Saturday, November 26, 2011
Wednesday, November 16, 2011
Finally The Good Guys Get A Break!
Amplify’d from www.dsnews.com
Fannie and Freddie Detail New HARP Guidelines
Fannie Mae and Freddie Mac have released highly anticipated guidelines for the revised Home Affordable Refinance Program (HARP).
Both GSEs have posted details of the program modifications and procedural changes on their respective business sites for mortgage servicers to follow (Fannie’s, Freddie’s).
See this Amp at http://amplify.com/u/a1ian1
Monday, November 14, 2011
Why Capitalism Works Video!
Milton Freedom & Phil Donahue discussing Capitalism 30yrs ago.
See this Amp at http://amplify.com/u/a1i11e
Friday, October 21, 2011
How To Grow Your Wealth & Income Without Stock Market Risk!
A Best Kept Secret, finally comes to light for many Savvy Investors who are looking for a safer way and place to invest for Retirement!
Mathews Realty Group
Retirement Income Specialists
Self Direct IRA/Solo 401K Plans
Amplify’d from www.housingpredictor.com
Tax Free Real Estate Purchases Climb
Boosted by lower real estate prices and growing volatility in financial markets, investors are increasing their purchases of tax free real
estate investments. Investors are moving away from investing in equities in the stock market and other financials in growing numbers due to a chorus of concerns, including insider trading, automatic machine trading and criminal conduct.
Retired investors are shopping for higher returns and wider diversification to protect their assets from losses. The Investment Retirement Account (IRA) solo 401-K plan is an IRS approved retirement program created for self-employed investors.
See this Amp at http://amplify.com/u/a1f8lo
Wednesday, September 28, 2011
Beach Boys Still Smilin After All These Years!
The Beach Boys will always be one of my favorite groups of all time!
Matt Lewis & Co.
Vocalist, Musician, Entertainer
Amplify’d from www.rollingstone.com
In Capitol Records' giant Studio A in Los Angeles this summer, the surviving Beach Boys – Brian Wilson, Mike Love, Al Jardine and Bruce Johnston – gathered around a microphone and, for the first time in two decades, harmonized on a track. The song was, appropriately enough, a rerecording of their stomping 1968 hit "Do It Again." "Even the veteran sound engineers were moved," says Jardine. "Not all of us are left, but there are still enough of us for that vibration to come through."
See this Amp at http://amplify.com/u/a1dylz
Wednesday, September 14, 2011
How To Fix The Economy And Create Jobs!
The very thing that caused the Great Recession, doesn't seem to be on anyone's
priority list to fix. Yet, it is the only thing that can and will get this economy
moving in the right direction again.
Mathews Realty Group
Income Investment Consultants
Self Direct IRA/401K Specialists
Amplify’d from www.ajc.com
Housing industry problems dragging down economy
It barely rated a mention during either the president’s speech Thursday or the
Republican candidates’ debate the previous night.
Yet the moribund housing industry — and the record number of foreclosures tied
to it — have been critical factors in perpetuating this weak economy.
See this Amp at http://amplify.com/u/a1cupt
Friday, September 9, 2011
How To Refinance Millions of Mortgages At Today's Rates!
I don't know How - Do You? In order to refinance under current law you can't be in foreclosure and your home must be worth more (Equity), than what you owe!
It will be interesting to see just how they plan to pull this one off!
Mathews Realty Group
Investment Consultants
Income Retirement Specialists
Amplify’d from www.dsnews.com
Obama Pledges to Refinance Millions of Mortgages at Today's Rates
Obama told Congress that his administration is going to work with federal agencies to refinance millions of homeowners’ mortgages at today’s record-low rates.
See this Amp at http://amplify.com/u/a1cnsr
Tuesday, September 6, 2011
Let's Bail Them Out - Then Sue Them!
Let's settle for 10cents on the dollar and show the World that we mean business! You can't sue Congress who started this mess way back when, so let's go after the heavy hitters who made all of these bad loans Congress encouraged them to make. Yes, they are to blame, but the list of wrong doers in the collapse of the Housing Market, goes well beyond this list!!
