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Crisis Watch

Foreclosure Starts Fall but Repos Rise

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Foreclosure activity rose in July, up 7 percent from the previous month and up 14 percent from a year ago. July was the fifth consecutive month with a year-over-year increase in overall foreclosure activity following 53 consecutive months of decreases. “The increase in overall foreclosure activity over the last five months has been driven primarily by rapidly rising bank repossessions, ... Read More »

Wake-Up Call: Depreciation Soars in Top Markets

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Though rising median home prices paint a favorable picture of current housing markets, the population of houses losing over 2 percent of value per year has increased to 24 percent from just 6 percent a year ago in ten of the nation’s largest markets. According to June data, in three major urban markets–New York City, Washington DC and Chicago–more than ... Read More »

The Dry Rot in America’s Housing Stock: A Sad Legacy of the Foreclosure Era

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  What would an influx of 3.8 million entry-level homes do for housing affordability? Limited inventory and strong demand continue to push home prices higher in America’s hottest housing markets, leading to declining affordability.  Forecasters are raising their predictions as tight inventories of homes, particularly lower priced properties, keep first-time buyers on the sidelines. Those 3.8 million homes, nearly twice ... Read More »

Some 5.7 Million Crash Victims Still Feel the Pain

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Though about five million families lost their homes to foreclosure from 2009 to 20013, some seven million consumers’credit was negatively impacted by the housing crash.  Today, only 1.2 million, or 18 percent, have completely recovered.  But over the next five years some 2.2 million of the remaining 5.7 million unrecovered consumers could meet agency underwriting guidelines, according to a report from ... Read More »

First April Report: Midwest Trails the Recovery

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    The Midwest is disappointing forecasters who called for a strong recovery this year–through April the region remains volatile, according to Clear Capital’s take on April market data.  At the end of the first quarter, the Midwest is already seeing negative quarterly declines of -0.10%. For nearly seven years, it has struggled to get on equal footing with the ... Read More »

Homeownership Falls Farthest among Middle Aged Adults

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Homeownership has fallen farther and faster among adults in the middle age bracket than among younger Millennials whose attitudes towards homeownership have been the focus of attention among housing professionals, according to the newest Census data.  Though only about 34.6 percent of adults under 35 own a home, the percentage of those in the 35-44 year old bracket who own ... Read More »

Spring is Here and Banks Clean House(s)

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  Foreclosures soared in March, jumping 20 percent from a 104-month low in February increasing for the first time on a year-over-year basis in four and a half years, since September 2010. Foreclosure filings hit a total of 122,060 U.S. properties with foreclosure filings in March, according to RealtyTrac’s quarterly foreclosure report. The increase was driven primarily by a jump ... Read More »

HELOC Resets? No Worries!

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Perhaps you’ve seen the headlines crafted to conjure up fearful memories of Alt-A and Option ARM loan defaults during the depths of the housing depression. Tidal wave of HELOC resets about to hit! HELOC Resets Will Undermine Any Housing Recovery. Boom-Era HELOC Resets Raise Concerns. Not to worry.  Home Equity Line of Credit (HELOC) resets are not going to cripple the housing ... Read More »

Figuring Out Florida

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From the dawn of the housing crash in 2006, Florida’s real estate economy has stood out from the rest of the nation, sometimes acting as a bellwether of things to come, like the explosion of small investors and foreign investors who put a floor under plunging values in 2009 and 2010. At other times, Florida has been a throwback to ... Read More »

Bubble Trouble? Prices Outpace Wages

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Over the past two years, home price appreciation has outpaced wage growth in 76 percent of U.S. housing markets and appreciation nationwide has outpaced wage growth by a 13:1 ratio, but the price hikes have been fueled by non-traditional buyers like investors and international buyers, according to a new RealtyTrac study. Wages up 1.3 percent, home prices up 17 percent ... Read More »

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