Operation Twist – Good For Home Mortgages – Bad For Economy
The Feds Operation Twist could spur home mortgage refinancing but, will be bad for small business and banks. Could this be the corner-stone for a new bank bail-out?
Housing Sales News
Home sales increase
Home sales
Well, today we finally have some good news on the US real estate market. The National Association of Realtors just released the report showing that existing home sales for August rose 7.7%. I’m sure all the national media outlets will be proclaiming the August home sales increase. But, I wonder how many will also report the other major housing news in this report. Yes, the other side of the coin is (as reported in this report) that median price for an existing home in August was down 5.1% from a year ago! Read more 
Peter Schiff Testimony Before Congress
Real estate market
Reality Warning: this is for my California subscribers, before viewing this video please understand that this is harsh reality and not the fantasy theories that many Californians believe in.
In order for the San Diego real estate market, or for the entire US real estate market to turnaround, first the economy must improve. Yes, the unemployment rate must go down people who get jobs must be secure in those jobs and taxes, fees and living expenses must not be so high as to stifle savings and investment.
Housing Starts Fall in August
New home starts fall
housing market
The Commerce Department said today that housing starts in August decreased the most since April, down 5.0 percent to a seasonally adjusted annual rate of 571,000 units. Plus, July’s starts were also revised down to a 601,000 unit pace, which was previously reported as a 604,000 unit rate.
New housing starts are now running less than one third of their rate during the housing boom. Read more
Home Foreclosures Likely to Rise
Banks have stepped up their actions against homeowners who have fallen behind on their mortgage payments, setting the stage for a fresh wave of foreclosures. Read more
Home Foreclosures
San Diego real estate – home foreclosures
San Diego real estate
Being in the trenches … the front line of local San Diego real estate activity, it’s hard for me to believe that we just passed through the “Summer of recovery” at least it was according to this administration’s proclamations.
Although many of the real estate reports for San Diego indicate that sales have increased last month, they also show that home prices have continued to fall. The sales increase in my opinion can be totally attributed to normal seasonal factors. What is really troubling, is the fact that during our seasonally strong traditional marketing period which just ended last month, home prices in San Diego were still in decline. Read more