Mathews Realty Group
Investment Consultant
Retirement Income Specialist
Self Direct IRA/Solo 401K Plans
Amplify’d from www.dsnews.com
FHFA vs. Mortgage Powerhouses: What Does It Mean for the Market?
It’s official. The Federal Housing Finance Agency (FHFA) has unleashed a barrage of lawsuits against Wall Street investment banks and major mortgage lenders.
The GSEs’ conservator is suing 17 financial institutions, as well as officers of the companies and unaffiliated underwriters, alleging violations of federal securities laws related to private-label mortgage bonds sold to Fannie Mae and Freddie Mac.
See this Amp at http://amplify.com/u/a1chsz
Friday, August 26, 2011
New Housing Refi Program That's Doomed From The Start!!
Here we go again!! Another stupid idea that has no chance for success! The downside would be catastrophic!!!
Mathews Realty Group
Amplify’d from www.dsnews.com
Government Officials Weigh New Refi Program
Word on the street is that the Obama administration is sizing up a new program to shore up and stimulate the housing market by providing millions of homeowners with new, lower interest, lower payment mortgage loans.
According to multiple media outlets, the initiative would allow borrowers with mortgages backed by Fannie Mae and Freddie Mac to refinance at today’s near record-low interest rates, close to the 4 percent mark, even if they are in negative equity or have bad marks on their credit.
See this Amp at http://amplify.com/u/a1bwf8
Friday, August 19, 2011
Newbie Property Investors Taking The Plunge
PLUNGE! A Great word and description for anyone who might be thinking about getting into this market. A word of caution, should be understood, before you jump in. Find a qualified Mentor who will share their expertise with you One on One! Not some get rich seminar Guru, who could care less about your success.
Mathews Realty Group
Investment Services
Self Direct IRA Specialists
Amplify’d from www.marketwatch.com
More first-time property investors in the market
One of the most common mistakes made by first-time property investors is submitting an unrealistically low offer, according to the ERA survey. Thirty-one percent of respondents said lowballing on the price is a first-time buyer’s most common misstep. Meanwhile, 23% said that the most common mistake was not calculating maintenance expenses versus rental income.
With rents on the rise, property prices at or near lows and favorable financing terms, more Americans are thinking it’s time to buy a rental property.
See this Amp at http://bit.ly/at9B89
Thursday, August 18, 2011
Smart Sensible Plan For Depressed Housing Market!
Finally, someone with a street smart, common sense plan to revive the housing
market. I've said all along that the only way to get the housing market back to stability is to loosen regulations and give the Investor an incentive to make a difference in the market. The only downside I see however, is with the Banks and Lenders, who up till now are the one's calling the shots. Without a "You Must Do This or else" clause in the bill, this program will do down in failure, just like all the rest!! RIP!!
Amplify’d from www.dsnews.com
New York Congressman to Propose Down Payment Subsidy
Addressing 3 million properties currently depressing the market, Ackerman proposes a subsidy of up to $20,000 for down payments on foreclosed homes bought by owner-occupants and a tax incentive for investors who purchase foreclosures for rental properties.
See this Amp at http://amplify.com/u/a1bhol
Tuesday, August 16, 2011
My Home Is My Castle! Not An Investment!
Owning a Home is perhaps the most rewarding decision one can make!
A Home is a place to live. Raise a family. It provides a sense of Pride and security for the long term. Today's Buyers, now more than ever, should never forget!!!
Mathews Realty Group
Amplify’d from firsttuesdayjournal.com
Homeownership: a piggy bank investment
It should come as no surprise in the current economic climate to hear that a professor of economics does not consider a home purchase to be a lucrative investment. But the assertion that purchasing a single family residence (SFR) has never been a sound investment could come as a shock to a nation that has always believed in the myriad virtues of homeownership — not the least of which has been the idea that if all else fails a profit may be turned by selling their home.
