DesperateHouseWise.com » housing market

How the west was won, sort of

DHW — Fri, 15 Jan 2010 00:32:17 +0000

From The Orange County Register

“The Fed’s San Francisco unit noted housing in the West is “largely stable” in its 1st “Beige Book,” of 2010 — it’s a Federal Reserve Board report on regional economic conditions that’s done eight times a year.”

Read the entire article.

DHW asks: Do you think the housing market is beginning to stabilize?

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China trying to prevent its own housing bubble

DHW — Mon, 11 Jan 2010 02:47:35 +0000

China announced on Sunday that it will not allow foreign speculative investment to cause a run on home prices.

The directive calls on the central bank and banking regulators to increase oversight and “window guidance” of mortgage lending.

“Relevant departments must enhance monitoring of loans and cross-border investment to prevent illegal inflows of capital into the property market and to avoid the impact of overseas hot money on China’s real-estate market,” the government said.

Reuters reported that approx 1/6 of China’s 10 trillion yuan ($1,5 trillion) in new loans in 2009 flowed into the housing sector.

DHW asks: Do you think China’s plan will stave off a housing bubble?

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It’s official: interest rates at all-time low

DHW — Sat, 05 Dec 2009 02:57:27 +0000

Freddie Mac announced that the average 30-year mortgage interest rate hit a new record low this week at 4.71 percent. The driving force behind the rate’s decline is the government’s initiative to lower borrowing costs and strengthen the housing market.

The Federal Reserve is infusing $1.25 trillion into mortgage-backed securities in an effort to lower interest rates. However, this money is scheduled to run out next spring.

Fixed interest rates on 15-year mortgages also saw a new record low this week. Rates fell to 4.27 percent, down from 4.29 percent last week.

DHW asks: Will these low rates encourage you to purchase or refinance a home?

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Maya Calendar calls housing bottom 2010

DHW — Sun, 25 Oct 2009 21:09:37 +0000

I think this article offers some interesting data. I’ve read similar reports forecasting a US housing bottom in mid to late 2010. However, I don’t know if we can really call a bottom without having a clearer picture of the employement market. If 10% will be the “new” standard for unemployment, as some are suggesting, when will the 90% employed reach a consensus on job security?

DHW asks: When do you see the housing market hitting bottom?

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