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Housing Crisis

Diversity Seen as Key to Revive Homeownership

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After two quarters of improvement, the national homeownership rate stayed at 63.6 percent in the first quarter—statistically the same level as the last quarter of 2016.  The Homeownership  Preservation Foundation has a formula for reviving the recovery: Continue to give hope to diverse homeowners. “By helping more diverse consumers become financially stable with financial coaching, from rural areas to small ... Read More »

Truth from Trulia: The Unrecovered Housing Economy

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Donald Trump’s rise through the GOP primaries and a surprise victory in November unmasked a deep and widespread angst over the quality of nation’s economic recovery. While national numbers on job growth and income levels have looked encouraging to national journalists and Washington-centric politicians, from the perspective of corner cafes and assembly line floors in heartland states, the picture has ... Read More »

Six Signs That Sales are Softening

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Last year was not a great one for the housing economists who forecast home sales.  Most, include NAR[1] and Fannie Mae[2], predicted that existing homes sales would end up south of a 3 percent increase over 2015.  In fact, sales did a little better, rising 3.2 percent for the best sales year since 2006.[3] This year, experts are low-balling sales ... Read More »

Bad Signs for Sales?

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Will 2016 be remembered as the peak of the recovery?  It was the best year for sales in more than a decade.  Will sales take a break in 2017, a victim of political uncertainty, rising rates and prices that are outpacing incomes? Even worse, will 2017 herald a multi-year downtrend in sales? Last year, existing-home sales finished 2016 at 5.45 ... Read More »

Why Foreclosures are Never-ending Credit Nightmares

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The popular belief that the seven million Americans who lost their homes to foreclosure during the Housing Crash are healed, whole and forgiven of their debts after seven years have passed is only partly true. For foreclosures, Fannie Mae and Freddie Mac set a seven-year waiting period before defaulters can apply for a mortgage, measured from the completion date of ... Read More »

Summer Ends with Crippling Inventory Shortages

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August brought even worse news for first-time and move-up buyer as chronic inventory shortages grow even, inflating home prices even more.  A double whammy of unaffordable prices and shrinking selections of homes for sale continue to handcuff the housing recovery. “Hopes of a meaningful sales breakthrough as a result of this summer’s historically low mortgage rates failed to materialize because ... Read More »

Rental Cost Crisis Worsens as Ownership Improves

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The percentage of renters paying more than 30 percent of their income on housing costs is increasing while cost-burned homeowners are decreasing, according to the 2014 State of the Nation’s Housing report released yesterday by the Harvard Joint Center for Housing Studies. On the owner side, the number of households facing cost burdens has fallen steadily as high foreclosure rates ... Read More »

Freddie: Low Income Levels Slow the Recovery

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Many of the nation’s housing markets are getting back to normal heading into the spring home buying season but many are not, according to Freddie Mac’s latest Multi-Indicator Market Index. Large pockets of weakness linger, particularly in the Great Lakes Region and the South outside of Florida and Texas. The national MiMi value stands at 82.7, indicating a housing market ... Read More »

Boomerang Buyers are Back Big Time

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Nearly half of all homeowners who lost their homes to foreclosure during the housing bust own their own homes again and most have a mortgage. just nine years after home prices bottomed in 2007. A new report from the Urban Institute that compares credit profiles of renters and owners found nine million (7.1 percent) of all adult consumers with a ... Read More »

New Vs Old—Who’s Responsible for the Inventory Shortage?

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  Who’s responsible for the inventory shortage? Does the blame lay with owners of existing homes are aren’t motivated enough to sell or with builders who simply building enough to meet demand? As the days count down to the opening of the spring sales season, inventories are lagging behind last year—which lagged behind 2014.  The result has been upward pressure ... Read More »

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