Archive for April, 2009
Robert Shiller on Mortgage Risk
Robert Shiller talked with the McKinsey Quarterly about the housing market recently and covered some wide ranging topics on the United States financial and mortgage markets.
One of the key points that Shiller made was that our criteria for writing mortgages was a mess. I agree with him.
When the mortgage instrument gained popularity, the contract was [...]
Chinese Drywall Corrodes Pipes and Blackens Jewelry, Sickens Families
The housing boom created a need for more drywall, so suppliers went to China to get it. This may have been a huge mistake:
Now that decision is haunting hundreds of homeowners and apartment dwellers who are concerned that the wallboard gives off fumes that can corrode copper pipes, blacken jewelry and silverware, and possibly sicken [...]
14Apr2009 | Tom Royce | 8 comments | Continued
Homeless Groups Organizing Squatters To Take Foreclosures
Yes there are a great deal of foreclosures in the country, but the lawless action of homeless advocacy organizations is breathtaking.
They are now publicly organizing the theft of property by putting homeless families into foreclosed homes. Now do not get me wrong, I do feel for the homeless families and their plight. However, they [...]
New Jersey Loses One Third of Real Estate Agents In 2008
New Jersey is losing real estate agents quickly these days. In 2008, they lost a third of the agents working the streets. And that is after losing 17 percent of the agents in 2006 and 2007.
According to my rough math, that would mean that there are only 46 percent of the agents working that [...]
Contractor Builds Million Dollar Business Card
While this may seem a little over the top, it makes a great deal of sense. John Johanson wanted to showcase the quality of his remodeling work, so he built a 3,000 square foot house.
The home has won awards for the quality of it’s workmanship and in the process getting noticed in the media. [...]
Half Of Housing Grant Money Goes Towards Foreclosure Purchases
The surplus of housing has been a problem for the past few years. That has led to declining prices and a rash of foreclosures. The federal government approved a program last year to buy up foreclosures and it has finally announced that half of the 4 billion dollars approved will actually go to buying foreclosures. [...]
11Apr2009 | Tom Royce | 5 comments | Continued
One in Nine Homes Are Vacant in the United States
What an amazing statistic, 1 in 9 homes across the United States are sitting empty. That my friends is the housing glut, and until those numbers come down, housing prices are going to have a very hard time coming up.
We may have hit bottom in some of the earliest hit states, but overall the problem still is [...]
Black Swan Proofing For Real Estate
Nassim Nicholas Taleb has written a brilliant article for the Financial Times named Ten Principles for a Black Swan Proof World.
I have excerpted 2 of the 10 precepts but they should be mandatory for anyone in business or finance.
2. No socialisation of losses and privatisation of gains. Whatever may need to be bailed [...]
9Apr2009 | Tom Royce | 1 comment | Continued
How Families Sending Kids To College Are Hurt By Housing Crisis
Rising tuitions always had an outlet, rising property values and second mortgages. But the property values stopped rising and the banks stopped giving second mortgages.
And the colleges are getting scared. Here is the president of the Student Financial Aid Administrator discussing the issue.
“With so many people up against the wall with declining home [...]
9Apr2009 | Tom Royce | 3 comments | Continued
7% of Homeowners and 40% of Subprime Homeowners 30 Days Behind on Mortgage
The optimism I am hearing the on the street about home sales picking up in the past few weeks has been tempered by the scary numbers that Equifax is reporting.
It looks like the quantity and velocity of foreclosures is not abating anytime soon if these numbers continue.
Dann Adams, president of U.S. Information Systems [...]
8Apr2009 | Tom Royce | 1 comment | Continued
Living in Missouri for such a long time, I am shocked that no Missouri cities have made the list... Apparently ...
omg where is maine? Like a lot of cities in Maine are pretty safe. Cept portland lewiston or agusta yaknow 
The real estate fee of 6% is the most deceptive pricing method in the world. Only 30% of homeowners have ...
I Have been in correspondance with one of these scammers from Craigslist. I did locate the home in question on ...
Our company posts regularly on ActiveRain, and one of the things we try to concentrate on for sure is having ...
A house of beautiful architecture and well built so turned upside down. How sad. My condolences to the owner. 
Money management is key. Will these properties be selling short? 
As a therapist in Spokane WA, I can appreciate this idea of pushing more pet friendly realestate. I have ...
