Ït's ãll ábout housing local, state & national.

[usaone]

If new homes sales are picking up. it sounds to me that they are priced right.

[comokate]

It's dismal in my region. It's dismal in my hometown as well.
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Home prices took a big hit at the end of 2010, even as the rest of the economy gained steam.

National home prices fell 4.1% during the last three months of 2010, compared with 12 months earlier, according to the latest report from the S&P/Case-Shiller home price index, a closely watched indicator of market trends. They were down 1.9% compared with three months earlier.

"Despite improvements in the overall economy, housing continues to drift lower and weaker," said David Blitzer, spokesman for S&P.

And things may get a lot worse, said Robert Shiller, a Yale economist and half of the Case-Shiller team, in a web conference after the report's release.

"There's a substantial risk of home prices falling another 15%, 20% or 25% more," he said.

Shiller cited a few reasons for his bearish stance. The government is expected to reduce the presence of Fannie Mae and Freddie Mac in the housing market. These agencies currently provide loan guarantees for about two-thirds of mortgages. If they fade away, private mortgage money will have to fill the gap and the cost of mortgage borrowing will surely rise. That will hurt home prices.

There's also talk of possibly ending the mortgage interest tax deduction for many homeowners. Meanwhile, the weak economic recovery may be threatened by higher oil prices as a result of turmoil in the Mideast.




finance.yahoo.com/news/Home-prices-fall-41-near-2009-cnnm-2016472877.html?x=0

[Deleted]

There's also talk of possibly ending the mortgage interest tax deduction for many homeowners. Meanwhile, the weak economic recovery may be threatened by higher oil prices as a result of turmoil in the Mideast

Read more: notmsnmoney.proboards.com/index.cgi?board=moneytalk&action=display&thread=2897&page=3#ixzz1Eo9kUrEu

Just talk....

The housing credit for interest will be the last thing to go....as it is political suicide

$ 5.00 gas is possible due to the crisis looming in ME but unlikely....We will probably spike to around $ 4.25 and that will hurt the lower incomes

It will aslo spur the powers to get off their ass and start talking natural gas...and other sources of energy which is a GOOD thing...

[bimetalaupt]

Feb 23, 2011 13:32:00 GMT -5 @gdgyva said:

There's also talk of possibly ending the mortgage interest tax deduction for many homeowners. Meanwhile, the weak economic recovery may be threatened by higher oil prices as a result of turmoil in the Mideast

Read more: notmsnmoney.proboards.com/index.cgi?board=moneytalk&action=display&thread=2897&page=3#ixzz1Eo9kUrEu

Just talk....

The housing credit for interest will be the last thing to go....as it is political suicide

$ 5.00 gas is possible due to the crisis looming in ME but unlikely....We will probably spike to around $ 4.25 and that will hurt the lower incomes

It will aslo spur the powers to get off their ass and start talking natural gas...and other sources of energy which is a GOOD thing...

Gdg Yva,
Yes, CNG works well in the Chevy 350.. You see it all over New York in the Taxi Fleet. I think Boon and others are there all about the town and going to make it work in larger power plants like we do in West Texas.. For years we heard the one lung pump jacks working in West Texas... powered by well head gas.

Algae oil is going to be the next Renewable oil produced. We started the Diesel power revolution with peanut oil not Hydrocarbons.

Bruce

[maui1]

My opinion....its hard to get a good read on housing during the winter. Especially like the one we are having

you can't get a good read........because the gov't is involved in the numbers.

anyone that says anything about the economy, with any degree of certainty, should be looked at very closely, to determine their reasoning for saying what they are saying. most, you will find, is bull$hit!

[usaone]

The government is always involved.

[maui1]

The government is always involved, IN EVERYTHING....EVEN THINGS THAT WERE STRICTLY FORBIDDEN TO THEM BY OUR CONSTITUTION!

[usaone]

The government has been involved in housing since the 1930's.

There were NOT involved in housing in the 1920's and we still had a housing crash so who knows?

[maui1]

the central bank (fed) was developed in 1913.......if you are looking for a suspect

[vl]

The government has been involved in housing since the 1930's.

There were NOT involved in housing in the 1920's and we still had a housing crash so who knows?

Read more: notmsnmoney.proboards.com/index.cgi?board=moneytalk&action=display&thread=2897&page=3#ixzz1G3rsIOOE

We didn't have fully amortized mortgages UNTIL the government got involved. The housing crash in the 20's occurred for the very same reason the current one did... balloons on shaky variables with underlying capital over-invested in derivative formulation. A reminder that you only needed a dime to buy a dollar's worth of stock before the Crash of 1929.

Ring a bell?

[decoy409]

V_L, only for a select few. Most have been silver spoon fed and have no idea what your even talking to them about. Buy them books, and they chew on the covers.

[usaone]

Mortgage Applications picking up right on schedule.

[maui1]

decoy.....real cute.

[maui1]

vet-

the gov't (and fed) does not have to be directly involved in a market to create a bubble. did you think the gov't (fed) were buying dot com stock in the late 90s?

all the gov't (fed) has to do, is increase the money supply and the money will find a place in the market on it's own.

the last place money found, just happened to be the housing market.

i will agree that the gov't was also playing in that market as well, and that is the main reason this bubble bursting, almost put a complete end to the market as we know it.

[decoy409]

maui1, I heard that one from a pal down south way.

Now as far as USA goes and this information that they are seeing, wel in my post today I dropped this off,

Quote: BofA Segregates Almost Half of its Mortgages Into ‘Bad Bank’


Read more: notmsnmoney.proboards.com/index.cgi?board=moneytalk&action=display&thread=448&page=38#ixzz1G8LmYMX4

That will clear up a whole lot of confusion in this thread.

[texasredneck]

This message has been deleted.

[maui1]

when the gov't gets out of the way........the market will fall for a short time, then it will start rebuilding towards stability.

it would be a lot better than slowly bleeding to death as we are now.

[decoy409]

maui1, when the gov. gets out of the way? Take #78 and run that over real good,then add,

Quote: Congressional freshmen include dozens of millionaires, financial disclosures show
www.washingtonpost.com/wp-dyn/content/article/2011/03/09/AR2011030902631.html?wpisrc=nl_politics

Anything but, 'when the gov. get's out of the way' is happening or has happened.

Why it's 'Oral Law' leading the way! Just not for you and me.

Here in Wis. that match has been lit.

[maui1]

do all gov'ts have to be overthrown to be fixed?

seems so.

[texasredneck]

This message has been deleted.

[vl]

Not. The likely reset is in establishing a personal square footage accommodation and taxing the Hell out of those with more space and too much waste. Once we define housing again, capping the mortgage limit comes next. Go ahead and buy that million dollar Toll booth. Be sure you lay out cash if the limit is less. Next we concentrate on efficiencies and proximity to transportation lines.
These things create jobs, stability, growth and desire, all the key ingredients to stabilizing values. Obviously, banning Wall Street from having ANY involvement in credit whatsoever is the main thing... they caused the original crisis, pumped up the bubbles and scuttled all of the processes that had protected us previously.
Never send a financier to do a lender's job.

[texasredneck]

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[texasredneck]

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[reasonfreedom]

www.bloomberg.com/news/2011-02-23/existing-home-sales-in-u-s-probably-fell-in-january-from-seven-month-high.html

Here is an article on existing home sales.

[texasredneck]

This message has been deleted.

[usaone]

Flow has a good article today in his thread on housing.

Housing surprises to the upside this spring and summer!!

[texasredneck]

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[usaone]

Increased oil prices should help you guys down there.

[texasredneck]

This message has been deleted.

[texasredneck]

This message has been deleted.