And the lawsuits continue. Bank of America is officially going to take the lead as the most sued bank of all time. Congrats guys.
Enough with this depressing stuff. Here’s the good news. We see a hot real estate summer coming our way. We’ve been saying this for a while now and the numbers keep pointing to it.
Pending home sales rose 3.4% in March. Economists expected only a 1% increase.
http://thenationalrealestatepost.com/loan-officer-gets-30-years
Tune into today’s show and see how between the GSE’s and the CFPB bankers are damned if they do and damned if they don’t when it comes to starting a foreclosure. The GSE’s have their rules and the CFPB has their’s and guess what? They pretty much don’t line up. What a surprise right?
http://thenationalrealestatepost.com/yet-another-reason-for-higher-rates
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Shared by https://plus.google.com/u/0/photos/100359576452319376273
Pyramids, Cairo Egypt
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Many fiscal conservatives and Republicans oppose the heavy hand government will play under Johnson-Crapo.More than two dozen free market organizations including the Competitive Enterprise Institute, the National Taxpayers Union, and the Club for Growth oppose the Johnson-Crapo bill. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/29824-senate-delays-johnson-crapo-housing-reform-indefinitely
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The homeownership rate for all Americans peaked at 69.2% in June 2004, according to the Census Bureau.
"The deferral of marriage has such a staggering impact on real estate and I just don’t think people focus on it," Zell said at the Milken Institute Global Conference in Beverly Hills, Calif. "I don’t think the multifamily market has ever had a better set of future demographics." - Bloomberg News
http://www.nationalmortgagenews.com/news/origination/homeownership-rate-declines-to-the-lowest-since-1995
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Shared by Susanne Stelle, Luther church, Krefeld, Germany
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4 Variables Buyers Felt Left in the Dark About
Each one was related to money. -- Brena Swanson in HousingWire
http://www.housingwire.com/articles/29835-variables-buyers-felt-left-in-the-dark-about
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Reverse mortgage:
Under the new regulation, when a reverse mortgage borrower dies or moves out, a spouse who is not listed as a borrower will be allowed to remain in the home provided certain conditions are met. To account for the risk that a younger surviving spouse will fall behind on property taxes or homeowners insurance, or stay in the home a long time, HUD is reducing the proceeds a borrower can extract from the home. -- Brad Finkelstein in National Mortgage News http://www.nationalmortgagenews.com/news/origination/rule-spells-short-term-pain-long-term-gain-for-reverse-mortgages
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Shared by M. Freidrich,
Belgien - Brūgge
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Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 0.1 percent in the first quarter (that is, from the fourth quarter of 2013 to the first quarter of 2014), according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.6 percent. -- Lisa Mataloni in BEA News Releasehttp://links.govdelivery.com/track
-------------------------------------------------The Federal Reserve continues to slow it's purchasing of mortgage backed securities. It is now at $20/month. -- Federal Reserve Bank of New York
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Shared by Industry Tap, Manama, Bahrain World Trade Center with suspended wind turbines.
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Personal income increased $78.4 billion, or 0.5 percent, and disposable personal income (DPI)
increased $68.0 billion, or 0.5 percent, in March, according to the Bureau of Economic Analysis.Personal consumption expenditures (PCE) increased $107.2 billion, or 0.9 percent. In February,
personal income increased $54.3 billion, or 0.4 percent, DPI increased $47.6 billion, or 0.4 percent,
and PCE increased $54.7 billion, or 0.5 percent, based on revised estimates. -- Bureau of Economic Analysis http://links.govdelivery.com/track?
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.... another survey, this one conducted by the Gallup organization in some one hundred and fifty countries, which indicates that the US is far and away the most favored destination in the world, with one hundred and thirty-eight million people indicating a desire to move here, more than three times the number who would choose the United Kingdom, the second most favored destination. -- James S. Denton in World Affairs http://www.worldaffairsjournal.org/article/editor%E2%80%99s-introduction--------------------------------------------------
Share by Mukul Malik, Tombs in Myra, Turkey
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Nat'l Real Estate Post:
Owner foreclosed on for $6.30. http://thenationalrealestatepost.com/foreclosed-for-6-30
Home ownership is at a 19 year low.
Rent prices have increased by 16% year over year.
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US Domestic Gross Product grew by 0.1% in the first quarter. -- Brad Hoppman in Uncommon Wisdom Daily
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