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Keyword: housing

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  • This house market is falling apart

    08/29/2014 7:46:46 PM PDT · by Lorianne · 67 replies
    Market Watch ^ | 27 August 2014 | Michael Sincere
    Most real estate experts believe the U.S. housing market is roaring back. Few have anything to negative to say about real estate. But what if they’re wrong? Real estate analyst Keith Jurow, author of the Capital Preservation Real Estate Report, is warning that the real estate market is not as strong as it seems. Says Jurow: “I never bought into the idea that we had a recovery at all.” His research leads him to conclude that home prices will be heading lower. Why? Largely because home listings are going up but sale prices are not. Jurow discovered that as of...
  • Holder cuts left in on $17 billion Bank of America settlement

    08/28/2014 9:42:53 AM PDT · by afraidfortherepublic · 29 replies
    Powerline ^ | 8-28-14
    Radical Democrat activist groups stand to collect millions from Attorney General Eric Holder’s record $17 billion deal to settle alleged mortgage abuse charges against Bank of America, Investors’ Business Daily reports: Buried in the fine print of the deal, which includes $7 billion in soft-dollar consumer relief, are a raft of political payoffs to Obama constituency groups. In effect, the government has ordered the nation’s largest bank to create a massive slush fund for Democrat special interests. The deal requires billions of dollars in debt forgiveness payments to delinquent borrowers. It also requires Bank of America to make billions in...
  • Why a Slowdown in Housing Prices Is Great News

    08/27/2014 7:05:57 AM PDT · by SeekAndFind · 3 replies
    New York Times ^ | 08/27/2014 | Neil Irwin
    There was some glumness in the latest news on housing prices. There shouldn’t be. Slower home price rises — and in some markets, outright declines — are a sign the housing market is starting to move past the boom-and-bust cycle of the last dozen years toward a market where sensible prices driven by local economic conditions prevail. The S.&P./Case-Shiller home price index showed prices rose 8.1 percent in 20 major cities in the 12 months ended in June, the lowest rate of increase since 2012. Compared with May’s prices, national home prices actually declined oh-so-slightly, by 0.1 percent, with six...
  • High Negative Equity Among Gen X Homeowners Causing Housing Market Gridlock

    08/26/2014 11:37:43 AM PDT · by Lorianne · 42 replies
    Seeking Alpha ^ | 26 August 2014
    Generation X homeowners are far more likely to be underwater on their mortgage than millennial and Baby Boomer homeowners, a generational block that could limit the market for years, according to the second quarter Zillow® Negative Equity Reporti. The overall national negative equity rate fell to 17 percent in the second quarter, with more than 8.7 million homeowners with a mortgage owing more than their home was worth. Approximately 42.6 percent of Generation X homeowners (those aged from 35 to 49) are underwater on their mortgage, compared to 15.3 percent of millennial homeowners (20-34 years old) and 31.1 percent of...
  • The "Brad Pitt" Housing Recovery: Existing Home Sales Up 5% For Million Dollar Homes

    08/21/2014 1:56:39 PM PDT · by MRourke85 · 3 replies
    Confounded Interest ^ | 08/21/2014 | Anthony B. Sanders
    The “Brad Pitt” housing recovery is doing well, if you can afford a million dollar home like Brad Pitt. Or like many households in San Francisco, Los Angeles, San Diego, New York, Washington DC and other expensive housing markets. NAR Housing Market July Of course, mere mortals (known as America’s middle class) are not qualifying for a mortgage as they used to due to stagnant labor markets. rmincavh Especially when The Fed is helping only the million dollar housing market. It must be wonderful to be a part of the million dollar housing club, like Brad Pitt.
  • Commentary: Behind Ferguson’s Unrest, Failed Federal Policy and the Black-White Housing Gap

    08/17/2014 6:47:21 PM PDT · by 2ndDivisionVet · 48 replies
    The International Examiner - the only nonprofit Asian American media in the country ^ | August 17, 2014 | Andre F. Shashaty, New America Media
    A local organizer in a town neighboring Ferguson, Mo., shows a typical “porch.”On the surface, the unrest in Ferguson, Mo., was about local police using deadly force on an unarmed young man. But on a deeper level, it reflected the increasing poverty and economic decline that affects ethnic communities all over America. Despite rosy reports in the media about the end of the national foreclosure crisis and the recession that followed, all is not well in our inner cities and suburbs with largely minority populations, like Ferguson. The foreclosure crisis was hard on many Americans, but it was a disaster...
  • China Appears Ready to Dump Its U.S. Treasury Bonds

