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Here We Go Again: Demand For Subprime Debt Is “Out Of Control”

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 […]

DR Horton’s Latest Quarter: Lipstick On A Pig

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 […]

The steady decline of all cash buyers: Investors pulling back but all cash sales still remain elevated. Fewer distressed sales means less opportunities for good deals.

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 […]

Real-estate Out of Reach of the Super Wealthy

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 […]

New Home Sales Are Tanking

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 […]

Eventful Week Ahead

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 […]

The Mortgage Purchase Index Plunges – Again

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 […]

EXISTING HOME SALES FALL VERSUS LAST YEAR, WHILE INVENTORY RISES – LET’S CELEBRATE!!!!!

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 […]

EXISTING HOME SALES FALL VERSUS LAST YEAR, WHILE INVENTORY RISES – LET’S CELEBRATE!!!!!

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 […]

19/10/2014: Dublin: Just 24th in the Global Centres for Talent Rankings

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 […]

How Americans go poor by spending money on housing and related expenses: Americans spend 33 percent of their income on housing-related items.

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 […]

Mortgage Application Pipeline At America’s Largest Mortgage Lender Drops To Lowest Since Lehman

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 […]

Government Cannot Regulate Anything – Bernanke Denied Mortgage With No Steady Income

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 […]

Student Loan Bubble Blowback: Morgan Stanley Warns Average Debtor Can’t Get A Mortgage

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 […]

Bernanke Turned Down For Mortgage Refinance; Questions Abound

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 […]

You Know It’s a Tough Market When Ben Bernanke Can’t Refinance

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 […]

Peak Housing 2.0—Why This Bubble Correction Will Be A “Doozy”

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 […]

Who needs a mortgage? How the traditional mortgage market is stuck in low gear and reflects an underlying lack of demand for home buying.

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 […]

Ackman, Berkowitz Slammed After Fannie Mae Plunges 60% On Court Ruling

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 […]

Housing Early Warning Stress Indicator On Rise

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).

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