Consumer bankruptcy filings ticked up in February, but so far the rise has slowed from 2010. The number of personal bankruptcy filings rose 11% to 102,686 in February compared to a month earlier, the American Bankruptcy Institute and the National Bankruptcy Research Center reported recently. “Though consumers are striving to reduce their debt burden, high […]
Why 2011 May Be the End of the Housing Crash
Simon Constable explains to Kelsey Hubbard how rising affordability of housing will be a key to a turnaround. Plus how to invest in housing without buying a home. Any thoughts or questions on this video? Use the comment link below to sound off. We’d love to hear from you.
Home Affordability Remains High
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the February 2011 edition of the Obama Administration’s Housing Scorecard. The latest housing figures show increased existing home sales as home affordability remains high, but officials caution that the market remains fragile, as prices are unsettled. “In the […]
Housing Affordability Best in Years
Economists at Moody’s Analytics say homes in many parts of the country are at their most affordable levels since before the housing boom took off in 2003, the Wall Street Journal reports. According to the Journal, housing affordability – comparing home prices to household incomes – has returned to its average levels from 1989 to […]
Fannie and Freddie to Fade Away?
The Obama administration is laying out three broad options for overhauling the mortgage lending system, but will let Congress make the final decision… What are your thoughts about the government doing away with Fannie Mae and Freddie Mac? We’d love to hear your opinion about this plan. Click the comment link below and sound off…
Appraisals Scuttling Home Sales
Some people interested in selling their home have had difficulty doing so, not because they haven’t been able to find a buyer, but because the bank’s appraiser says the home isn’t worth what the home was selling for. A number of recent reports have highlighted the difficulty many buyers and sellers are having with appraisals […]
U.S. Home Prices Fall to Pre-Bubble Levels
The drop in home values caused by the mortgage crisis has resulted in at least one positive outcome: Prices have fallen so far and so fast that home affordability is back to pre-housing boom levels, according to a new report. After reaching a peak in late 2005, the ratio of home prices to annual income […]
Housing Affordability Driving Sales Increase
Low mortgage rates and home prices helped fuel a sharp increase in home sales during the month of December, according to the National Association of Realtors. The group says existing-home sales during the month took place at an annual rate of 5.28 million, which was up more than 12 percent from the previous month as […]
Foreclosures Increase in Cities Nationwide in 2010
Driven by continued high levels of unemployment across many parts of the country, data from RealtyTrac shows foreclosure activity increased in many cities during last year, despite the fact that many lenders halted their foreclosure process for part of the year. According to the report, foreclosures increased in 149 of the 206 largest cities in […]
Pending Sales of Existing Homes Rise 2%
The number of contracts signed for purchases of previously owned homes rose again in December, according to data released recently by the National Association of Realtors (NAR). The trade group’s pending home sales index increased 2.0 percent compared to its November reading, which was revised downward. The index is based on contracts signed in December, […]