Published by REALTOR Magazine on May 28, 2020 The COVID-19 pandemic has not set off a wave of foreclosures, in large part because the government has put moratoriums on foreclosures and banks are offering mortgage forbearance options for homeowners who have lost their jobs. “Zombie foreclosures”—homes that sit vacant—are actually down 3.1% from the first …
Zombie Foreclosures Have Dropped Slightly Despite COVID-19 Read More »
Published by Realtor Magazine on May 22, 2020 The 30-year fixed-rate mortgage continued to near its lowest average on record. The lowest average on Freddie Mac records dating back to 1971 is 3.23%, which was set the week ending April 30. This week, 30-year fixed-rate mortgages averaged close to that, at 3.24%. “For the fourth …
Mortgage Rates Hover Near Record Lows, Could Decline Further Read More »
“No State shall … pass any … law impairing the Obligation of Contracts” (Article 1, Section 10, US Constitution)…” Nor shall private property be taken for public use, without just compensation” and…Violations of Substantive Due Process (5th Amendment US Constitution). On May 8, 2020, Attorney Doug Michie of Ventura filed a complaint with the 3rd District of the …
Lawyer’s Swift Action Forces Gov. Newsom’s ‘No Eviction’ Order to be Rescinded Read More »
Published by Realtor Magazine May 28, 2020 Home buyers are entering the market at a much brisker pace than many economists forecasted. Mortgage applications for home purchases continue their upward streak, rising 9% last week compared to the previous week, the Mortgage Bankers Association reports. This marks the sixth consecutive gain for home purchase applications …
Mortgage Applications Defy Forecasts, Up 54% Since April Read More »
The world is having serious doubts about the once widely accepted presumption of American exceptionalism. By Stephen Roach Published June 8, 2020 The era of the U.S. dollar’s “exorbitant privilege” as the world’s primary reserve currency is coming to an end. Then French Finance Minister Valery Giscard d’Estaing coined that phrase in the 1960s largely out …
Application fraud is growing in residential rental markets since the Chinese virus began making headlines, according to a new analysis from Snappt, a real estate tech and fraud detection company. Applicant fraud has risen 9% month-over-month since the pandemic, with some inflating their income to qualify for rental or disguising the source of their income. …
Americans purchased far more new homes in April than expected, a sign that the residential real estate impact of the coronavirus could be less extreme than feared by many forecasters. Sales of newly-built single-family houses occurred at a seasonally-adjusted annual rate of 623,000, the Commerce Department reported Tuesday. Economists had expected sales to fall to …
New Home Sales Shock: Americans Bought Far More Homes Than Expected in April Read More »
“Unlike the stock market, home prices are not expected to drop because of the ongoing housing shortage and due to homes getting delisted during this time of crisis. For the past couple of months, we have seen the number of buyers grow as more people enter the market. Once the social distancing and quarantine measures …
NAR® Chief Economist: House Prices Should Not Drop Read More »
Jimmy Napier, who many credit with giving them their start in note investment (including me), has died at age 83. Jimmy authored the ground-breaking book “Invest In Debt,” which for many people was their first introduction to the concept of discounted paper. He also taught numerous seminars and recorded courses during the 1970’s until recently. …
The “Take Responsibility for Workers and Families Act” was introduced in the US House by US Rep. Nita Lowey (D, NY) on 5/12/20. You can read that bill here. Among other things, the bill says that a landlord can’t evict a tenant who doesn’t pay. It also means that the landlord can’t evict a tenant …
Will Congress Bankrupt The Mom-And-Pop Landlord With This Socialist New Bill? Read More »
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