See this Amp at http://amplify.com/u/a1bbnf
Wednesday, August 10, 2011
Say Goodbye To Your 401K-Again!
I
Amplify’d from www.benefitspro.com
One step forward...volatility hits 401(k) plans
Just when they thought it was safe to go back in the water, many 401(k) investors who were regaining their comfort level with the stock market took another hit.
See this Amp at http://amplify.com/u/a1ajr4
Monday, August 8, 2011
Fannie & Freddie May Be Your New Landlord!
Dear Senator Reed
Good intentions - Ridiculous and pardon my language, Stupid idea.
Sincerely,
Mathews Realty Group
Amplify’d from www.dsnews.com
Senator Reed Urges FHFA to Require GSEs to Rent Foreclosed Properties
Senator Jack Reed (D-Rhode Island) has sent a letter to the director of the Federal Housing Finance Agency (FHFA) recommending the agency require Fannie Mae and Freddie Mac rent out foreclosed properties rather than immediately attempting to sell them at bargain prices.
See this Amp at http://amplify.com/u/a1adle
Hollywood Setting Stage For Bin Laden Flick!
Amplify’d from content.usatoday.com
Obama campaign to get big-screen bin Laden boost?
And it's going to be released less than a month before Election Day 2012.
See this Amp at http://amplify.com/u/a1adjd
Friday, August 5, 2011
Fannie Mae Needs More Tax Payer $$!
The never ending saga continues for Fannie Mae and Freddie Mac! How long can we keep bailing them out? The Quote this time is: "Things will get better by 2012"? Some how, I find that hard to believe, when 7 million homes are currently in foreclosure with millions more sitting on the books of all the major financial institutions! The so called Bank Owned - "Shadow Inventory".
Mathews Realty Group
Amplify’d from www.bizjournals.com
National mortgage financing company Fannie Mae ended the second quarter with a negative net worth of $5.1 billion and posted a $2.9 billion loss as more loans on its books went bad.
See this Amp at http://amplify.com/u/a1aas9
Thursday, August 4, 2011
Mortgage Rates & Home Ownership Myth!
This is an excellent article showing the correlation between today's current mortgage rates, home prices and home ownership affordability. Not since the 1950's has buying a home been more favorable.
Mathews Realty Group
Investment Advisory Services
Self Direct Income Investment Specialists
Amplify’d from seekingalpha.com
U.S. Real Estate Market: End of an Era
Not a day goes by without some guru on CNBC complaining about how difficult it is to qualify for a mortgage these days. That is total baloney. The documentation and verification may be cumbersome, but loans have never been easier to qualify for.
We have reached the end of an era of the real estate market as we have known it. What eventually emerges from the other side is anyone's guess.
See this Amp at http://amplify.com/u/a1a9gi
Tuesday, August 2, 2011
Five Year Lease Agreement to Rent Your Own Foreclosure?
Yes it's true!! And we wonder why it took so long to raise the debt ceiling. This is perhaps the most ridiculous idea I have yet! It seems that no one ever considers the downside when they come up with these band aid fixes. Stupid!, Stupid!, Stupid!
Mathews Realty Group
Cash Flow Property Investments
Self Direct IRA/401K Purchase Plans
Amplify’d from www.dsnews.com
Bill Introduced to Support Foreclosure Rentals
The Neighborhood Preservation Act (H.R. 2636) would authorize FDIC-member banks, Fannie Mae, and Freddie Mac to enter into five-year lease agreements to rent REO properties back to the foreclosed homeowner or another individual.
News surfaced last month that the administration was considering such a policy for Fannie and Freddie. Now, Rep. Miller wants to enact it with legislation.
See this Amp at http://amplify.com/u/a1a6ur
Thursday, July 21, 2011
Foreclosures Take A Turn For The Worst!
Just when you think the housing market may be getting better, the real facts emerge. For the past 5yrs all I have seen in the news are the so-called guru's making predictions that for the most part are really just made up stories that have no real factual basis. Buy Now! are words that, when heard, should make you run for the exit. Don't get me wrong!! The American Dream is still alive and well! Which is why - If you are thinking about buying a home, or investment property, you must first. Seek out a professional who never uses those two nasty words. Otherwise, that Dream Home may just turn into a Nightmare!!
