Archive for January, 2009
Thursday, January 22nd, 2009
December wasn't just a bad month for the U.S. housing market, it was the worst month seen yet in the ongoing recession. Plans for constructing new homes were already at a record low in November, and in December those plans simply crashed. Over the...(read more)
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Thursday, January 22nd, 2009
U.S. house prices continued to decline in November, according to data from the U.S. Federal Housing Finance Agency (FHFA) , which recorded a 1.8% drop for the month. The decline was worse than economists' expectations for a 1.2% decline, and follows...(read more)
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Thursday, January 22nd, 2009
The housing sector continued to show weakness in December with housing starts and building permits sinking to new record lows. Housing starts fell to an annualized pace of 550k, representing a month-over-month decrease of 15.5%, according to data released...(read more)
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Wednesday, January 21st, 2009
The only major economic data to be released for the United States this week is the housing starts and permits report from the Commerce Department. Unfortunately, the news is likely to be grim, suggesting that problems in the housing sector continue to...(read more)
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Wednesday, January 21st, 2009
Confidence amongst homebuilders fell to a new all-time low in January, according to a report issued by Wells Fargo and the National Association of Home Builders (NAHB) on Wednesday. The housing market index dropped to a reading of 8 in January, following...(read more)
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Wednesday, January 21st, 2009
In prepared remarks that Treasury Secretary-designate Timothy Geithner will deliver before the Senate Finance Committee, he said the ongoing crisis requires a forceful reaction on the part of government. While defending the positive impact of the TARP...(read more)
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Tuesday, January 20th, 2009
President Barack Obama is inheriting the worst recession in decades and it's possible that in his first few days -- and potentially weeks -- he won't have a Treasury Secretary to guide fiscal policy. Obama's Treasury Secretary-designate Timothy...(read more)
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Tuesday, January 20th, 2009
A number of our readers from the brokerage arm of real estate have asked how they might become involved in marketing bank owned real estate (REOs), that is, properties seized by the banks for non-payment of the mortgage. We have spent a lot of time researching...(read more)
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Tuesday, January 20th, 2009
There's a major contrast between the chaotic optimism in Washington, D.C. and the pessimism in financial markets . Record crowds are filling the streets in the nation's capitol, but judging by the first hour of trading, it almost appears markets...(read more)
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Thursday, January 15th, 2009
Home foreclosure activity increased dramatically in 2008 compared to the previous year, according to RealtyTrac's 2008 U.S. Foreclosure Market Report. There were 3,157,806 foreclosure filings - default notices, auction sale notices and bank repossessions...(read more)
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