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The term shadow inventory has become quite a buzz word over the past couple years, representing all that is uncertain and scary in this housing market. But shedding light on that shadow inventory is what is needed to face the true scope of the problem and remove all the uncertainty surrounding it. I...
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In Foreclosure Settlement Talks With Banks, Predictions of a Long Process March 30, 2011, New York Times Little was settled in the first round of foreclosure settlement talks. The nation’s top mortgage servicers met Wednesday in Washington with the attorneys general from five states as well as...
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Banks' Plans for Foreclosed Homes Will Drive Market September 13, 2010, Wall Street Journal The speed at which house prices fall over the next few months could depend less on mortgage rates and Americans' appetite for home buying than on how banks decide to manage the huge number of foreclosed...
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Pending Sales of Existing U.S. Homes Decrease 2.6% Bloomberg, August 3, 2010 The number of contracts to purchase previously owned houses unexpectedly fell in June, indicating demand kept unraveling after the expiration of a homebuyer tax credit. The index of pending home resales dropped 2.6 percent from...
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Condos for Less Than the Cost of a Corolla CNN Money.com, August 2, 2010 The housing bust has made owning a home a lot more affordable -- but in some places, prices are extraordinary; you can buy a nice condo for less than the cost of a new family car. Some cities have dozens of attractive condominium...
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Toll Brothers Forms Distressed Real Estate Business Bloomberg News, July 19, 2010 Toll Brothers Inc., the largest luxury U.S. homebuilder, formed a subsidiary to invest in distressed real estate. Toll created Gibraltar Capital and Asset Management LLC to “pursue a broad range of real estate acquisition...
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Biggest Defaulters on Mortgages Are the Rich New York Times, July 9, 2010 No need for tears, but the well-off are losing their master suites and saying goodbye to their wine cellars. The housing bust that began among the working class in remote subdivisions and quickly progressed to the suburban middle...
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Misguided Housing Subsidies Promote Unfairness, Bailouts June 22, 2010, USA TODAY If there are two things that middle-class taxpayers who behave responsibly don't like, they are (1) having their money go to irresponsible people, and (2) having their money go to richer people. Existing Home Sales...
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Political Tide Turns Against Aggressive Mortgage-Modifications April 14, 2010, Wall Street Journal Republicans used Tuesday’s hearing of the House Financial Services Committee as an occasion to fulminate against what they see as the unfairness of many programs to avert foreclosures. That was no...
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Home Prices Post Smallest Annual Decline in 3 yrs March 30, 2010, The Associated Press Home prices showed the smallest annual decline in almost three years in January, indicating there are surprising areas of strength in the housing market. The Standard & Poor's/Case-Shiller 20-city home price...