Archive for May, 2010

Financial sleight of hand. The incurable onset of mortgage delinquency. Cure rate for mortgages at all time low. Government share of all income grows to record levels.


FHA insured loans filling mortgage void left from toxic mortgage lenders. Serious delinquent loans at 9 percent while FHA insured loans pass Fannie Mae and Freddie Mac in Q1. FHA a loan for non-savers.


5 reasons why California will face another lost decade in housing – 493,000 real estate agents and brokers for 219,000 homes listed on the MLS. 7 percent of 90+ day late loans in California have no foreclosure filed. State budget depended on real estate bubble jobs for revenues.


Real Homes of Genius – 1 out of 7 homeowners not paying mortgage or in foreclosure. Examples in Pasadena. 672 square feet apartment for $385,000. 676 square feet home became equity machine.


Futures market predicting housing bottom for Los Angeles and San Diego in May of 2012. LA to drop 12.8 percent and San Diego to drop 26.8 percent. San Francisco future predict increase in prices?


California budget and housing are interlinked – California home sales spike but prices remain near the trough. Why California housing values cannot increase without income and employment growth.


Housing never really improved – 10 charts showing the United States housing market is entering the second wave of problems. 1 out of 4 people with no mortgage payment in the last year are still not in the foreclosure process.


Real Homes of Genius – Culver City 900 square foot home with three mortgages up to $572,000. A few places down, a 800 square foot home is selling for $500,000. L.A. cities still in housing bubbles.


Casino finance – Wall Street lost $1 trillion in wealth before recovering most of it because of a missed keystroke? The cronyism and gambling of the banking financial sector.


The Strategic Default World – $100,000 negative equity the pushing point. 12 percent of all U.S. defaults in February were strategic. 30,000 people a month are able to pay their mortgage but are deciding not to.


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