    08/13/2014 2:31:29 AM PDT · by Sir Napsalot · 44 replies
    Breibart - Big Government ^ | 8-12-2014 | Chriss W. Street
    Although investors hang on every comment by Federal Reserve Chairwoman Janet Yellen to get insight on the direction of interest rates and what it means for the economy and asset prices, the real power to determine U.S. interest rates may be in the hands of China, according to Lombard Street Research. Facing an overvalued currency that is hurting corporate profits and slowing growth, China appears ready to dump its $1.3 trillion in U.S. Treasury bonds to drive U.S. interest rates up and strengthen the dollar... (snip) China tried to slow the fall of the dollar by increasing its holdings in...
  • Overpay or Be Shut Out; Home "Ownership" Slavery

    08/13/2014 4:55:48 PM PDT · by Kaslin · 34 replies
    Townhall.com ^ | August 13, 2014 | Mike Shedlock
    Supply of homes at the bottom-third of the market is down 17 percent from a year ago. Meanwhile the top-third home supply is up 15 percent while the middle is up a modest 3 percent according to Redfin. The bottom third is anything priced below $198,000. But $150,000 or $200,000 does not buy in terms of size and location what it did just a few years ago. Overpay or Be Shut Out So once again, first-time buyers face the question "overpay or be shut out?" And once again it appears many make a very poor choice.
  • In the Future We’ll All Be Renters: America’s Disappearing Middle Class

    08/10/2014 8:03:28 PM PDT · by SeekAndFind · 35 replies
    Daily Beast ^ | 08/10/2014 | Joel Kotkin
    America’s wealth is concentrating in fewer hands, and while the rich are getting super rich, the once vital middle class is nearing extinction. [SNIP] But today, after decades of expanding property ownership, the middle orders—what might be seen as the inheritors of Jefferson’s yeoman class—now appear in a secular retreat. Homeownership, which peaked in 2002 at nearly 70 percent, has dropped, according to the U.S. Census, to 65 percent in 2013, the lowest in almost two decade. Although some of this may be seen as a correction for the abuses of the housing bubble, rising costs, stagnant incomes and a...
  • Poor Families Use 'Supervouchers' To Rent In City's Priciest Buildings (HUD's Chicago Gold Coast!!)

    07/28/2014 4:47:36 PM PDT · by drewh · 36 replies
    Crains Business Journal ^ | 7/28/14 | By Alby Gallun
    The high-rise at 500 N. Lake Shore Drive is the second-most expensive in the city, with rents for a one-bedroom apartment approaching $3,000 a month, well beyond the reach of most Chicago residents. But that's not too much for the Chicago Housing Authority, which has used federal tax dollars to pick up most of the tab for four lucky residents in the year-old building, with its sweeping views of Lake Michigan, a concierge and a dog-grooming center. The tenants moved in over the past two years as part of a push by the CHA to expand its housing voucher program...
  • ABC, NBC Ignore Grim Housing Report; Focus Instead on Selfie with Queen, 50 Shades of Grey Trailer

    07/25/2014 7:51:10 AM PDT · by george76 · 8 replies
    NewsBusters ^ | July 24, 2014 | Curtis Houck
    Both ABC World News with Diane Sawyer and NBC Nightly News failed to mention a new, troubling report from the Census Bureau on Thursday night that sales of new homes decreased by 8.1% in June and that May’s originally reported double-digit increase was revised lower, from almost 19% to only 8%. The CBS Evening News did cover this story, but it only was in the form of a 12-second news brief from anchor Scott Pelley. Pelley grimly reported that: “Today's report on the housing market is raising concerns about the economic recovery. Sales of new homes dropped sharply last month,...
  • Home Sweet Home in Freight Shipping Containers

    07/23/2014 6:25:24 AM PDT · by Sean_Anthony · 18 replies
    Canada Free Press ^ | 07/23/14 | Dr. Ileana Johnson
    While the world is sizzling and percolating in conflicts and wars, and U.S. is roiling in manufactured crisis after crisis, real or imagined emergencies, overwhelmed by the constant invasion of illegal immigrants, The Washington Post writes on the front page, “Thinking inside the box on D.C. housing costs,” living in repurposed dinged freight shipping containers. Two days before, Deborah K. Dietsch featured “Thinking big in a small way.” (Michael Laris, July 21, 2014)
  • Cost to House Influx of Illegals Stuns Senators

