Free Republic 1st Quarter Fundraising Target: $88,000 Receipts & Pledges to-date: $53,268
Woo hoo!! And we're now over 60%!! Thank you all very much!!

Keyword: realestate

Brevity: Headers | « Text »
  • Monument to Fair Housing . . . AKA govt waste on display

    11/01/2011 1:47:41 PM PDT · by marsh-mellow · 3 replies ^ | 11/1/11 | Daily Real Estate News
    A monument to honor the Fair Housing movement and the historic struggles against discrimination in housing has taken a step forward in possibly getting its place in the nation’s capital
  • What the Costumes Reveal (Foreclosure Mill Throws Homeless Theme Party)

    10/30/2011 8:12:16 PM PDT · by Pan_Yan · 12 replies
    New York Times ^ | October 28, 2011 | Joe Nocera
    On Friday, the law firm of Steven J. Baum threw a Halloween party. The firm, which is located near Buffalo, is what is commonly referred to as a “foreclosure mill” firm, meaning it represents banks and mortgage servicers as they attempt to foreclose on homeowners and evict them from their homes. Steven J. Baum is, in fact, the largest such firm in New York; it represents virtually all the giant mortgage lenders, including Citigroup, JPMorgan Chase, Bank of America and Wells Fargo. The party is the firm’s big annual bash. Employees wear Halloween costumes to the office, where they party...
  • Regulator throws lifeline to underwater borrowers (BHO= overlord in chief)

    10/24/2011 11:43:44 AM PDT · by STARWISE · 21 replies
    Reuters ^ | 10-24-11 | Margaret Chadbourn
    U.S. homeowners who owe more than their properties are worth got new help on Monday when a U.S. regulator expanded a government program in a step that could help up to one million borrowers. The Federal Housing Finance Agency, which oversees mortgage finance giants Fannie Mae and Freddie Mac, eased the terms of a refinancing program which helps so-called underwater borrowers who have been on time with payments but are unable to refinance. *snip* FHFA said it was scrapping a cap that prohibited borrowers whose mortgages exceeded 125 percent of their property's value from participating in the Home Affordable Refinance...
  • Banks Not Wanting to Lend Myth / Preventing Foreclosures Hurting Housing Market

    10/23/2011 5:24:00 PM PDT · by Razzz42 · 10 replies ^ | October, 23 2011 | Mark Hanson (Mr. Mortgage)
    Banks Not Wanting to Lend is a myth. It’s a trendy thing to blame the banks for not wanting to lend, but it’s not reality. Don’t get me wrong…most everything else might be able to be blamed on them, but not this. This is what makes the problem in mortgage and housing so fundamentally grave. It’s just not as easy as lowering rates, doing a mass refi event, or pulling Foreclosures off the market. After nearly 5 years, if there was an easy fix (such as printing trillions of dollars in order to try to create inflation) housing would be...
  • Coming Derivatives Crisis That Could Destroy The Entire Global Financial System (Bank of America)

    10/22/2011 4:55:46 PM PDT · by dennisw · 57 replies
    Most people have no idea that Wall Street has become a gigantic financial casino.  The big Wall Street banks are making tens of billions of dollars a year in the derivatives market, and nobody in the financial community wants the party to end.  The word "derivatives" sounds complicated and technical, but understanding them is really not that hard.  A derivative is essentially a fancy way of saying that a bet has been made.  Originally, these bets were designed to hedge risk, but today the derivatives market has mushroomed into a mountain of speculation unlike anything the world has ever...
  • Congressman: Obama should unilaterally ‘refinance every home mortgage’ [VIDEO]

    10/22/2011 4:59:16 PM PDT · by Sub-Driver · 57 replies
    Congressman: Obama should unilaterally ‘refinance every home mortgage’ [VIDEO] By Nicholas Ballasy - The Daily Caller 11:43 PM 10/21/2011 Virginia Democratic Rep. Jim Moran told The Daily Caller on Thursday evening that President Obama should “refinance every home mortgage” without congressional approval in order to “reset the economy.” “Absolutely, I think [Obama] should do that but there are not a lot of places where he can act unilaterally,” Moran told TheDC during Conservation International’s Oct. 20 dinner in Washington, D.C. “If he chooses to act unilaterally,” Moran said, “the likelihood is that there will be language in the appropriations bills...
  • Earnings, Europe, China

    10/19/2011 12:57:16 PM PDT · by Kaslin ^ | October 19, 2011 | Jack Bouroudjian
    There are three distinct factors that are driving these markets right now: earnings, Europe and China. Let’s break it down, shall we? Earnings. I’ve talked a lot about the lowering of expectations for corporate earnings and how they might have gotten too low over the course of the last couple of months. I also said that we could see some upside surprises. Financials, which everyone expected to be absolutely horrible, aren’t looking quite as bad as we thought. In addition to Citi, Bank of America, of which I’m a fan, came out ahead. Goldman Sachs missed—and not as closely as...
  • China: Ordos Property Developer Commits Suicide (Ordos: ghost city)

