Weekend Topic Suggestions
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The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
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Name:Ben Jones
Location:Northern Arizona, United States
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How about a weekend topic on Real Estate Fraud in America, in honor of the Realtor® troll brigade which recently took up residence on the HBB.
Let me know if you change your mind and want that referral for a Realtor® in San Diego.
OMG…how many times do I need to repeat this:
1) We’re not currently in the market to buy, and may never be.
2) Just in case we change our minds, one of the principals of one of the main Realtor® firms in our area goes door-to-door to drum up business about every six months or so. I also know where to find his office in case we suddenly are overcome by a desperate urge to buy real estate.
They are obviously just someone here playing. This comment from yesterday shows it clearly:
Comment by Amy Hoax
2013-12-26 08:15:26
More people should trust you. Realtors are educated, certified professionals, who must pass a series of examinations that are more difficult than the bar, CPA, and CFA combined. Some of the smartest people I know are Realtors. And many of them are quite wealthy, but despite that wealth, continue working to help home buyers, because what Realtors love most is helping people.
Some of the comments they make also are obviously too stupid to be serious; e.g.:
“When interest rates go up, so do home prices.”
“When prices drop, so do my pants. Hey, a girl’s got to make a living.”
-Extremely friendly neighborhood REALTOR
Read it and weep, boys!
http://www.marketwatch.com/story/mortgage-rates-wont-derail-2014-housing-market-2013-12-27
Mortgage rates? Oh just ignore that!
Don’t tell me you are dumb enough to buy into that MarketWatch propaganda!
I write for MarketWatch. And I get paid for it. Paid ALOT.
How much do you get paid to write anti-housing blog posts in mom’s basement?
Yeah, I thought so.
“Paid ALOT.”
That right there says ALOT!
I write for MarketWatch. And I get paid for it. Paid ALOT.
congrats amy! that mean’s that marketwatch is dumber than you are. and that says ALOT.
***TROLL ALERT***
PS- I wonder if Amy Hoak will stumble upon this parody and get her panties in a bunch.
“Amy Hoak will stumble upon this parody and get her panties in a bunch.”
That’d be cool. (Not a sexist remark!)
Haven’t been here in awhile, but has anyone else noticed that her name is Amy **Hoax**?
My suggestion for a weekend topic is: is there time to save the Spring?
We have FHA loan limits dropping, but that could be changed pretty quickly. A little micro taper, same. Prices starting to drop in some areas again. I seem to recall this happening once before after the crash, drops that looked like they’d start to turn the tide back to a more historically normal real estate market, and then they put in the floor.
Is that jack of Hearts gonna jump out of the deck and piss in my ear once again?
‘then they put in the floor’
Who’s “they”? Weren’t you just saying on another thread there are no crazy conspiracy theories?
Check this Ben…Its the most complete summary I have seen written on the Blackstone et.al’s. moving into the housing rental business;
WALL STREET UNLOCKS PROFITS FROM DISTRESS WITH RENTAL REVOLUTION
Source: Bloomberg
With rental housing turning into an industry, big landlords are benefiting from access to financing at a time when banks remain reluctant to lend to home buyers. Investors from multibillion dollar hedge funds to individuals buying as few as 10 properties have acquired more than 1 million homes in the past three years.
http://www2.realtoractioncenter.com/site/R?i=qkcbR_TjgOUv594GIY0lvQ
So they buy 1 MILLION excess empty houses. Only another 24 MILLION to go!
What a business plan…. How do you earn profit on an item where the demand is in a state of free fall and the supply of the item is at record highs?
“Investors…1 million homes in the past three years…”
That doesn’t square well with 50% of sales being all cash and sales of houses this year being 5 million. Meaningful numbers are hard to come by.
I distinguish the collective moneyed interest 1%ers and the bankers who work for them all looking out for their own pile from the illuminati or rothschilds,etc.
As I said there, I suppose it doesn’t really matter if the effects are similar. But we are not heavily controlled or monitored as some may think, the internet proves that.
Are the phone repair Kiosk things any good to make money at ? Apple phones I think.
My nephew wants to buy one
2014 end of the housing bubble ?
If you’re looking to sell a home, 2014 will be a good year though probably not as good as the current one. But if you’re looking to buy, 2014 will likely be a better year than 2013. These are just some of the expectations that Jonathan Miller, president and CEO of Miller Samuel, a real estate appraisal and consulting firm, shared with The Daily Ticker.
Take home prices, which have been rising at a rate of 10%-12% — depending on which data you use, for example. Miller says home prices will rise half as much in 2014 because more supply will come on to the market. Inventory is now below the usual six-month average, credit remains tight and unemployment and underemployment will remain high even if they’ve declined over the past year.
“How can we have price growth that we didn’t see in decades? It doesn’t make any sense,” Miller explains in the video above.
About 40% of Americans have low or negative equity in their homes, says Miller. “They can’t trade up, make a lateral move [or} downsize, so they sit.”
And those who have the wherewithal to move will find that mortgage rates are higher — in part because of the Fed’s recent decision to reduce purchases of Treasuries and mortgage securities — and qualifying for a new loan will be tougher.
Under the Dodd-Frank financial reform law, lenders are required to meet new underwriting standards for “qualified mortgages” (QM) if they want greater protection from lawsuits. A QM loan must have a regular schedule for payment of principal and interest and fees paid by the borrower can’t exceed 3% of the loan amount and monthly payments can’t exceed 43% of the borrower’s gross income.
Miller explains in the video above ??
Link ?
http://finance.yahoo.com/blogs/daily-ticker/2014-housing-outlook–still-a-seller-s-market-but-improved-for-buyers-195459392.html
Don’t buy until it’s a buyer’s market and everyone agrees so.
All the recent stock market bubble talk by Shiller and others made me sufficiently nervous to cash in some year-end gains. I’ll plan to get back into the market again over the next few years. Hopefully I’m not priced out forever now.
Good man! Steadily realize gains to arrive at your asset allocation plan, but in bubble times I would sell a bit more off from the several years long best class and go a bit below your optimal percentage.
I’m planning to ramp up my stock purchases over the next few years. In case the long-heralded crash hits in the near future, I don’t have much exposure at this point.