Foreclosures fall — for now According to RealtyTrac, foreclosure filings fell by 8% in November, making it the fourth consecutive month of improvement in the housing market. There were 306,627 filings last month, a decline that follows a 3% drop in October, 4% in September and 1% in August. “Loan modifications and other foreclosure prevention… Read More
Obama Calls for More Leverage and More Debt On Path Towards …
September 6, 2010 By Leave a Comment
“A phenomenal amount of wealth has been erased since the housing bust,” Stan Humphries, the chief economist for Seattle-based Zillow, said Tuesday in an interview. “For many households, most of their wealth is tied up in real estate.” ….. “It’s really finally dawning on banks that they’re better off with a short sale,” said Richard Green, director of the Lusk Center for Real Estate at the University of Southern California in Los Angeles. “I think banks were in denial. …
Speaking of That: Economic Roundup: Featuring, Obama's Leveraging …
September 6, 2010 By Leave a Comment
“A phenomenal amount of wealth has been erased since the housing bust,” Stan Humphries, the chief economist for Seattle-based Zillow, said Tuesday in an interview. “For many households, most of their wealth is tied up in real estate.” ….. Even after he had an offer of $155000 for the property, it took five months for the San Francisco-based lender to approve the purchase, a so-called short sale, in which the bank accepts less than the balance owed on a property. …
Review of Financial Markets: The Call from Obama is for more …
September 6, 2010 By Leave a Comment
“A phenomenal amount of wealth has been erased since the housing bust,” Stan Humphries, the chief economist for Seattle-based Zillow, said Tuesday in an interview. “For many households, most of their wealth is tied up in real estate.” ….. Short sales almost tripled to 40000 in the first six months of 2009 from the same period a year earlier. Yet for each short sale, there were 25 foreclosures started or completed in the first half of this year, according to data from …
