Everytime since 1900, when the ratio of wealth to household income passes 6, the bottom falls out of housing. We are there again. Unless people here in America start making a whole lot more income, we will have another crash!
http://thenationalrealestatepost.com/this-graph-shows-potential-danger-ahead/?--------------------------------------------
The amount of seriously underwater properties plunged to the lowest level in two years, with 8.1 million U.S. residential properties seriously underwater — where the combined loan amount secured by the property is at least 25% higher than the property’s estimated market value,RealtyTrac’s U.S. home equity and underwater report for the third quarter of 2014 said.
This represents 15% of all properties with a mortgage and an estimated $1.4 trillion in negative equity. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/31814-realtytrac-seriously-underwater-homes-hit-2-year-low
---------------------------------------------Shared and taken by Valentina Cirosola, Picasso Museaum, Barcelona Spain
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Fannie says that although a variety of factors are slowing growth on a global scale, which may discourage theFederal Reserve Board from making any changes in interest rate policy until Q3 2015, the global economic slowdown has had little negative impact on the fundamentals of the U.S. economy so far. -- Trey Garrison in HousingWire
http://www.housingwire.com/articles/31822-fannie-mae-positive-on-us-economy-despite-global-growth-decline
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Mortgage rates continued to fall after last week’ssignificant drop and dipped to the lowest level since the week of June 6, 2013, the latest Freddie Mac Primary Mortgage Market Survey said. -- Brena Swanson in HousingWire
http://www.housingwire.com/articles/31818-freddie-mac-mortgage-rates-continue-to-fall-below-4
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Shared and taken by Norbert Metz, Suspension- railway at the Station "Vohwinkel" / Wuppertal
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A significant number of millennials aspire to become homeowners within the next five years, according to a recent survey, despite income and student debt burdens. -- Amilda Dymi in NationalMortgageNews.com
http://www.nationalmortgagenews.com/news/origination/many-millennials-planning-to-become-homeowners-by-2020-1042948-1
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Warren, the Democratic Senator from Massachusetts, has long been at the forefront of Washington’s fight for financial reform. She was instrumental in the formation of the CFPB and now she has her sights set on nonbank mortgage servicers. -- Ben Lane in HousingWire http://www.housingwire.com/articles/31808-warren-calls-for-gao-investigation-of-nonbank-servicers
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Shared and taken by Dieter Birr, Hopfensee/Germany
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The refinancing gauge jumped 23.3% while the purchase applications measure dropped 4.6%. -- Bloomberg News http://www.nationalmortgagenews.com/news/origination/mortgage-applications-jump-116-as-refinancing-surges-1042946-1
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Fannie Mae CEO Timothy Mayopoulos said the government-sponsored enterprise will soon begin offering a 97% loan-to-value mortgage. -- Jacob Gaffney in HousingWire
http://www.housingwire.com/articles/31783-fannie-mae-will-buy-97-ltv-mortgages
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Nat'l Real Estate Post:
Dodd-Frank Act reduced the number of low to middle income people who can own a home and the number of community banks servicing those loans. Dodd-Frank hurts the very people it was suppose to help.
http://thenationalrealestatepost.com/feds-meeting-to-ease-lending-requirements/?
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Shared and taken by Xalima Miriel, Ancient bathroom, Castle d'Urtubie, France
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China is now on track to miss its government's full-year growth target for the first time in 16 years. And unless things pick up soon, 2014 could be the worst for GDP in 26 years.
A key culprit is the country's collapsing real estate market. Home sales plunged by almost 11 percent in the first three quarters of 2014, while investment in fixed assets rose at the slowest pace since 2001. -- Mike Larson in Money and Markets
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Sales of new single family houses in September 2014 were 467,000 at a seasonally adjusted annual rate, up 0.2 percent from August’s revised rate and up 17.0 percent from September 2013. According to HUD.
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Shared and taken by Xalima Miriel, Architecture, Building IBERDROLA, Bilbao
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