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“- Real-estate broker Ronnie Diamonde expected the three-bedroom apartment in New Yorks Financial District, listed in August for $1.64 million and seen by 145 potential buyers, to sell in eight weeks.”
” The House of Representatives today voted 300-114 in favor of HR 1728, the Mortgage Reform and Anti-Predatory Lending Act, which calls for tighter lending rules to promote affordable mortgages for borrowers with a reasonable ability to pay and who receive more transparent disclosures at the time of closing.”
Press Release: Stress Test Results
“The results of a comprehensive, forward-looking assessment of the financial conditions of the nation’s 19 largest bank holding companies (BHCs) by the federal bank supervisory agencies were released on Thursday.”
Subprime lobbyists in $370m battle
“The top 25 US originators of subprime mortgages the risky assets that sparked the global financial crisis spent almost $370m in Washington over the past decade on lobbying and campaign donations as they tried to ward off tighter regulation of their industry, an investigation has shown.”
Well just refinance strategy backfires on jumbo mortgages too
“A lot of subprime borrowers found their “Well just finance in a couple of years when the house appreciates” strategy backfired on them. Increasing numbers of jumbo purchasers are finding themselves in the same boat”
Manhattan Financial District Apartments Get Deepest Price Cuts
“The Financial District suffered the deepest price cuts in Manhattan in the first quarter as securities firms shed more than 180,000 jobs in the Americas. Manhattan apartment sales fell 48 percent from a year earlier, real-estate appraiser Miller Samuel Inc. said. Sellers lowered prices on almost a third of condo or co-op listings by an average of 11 percent in the Financial District, …”
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Reversion to the Mean: Real Estate to Fall Another 20 Percent Lots of people are making big bets, even betting with borrowed money at risk to their personal credit report (e.g. taking out a home loan on investment properties), on the long term direction of the real estate market. Real estate is always influenced by local trends, but on a...... -
Why Are So Many Mainstream Media Websites Saying Real Estate is a Bargain I occasionally wonder if some publishers are pushing an agenda, or if they don't follow the trends closely enough before they give advice to us common folk. I say this because many of the well respected finance websites I frequent have been increasingly hyping real estate as if it were...... -
The Mortgage Crisis and Investments in Real Estate According to regional and state real estate analysts, the factors which previously fueled the housing boom of the last few years are easy to explain. The factors that fueled this boom in the real instate industry ranged significantly, including: - Interest rates that were historically low. - Flight-Risk Safety Investments...... -
Is It Still A Good Time To Invest In Real Estate? Well, it depends on a lot of factors. Like where you're investing. There's a really good site called Housing Tracker that tracks the inventory and median home price for major cities. It has a pretty simple interface and its a great resource. Looking at Los Angeles I saw the inventory...... -
Real Estate Investments - Good Idea or Bad Idea? Right now, if there was a market that had bad news written all over it, it would be real estate. The housing crisis has made investors jumpy, the economy appears to be tanking and home values are plummeting across the country. Would you believe that this is actually a good......
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