    07/20/2014 1:00:04 PM PDT · by John Semmens · 36 replies
    Semi-News/Semi-Satire ^ | 20 July 2014 | John Semmens
    In testimony before the Senate Budget Committee, Department of Homeland Security Secretary Jeh Johnson shocked senators of both parties when he disclosed that it costs between $250 and $1,000 per day per person to house the illegal immigrants that have been surging across our border with Mexico. "There was an audible gasp, a bipartisan gasp," Senator Marco Rubio (R., Fla.) recounted. "I could take a luxurious Caribbean cruise every day of the year for a lower total cost. I cannot fathom why the spartan accommodations we are providing for these people should cost so much." Senate Budget Committee chairwoman Patty...
  • China Home Prices Fall in Record Cities (Is China's Housing Bubble Bursting?)

    07/18/2014 9:40:12 AM PDT · by MRourke85 · 7 replies
    Confounded Interest ^ | 07/18/2014 | Anthony B. Sanders
    China’s new-home prices fell in a record number of cities tracked by the government as developers cut prices to boost sales volume, signaling curbs will be relaxed in more cities. Prices fell in 55 of the 70 cities last month from May, the National Bureau of Statistics said in a statement today, the most since January 2011 when the government changed the way it compiles the statistics. Prices in Shanghai and the southern city of Guangzhou fell 0.6 percent each from May, the biggest drop since January 2011, while they declined 0.4 percent in Shenzhen. Prices fell 1.7 percent in...
  • San Francisco Median Home Price Hits $1 Million as National Jobs Recovery Atrophies

    07/17/2014 4:33:23 PM PDT · by MRourke85 · 7 replies
    Confounded Interest ^ | 07/17/2014 | Anthony B. Sanders
    The one section of the housing market that is booming is housing for the wealthy. For example, the median home price in San Francisco just hit $1 million. An analysis by DataQuick of 25 of the top U.S. metropolitan areas for multimillion-dollar sales showed purchases for $2 million or more jumped 33 percent in January and February from a year earlier. Unfortunately for the rest of the United States (the mere mortals), the housing affordability (according to the National Association of Realtors) is declining. narafford This is particularly bad news since home prices are rising while real median household income...
  • US housing starts sink in June [Summer of No Recovery]

    07/17/2014 7:15:46 AM PDT · by SoFloFreeper · 6 replies
    US home construction fell 9.3 per cent in June, a surprising sign of weakness for a sector that has struggled to maintain momentum over the past year. Housing starts sank last month to a seasonally adjusted annual pace of 893,000, the weakest showing since September 2013, the Commerce Department said Thursday. It was the second-straight monthly drop....
  • US jobless queue shortens, but housing starts plunge sharply in June

    07/17/2014 6:52:23 AM PDT · by SeekAndFind · 31 replies
    CNBC ^ | 07/17/2014
    The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting the labor market recovery was gaining traction. However, a separate report showed U.S. housing starts and building permits unexpectedly fell in June, suggesting the housing market recovery was struggling to get back on track after stalling in late 2013. Initial claims for state unemployment benefits dropped 3,000 to a seasonally adjusted 302,000 for the week ended July 12, the Labor Department said on Thursday. The prior week's claims were revised to show 1,000 more applications received than previously reported. Economists polled by Reuters had forecast...
  • This Flowchart Could Help You Decide Whether To Buy Or Rent A Home

    07/15/2014 2:09:47 PM PDT · by SeekAndFind · 29 replies
    Business Insider ^ | 07/15/2014 | Libby Kane
  • Here Are The Cities Where Middle-Class Homebuyers Are Screwed

    07/12/2014 10:44:31 AM PDT · by SeekAndFind · 45 replies
    Business Insider ^ | 07/12/2014 | ANDY KIERSZ
    It's really hard for a middle class family to buy a house along the California coast.Real estate research and marketplace site Zillow routinely calculates an index of housing affordability. First, they use a proprietary statistical model to estimate housing values in a metropolitan area. Then, they calculate the monthly mortgage payment for a median price house in each metro area. Finally, they calculate the percentage of the median monthly income for each metro area needed to pay that mortgage payment.For example, Zillow's estimate for the median home price in Abilene, TX during the first quarter of 2014 was $98,600. After...
  • Did China Just Crush The US Housing Market?

