Housing Recovery Not Until 2015
Housing market recovery
The analysis of today’s housing market in the video below, in my opinion is one of the most accurate and truthful that I have seen. Be forewarned, that if you’re a San Diego homeowner who’s expecting a snapback in your home value, I’d suggest not viewing this video because the harsh reality can be, and is, quite depressing. Read more 
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
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
Real Estate Market 2011 Double Dip
www.brokerforyou.com
Back on July 7th, 2010, I posted “San Diego real estate 2010 2nd. Half Outlook … double-dips” where I predicted the San Diego real estate market was headed for a double dip.
The latest Standard & Poor’s/Case-Shiller National Home Price Index showed that U.S. home prices fell 3.9 percent during the last three months of 2010, back to where they were at the beginning of 2003.
Canary in the Gold Mine
Greece is the ‘canary in the gold mine’ and is emblematic of all the debt that western countries now have on its books and NO real way to pay the debt down or off. And this includes the USA. A total collapse isn’t out of the realm of possibilities. More and more economists have said as much since the Great Recession began and what the Great Recession brought to light was all the debt and financial chicanery used to prop up the GNP of most western nations, especially the USA.
It’s not Greeks who created the problem, but a systemic corruption of the upper echelon of politico-elites who abused the currency and created an overextended bureaucracy with way too many public employees who were handsomely rewarded for voting and maintaining the status quo… Read more
Why Pay Your Mortgage – Live Payment Free
home foreclosures
Yesterday, members of Congress from California wrote to the heads of the Justice Department, the Federal Reserve, and the Comptroller of the Currency, requesting that they investigate the foreclosure processes of banks under their purview for “possible violations of law or regulations.”
Seems California liberals are pushing to let defaulted homeowners stay in their houses right now, rent free!
I don’t think it’s too outrageous of a prediction to imagine picking up a paper years from now and read about a few people in California, Florida or Vegas who haven’t paid their mortgage for seven years.