Doubts Raised on Big Backers of Mortgages - New York Times: "“It’s not irrational to be thinking about a bailout,” said that person, who requested anonymity, fearing dismissal.
Fannie and Freddie do not lend directly to home buyers. Rather, they buy mortgages from banks and other lenders, and thereby provide fresh capital for home loans. The companies keep some of the mortgages they buy, hoping to profit from them, and sell the rest to investors with a guarantee to pay off the loan if the borrower defaults.
Because of the widespread perception that the government would intervene if either company failed, they can borrow money at lower interest rates than their competitors. As a result, they have earned enormous profits that have enriched shareholders and managers alike: from 1990 to 2000, each company’s stock grew more than 500 percent and top executives were paid tens of millions of dollars."
These companies are holding up prices. If these companies were not supporting the market - prices would return to where they should be sooner.
What ever happens I suspect the government will get it wrong.
The question is should the bubble burst or should you let the air out slowly and burden the tax payers.
I suspect Real estate prices in the bubble markets like san diego and sarasota and bradenton florida are far from the bottom
Showing posts with label sarasota real estate prices. Show all posts
Showing posts with label sarasota real estate prices. Show all posts
Friday, May 9, 2008
Friday, July 6, 2007
Best Markets for Buyers - Yahoo! Real Estate
Best Markets for Buyers - Yahoo! Real Estate
Best Markets for buyers. Tampa is leading the way and if Sarasota were larger it would have been included in the top 10.
The determination was based on supply. Supply was caused by the amount of investors who purchased homes. The good news is that the Tampa is strong economically according to the article.
Best Markets for buyers. Tampa is leading the way and if Sarasota were larger it would have been included in the top 10.
The determination was based on supply. Supply was caused by the amount of investors who purchased homes. The good news is that the Tampa is strong economically according to the article.
Tuesday, June 19, 2007
Nashuatelegraph.com: Don’t look for help from lawmakers
Nashuatelegraph.com: Don’t look for help from lawmakers
Lawmakers seem to be taking a wait and see approach to the potential "mortgage crisis".
“We have an obligation to prevent fraud and abusive lending,” Federal Reserve Chairman Ben Bernanke said in a speech Tuesday. “At the same time, we must tread carefully so as not to suppress responsible lending or eliminate refinancing opportunities for subprime borrowers.”
However, John Robbins, chairman of the Mortgage Bankers Association, predicts foreclosures among borrowers with the riskiest credit will amount to 0.25 percent of U.S. mortgages.
“No seismic financial occurrence is about to overwhelm the U.S. economy,” Robbins said in a speech last month.
In keeping with the metaphor your blog reporter is starting to see some fault shaking in the florida real estate markets, particularly in bradenton and sarasota, but
as long as the lenders do not shut off the spigot I see plenty of buyers on the side line looking to scoop up short sales.
Lawmakers seem to be taking a wait and see approach to the potential "mortgage crisis".
“We have an obligation to prevent fraud and abusive lending,” Federal Reserve Chairman Ben Bernanke said in a speech Tuesday. “At the same time, we must tread carefully so as not to suppress responsible lending or eliminate refinancing opportunities for subprime borrowers.”
However, John Robbins, chairman of the Mortgage Bankers Association, predicts foreclosures among borrowers with the riskiest credit will amount to 0.25 percent of U.S. mortgages.
“No seismic financial occurrence is about to overwhelm the U.S. economy,” Robbins said in a speech last month.
In keeping with the metaphor your blog reporter is starting to see some fault shaking in the florida real estate markets, particularly in bradenton and sarasota, but
as long as the lenders do not shut off the spigot I see plenty of buyers on the side line looking to scoop up short sales.
Sunday, June 17, 2007
How to buy a dream home?
The Great Depression of 2006: How to Buy a Dream Home in San Diego
The author of the site above points describes one of the ways a couple with no money can buy a home in a down market.
The author, who is a San Diego blogger, implies that this little deal might be one of the ways prices seem to remain a little higher than they are.
I noticed a similar transaction occur in Lakewood Ranch a few months ago.
The author of the site above points describes one of the ways a couple with no money can buy a home in a down market.
The author, who is a San Diego blogger, implies that this little deal might be one of the ways prices seem to remain a little higher than they are.
I noticed a similar transaction occur in Lakewood Ranch a few months ago.
Thursday, June 14, 2007
Foreclosures skyrocket Ca and FL lead
California and Florida led the way with foreclosure activity in May
Five months in a row California has lead the list most foreclosure filings of any state, with 39,659 in May.
Florida was second in foreclosure activity with 21,704 foreclosure filings. Activity in Florida increased 52% from April 2007 and up 144% from May 2006, One in every 336 households — fourth highest among all the states.
Affordable housing is starting to show up in the Sarasota and Bradenton markets which is part of the reason sales have increased there. Affordable housing might not be too far off in parts of San Diego. Although, areas of Carlsbad are still seemingly strong.
Our observation is that homes located near good schools in Carlsbad still seem to have a bid under them.
source of the statistics is realitytrac
Five months in a row California has lead the list most foreclosure filings of any state, with 39,659 in May.
Florida was second in foreclosure activity with 21,704 foreclosure filings. Activity in Florida increased 52% from April 2007 and up 144% from May 2006, One in every 336 households — fourth highest among all the states.
Affordable housing is starting to show up in the Sarasota and Bradenton markets which is part of the reason sales have increased there. Affordable housing might not be too far off in parts of San Diego. Although, areas of Carlsbad are still seemingly strong.
Our observation is that homes located near good schools in Carlsbad still seem to have a bid under them.
source of the statistics is realitytrac
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