Foreign investment in American real estate is on fire right now, and most of it isn’t coming from where you’d might think.
http://thenationalrealestatepost.com/the-american-real-estate-invasion/?
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Despite credit being more available, mortgage originations are at their lowest level in 14 years and everyone is expecting that will only get worse as mortgage rates creep up. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30572-mortgage-credit-slightly-more-available-in-june
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Shared by Carra Riley, taken by Holger Grabner, Speicherstadt, Hamburg
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------------------------------------------Co-Signers on Defaulted FHA Loans Are Getting New Mortgages -- Roy Kelly blog http://activerain.trulia.com/blogsview/4435939/co-signers-on-defaulted-fha-loans-are-getting-new-mortgages
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“We live in an international marketplace; so while all real estate is local, that does not mean that all property buyers are,” said NAR President Steve Brown, co-owner ofIrongate, Inc. Realtors in Dayton, Ohio. “Foreign buyers are being enticed to U.S. real estate because of what they recognize as attractive prices, economic stability, and an incredible opportunity for investment in their future.” -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30570-foreign-investors-go-big-on-us-real-estate
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Shared by Gia Huy Au Duong
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“The uptick this month in the share of consumers expecting mortgage rates to go up and the accompanying decline in home price expectations reflect the pause of activity in the housing market so far this year,” said Duncan. -- Brena Swanson in HousingWire “The uptick this month in the share of consumers expecting mortgage rates to go up and the accompanying decline in home price expectations reflect the pause of activity in the housing market so far this year,” said Duncan.
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Rather than continue its steady $5 billion a month reduction, the Federal Reserve is debating having the final reduction come in a single $15 billion per month reduction, or in a $10 billion reduction followed by a $5 billion reduction, according to the June Federal Open Market Committee meeting minutes. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/30593-fomc-taper-to-end-in-october
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Shared by Gia Huy Au Duong, taken by John Wood, Guangzhou China
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Home sales across all price points are beginning to suffer, with stale demand moving from lower-priced homes to middle- and higher-priced homes as well, according toCoreLogic’s (CLGX) MarketPulse report for July. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30685-home-price-stall-out-spreads-from-lower-priced-homes-to-higher-end
http://www.housingwire.com/ext/resources/images/editorial/Trey/Map-larger.png
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Zillow has joined the fray with its latest Real Estate Market Report that predicts it will take nearly three more years (2.7 to be exact) for national home values to “re-achieve their pre-recession levels.” Furthermore, the report predicts that in 50 of the country’s 100 largest metro markets it will take “three years or more” for home values to claw their way out of the recession. “In dozens of markets homeowners that bought at the peak of the market…will have to wait until 2017 or later to get back to the breakeven point on their home,” said the report. -- Carole VanSickle Ellis inThe Bryan Ellis Investing Letter http://investing.bryanellis.com/11056/zillow-predicts-three-more-years-of-housing-recession/
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Shared by Uros Kralj, taken by Shirley Lord, Oxford
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Is this why 3.6 million ready homeowners aren’t selling in 2014?
That problem is that doing so, for many homeowners, would mean surrendering a dynamite mortgage interest rate, which means even if the home they want to buy is about the same price or just a little more, they could end up paying much more per month. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30722-is-this-why-36-million-ready-homeowners-arent-selling-in-2014
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Is the architect of the Consumer Financial Protection Bureau looking to run for President in 2016?
Elizabeth Warren said she has no such intentions, but her recent speeches contain more and more of the fiery, anti-financial abuse rhetoric she used during her days building the CFPB. -- Trey Garrison in HousingWire http://www.housingwire.com/blogs/1-rewired/post/30712-monday-morning-cup-of-coffee-former-cfpb-head-eyes-white-house
-------------------------------------------Shared and taken by Dieter Birr, somewhere in Germany
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JPMorgan Chase (JPM) CEO Jamie Dimon was quoted in a Bloomberg article, “He questioned whether his bank should end its decades-old relationship with the Federal Housing Administration, a last resort for lower-income Americans seeking mortgages.” -- Brena Swanson in HousingWire http://www.housingwire.com/articles/30708-nar-big-banks-exiting-fha-loans-is-a-bad-trend
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Existing home sales declined 2.3% in June 2014 from June 2013, reaching an annual pace of 5 million sales for the first time since October 2013, while rising inventory continues to push overall supply towards a more balanced market, according to the National Association of Realtors. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30734-existing-home-sales-in-june-down-23-yoy
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Shared by Uros Kralj, taken by Barbara A Maclean, England
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Mortgage applications increased 2.4% from one week earlier, after a series of drops and a few peaks over the last few weeks, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 18, 2014. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30750-mortgage-applications-rise-24-as-roller-coaster-continues
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