There is no Canadian Housing Bubble!

[Aman A.K.A. Ahamburger]

Aug 13, 2012 16:39:26 GMT -5 Driftr said:

Love it!

HOA forecloses on bank.

South Florida homeowner associations are foreclosing on some of the nation's largest banks, accusing the lenders of failing to pay thousands of dollars in maintenance fees on repossessed properties.

The foreclosure filings are a growing trend as associations become more aggressive in going after delinquent fees that have crippled HOA budgets during the housing bust.

Banks owe a portion of the past-due maintenance fees and the full amount from the date they take title to the property, attorneys said. If the lenders fall behind, they're subject to foreclosure just as an individual owner would be.

www.sun-sentinel.com/business/realestate/fl-hoa-foreclose-banks-20120810,0,5206219.story

I hear that driftr, I posted something similar to this on IBB. There is still a way to set yourself up nice for the next housing cycle, people are becoming the master of banks universes.

[Driftr]

Don't get me wrong. I'll never live in a community with a HOA. Just love seeing the banks get the shaft whenever possible.

I agree that now is an awesome time to buy a home. I don't think it is a good time to buy a house as an investment.

[Aman A.K.A. Ahamburger]

Don't get me wrong. I'll never live in a community with a HOA. Just love seeing the banks get the shaft whenever possible.

I hear that... ;D

I agree that now is an awesome time to buy a home. I don't think it is a good time to buy a house as an investment.

Buying a home..

2kids10horses seems to be making great income. He would also get to stick it to the banks I would imagine.. Something like a "No I'll pay what I want to" kind of thing..

[usaone]

Sales of exsiting homes UP 10.4% year over year!!

WOW!!! ;D

[jarhead1976]

Usaone, good to see you. We both know it's the investors buying in.
Very small # of first time buyers.

[usaone]

Investors are always the ones that get the ball rolling. Investors then the regular folks see prices starting to increase and the houses being bought either to resell or rent.

After that is commercial real estate. residential prices are also up y over y 2.3%.

[usaone]

Good to see you too Jar. We have been very busy at work. Best year since 2006 for us.

[Aman A.K.A. Ahamburger]

Aug 22, 2012 18:22:23 GMT -5 usaone said:

Investors are always the ones that get the ball rolling. Investors then the regular folks see prices starting to increase and the houses being bought either to resell or rent.

After that is commercial real estate. residential prices are also up y over y 2.3%.

[Driftr]

Driving home Wed night listening to NPR they had some guy on talking about how housing starts were the best leading indicator (except two points in history) for heading into and exiting recessions. The guy they were talking to was involved with some new book about it. I'll try and find more info if I have time this afternoon, but anyone else that heard it or remembers, please save me the effort.

[Aman A.K.A. Ahamburger]

Sales first, then prices.. Thanks, look forward to that Driftr.

[Driftr]

Couldn't find it. If we assume it is the 'best' leading indicator though, how are new home sales looking lately?

[Aman A.K.A. Ahamburger]

When you're coming out of situation like this I would say that new sales alone would be a bad indicator. There is so much existing inventory that the seasonal fluctuations really are a factor right now. That said in the USA they are at a 2 yr high, so defiantly off the bottom right now. The other positive is that...

Fannie Mae and Freddie Mac
Back to black
www.economist.com/node/21560886?fsrc=rss

[Aman A.K.A. Ahamburger]

Most might have heard this today, however, I thought the choice of words was pretty interesting..

Blitzer sees 'significant turn' in housing market
www.marketwatch.com/story/blitzer-sees-significant-turn-for-housing-market-2012-08-28

[Aman A.K.A. Ahamburger]

More money on the books for Fannie Mae...

Fannie Mae sells $3 billion bills at mixed rates
www.reuters.com/article/2012/09/05/us-fanniemae-bills-sale-idUSBRE8840TI20120905?feedType=RSS&feedName=businessNews&rpc=986

[Driftr]

Aug 24, 2012 11:44:51 GMT -5 Driftr said:

Driving home Wed night listening to NPR they had some guy on talking about how housing starts were the best leading indicator (except two points in history) for heading into and exiting recessions. The guy they were talking to was involved with some new book about it. I'll try and find more info if I have time this afternoon, but anyone else that heard it or remembers, please save me the effort.

Just saw the stuff below. Hope the NPR guy with the book was right.

