zerohedge.com / by Tyler Durden on 11/18/2014 17:41
As Kyle Bass once eloquently noted, the brevity of financial memory is about two years; and nowhere is that more clear than in the explosive resurgence of demand for new subprime-mortgage-backed products. As Scotsman Guide reports, some subprime lenders are reporting strong investor appetite for the once-reviled […]
investmentresearchdynamics.com / By David Kranzler / November 12, 2014
Like Toll Brothers, DR Horton released impressive earnings. I can’t figure out who is buying those homes given that mortgage applications have been declining almost every week (93% of all new homes are bought using a mortgage). Perhaps a lot of the newly-minted part-time employees […]
doctorhousingbubble.com / Dr. Housing Bubble / November 10th, 2014
Never in the history of U.S. home sales have we had institutional investors so involved in the single family home market. In many areas once the bubble popped, we had big and small investors swallowing up over half of all sales for many years. The deals […]
mises.ca / by David Howden / November 1st, 2014
The housing boom is searching for ways to keep going. Prices for many high-end pieces of real estate are now out of reach for even the 1% of the super-wealthy.
During the last housing boom, terms were reset for the “little people” to make home ownership […]
investmentresearchdynamics.com / By David Kranzler / October 31, 2014
RealtyTrac’s data shows that sales of lower priced houses, those most likely to be first-time purchases, have “fallen through the floor. It’s the clearest demonstration of a first-time buyer affordability gap.” And without first-time buyers there will be no buyers able to move to their […]
marctomarket.com / by Marc Chandler / 25 October 2014
The week ahead is eventful. Investors will learn of the results of review and stress test of European banks. The Federal Reserve meets, as do three other central banks (Bank of Japan, Sweden’s Riksbank and the Reserve Bank of New Zealand. Important elections were held in […]
investmentresearchdynamics.com / By David Kranzler / October 22, 2014
The lack of movement for the purchase index underscores the lack of traffic and lack of demand in the housing sector. – Bloomberg News
Once again the Mortgage Bankers Association purchase applications index fell 5% week to week and 9% year over year (LINK). Mortgage rates […]
theburningplatform.com / Via Anthony Sanders / 21st October 2014
In classic MSM fashion, the headlines about existing home sales crow that they are the highest in a year. The truth is they are 1.7% LOWER than last September. But at least inventory for sale is 6% HIGHER than last September. Lower sales and […]
theburningplatform.com / By Anthony Sanders / 21st October 2014
In classic MSM fashion, the headlines about existing home sales crow that they are the highest in a year. The truth is they are 1.7% LOWER than last September. But at least inventory for sale is 6% HIGHER than last September. Lower sales and higher inventory […]
trueeconomics.blogspot.com / by RICHARD FLORIDA via citylab.com / October 19, 2014
You know the mythology: despite 55% upper marginal tax rate in exchange for nearly zilch in public services, despite the need to pay consultants’ fees and private insurance just to get basic medical care, and despite the fact that childcare runs a cost of […]
mybudget360.com / OCT 17, 2014
People tend to think that buying a home means only paying principal and interest. Most conveniently forget the other myriad of expenses associated with being a homeowner. As Americans find less disposable income in their bank account each month, less Americans are becoming homeowners. The middle class is moving away […]
zerohedge.com / by Tyler Durden / 10/14/2014 09:17 -0400
So much for the much hyped, if quite negligible, second quarter rebound in mortgage activity. After rates tumbled, and continued to tumble, there was some hope that at least the offset to the bond market screaming contraction and deflation (something even stocks have realized in recent […]
armstrongeconomics.com / by Martin Armstrong / October 5, 2014
Former Federal Reserve Chairman Ben Bernanke has been turned down for refinancing his home mortgage. Bernanke said: ”Between ourselves, I have recently tried unsuccessfully to refinance my mortgage loan” he told Bloomberg at a conference in Chicago.
Reason, the lending standards in the USA were […]
zerohedge.com / Via Morgan Stanley / 10/03/2014 15:32
Amid rising tuition costs, an increasing share of students rely on debt to fund their education.Student loan delinquent balances have been on the rise since the early 2000s and those with student loans are likely to be less credit worthy than those without (Exhibit 50 & Exhibit […]
globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Thursday, October 02, 2014 11:49 PM
In the curious news of the day, former Fed Chair Ben Bernanke was turned down in his effort to refinance his mortgage.
Bloomberg reports You Know It’s a Tough Market When Ben Bernanke Can’t Refinance.
Ben S. Bernanke said the mortgage […]
bloomberg.com / By Elizabeth Campbell Oct 2, 2014 4:19 PM ET
Ben S. Bernanke said the mortgage market is still so tight that he’s having a hard time refinancing his own home loan.
The former Federal Reserve chairman, speaking at a conference in Chicago, told moderator Mark Zandi of Moody’s Analytics Inc. — “just between […]
davidstockmanscontracorner.com / by Mark Hanson / October 2, 2014
1) “Peak Housing”: The “Return to Normal”
The take-away from last month’s housing data was that “the market was returning to normal”, which despite the persevering weakness, was viewed as a “great thing”. This overly-simplistic and flawed assumption was made, as the all-cash cohort demand […]
doctorhousingbubble.com / Dr. Housing Bubble / October 1st, 2014
In ancient home buying times, the vast majority of home purchases came from regular families looking to buy a home. When I say buying, I mean committing to a 30 year mortgage financed by a bank. This was the traditional mechanism of keeping the real estate […]
zerohedge.com / by Tyler Durden / 10/01/2014 09:06 -0400
It is not a good morning for Bill Ackman’s Pershing Square or Bruce Berkowitz’s Fairholme Capital, or the US government for that matter, of course, which happen to be the three largest investors in Fannie Mae:
The reason: FNM stock, which at last check, was […]
globaleconomicanalysis.blogspot.com / by Mike “Mish” Shedlock / September 25, 2014
A chart in the latest Black Knight Mortgage Monitor Release caught my eye.For five months, the number of properties and the percentage of properties 30-days delinquent has been on the rise (arrows added).