Mathews Realty Group
Investment Services
Retirement Planning Specialists
Amplify’d from www.dsnews.com
Mortgage Delinquency Rate Climbs, Foreclosure Numbers Head Higher
Lender Processing Services (LPS) says data it’s collected through the end of June show an abrupt increase in the industry’s mortgage delinquency rate and a smaller uptick in the national foreclosure inventory.
Altogether, LPS says there are some 6,452,000 mortgages going unpaid in the United States.
See this Amp at http://amplify.com/u/a18yrr
Left, Right, Center, Which Is It Mr. President?
Great Ben Stein commentary!
Amplify’d from www.latechbbb.com
See this Amp at http://amplify.com/u/a18xzm
How To Become A Politician! Tell Them What They Want To Hear.
Excellent article everyone should take the time to read. Especially, if you have any aspirations of getting into politics.
Mathews Realty Group
Investment Services
Retirement Planning Specialists
Amplify’d from www.thestreet.com
10 Myths That Politicians Want You to Believe
NEW YORK (TheStreet) -- The financial system is on the brink of collapse after trillions in bad loans were issued by greedy bankers. If you were a U.S. political figure, would you:
See this Amp at http://amplify.com/u/a18xgj
Tuesday, July 19, 2011
Cobun's Plan Is a Pipe Dream!
I love this plan, but you and I both know, It's Dead on Arrival! At least, most of it. Then again, If the good ole USA, becomes Greece, It may be the only option?
Mathews Realty Group
Investment Advisor
Retirement Planning Specialists
Amplify’d from www.benefitspro.com
Coburn proposes $9 trillion deficit cut measure
WASHINGTON (AP) — One of the Senate's staunchest budget-cutters unveiled Monday a massive plan to cut the nation's deficit by $9 trillion over the coming decade.
See this Amp at http://amplify.com/u/a18k93
Tuesday, July 12, 2011
What If The Debt Ceiling Doesn't Get Raised? Flip A Coin!
I think most of the general public is totally feed up with all the BS about the debt ceiling! According to the Insiders-There is plenty of revenue coming in to meet all the Gov. obligations in the short term. What side of the coin are you on?
Mathews Realty Group
Agent/Adivor Investment Services
Self Direct IRA/401K Specialists
Amplify’d from www.benefitspro.com
Obama, Republicans trapped by inflexible rhetoric
WASHINGTON (AP) — In unusually blunt and combative language, the Senate's top Republican says White House offers to cut long-term spending amount to "smoke and mirrors" and directly challenged President Barack Obama's leadership in debt limit negotiations.
Senate Republican leader Mitch McConnell charged Tuesday that Democrats and the Obama administration were relying on budget gimmicks to give the "appearance of serious belt-tightening."
See this Amp at http://amplify.com/u/a17pf0
Getting Even With Your Lender! Just Walk Away
The longer this Recession continues on, the more in agreement I become with a Strategic Default Decision. Sooner or later the Morality issue becomes a mute point. "I pay my mortgage on time - I've never been late or missed a payment" So Mr. Banker, how will you help me change my mind about walking away from my home? What do you mean you don't care? Sad but True!!!!
Mathews Realty Group
Amplify’d from firsttuesdayjournal.com
Strategic default smarts
35% of mortgage defaults in September 2010 were strategic, an increase from the 26% more than a year earlier in March 2009 according to a University of Chicago Booth School of Business study. 22.5% of residential mortgage defaults nationwide were strategic in the third quarter of 2010. This number increased to 23.1% in the fourth quarter of the same year.
In negative-equity-laden California, strategic defaults are also widespread (more so than the nation as a whole since California is a nonrecourse state and lenders cannot viably threaten to sue for their losses). There were 45,380 strategic defaults in 2009 – 80 times the number in 2005. [For more information on the strategic default trend, see the August 2010 first tuesday article, Fannie Mae, our government and strategic defaults.]