    07/10/2014 7:08:23 PM PDT · by Nachum · 16 replies
    Zero Hedge ^ | 7/10/14 | Tyler Durden
    A few days ago we finally closed the door on any argument who the marginal buyer in the US luxury housing segment was - the answer: Chinese oligarchs, scrambling to launder their "hot" domestic money abroad (as we predicted first two years ago) and now that Switzerland is no longer a safe offshore venue where one can park cash, they picked US luxury housing as the best money laundering alternative. This means that far from indicating a recovery, as the recent surge in the high end of the US housing segment had long been touted, all the relentless move...
  • MAP: Where feds are trying to relocate illegal border surgers

    07/09/2014 4:37:17 PM PDT · by Baynative · 38 replies
    numbersUSA ^ | 7/9/14 | Website
    Relocation Map Key As with all maps, you can zoom in and out, and click and drag the map for a different view. (For a larger version of this map click here. You can see a full list of all the communities in the left column.) NumbersUSA is daily updating this interactive map to show which communities are under threat of the federal government moving large numbers of illegal aliens there from the border.
  • There’s no God-given right to live in NYC

    07/07/2014 8:15:41 AM PDT · by SeekAndFind · 27 replies
    New York Post ^ | 07/07/2014 | Kyle Smith
    One thing we know about Mayor de Blasio is that he’s serious about creating affordable, quality housing for all New Yorkers. “This is literally the largest and most ambitious affordable-housing program initiated by any city in this country in the history of the United States of America,” de Blasio declared when he announced his “five-borough, 10-year plan” in May. “It is the largest, fastest affordable-housing plan ever attempted at a local level,” he added, vowing to “change the face of this city forever.” Hear that kids? Your rent worries will soon ease. Great news! I wonder if the new promise...
  • Housing Scoreboard At Mid-2014: Indicators Heading South Except For Wealthy

    07/06/2014 3:34:56 PM PDT · by MRourke85 · 5 replies
    David Stockman's Contra Corner ^ | 07/06/2014 | Logan Mohtashami
    As the housing selling season winds down with the end of spring and the beginning of the summer months, it is a good time to get an informed perspective of housing demand for the year. This can be gleaned from three major metrics; mortgage purchase applications, existing home sales and new home sales, year over year (YoY). Six months of data for the first indicator, mortgage purchase applications, shows applications significantly down compared to the same period last year. 1. Mortgage purchase applications are down -16% YoY. (All charts from Professor Anthony Sanders, Distinguished Professor of Real Estate Finance at...
  • The Riskiest Housing Markets In America [Do you live anywhere near these cities?]

    06/30/2014 12:35:57 PM PDT · by SeekAndFind · 29 replies
    Zero Hedge ^ | 06/30/2014 | Tyler Durden
    As homeownership rates tumble, perhaps it is not just the stagnation of income or piling up of 'other debts' disabling any organic buying frenzy; perhaps, as Bloomberg breaks down, it is the realization that real-estate is nothing less than another boom-bust roller-coaster ride. ??When so much wealth is tied up in one asset, the risk -- or stability -- of a local market can mean a lot to a homeowner and Bloomberg has quantified the 'riskiest' (and most stable) home markets in America... not Vegas, not Phoenix, and not LA... Full Breakdown here And the stablest real estate markets?5. Raleigh, North...
  • Chinese Create Huge 40×40 Foot Graphene / Fiberglass 3D Printer – Planning on Constructing Homes

    06/28/2014 2:43:36 PM PDT · by 2ndDivisionVet · 18 replies
    3D Print.com blog ^ | June 25, 2014 | Randall Desmond ·
    “Bigger is better,” as the old adage goes. When it comes to a juicy steak, or a diamond ring, these words always hold true. When it comes to 3D printing, however, there still remains some debate. The 2nd World 3D Printing Technology Expo was held in Qingdao, Shandong, China this past week (June 19-22). It featured thousands of individuals from China, United States, Germany, Belgium, the United Kingdom, and almost a dozen other countries. They were there to discuss the latest breakthroughs in 3D Printing, including possible applications, material use, business models and more. Qingdao Unique Products Develop Co., Ltd,...
  • Guess Who Is Propping Up The US Housing Market