    10/15/2011 7:32:57 AM PDT · by TigerLikesRooster · 12 replies
    Caixin ^ | 10/14/11 | Yu Zhixiang
    By staff reporter Yu Zhixiang 10.14.2011 18:39 Ordos Property Developer Commits Suicide Wang Fujin of Zhongfu Real Estate Development Co. took his life and another co-owner of the property development firm Hao Xiaojian is now on the run (Beijing) – The owner of a property firm in the affluent Inner Mongolian city Ordos reportedly committed suicide after defaulting on private loans from individual lenders. In late September, Wang Fujin of Zhongfu Real Estate Development Co. took his life and another co-owner of the property development firm Hao Xiaojun is now on the run, China Business News reported on October 13,...
  • China: Cash Crash for Wenzhou's Private Loan Network

    10/15/2011 7:29:24 AM PDT · by TigerLikesRooster · 3 replies
    Caixin ^ | 10/11/11 | Zhang Bing, Zheng Fei and Zhao Jingting
    By staff reporters Zhang Bing, Zheng Fei and Zhao Jingting 10.11.2011 14:36 Cash Crash for Wenzhou's Private Loan Network Everyone can win and everyone can lose in a Chinese city that plays a risky game of high-interest rate, private lending Dubbed the nation's capital of private financing, the city of Wenzhou offers a textbook example of how non-bank lending has fueled private sector prosperity – and risk-taking – in China. A recent central bank survey said about 60 percent of all local businesses and the vast majority of households are interconnected through the city's private lending system. a It's a...
  • Watchdog Rejects Pelosi Explanation of Late Disclosure

    10/13/2011 10:34:46 AM PDT · by jazusamo · 5 replies
    National Legal & Policy Center ^ | October 13, 2011 | NLPC Staff
    Paul Pelosi, husband of House Minority Leader Nancy Pelosi, will reportedly make millions of dollars from a previously undisclosed real estate venture in Mrs. Pelosi's home state of California. Mr. Pelosi is a real estate developer and an investment banker and entered into this project with the father of the current Ambassador to Hungary, as reported by The Washington Times earlier this week. Mrs. Pelosi helped the ambassador secure her the post. Angelo Tsakopoulos, a longtime associate of Mr. Pelosi put together the deal that involves Russell Ranch, a residential real estate project. Mr. Pelosi's investment has been reported...
  • Home ownership: Biggest drop since Great Depression

    10/07/2011 9:40:36 AM PDT · by Signalman · 6 replies
    CNNMoney ^ | 10/7/2011 | Les Christie
    NEW YORK (CNNMoney) -- The percentage of Americans who owned their homes has seen its biggest decline since the Great Depression, according to the U.S. Census Bureau. The rate of home ownership fell to 65.1% in April 2010, 1.1 percentage points lower than it was in 2000. The decline was the biggest drop since the 1930s, when home ownership plunged 4.2%. The most recent decade-over-decade drop, however, only tells half the story. Home ownership during the 2000s "was really high in the middle of the decade, up to almost 70% at one point around 2004," said Ellen Wilson, a survey...
  • The Folly of Central Planning

    10/06/2011 9:49:11 AM PDT · by Reaganite Republican · 5 replies
    Reaganite Republican ^ | October 6, 2011 | Reaganite Republican
    Over 65 M completed new homes sit unused in China,  along with public buildings/accompanying infrastructure... If the Chinese property bubble pops... what then? The massive public projects under way in communist China today include sprawling housing developments, retail shopping districts, and 'forests' of skyscrapers. Since they were built to support the country's ongoing economic boom and real-estate rush, all these tower block condos, economic centers, and recently-built neighborhoods should be bustling with hard-working Chinese newcomers from the countryside... or so you'd think.But satellite pictures taken earlier this year revealed that China's odd unused-housing stock glut has only gotten worse, if anything: they indeed...
  • Some Anecdotes About Chinese Real Estate, As Told By Deutsche Bank (Sellers getting Desperate)

    10/04/2011 8:11:48 AM PDT · by SeekAndFind · 8 replies
    Business Insider ^ | 10/04/2011 | Also Sprach Analyst
    Yesterday, Deutsche Bank Economist Jim Ma and his team came up with a report, turning somewhat more bearish on China after the Hong Kong/Chinese markets got really killed. They are now expecting GDP growth to slow to or below 7%, and are worried about the exports picture (and among other things). On the real estate market, Jun Ma and associates told an interesting story on the latest development. In recent weeks, the number of phone calls received by an author of this report from China-based property agents has increased several fold, indicating a significant rise in the urgency for developers...
  • The Truth About China: An Economy On The Verge Of A Nervous Breakdown