Paying lenders the full amount on an underwater home is not what is going to fuel the recovery of a family or the California economy — what we need is to put cash in the hands of negative equity Californians. If they aren’t going to get any cramdowns in bankruptcy courts, they need to exercise their legal right to strategically default — that “put option” in every trust deed. Besides, it’s what all the smart people are doing anyway, right?
See this Amp at http://amplify.com/u/a17ooo
Ca. Split? An Idea Long Over Due!
A Great Idea, if for no other reason than to make a point that Southern California is sick and tired of being told how and what to do by all the Left Wing Liberals in Northern Ca. Although a 51st SoCal State may seem remote, maybe it's time for a new SoCal Tea Party movement, to make it a reality. Worth a shot-Don't you think?
Mathews Realty Group
South California Conservative
See this Amp at http://amplify.com/u/a17oiw
Wednesday, June 1, 2011
Housing Double Dip - Alive And Well!!
It's taken almost a year and a half for all the leading economic expert guru's in this Country to see and confirm what We - The professionals, on the street, saw coming back in 2009. California, has been in a double dip since that time. Anyone who bought a home here in Ca. as well as many other States across the nation, over the past two years with less than 20% down payment, is now upside down in their mortgage. Finding stability in this market over the short term is wishful thinking. The Smart Savvy Buyers who waited until now to purchase a home will reap he greatest reward over the long term.
Mathews Realty Group
Investment Advisor/Retirement Specialist
Self Direct Your IRA into Real Estate!
Amplify’d from www.dsnews.com
Economists Weigh in on Home Price Double-Dip
The analysts at S&P say there appears to be no relief in sight as home prices continue their downward spiral.
Paul Dales, senior U.S. economist for the research firm Capital Economics says the further fall in house prices during the first quarter means that “on the Case-Shiller index, prices have now fallen by more than they did during the Great Depression.”
And should patterns continue to hold true, Dales notes that following the Depression, “the peak in prices was not regained until 19 years after they first fell.”
“The remarkable thing about this downturn is that even though prices have fallen by more than in the Great Depression, the bottom has yet to be reached,” Dales said. “We think that prices will fall by at least a further 3 percent this year, and perhaps even further next year.”
See this Amp at http://amplify.com/u/a149h9
Tuesday, May 24, 2011
First Time Homebuyers In Short Supl
Amplify’d from www.dsnews.com
Survey Finds First-Time Buyers in Short Supply to Absorb Distress
First-time homebuyers – a segment that typically targets distressed homes – currently make up just one-third of the market. While this is what would be considered their “normal” market share, it falls short of what’s needed to offset the large volume of distressed properties coming down the line, according to the research firm Campbell Surveys.
Survey respondents in April reported that potential first-time homebuyers are having trouble finding foreclosed homes in move-in ready condition.
Fifty-five percent of damaged foreclosed properties were bought by investors in the month of April, while only 27 percent were bought by first-time homebuyers, according to the HousingPulse Survey.
See this Amp at http://amplify.com/u/a13ug3
Monday, May 23, 2011
The Housing Markets Hold On Economy!
Without a healthy (at least stable), real estate market, economic uncertainty will prevail. The latest statistics show that for every home sold - Two more go into foreclosure. The only thing that can save this market is JOBS! Period!!!
Mathews Realty Group
Retirement Planning
Investment Services
Amplify’d from www.advisorone.com
Why Is Economy Faltering? Conference Board's Goldstein Explains the Drivers
The four factors most responsible for dragging down economic performance last month was a rise in new jobless claims; a decline in average weekly hours; slower delivery of manufacturing supplies; and a decline in building permits for new private housing units.
On May 17 the Commerce Department reported that construction of new homes and apartments fell 10.6% in April to an annualized rate of 523,000, down nearly 24% from the same time last year.
“Housing is the last leg over the fence as far as the economy is concerned,” he said.
