crash has upended a basic tenet of the American dream: that home values always increase over the long term.
Properties in several areas are selling for less than they did 20 years ago, and that’s not even counting the effects of inflation.
Home […]
