BusinessWeek Online - 1. The Shift
When the subprime market began to collapse in 2006, many lenders and brokers shifted their business to loans guaranteed by the Federal Housing Administration
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New Look, Same Lenders
November 24th, 2008 · Permalink
Foreclosures to rise whoever wins White House
July 5th, 2008 · Permalink
WASHINGTON - Home foreclosures will keep rising next year no matter who is elected president in November.
Even the optimism that surrounds a new president taking office cannot resurrect home values overnight, and presidents have no direct ability to reduce rising mortgage rates. Nevertheless, Democrat Barack Obama and Republican John McCain both promise help for homeowners […]
Home prices sink at record clip; foreclosures keep mounting
April 29th, 2008 · Permalink
NEW YORK - In a bad omen for sellers and lenders this spring home selling season, the erosion of house values is accelerating and foreclosure filings are doubling, new data showed Tuesday.
A closely watched index of home prices in 20 cities fell almost 13 percent in February from a year earlier, a record for […]
Bank shares down after housing finance surprise (The Australian)
April 15th, 2008 · Permalink
A SURPRISE plunge in the level of housing finance added to the gloom surrounding the banking sector yesterday, sending shares in major lenders sharply lower and contributing to the share market’s fifth straight day in the red.
Shares on the Australian Securities Exchange sank almost 2 per cent, extending its losing streak and further undermining recent […]
Lender-Owned Homes May Be Bargains, But They’re Hard To Buy
April 10th, 2008 · Permalink
Patience is a virtue, and a necessity, when buying a foreclosed home straight from a lender.
With prices down, real estate agents across the country report that more investors are interested in acquiring properties this way. But it isn’t simple or quick. There is a lot to watch out for, such as many layers of bureaucracy […]
UK housing market ’set for 30-year low’ (Daily Telegraph)
March 26th, 2008 · Permalink
Activity in the UK housing market is set to fall to its lowest level in more than 30 years, according to a leading estate agent.
Uncertainty among buyers and sellers and the reduced availability of debt will drive down transaction levels to 800,000, according to data from LSL Property Services.
LSL chief executive Simon Embley said: “In […]
Broward housing market still bleak (Sun-Sentinel)
March 25th, 2008 · Permalink
South Florida’s housing market looks worse now than it did at the end of a brutal 2007.
With the slump staggering into a third year, buyers are having trouble getting home loans because lenders are tightening credit standards, and the surge of mortgage defaults and Foreclosures is adding to the glut of properties already for […]
Triple whammy for homebuyers as three experts deliver devastating verdict on housing market (Daily Mail)
March 20th, 2008 · Permalink
A series of leading experts today issued dire warnings on Britain’s housing market as the credit crisis takes its toll on lenders and leaves first-time buyers struggling to get on the property ladder
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