by Tyler Durden Over the past few months (not to mention last 7 years), the topic of America’s “missing inflation” has gained major prominence, because while supposedly every other aspect of the economy is humming along (which really just means that record numbers of waiters, bartenders and temp workers are hired and collect minimum wage […]
Nearly 6.4 million homeowners in the United States are still “underwater” on their mortgages, owing the bank more than their house is worth, experts say. “Nearly 6.4 million homes, or13 percent of all residential properties with a mortgage were still in negative equity at the end of the third quarter,” said CoreLogic, an Irvine, California […]
I’ve always wondered what would happen once private equity players decided enough was enough and foreign oligarchs finished their real estate money laundering transactions. Well, we might be about to find out. According to RealtyTrac, foreclosures for homes worth $5 million or more are up 61% this year despite the fact that overall foreclosures are […]
, the noted economist who correctly predicted the U.S. housing bubble and its collapse, now sees an impending housing market train wreck of global proportions, with housing markets in 18 countries vulnerable to a meltdown. In a column for Project Syndicate, Roubini, an economics professor at New York University, wrote that “signs of frothiness, if […]
U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble, a trend that could deal another blow to the country’s biggest banks. The loans are a problem now because an increasing number are hitting their 10-year anniversary, at which point borrowers usually must start paying down […]
The Mortgage Bankers Association and the Independent Community Bankers of America jointly filed a Supreme Court brief arguing that under the new HUD rule under Obama’s ridiculous housing plan that virtually every lender in the United States could be sued for discriminatory lending practices if they don’t lend to enough minorities no matter how bad […]
Nearly half of the US homeowners, who had their loans modified under a government aid program, are now defaulting again on their mortgages at an alarming rate, according to a report on Wednesday by a watchdog organization. The report by the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), said that around 865,100 […]
With market participants cheering a new all-time high in the Dow Jones, one man is predicting this “misplaced optimism” will lead to a “worse collapse than in 2008.” Peter Schiff, the eternal provocateur, suggests the Fed’s extraordinary support of bond and housing markets will lead to a market crash as interest rates rise, leaving banks, […]
President Barack Obama has nominated Rep. Mel Watt to be Director of the Federal Housing Finance Agency. If his appointment is upheld, Watt may well lead America into another housing collapse. Watt is the Democratic Representative from the 12th district of North Carolina. He has been in Congress now for 20 years and is well versed in […]
The Obama Administration Wants Banks to Stop Being So Uptight About their Mortgage Underwriting. How Crazy is That? Here we go again The Washington Post reports that the administration is pushing for banks to loosen their lending standards in order to make more home loans to buyers and minorities with poorer credit and lower incomes. […]
