Posts Tagged ‘foreclosure’Bailout Treats Symptoms, Not DiseaseThis post first appeared on Minyanville and our sister site Dawn Patrol. The bailout is done! Time to breathe a sigh of relief. Or is it? As details emerge about the financial bailout package that was jammed through Congress over 10 days of political theater at its most nauseating, there’s still a striking omission from [...] A Housing Solution that Focuses on (Gasp!) HousesThis post first appeared on Minyanville and our sister site, Dawn Patrol. Every once in a while, the most important news story of the day is the one the Wall Street Journal allots a mere 200 words. In a move that will soon be greeted with quiet mutterings of “I should have seen this coming,” [...] HOPE when?Cirios Real Estate Washington’s war on foreclosures, the latest in a string of sycophantic attempts to sway public opinion back in the favor of the very regulators that turned a blind eye to rampant irresponsible lending, is now being waged with carefully crafted press releases. In the past two days, strikingly contradictory reports have emerged [...] Housing Inventory Eases, But No Recovery In SightThis post first appeared on Minyanville, and our sister site, Dawn Patrol. Another month, another attempt to use a single data point to foretell the bottom in the housing market. On the same day the Case Shiller Home Price Index reported the fastest drop in home prices on record (again), the Wall Street Journal released [...] New Countrywide Suit Tries To Foreclose ForeclosuresThis post first appeared on Minyanville. When Bank of America (BAC) agreed to buy Countrywide, it didn’t just take on a mountain of questionably valued mortgage-related assets. It also took on huge legal liability. San Diego City Attorney Mike Aguirre, who has a penchant for punitive lawsuits that rarely result in much more than a [...] House of the Day Results: Swinging into StantonClick here for details on this House of the Day. Value: $350,000 Projection: Depreciating The subject property is located in Orange County, which is experiencing a slump in the local economy due to the collapse of the mortgage market. In addition, the subject should expect to see further declines in value because it has only [...] Lone Voice Calls for Intelligent Mortgage ReformWhile Congress deliberates on the future of the nation’s mortgage market, some within the government are calling for restraint in regulatory reform. Housingwire.com reports William Emmons, an economist at the St. Louis Fed, is calling for patience and social support as the clearest way to economic recovery. Emmons makes the argument that government intervention, particularly [...] House of the Day Results: Stuck on StocktonClick here for details on this House of the Day Value: $120,000 Projection: Depreciating Stockton is arguably the most publicized declining real estate market in the United States. Foreclosure and REO (Real Estate Owner, or Bank Owned) activity is very high, and values have declined precipitously in the past 12 months. The subject’s neighborhood itself [...] House of the Day: Stuck on StocktonThis morning’s property’s is located in Stockton, CA — what more needs to be said? Guess the value by adding a comment at the bottom of this post. (Click for a large image) Home Details: – 1740 West Lane, Stockton, CA 95205 – 3 bedrooms – 1.5 bathrooms – 1,224 square feet – 0.23 acres [...] |