    06/23/2014 8:14:51 AM PDT · by PoloSec · 13 replies
    Zero Hedge ^ | June 23 2014 | Tyler Durden
    A month ago we showed a chart that, in our humble opinion, summarized all that is wrong with the US housing market. The chart in question showed the April breakdown of existing home sales on a Y/Y basis by pricing bucket.   Needless to say, what the chart showed was the symptomatic, and schizophrenic, breakdown of US housing into two camps: the housing market for the 1%, those costing $750K and above, where the bulk of transactions are mostly between non-first time buyers, and typically take place as all cash transactions, and the market for "everyone else" which continues to...
  • Stick A Fork In Yet Another "Housing Recovery": Starts Tumble, Multi-Family Permits Collapse

    06/17/2014 8:15:01 AM PDT · by SeekAndFind · 6 replies
    Zero Hedge ^ | 06/17/2014 | Tyler Durden
    Blame it on the... spring?Moments ago, in addition to reporting CPI numbers which showed that the Fed has already met and surpassed its 2.0% inflation target (credible or not), the Dept of HUD released Housing starts and Permits data for the month of May. It was, in a word, disappointing. It was so disappointing in fact, that both housing starts and permits not only missed expectations, but tumbled from the previous month by the most since January and the great "Polar Vortex" which was the kitchen sink used to explain the collapse in US GDP in Q1. Perhaps it...
  • Bay Area buyers frustrated by tight supply of homes for sale

    06/01/2014 8:57:37 AM PDT · by artichokegrower · 81 replies
    San Jose Mercury ^ | 05/31/2014 | Pete Carey
    In one of the most agonizing disconnects of the Bay Area's surging economy, far more people want to buy a home than want to sell one, making this the tightest housing market in the nation. Would-be homebuyers are crowding into scarce open houses and battling for the few available, leading to rising prices, rapid sales -- many homes sell within a week -- and frustrated house hunters. "This is the most sustained period of low inventory I've seen in 20 to 24 years," said Chris Trapani, head of the Sereno Group in Silicon Valley.
  • Of Course No-One is Buying: Average Cost of New Home is 6x Median Income

    06/13/2014 7:10:01 AM PDT · by SeekAndFind · 12 replies
    Townhall ^ | 06/12/2014 | Mike Shedlock
    A couple of recent reports will help put the bifurcated US home "recovery" in perspective. Priced Out First, please consider Many Seek New Homes Near Cities but are Priced Out The average price of a newly built home nationwide has reached $320,100 — a 20.5 percent jump since 2012 began. That puts a typical new home out of reach for two-thirds of Americans, according to government data. Yet many builders have made a calculated bet: Better to sell fewer new homes at higher prices than build more and charge less. Their calculation is partly a consequence of the growing...
  • Liberals want to walk, and conservatives want big houses: survey

    06/12/2014 10:12:18 AM PDT · by illiac · 44 replies
    MarketWatch ^ | 6/12/14 | MarketWatch
    Yes, neighbor, but what do YOU think? Among the many findings of a new Pew Research Center survey is this data about neighborhoods, and how Americans want them to look: more conservatives than liberals want to live in a place where most people share their political views. The survey found that, among the consistently conservative, 50% believe it’s important to live in a place where most think the way they do about politics. For consistent liberals, it’s 35%. Check out the Pew poll. The divide over neighborhoods doesn’t end there. Many more liberals than conservatives want communities where the houses...
  • Half of Americans can’t afford their house

    06/03/2014 1:00:57 PM PDT · by 2ndDivisionVet · 28 replies
    Market Watch ^ | June 3, 2014 | Quentin Fottrell
    As the housing market slowly recovers, a majority of homeowners and renters are finding it hard to meet rising rents and mortgage payments, new research finds. Over half of Americans (52%) have had to make at least one major sacrifice in order to cover their rent or mortgage over the last three years, according to the “How Housing Matters Survey,” which was commissioned by the nonprofit John D. and Catherine T. MacArthur Foundation and carried out by Hart Research Associates. These sacrifices include getting a second job, deferring saving for retirement, cutting back on health care, running up credit card...
  • Brace Yourself for Another Wave of Underwater Borrowers

    06/03/2014 8:32:02 AM PDT · by SeekAndFind · 9 replies
    Townhall ^ | 06/03/2014 | Mike Shedlock
    Black Knight's April Mortgage Monitor shows almost 2 million modifications face interest rate resets, and 40 percent of those resets are underwater. Email News Release "We have seen a continual reduction in the number of underwater borrowers at the national level for some time now, but modified loans show a different picture," said Kostya Gradushy, Black Knight's manager of Loan Data and Customer Analytics. "While the national negative equity rate as of April stands at 9.4 percent of active mortgages, the share of underwater modified loans facing interest rate resets is much higher -- over 40 percent. In addition, another...
  • Soon You Can Buy The World's First Commercial House 3D Printer for Ł9,800 ($16,000 USD)