See this Amp at http://amplify.com/u/a13t68
Thursday, May 19, 2011
The Retirement Myth!
In 1964, a Dollar was worth a Dollar in purchasing power. Since then, personal income levels have not kept pace with inflation. For most Seniors, making up a lost decade of wealth to retire comfortably isn't in the cards, sorry to say!!!
Mathews Realty Group
Retirement Planning/Investment Services
"Self Direct IRA" Income Plans
Amplify’d from www.benefitspro.com
Seniors lost 32 percent of their buying power since 2000
A majority of those receiving Social Security depend on it for at least 50 percent of their income in retirement
Since 2000, senior citizens have lost almost one-third of their buying power, according to the Annual Survey of Senior Costs, released recently by The Senior Citizens League (TSCL), one of the nation's largest nonpartisan senior advocacy groups.
A majority of the 37 million Americans aged 65 and over who receive a Social Security check depend on it for at least 50 percent of their total income, and one in three beneficiaries rely on it for 90 percent or more of their total income.
See this Amp at http://amplify.com/u/a13esk
Tuesday, May 17, 2011
Home Buyers Need To Know New FHA Rules!
The old days and ways of buying a home are long gone! When shopping for a Home today, buyers need to be educated and aware of all the new rules and regulations involved when purchasing a home. The most important being; "Show Me The Money" First!
Mathews Realty Group
Investment Services/Retirement Planning
Amplify’d from firsttuesdayjournal.com
Higher FHA-insured loan costs push homebuyers to prowl the market
Annual default premiums (MIPs) on 30-year Federal Housing Administration (FHA)-insured loans for homebuyers with less than 5% down payment rose to 1.1 or 1.15% of the home value from 0.85 or 0.9%, effective April 18, 2011. For a homebuyer paying the minimum 3.5% down payment on a $400,000 home, the FHA’s recent increase in MIPs adds $83 to his monthly payment to the lender. Homebuyers who make down payments of at least 5% can obtain better rates with private mortgage insurance (PMI) companies whose insurance premiums decrease for higher down payments.
In California, lenders are also required to deliver homebuyers a Department of Real Estate (DRE) mortgage loan disclosure statement (MLDS), which includes additional information on top of the GFE. [See first tuesday Form 204, 204-1 and 204-2.]
See this Amp at http://amplify.com/u/a137r6
Tuesday, May 10, 2011
Home Prices To Stabilize By Third Quarter!
Another Crystal Ball? At least this one is backed up with factual realities!
Amplify’d from www.dsnews.com
Fiserv Expects Affordability from Declining Prices to Stabilize Housing
Fiserv, Inc. on Monday released an analysis of home price trends in more than 375 U.S. markets. While residential property values are continuing to fall on a year-over-year-basis in three-quarters of the metros covered in the study, Fiserv sees signs of stabilization on the horizon.
Based on its analysis of the Fiserv Case-Shiller Indexes and data from the Federal Housing Finance Agency, the Wisconsin-based information and technology provider reports that home prices in the fourth quarter of 2010 continued the double-dip that started in the summer of last year following the expiration of the homebuyer tax credit.
See this Amp at http://amplify.com/u/a127ag
Monday, May 9, 2011
No End In Sight For HUD REO'S!
This is what happens when you take a band aid off of a wound that hasn't healed yet! All the Government Programs and all the money spent, trying to stop the bleeding in the Housing Market, has failed miserably. While the Banks and the Fat Cats on Wall Street keep getting richer, the average Joe The Plumber, Home Owner, will soon be out on the street, looking for another place to live.
Mathews Realty Group
Real Estate Investment Services
"Building Lifestyle For Life"
Amplify’d from www.dsnews.com
HUD's Inventory of REOs More Than Double a Year Ago
HUD has released a report detailing recent business activity at the Federal Housing Administration (FHA). It shows that the federal agency’s inventory of REO homes has ballooned as sales from this portfolio fell sharply during the final months of 2010 and early part of this year.
HUD manages the disposition of homes with FHA loans that have been repossessed.
