Archive for the 'banking' Category

Real Homes of Genius: Manhattan Beach and million dollar neighborhood trends. Commercial real estate and residential foreclosures meet in unlikely zip code. Forbes 29th most expensive zip code enters correction.


5 reasons why falling home prices will be good for the economy – Higher homes values does not mean higher home equity, financial sector profits back up to 30 percent of all corporate profits, the mortgage debt equation.


Countrywide and Pay Option ARMs on trial – The most toxic mortgage ever invented by mankind is now under trial by the SEC with Countrywide.


The fallacy of cheap home prices and the two income trap – dual income households underscore massive housing inflation. Nationwide home prices overvalued by 25 percent.


Southern California home sales collapse by 21 percent year over year. Real estate tanks simultaneously with ending of government artificial market intervention.


FHA has become the new toxic lender of first resort – 4 out of 10 loans made in expensive Southern California are FHA backed. FHA now backing apartments in Manhattan with a price tag of $820,000 to $3 million with a 3.5 percent down payment.


There will be no U.S. economic recovery in the second half of 2010 – 13 charts showing weak housing trends, option ARM data, dramatic employment changes, and mortgage equity withdrawals.


Million dollar California foreclosures – 35 examples of massive upper-tier foreclosures including one home that is underwater by $2.2 million. Santa Monica housing still in a bubble.


5 reasons why the California real estate market will weaken from August to December of 2010: California budget delay, inventory growth, and three other important factors.


Real City of Genius – The Westside of Los Angeles. Three short sales in Palms, Santa Monica, and Culver City. $100k to $300k in discounts in prime Southern California locations. Short sales still too expensive even with large discounts


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