Michael Hobbs's (michaelhobbs) Blog

    Sometimes it’s worthwhile to take a step back to go forward. In this case, I’m thinking good old fashion Econ 101.  If demand rises (and surely there has been evidence that demand is rising, and supply does not substantially change, what happens to price?   It will come as no surprise that fo...

    Friday was a big day in the world of government-backed mortgages, as an announcement was made by to speed up the wind down of Fannie Mae and Freddie Mac.   According to an article in DSNEWS, “In addition to reducing the GSEs’ mortgage portfolios in a more timely manner, these modifications ar...

  A few less Americans were able to purchase their home and fulfill the purported American Dream according to the National Association of Home Builders. Nearly 74% of the new and existing homes sold in the three months ended June 30 were affordable to families who earn the national median income ...

  Data from the National Association of Home Builders showed that the United States homebuilders’ sentiment rose in August to its highest level since February 2007.  Given the protracted respite which builders have endured, an acceptable question to ask may be, are builders cautiously optimistic ...

  In the latest press release, The Federal Open Market Committee said it would keep interest rates low at least through 2014. The target rate of funds will remain between 0% and 0.25% for the next two years, as it has been since the financial crisis in 2008. This did not come as a surprise, as it...

  The last bastion of economic recession in the housing market, the foreclosure crisis, may finally be showing signs of weakness.  When looking at the relative balance of rent supply and rent demand, given that the shadow inventory of REOs have declined, it appears that the reduction in homeowner...

  Although we’re have a year away from Groundhog day, maybe The Housing Market saw its shadow and someone snapped a photo with their cellphone to tell the rest of the Americans who missed out.    Apparently in a recent article, Spencer Rascoff, CEO of Zillow, stepped out to say The Housing Market...

  Fannie Mae reported a $5.1 billion second-quarter profit; it’s largest since being taken over by the government in 2008. The gain followed a $2.7 billion profit in the first quarter and a $2.9 billion loss in 2011's second quarter. By comparison, in the same quarter a year-ago, Fannie added $6....

Depending on who you talk to right now the nation is experiencing a shortage in housing inventory. According to Lawrence Yun in the August issue of the Realtor magazine, the inventory nationwide was at 2.49 million units which was a huge drop from 4.5 million units when the inventory was at its p...

With an amazing display of athleticism and patriotism drawing to an end in London for the 2012 Olympics, the rest of the world looks on in awe, amazement and admiration.  For anyone who has ever competed in a sport, you cannot help but be in a state of awe by what a competitive man or woman has a...