housing recovery: Housing Recovery Statistics May be Misleading...
- 06/01/14 06:59 PM
Housing statistics are easily misinterpreted. Additionally, some segments of the recovery may alter the overall statistics. Interesting information comes from Wolf Richter, via former White House budget director David Stockman. Obviously, it was not the weather suppressing sales for the 99% of homes. The top 1% of homes had astouding recovery statistices while the remaining 99% had lower sales volume.
From David Stockman:
As the saying goes, there are liars, damn liars and statisticians. LOL LOL LOL
housing recovery: Some POSITIVE News from NAR
- 07/26/13 07:58 PM
Well, the last blog about NAR seemed to stir some strong emotions. So, I thought that I would post a “good news” post for something that initially appears to be “bad news”. The National Association of Realtors (NAR) reported that existing home sales for June 2013 were down 1.2% when compared to May of 2013. This could easily (and perhaps erroneously) be viewed as an easing of the housing recovery. However, it is important to note that the June sales were 15% higher than in June of 2012. Also encouraging is that the national median home price was up 13.5% … (2 comments)
housing recovery: Fannie Mae Economists Predict Slow Growth Rate
- 01/25/13 08:46 PM
Fannie Mae indicates slow growth for the near term. Fannie Mae is conceding that at least in the “near term…continuation of below-potential economic growth with a two percent growth rate expected for 2013” could “continue to be par for the course for the near term”. The GSE’s chief economist, Doug Duncan, said yesterday that the current “fiscal policy climate will act as a drag on growth this year with possible implications on the direction of the economy in the long term.” Not surprisingly, Duncan cited the fiscal cliff and debt ceiling debates as factors “likely to suppress consumer spending in the … (2 comments)
housing recovery: What is Fueling the Housing Recovery?
- 01/13/13 04:18 PM
I had an interesting conversation with an Investor from Russia today. He read two of my recent blogs about a housing recovery. He commented that lending is tight in the USA yet the sale of homes and the prices of homes are both increasing. It did not make sense to him. I have been a partner in two Venture Capital firms and two private equity firms. These types of firms have been buying real estate for many years. It occurred to me that these types of firms were at least partially fueling the current housing recovery. So, I did some research … (3 comments)
housing recovery: More Evidence of a Housing Recovery in 2013
- 01/12/13 10:45 AM
Last week, I wrote a blog about the housing recovery and I cited expert opinion that indicates that we are in fact in a recovery. The blog entry was very well received. Of course there are negative fundamentals that detract from the positive news (such as shadow inventory, unemployment and lending guidelines). However, despite negative aspects on many market fronts in the wake of the fiscal cliff “resolution” (or lack thereof), the housing market recovery seems to be strong. In fact, the number of “improving markets” as identified by the National Association of Home Builders (NAHB) rose sharply this month to … (4 comments)
housing recovery: More Disturbing News Regarding Home Prices
- 06/17/11 06:43 PM
There is more disturbing news regarding the real estate industry and the anticipated turn around ion values. Many have predicted that the bottom has been reached and that prices will soon begin to rise – even by the end of this year. I have consistently maintained that values in certain areas will rise but that in general, values will continue to fall for quite some time. My opinion is based upon the realization that there is approximately 36 months’ worth of shadow inventory being held out of the market by lenders. This means that if not one new home comes into … (1 comments)
housing recovery: It's official..Housing Prices Worse than Reported by the Media
- 06/03/11 09:06 PM
As analysts, experts and the media have gleefully been predicting for months now, the housing market has officially double-dipped accord to Standard & Poor’s Case-Schiller Housing Index. Home prices have now hit a “new post-recession low” and are comparable to mid-2002 prices. Previously, the all-time post-recession low was logged in 2009. Managing director of Standard & Poor David Blitzer calls the numbers “horrifying,” but emphasized that “it’s focused damage.” He said that because of foreclosures being focused in certain areas of the country rather than having a uniform distribution, the national situation might not be quite as bad as the numbers … (3 comments)
housing recovery: Shadow Inventory Reports Indicate Recovery Still Far Away
- 03/29/11 06:53 PM
The shadow market is coming out of the shadows, and the numbers are staggering. According to a report released yesterday by LPS (Lender Processing Services), “foreclosure inventory levels [stand] at 30 times monthly foreclosure sales volume.” As a result of this massive backlog, real estate analysts expect more downward pressure on U.S. home values as most of these homes are likely to reenter the market as REO properties rather than being sold in another more profitable manner. The statistics on the foreclosure backlog are also staggering, with LPS reporting that the average U.S. loan currently in foreclosure has been delinquent for … (5 comments)
Author Bio: Paddy Deighan earned his Juris Doctorate and PhD Paddy consults with taxpayers in regard to tax liens, tax levies, tax levy, offer in compromise, tax debt, tax settlement
Housing statistics are easily misinterpreted. Additionally, some segments of the recovery may alter the overall statistics. Interesting information comes from Wolf Richter, via former White House budget director David Stockman. Obviously, it was not the weather suppressing sales for the 99% of homes. The top 1% of homes had astouding recovery statistices while the remaining 99% had lower sales volume.
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