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Economics
Tax-credit bounce evident in PA home sales
At the beginning of 2010, for a majority of the reporting regions, sales activities were down, however, sales uniformly picked up in the second, third and fourth months. »
No Comments »FHA launches short refi for underwater homeowners
FHA will offer the new FHA-insured mortgage to certain “underwater” non-FHA borrowers who are current on their existing mortgage and whose lenders agree to write off at least 10 percent of the unpaid principal balance of the first mortgage. »
No Comments »The great debate: McMansions vs. city center condos
The cultural values of the urban-built environment have enabled American citizenry to obtain and maintain the best housing stock in the world. Certainly, immigrants to the U.S. view access to quality housing as a real dream: it is one of the most important features of life here. »
1 Comment »Job loss and medical bills top factors contributing to PA foreclosures
Job loss and unexpected medical bills are among the top factors contributing to home foreclosures in Pennsylvania, according to a survey commissioned by the Pennsylvania Association of REALTORS® (PAR). »
No Comments »Job growth key to housing recovery
So what should we expect? Much depends on the employment picture and its impact on house prices over the next several months. If job growth returns, prices will continue to stabilize and market demand will improve. »
1 Comment »The politics and economics of the homebuyer tax credit
It is virtually certain that tax credits have no long-term impact on the market, however, the objective is to support the housing market and real estate industry in the short-term. Endorsing a short-term subsidy is one thing; observing a lasting effect is quite another. »
4 Comments »Urban Land Institute study: The age of suburbanization is over
Housing in America: The Next Decade, a major report by John McIlwain of the Urban Land Institute, has much to say about the current state of affairs, problems with mortgage finance and long-term trends associated with U.S. housing markets. »
3 Comments »New debt could pose threat to closings
Fannie Mae announced changes to its Selling Guide as part of its Loan Quality Initiative earlier this year. This update requires lenders to determine that all the homebuyer’s debts are disclosed on the final loan application. »
No Comments »Housing recovery: Smooth sailing or rocky road?
National and local commentators seem to be filled with welcome optimism regarding the recovery of the economy and its impact on housing markets. »
3 Comments »The mess at Goldman Sachs
It seems appropriate in these harsh and uncertain economic times to observe Congressional hearings on the business practices of what were once widely admired executives of American business. When things don’t work out well in their industries, CEOs can expect to be summoned to Capitol Hill to appear at hearings, often for many hours. »
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