    05/31/2014 2:57:06 AM PDT · by 2ndDivisionVet · 13 replies
    International Business Times ^ | May 30, 2014 | Mary-Ann Russon
    Have you always wanted to try your hand at 3D-printing a building? Are you jealous of the Chinese architect who 3D-printed 10 houses in 24 hours? Well, you might be interested in buying the world's first commercial house 3D-printer for Ł9,800 (€12,000, $16,000). Slovenian firm BetAbram have designed a 3D printer capable of printing a house, and they plan to release it in August under the name BetAbram P3. This 3D printer can print buildings measuring 12 sq m, and so far, the company has only produced miniature houses and sculptures with the printer. BetAbram is also planning to release...
  • One contractor wants to build an entire house with a cement 3D printer

    05/30/2014 12:00:19 AM PDT · by 2ndDivisionVet · 19 replies
    BGR ^ | May 28, 2014 | Chris Smith
    While houses of varying quality have been 3D-printed before, one contractor in Minnesota wants to build one such home by using a specially designed 3D printer that uses cement as a filament, without compromising on build quality or design, 3DPrint reports. Furthermore, the contractor’s aim isn’t to finish the house as fast as possible, but rather to 3D print it efficiently and securely. “A cheap house built in 24 hours is not my goal,” Andrey Rudenko said. “My current focus is building well-insulated small or medium-sized homes of a contemporary design, definitely onsite. As an experienced builder, I know that...
  • Obama will wait until after election to impose his vision of how we should live

    05/28/2014 10:17:00 AM PDT · by afraidfortherepublic · 40 replies
    Powerline ^ | 5-28-14 | Paul Mirengoff
    I wrote here and here about the Obama administration’s proposed rule on “affirmatively furthering fair housing” (AFFH), an attempt to dictate how we shall live. In essence, President Obama seeks to use the power of the national government to create communities of a certain kind, each having what the federal government deems an appropriate mix of economic, racial, and ethnic diversity. The proposed AFFH rule, issued last July, was expected to be finalized by the end of last year. But the year ended with no further action. 2014 was supposed to be the year Obama’s “year of action” — the...
  • Economist: The Case-Shiller Home Price Report 'Makes No Sense'

    05/27/2014 10:23:27 AM PDT · by blam · 10 replies
    Mamta BadkarMay 27, 2014 We just got March S&P Case-Shiller home prices that beat expectations. The numbers showed home prices were cooling, but they nevertheless reflected increases on month-over-month and year-over-year bases. However, Ian Shepherdson chief economist at Pantheon Macroeconomics says "this report makes no sense." This is because "every indicator" of the house market he watches is slowing or falling. "We don't know if the March problem is Easter seasonal adjustments or the long-standing issue of fully adjusting for changes in the proportion of foreclosure sales in the sample, but we think the real trend in existing home prices...
  • Rent or Buy? The Math Is Changing

    05/27/2014 7:00:59 AM PDT · by SeekAndFind · 52 replies
    New York Times ^ | 05/27/2014 | Neil Irwin
    Billy Gasparino and Jenna Dillon-Gasparino were savvy enough to wait out the housing boom of a decade ago as renters. Not until 2010, well into the bust, did they buy a house in the Venice neighborhood of Los Angeles, less than a mile from the beach, for $810,000. Only four years later, the couple see new signs of excess in the housing market and have decided to go back to renting. They are close to a deal to sell their house – for $1.35 million, a cool 67 percent gain. “It just seems like the housing market came back so...
  • Here's The Salary You Have To Earn To Buy A Home In These 12 Major US Cities

    05/21/2014 8:36:19 AM PDT · by SeekAndFind · 20 replies
    Business Insider ^ | 05/21/2014 | Libby Kane
    In the wake of reports that teachers are being dramatically priced out of the San Francisco area and that 45% of Manhattan homes are purchased in cash, sometimes you just have to wonder: Who can actually afford to buy a home? Mortgage website HSH.com analyzed median home prices and interest rates for common 30-year, fixed-rate mortgages, as well as property taxes and insurance costs, to figure out how much money it would take to pay a home's mortgage principal, taxes, and insurance — and how much you would have to earn to afford it. You can check out its website...
  • Here’s an Idea: For $37K, You Can Live in a Shipping Container