Earlier, the government had reported that construction of single-family homes in August also was the fastest in more than two years.

www.washingtonpost.com/business/us-futures-rise-ahead-of-data-expected-to-provide-more-hope-in-beleaguered-housing-industry/2012/09/19/654d01c8-0252-11e2-9132-f2750cd65f97_story.html

[Aman A.K.A. Ahamburger]

I hear that! It's looking more and more like the market bottomed in 2011.

I can't remember where you posted about the MBS buybacks. So I will just post this for ya here. I know this guy is for the program and theirfore bias, however, he does bring up a valid point to a degree. It's all about jobs if the housing market starts gearing up over the next 2 years.

Fed's Dudley: New Fed Easing Fully Consistent With Mandate
online.wsj.com/article/BT-CO-20120918-709345.html

[Driftr]

I only got the first two paragraphs.

'To continue reading subscribe'

The MBS buybacks are not allowed according to Section 14 of the Federal Reserve Act.

The fact that those at the Fed continue to try and define it's mandate as 'stable prices' being a consistant 2-3% inflation is understandable. Hear a lie long enough and they probably actally believe it. In the end, I don't blame the Fed, I blame Congress for allowing that abortion to continue to operate unchecked.

[Aman A.K.A. Ahamburger]

What he is saying is that under the circumstances this falls under the jobs part of the FRBs mandate.

[Driftr]

Sept 20, 2012 17:37:24 GMT -5 Aman A.K.A. Ahamburger said:

What he is saying is that under the circumstances this falls under the jobs part of the FRBs mandate.

It always does.

[Aman A.K.A. Ahamburger]

Just his opinion, not mine, just like Fisher I think it was unnecessary.

[Driftr]

Foreclosures lowest in 5(?) years. Still 2.5x what would 'normally' be expected. But we're looking for progress, not perfection right?

[Aman A.K.A. Ahamburger]

Yes sir, I believe Home Depot when they say that it could be two years before a full fledged recovery takes hold, it's going to be slow going moving forward from the 2011 bottom no matter what. Lets just hope that money doesn't end up being taken out of the consumer cycle at this point.

Holiday hiring is headed for a five-year high
management.fortune.cnn.com/2012/10/10/holiday-hiring-is-headed-for-a-five-year-high/?section=magazines_fortune&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmagazines_fortune+%28Fortune+Magazine%29

U.S. Economy Gets a Lift From the Housing Markets
www.nytimes.com/2012/10/11/business/economy/housing-bolsters-economy-fed-survey-shows.html?_r=1&partner=rss&emc=rss

The Fed said growth improved in 10 of its 12 regional banking districts from mid-August through September, while leveling off in one region and slowing in another. Rising home sales helped lift home prices in most districts.

[Aman A.K.A. Ahamburger]

Housing starts are up 15%... I would say this is reflected in the good bank earnings that have been going on during this quarter.

[Driftr]

Yeah. I heard about the starts yesterday on the way in to work. Forgot to post it here when I got in. Great news.

[Steady As She Goes]

So a few months ago, my son and I put in a bid on house that needed some repair. The asking price was $195K. We bid $240K ... and lost the bid. I just found out this morning that the winning bid was $245K. The buyers spent $30K in upgrades: new kitchen everything, new carpet throughout, new roof, sod in the front yard, etc. It's listed today for $379K. According to Zillow, houses in the neighborhood are averaging $390K. Wow!

[Aman A.K.A. Ahamburger]

I agree Driftr, sales off today because of lack of supply? From what you're saying steady it looks like the flipping market is coming back and could lead to the reports about a drop in sales because of lack of supply. Should be good news for Home Depot.

[Steady As She Goes]

According to my friends (who live across the street from the house I was talking about in the above post), the house just sold.

It was on the market for maybe a week. WOW!!!!!!

[Aman A.K.A. Ahamburger]

A&E has 2 new shows on I seen over the weekend, Flipping Boston and Flipping Miami. ;D

It really looks like next year is setting up to be a year like '09, where the markets are detached from the economy.

[Aman A.K.A. Ahamburger]

Just for historical reference.

Home Sales Rising to Two-Year High Spur U.S. Growth: Economy
www.bloomberg.com/news/2012-10-24/sales-of-new-u-s-homes-climbed-in-september-to-two-year-high.html

[Driftr]

Just saying...

New home construction rose in October, underscoring continued improvement in housing last month.

Housing starts rose 3.6% from September to a seasonally adjusted annual rate of 894,000, the Commerce Department reported. That was up 41.9% from the same month last year.

www.latimes.com/business/money/la-fi-mo-housing-starts-20121120,0,2906671.story