    10/03/2011 4:59:07 AM PDT · by TigerLikesRooster · 5 replies
    TBI ^ | 10/03/11 | Patrick Chovanec
    The Truth About China: An Economy On The Verge Of A Nervous Breakdown Patrick Chovanec, An American Perspective From China | Oct. 3, 2011, 7:29 AM I just returned from a trip to New York, where earlier last week I gave a talk at the Council on Foreign Relations. The topic was the question on everyone’s mind these days: the outlook for China’s economy. Over the past several weeks, a number of news reports and market figures have caught my attention, which appear to indicate that China’s economy may be approaching a crisis. I use the word “crisis” in the...
  • No Rise in Home Prices Until 2020: Bankers

    09/30/2011 11:24:02 PM PDT · by 2ndDivisionVet · 23 replies
    CNBC ^ | September 30, 2011 | Karina Frayter, CNBC Markets Producer
    Home prices are unlikely to recover before 2020 and mortgage defaults will persist for years, says a survey of bank risk managers out Friday. The survey conducted by the Professional Risk Managers’ International Association for FICO, found that 49 percent of respondents do not expect housing prices to rise back to 2007 levels for another nine years. Only 21 percent of respondents said they would. The findings, which authors called “a decidedly pessimistic outlook”, are a sharp reversal from cautious optimism the survey respondents expressed late last year and in early 2011. In addition, 73 percent of surveyed bankers say...
  • Obama and Insiders Honcho Private-Government Real Estate Sales

    09/27/2011 9:10:41 AM PDT · by Kaslin · 7 replies ^ | September 26, 2011 | Kathy Fettke
    Who’s the largest owner of REO (bank-owned) inventory in the country? The taxpayers! That’s right. You and me. Mortgage giants Fannie Mae and Freddie Mac, along with the Federal Housing Administration (FHA), are currently holding approximately 250,000 foreclosed homes. That’s roughly half of all unsold, repossessed properties. Plus, these government-backed agencies may soon be forced to repossess 830,000 more homes currently in some stage of foreclosure. What’s a government to do with so many distressed properties? Unloading them into the market would only further depress values, while damaging the fragile U.S. economy that depends on real estate stability. Holding the...
  • Existing Home Sales SMASH Expectations With 7.7% Spike

    09/21/2011 7:23:13 AM PDT · by blam · 34 replies
    TBI ^ | 9-21-2011 | Joe Weisenthal
    Existing Home Sales SMASH Expectations With 7.7% Spike Joe Weisenthal Sep. 21, 2011, 10:01 AM Strong numbers. Still historically anemic, but a 7.7% uptick in home sales is well above the 1.7% gain that was expected. On an annualized basis, there were 5.03 million sales vs. 4.75 million expected. The full announcement from the NAR is here. Original post: Besides the FOMC party at 2:15, this is the one big economic datapoint of the day in the US. Analysts expect annualized 4.75 million existing home sales vs. 4.67 million last month. We'll have the number here live at 8:30. (Whoops,...
  • Squatters aren't criminals and can be GOOD for society: Judge orders.. (UK)

    09/05/2011 3:01:33 PM PDT · by ruralvoter · 20 replies · 1+ views
    The Daily Mail (UK) ^ | 9/5/11 | Kerry Mcqueeney
    A list of empty homes in a sought-after London borough is to be made public after a 'squatting supremo' won the right to have the information released in a landmark victory. Camden Council has been told it must disclose the list of vacant properties in its area by a judge who said squatters were good for society and should not be regarded as criminals. The ruling was made despite backing from the police, who agreed with the local authority's fears that disclosing the list could attract criminal damage, arson, drug-related crime and the organised 'stripping' of vacant properties.
  • How Rick Perry Became A Millionaire

    09/04/2011 8:08:05 AM PDT · by BarnacleCenturion · 133 replies
    Business Insider ^ | Aug. 29, 2011 | Grace Wyler
    On the campaign trail, 2012 presidential hopeful Rick Perry plays up his humble roots as a dryland cotton farmer from rural Texas. He rarely, if ever, mentions that he has become a pretty savvy real estate investor during his more than 25 years in office. The Fort Worth Star Telegram reports that Perry's income has soared as he has climbed the political ladder in Austin, thanks largely to a handful of lucrative real estate deals that have made him a millionaire. When Perry was first elected to office in 1985, as a state representative from Haskell, he and his wife...
  • Critics Spin Energy Realities to Oppose Development

    09/02/2011 10:11:48 AM PDT · by Kaslin · 8 replies ^ | September1, 2011 | David Holt
    With our economy continuing to falter, the discussion of leveraging our nation’s vast energy resources to create jobs is taking on renewed importance. Despite a well-established link between energy production and job creation – just observe the unemployment rates of North Dakota (3.3%) and Oklahoma (5.5%) and you’ll see it – some have sought to downplay the economic opportunities provided by the development of our abundant offshore and onshore resources, while others strangely claim that the opportunities for offshore production have actually increased. For example, Duke University’s Bill Chameides recently wrote that “drilling activity in the [Gulf of Mexico’s] deepwaters...