Sep - 10th
Bailouts won’t stop drop in home prices
Posted at 7:31 am | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
The Federal government keeps bailing out the financial system and trying to artificially keep home prices high but long term, the market dictates what homes prices will be all around the country.
CNNMoney has this article:
Fannie, Freddie rescue won’t end housing woes
NEW YORK (CNNMoney.com) — The federal government’s takeover of Fannie Mae and Freddie Mac may […]
Sep - 3rd
Unemployment - The next big problem for the housing market
Posted at 10:33 am | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
This from CNBC:
Rising Unemployment May Deepen Housing Slump
In the Riverside-San Bernadino-Ontario metro area in southern California, the median price of an existing home was down 32,.7 percent from a year ago, as of the second quarter, based on data from the national Association of Realtors. The jobless rate there was 8.9 percent in July vs. […]
Sep - 2nd
Desperate sellers are giving their houses away
Posted at 3:45 pm | Filed Under Florida Housing Crash, The Economy, Real Estate
More signs that the real estate crash is far from over. This from the New York Times:
Homeowners are struggling nationwide. But here in South Florida, the reversal of fortune has been especially severe, scrambling the psychology of a community that has historically treated real estate as a game of how-rich-can-you-get.
Overdeveloped and still building, this remains […]
Aug - 6th
A flood of bankruptcies in South Florida
Posted at 11:44 am | Filed Under Florida Housing Crash, The Economy
Interesting article in the Miami Herald:
Tough economic times continue to take a toll on South Floridians.
The U.S. Bankruptcy Court for the Southern District of Florida recorded 1,836 bankruptcy filings last month, up about 93 percent from the 953 filed in July 2007. There were 1,768 filings in June.
Chapter 7 filings in Miami-Dade, Broward and Palm […]
Aug - 4th
The worst is not over for the housing market
Posted at 10:16 am | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
The New York Times reported this today:
Homeowners with good credit are falling behind on their payments in growing numbers, even as the problems with mortgages made to people with weak, or subprime, credit are showing their first, tentative signs of leveling off after two years of spiraling defaults.
The percentage of mortgages in arrears in the […]
Jul - 24th
Daily Show interview of Richard Bitner: Confessions of a Subprime Lender
Posted at 5:31 pm | Filed Under Bailout News, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Buy Richard Bitner’s book: Greed, Fraud & Ignorance: A Subprime Insider’s Look at the Mortgage Collapse
Jul - 24th
The housing crash continues - Existing home sales down in June
Posted at 10:06 am | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
The National Association of Realtors reported more horrible news for the housing market in the US. Here are the highlights:
Existing-home sales – including single-family, townhomes, condominiums and co-ops – fell 2.6 percent to a seasonally adjusted annual rate1 of 4.86 million units in June from a pace of 4.99 million in May, and are […]
Jul - 11th
An avalanche of foreclosures in California and Florida
Posted at 12:35 pm | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
If you thought that the housing market couldn’t get any worse, you get wrong. The Sun Sentinel reported this:
Florida foreclosures up 92 percent
Home foreclosures continue to multiply in South Florida and the rest of the nation, and analysts say the crisis likely won’t ease until next year at the earliest.
“Between falling home prices and the […]
Jun - 10th
Florida’s foreclosure crisis
Posted at 7:25 am | Filed Under Florida Housing Crash, The Economy, Real Estate
Things keep getting worse in Florida when it comes to the housing market. According to the Miami Herald:
Foreclosures surge in Florida
California and Florida lead the nation in foreclosure filings, and more than one in 10 Florida homeowners are in trouble.
Rapidly declining property values touched off a new wave of home-loan delinquencies in Florida during the […]
May - 28th
More problems ahead for Orlando’s housing market
Posted at 7:16 am | Filed Under Florida Housing Crash, Real Estate
This from the Orlando Sentinel:
Hope dims for a turnaround in Orlando-area housing, experts find
A closely watched index of housing values released Thursday showed that the Orlando area’s stock of existing homes lost more ground during the first quarter of 2008.
The Metro Orlando index, based on data from the Office of Federal Housing Enterprise Oversight, fell […]