    05/08/2014 12:33:36 AM PDT · by Olog-hai · 29 replies
    Fox News Insider ^ | May 07 2014 2:11PM
    For $37,000 you can live in what used to serve as a shipping container. Steve Harrigan reported today on a new out-of-the-box idea that could solve several problems at once. Florida-based New Generation Builders is taking old cargo shipping containers and retrofitting them into dwellings. To look at one, you might think of a mobile home, but the company’s owner, Steven Sawyer, resents the comparison. He notes that when a hurricane comes through, it levels mobile homes. But Sawyer says by using corrugated steel and concrete pilings to anchor down each side, his homes will be totally undamaged. …
  • SCADPads: Tiny Homes Built In An Atlanta Parking Garage Are 135-Square Feet of Awesome

    05/02/2014 10:39:23 PM PDT · by 2ndDivisionVet · 46 replies
    The Weather Channel ^ | May 2, 2014 | Jess Baker
    (VIDEO-AT-LINK)Weave your way to the top covered-floor of a parking garage in Midtown Atlanta, shielded from heavy rain and direct sunlight, and you won't find cars filling the spaces between the yellow lines. Instead, you'll find three micro homes and a handful of outdoor patios, all part of a micro-housing experiment the Savannah College of Art and Design (SCAD) calls SCADPads. As city populations boom — the World Health Organization says 6 out of 10 people will live in a city by 2030 — urban planners are pressured to seek out wise housing methods. "If you look at where parking...
  • Rents Soar To Record High As Homeownership Rate Plunges To 19 Year Low

    04/29/2014 1:43:52 PM PDT · by SeekAndFind · 23 replies
    Zero Hedge ^ | 04/29/2014 | Tyler Durden
    Each quarter, when we perform our regular update on trends in US homeownership and rents using Census Bureau data, we say that "The American Homeownership Dream is officially dead. Long live the New Normal American Dream: Renting." One thing we added in 2013 is that the American Dream has now officially became a full-blown nightmare after mortgage rates exploded, even if declining modestly afterward, and in the process pummeling the affordability of housing as well as grounding any new mortgage-funded transactions to a complete halt (don't believe us - just ask the tens of thousands of mortgage brokers let...
  • New giant 3D printer can build a house in 24 hours

    04/28/2014 3:38:50 PM PDT · by 2ndDivisionVet · 30 replies
    NDTV Gadgets ^ | January 13, 2014
    Scientists claim to have developed a revolutionary new giant 3D concrete printer that can build a 2,500-square-foot house in just 24 hours. The 3D printer, developed by Professor Behrokh Khoshnevis from the University of Southern California, could be used to build a whole house, layer by layer, in a single day. The giant robot replaces construction workers with a nozzle on a gantry, which squirts out concrete and can quickly build a home based on a computer pattern, MSN News reported. It is "basically scaling up 3D printing to the scale of building," said Khoshnevis. 'Contour Crafting' is a...
  • US Housing Market Is Down For The Count

    04/27/2014 4:51:51 PM PDT · by blam · 18 replies
    Market Oracle ^ | 4-27-2014 | Raul_I_Meijer
    US Housing Market Is Down For The CountHousing-Market / US Housing Apr 27, 2014 - 10:55 PM GMTRaul I Meijer Recent news, graphs and data confirm what we have long said would inevitably become clear: the entire global economy appears to have “functioned” through an orgy of refinancing, LBO and M&A lately. That is to say, zombie money has been enthusiastically slushed and re-slushed around to provide commissions, bonuses etc. to bankers and brokers, a process enabled by central bank and government policies in which large amounts of credit were thrown against the wall like so much Jello, hoping –...
  • Desert Developer's Woes Buffet Reid [Coyote Springs about 50 miles from Bundy's ranch]

    04/26/2014 5:44:43 PM PDT · by Jim Robinson · 14 replies
    WSJ ^ | June 10, 2012 | By ALEXANDRA BERZON
    Six years ago, Senate Majority Leader Harry Reid celebrated what he called a "love fest" of government support for the construction of a proposed 150,000-home community in the Nevada desert and the lobbyist-turned-developer behind it, Harvey Whittemore. Last week, a federal grand jury charged Mr. Whittemore with making illegal political contributions to Mr. Reid, a Democrat. Even before the indictment, Mr. Reid and other politicians had begun to distance themselves from Mr. Whittemore—long one of Nevada's most powerful lobbyists—by pledging to charity money to offset donations they had gotten from him. ~~snip~~ The allegations against Mr. Whittemore stem from a...
  • New Home Sales Plunge - And It's Not the Weather