The cumulative number of defaults reported on FHA-insured loans for the 2011 fiscal year, which for the federal agency began last October, stood at 619,712 as of the end of February.
See this Amp at http://amplify.com/u/a11y24
Yucaipa Ca. Still A Buyers Market!
Amplify’d from www.altosresearch.com
YUCAIPA Real Estate Market Today
Price Trends
The median single family home price as of May 08 2011
for YUCAIPA is $227,627.
Explain this
YUCAIPA Condo reports and zip-code level detail
available for all subscribers. Subscribe today!
Market Conditions
With a Market Action Index as of May 08 2011 at 18.60, YUCAIPA is
currently a buyer's market.
Explain this
Sales and Demand Trends
The average property in YUCAIPA as of May 08 2011 has been on the market for about 150 days.
Explain this
Price Per Square Foot
The median price per square foot for homes in YUCAIPA
as of May 08 2011 is about $114.
Explain this
Homes for Sale
There are about 286 properties on the
market in YUCAIPA as of May 08 2011.
Explain this
See this Amp at http://amplify.com/u/a11xwb
Thursday, April 28, 2011
Public Pension Shortfall Hits a Trillion
Underfunded pension plans have been the norm for as long as I can remember. Most people don't realize that fact, however, until it's too late. Now might be a good time to check up on your employer -Public or Private!
Mathews Realty Group
"Building Lifestyles For Life"
Amplify’d from www.benefitspro.com
Pew: States' retirement shortfall exceeds $1.26 trillion
The gap between the promises states have made for public employees' retirement benefits and the money they have set aside grew to at least $1.26 trillion in fiscal year 2009, resulting in a 26 percent increase in one year, according to a report released Tuesday by the Pew Center on the States.
"In many states, the bill for public sector retirement benefits already threatens strained budgets, and is competing for resources with other critical needs, including education, infrastructure and health care," said Susan Urahn, managing director for Pew Center on the States in a press release. "The $1.26 trillion shortfall for pensions and retiree health care will drive up annual costs and make already tough budget decisions even tougher."
See this Amp at http://amplify.com/u/b10ra4
Bad News is Great News For Buyers!
The average medium home price across the US is back to what they were in 2003! If you count all the Homes that sit vacant and all the Shadow Inventory still waiting to come to market, you end up with a number close to 7 million.
Amplify’d from www.dsnews.com
Housing Crisis Continues to Batter Nation's Homeownership Rate
With the housing crisis still taking its toll, the nation’s homeownership rate slipped further during the first three months of this year.
The U.S. Census Bureau reported Wednesday that the homeownership rate dropped to 66.4 percent at the end of the first quarter. It’s fallen back to a level not seen since 1998. Analysis of the numbers shows that the housing bust has more than reversed the increase in homeownership gained during the boom.
Two million of the homes up for sale were sitting empty during the first quarter and another 4 million empty properties were not even listed, he explained.
See this Amp at http://amplify.com/u/b10qz2
Wednesday, April 27, 2011
Housing Recovery In Calif.- Not Yet!
Mathews Realty Group
Retirement Advisor/Investment Services
Self Direct IRA/Solo 401K Plan Specialist
Amplify’d from www.doctorhousingbubble.com
The reason I think we are still years away from any normal market is the fact that there is still a large appetite for housing. The current market is now dominated by investors and first time buyers. These buyers are picking lower priced properties but again, a bulk of these people are speculating even for cash flow purposes. Psychologically assessing the market I believe sentiment is still too strong in some areas. The bottom will come when people look at homes more as a place to live instead of an investment. The California market is facing challenges ahead:
The only things keeping this market together is artificial methods of intervention like the Federal Reserve and accounting gimmicks. These actions have kept the above data stagnant for a year but how long can this game of pretend go on? If incomes are not rising then how are households going to pay for their home? What if mortgage rates start retreating to their more historical average? Ultimately incomes have to go up or home prices have to go down.
See this Amp at http://amplify.com/u/b10kea
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