From Zero Hedge: …From 1963 to 1995, there was a mean of 383.27 people in the US population per each new home built. Starting in 1995, the number dropped from 394 people per home to a record 229 people per home in 2005 (the building peak). Assuming this population per production # is mean reverting, [...]
Its like Bloomberg news is making this radical, new discovery which no one ever would have thought…the continuing bad housing market just might bring us back in to recession! Who woulda thunk it? Housing led the U.S. out of seven of the last eight recessions. This time, it may kill the recovery. Home sales collapsed [...]
From the Reno Gazette Journal: …Distressed properties posted 904 unit sales in Reno and Sparks from April to June, according to data from the Northern Nevada Regional MLS. The sales represent about 60 percent of the market in both cities, up from 55 percent during the same period last year. Short sales accounted for the [...]
Remember all the happy talk about how things were turning around a few months ago? From Bloomberg Businessweek: The mortgage crisis, far from easing, is deepening in the Northwest and Midwest. With 15 million Americans out of work, home prices and consumer spending are under pressure. Another tumble in property values could push the economy [...]
From Rasmussen: Rumors have circulated that the Obama administration is considering a partial mortgage forgiveness plan to help those who owe more than their homes are worth. Just 28% of U.S. voters favor such a proposal. A new Rasmussen Reports national telephone survey finds that 58% oppose a proposal to have the federal government forgive [...]