Talking about unemployment, home prices, the foreclosure/mortgage settlement and much more!
Been super busy so the posting has taken a backseat lately. But there is plenty of news in real estate to write about…
Unemployment April 2012
Unemployment is still too high at 8.1% according to the Bureau of Labor Statistics/Labor Department. While it is headed in the right direction, it still has a long way to go. And recovery in real estate goes hand in hand with recovery in the economy. Kind of like asking which came first: the chicken or the egg?
Delaying Buying a Home?
Buying a home may never get any cheaper than this. Several housing experts are predicting that this year will be the last chance for bargain hunters to cash in on the best deals of the weak housing market.
If you have been delaying buying a home then I suggest reading Buying a home won’t get much cheaper.
Ignore the Cheerleaders But Listen to This About Home Prices:
We keep hearing that home prices will not get cheaper and we have finally hit the bottom in housing. But we have to take some reports as nothing but overly optimistic cheer leading.
Seasonally unadjusted home prices will likely increase during the spring and summer months, repeating the seasonal pattern of the past few years
Yet it means something when Erkan Erturk at Standard & Poors says April 2012 US Home Prices Will Likely Turn Positive. Especially since this is not coming from some buy-a-home-now cheerleader…
Banks Got the Gold Mine and America Got the Shaft
More unsettling details come out about the mortgage/foreclosure settlement:
It’s bad enough that the overhyped mortgage settlement was a big victory for the banks at the expense of homeowners and the rule of law. It let servicers out of considerable liability at very low real cost, and even that is offset by the transfer from pension funds and savers to the banks by letting them write down securitized first loans without wiping out bank owned second liens that sit behind them.
Please read the rest at: Conflicting Servicing Standards Play into Hands of Banks
Ice Ice Baby!
Hey, if you can’t believe a one hit wonder about the housing market, who can you believe: Vanilla Ice Says The Housing Market Is Better Than Ever
Why is it that when someone says to trust me, it usually makes you feel uneasy? If a Lack of Trust Is Killing the Economy then why is it that Warren Buffet says the secret to successful investing is being greedy when others are fearful and fearful when others are greedy?
Are you letting fear stop you from taking advantage of the opportunities in real estate today?