Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
A Convincing Case for a Homebuyer Tax Credit Extension
October 6, 2009
Extend the Homebuyer Tax Credit | www.realestateeconomywatch.com
With the expiration date rapidly approaching, supporters of the tax credit fear that the housing recovery may stumble in the absence of this housing subsidy. Opponents believe that extending the program would be costly, expressing concerns about excessive government spending and a run-away federal budget deficit. They also believe that a tax credit program does not solve the problems of the housing sector; it only postpones dealing with those problems.
Short Sales Are About to Increase
October 5, 2009
Short Sales: A Fraying Lifeline for Homeowners | www.businessweek.com
Treasury is announcing new terms that they hope will encourage more short-sales. These transactions have not been very effective in the past, and while this is probably not going to be a game changer, it’s wise to expect the incentives could spur some level of increase in short sales.
Lower Rates, While Great, Do Little For Jumbo Lending
October 1, 2009
Real Estate Outlook: Mortgage Rate Dip Impacts Housing | realtytimes.com
The Realty Times article reflects the positive effects of lower interest rates on mortgage originations and home purchases, but fails to note the failure of said rates to transcend the conforming/conventional markets into the jumbo markets. The implications of this failure are that many homeowners in the higher cost states (CA, NY, MA, etc.) still cannot get competitive financing; thus, driving home prices down further.
Case-Shiller Home Price Index Positive Development for Housing
September 30, 2009
Home Price Report Offers Encouraging News | www.realestateeconomywatch.com
Home values, as measured by the popular S&P Case-Shiller home price index of 20 cities rose 1.6 percent in July from a month earlier. Home prices also rose in June and May on a month over month basis. The three-month steady improvement in home values indicates that the housing markets may be stabilizing.
Mortgage Applications Drop Despite Lower Mortgage Rates
September 30, 2009
Mortgage Applications Decrease in Latest MBA Weekly Survey | www.mortgagebankers.org
The weekly mortgage application survey released by the MBA reported that both purchase and refinance application were down which was disappointing news for the housing markets given that mortgage rates fell during the week.
September 28, 2009
KB Home Loss Narrows on Fewer Write-Downs | online.wsj.com
KB, a lower cost builder, is benefitting from the perception that we have hit the bottom. We have not. Thus, the peak of the inside of the "W" is about to wane.
It's about TIME the Goverment takes action to stop these banks!
September 25, 2009
Singapore Toughens Rules on Home Loans | online.wsj.com
Banks are still supporting Developers for Brand new project sales at ' new market high prices' & yet they do not want to re-finance / restructure home loans of Under-Construction' units.Banks are taking a swipe at these mass market buyers loans & if they do not watch, they will face a mini-sub prime from these middle income speculators in the next 2 yrs.....Kudos for the Singapore Government for taking the preventive measures but more has to be done to encourage the bankers to do the 3 Rs for their existing clients. Re-schudule, retain & repackage
Pet Policies can affect the Value of High Rise Condominiums
September 23, 2009
Adjusting Philadelphia Condo Pricing | www.centercitycondos.com
Condominium Pet Policies and Resale ValueExclusionary pet policies can lower demand for any give condominium association. Low demand generally equates to a long time on the market for available condos for sale, and can drag down sale prices.
Foreclosures: The Key to the Real Future of Las Vegas
September 21, 2009
New Homes Back in Play for Las Vegas Buyers | www.lvrj.com
Las Vegas housing statistics for August continue to suggest that the residential market is scudding along a bumpy bottom, struggling to find stability in sales, inventory and pricing.But the big story in the August data for the Las Vegas residential market can be summed up in a single word: Foreclosures.
Small May Not Be Beautiful, But Big Is Usually Ugly
September 19, 2009
Govt Working on Real Estate Regulator for Housing Sector | www.indianrealtynews.com
The easiest way to smother property rights and destroy wealth is to over-regulate it.The proper role of government regulation is not to supplant private market activity, but rather to provide, in this case, such things as a registry of ownership, and a venue to resolve disputes.So, if government wants to establish a "land agency", it can either facilitate ownership, transfer, and (incidentally) taxation, or it can try to supplant existing private contractual avenues.
October 20, 2009
A Convincing Case for a Homebuyer Tax Credit Extension
October 6, 2009
Short Sales Are About to Increase
October 5, 2009
FHA Likely To Be The Next Shoe To Drop
September 9, 2009
September 2, 2009