    04/24/2014 9:25:31 AM PDT · by SeekAndFind · 11 replies
    Townhall ^ | 04/24/2014 | Mike Shedlock
    The Census Bureau report New Residential Sales Report shows sales of new single-family houses in March 2014 were at a seasonally adjusted annual rate of 384,000. Sales are 14.5 percent below the revised February rate of 449,000 Sales are 13.3 percent below the March 2013 estimate of 443,000 Median sales price was $290,000 vs. $260,900 in February, $257,500 in March of 2013 Average sales price was $334,200 vs. $318,900 in February, $300,200 in March of 2013 Median sales price was up 11.5% from last month, 12.6% from year ago Average sales price was up 4.8% from last month, 11.3% from...
  • Washington Post columnist: Home ownership is a lousy investment

    04/23/2014 7:43:15 AM PDT · by SeekAndFind · 59 replies
    Hotair ^ | 04/23/2014 | Ed Morrissey
    Most people include home ownership as one of the basic elements of the American Dream. It stands not just for independence, but also in most minds an investment in tangible and significant property. It’s not a universally-held goal — some people prefer to rent even with the means to own — but home ownership is usually seen as one of the building blocks to middle-class wealth.As I noted, some people prefer to avoid home ownership, but not usually on the basis of it being a lousy investment. See if you can pick out the huge, gaping flaw that the Washington...
  • Sowell: The High Cost of Liberalism

    04/21/2014 2:03:16 PM PDT · by jazusamo · 26 replies
    Creators Syndicate ^ | April 22, 2014 | Thomas Sowell
    Liberals advocate many wonderful things. In fact, I suspect that most conservatives would prefer to live in the kind of world envisioned by liberals, rather than in the kind of world envisioned by conservatives. Unfortunately, the only kind of world that any of us can live in is the world that actually exists. Trying to live in the kind of world that liberals envision has costs that will not go away just because these costs are often ignored by liberals. One of those costs appeared in an announcement of a house for sale in Palo Alto, the community adjacent to...
  • These 3D Printed Mini Apartments Could Be the Future of Mobile Homes

    04/19/2014 6:59:10 PM PDT · by 2ndDivisionVet · 64 replies
    Complex Art & Design ^ | April 19, 2014 | Kaitlyn Schaeffer
    The 3D printer has been revolutionizing everything from art to medicine to accessories, and its latest foray has been into the field of architecture. Peter Ebner, architect and UCLA professor, tasked his architecture students with a homework assignment for the ages: develop a 3D-printed apartment that’s easy to transport and manage. The class rose to the challenge and then some, constructing mini mobile homes that measure 50 square feet and are equipped with thermal insulation, electricity, water, heating, and sewage systems (which are also 3D printed). The living area comes with a collapsible counter, a foldaway toilet, a pullout bed,...
  • The ‘Foreclosure Crisis’ Has Ended: But government and media don't want you to know that.

    04/17/2014 7:00:09 AM PDT · by SeekAndFind · 22 replies
    National Review ^ | 04/17/2014 | Tim Cavanaugh
    America’s foreclosure crisis has been over for more than a year, if it ever really existed. But the government/activist/media blob is still trying to convince the public that there is an epidemic of bad borrowers who need public relief. At Harvard Law School, a student group called Project No One Leaves recently concluded its fourth annual conference aimed at creating what one attendee called “a multi-faceted, national housing justice alliance.” Milwaukee mayor Tom Barrett recently gave $200,000 to a community organization called ACTS Housing to fight the foreclosure crisis by buying up bank-owned properties — even as the number...
  • Healthy Texas Economy Causes Surge in Housing Market

    04/15/2014 12:07:18 PM PDT · by 2ndDivisionVet · 1 replies
    Breitbart's Texas ^ | April 15, 2014 | Kristin Tate
    Housing markets have remained relatively weak in many areas of the U.S., with two notable exceptions: Washington, D.C. and Texas. Overwhelming evidence suggests that while the federal government, one of the nation's largest employers, is responsible for the ever-increasing housing demand in D.C.--the private marketplace is behind Texas' boom. The Lone Star State's pro-business environment, low taxes and reliable regulation have caused businesses to flock to the state. The result has been a bountiful job market, which draws individuals and families to Texas from around the world--many are eager to purchase homes upon arrival. Fresh statistics released by the federal...