The Los Angeles Times had a story about a family, the Ghitkammanees in Palmdale, dealing with their neighborhood affected by foreclosures. There were 678 foreclosures in Palmdale and Lancaster in the three months ended Sept. 30, compared with 79 during the same period in 2006, according to DataQuick Information Systems. Ghitkammanee wonders how the value of [...]
Filed under: Foreclosure Fever, The Market | Leave a Comment »
This is a question for readers because I’m curious. Do you want to read more about foreclosures or is there something else you would like to read about? (This is not a question for people in the real estate industry — I get a couple calls a week that already answer that.) I’m not talking [...]
Filed under: Foreclosure Fever | 2 Comments »
Who says no one is doing anything about the foreclosure crisis? Apparently our Attorney General Jerry Brown is hard at work, according to the Los Angeles Times. The nation’s No. 1 mortgage lender, Countrywide Financial Corp., is under investigation by California Atty. Gen. Jerry Brown and the attorney general’s office in Illinois, the Calabasas company [...]
Filed under: Mortgage Mania | Leave a Comment »
So who can afford to buy a home in the Bay Area? If you’re like me, you often wonder if it’s really all hedge fund managers or professional sportsters (yes, I’m making that a word.) According to the California Builders Industry Association, California’s affordability is pretty minimal. In its quarterly National Association of Home Builders/Wells Fargo [...]
Filed under: House Hunt, The Market | Leave a Comment »
I was busy yesterday doing a retail story, but I’m back and I have this little link to kind of explain the Fed’s actions cut interest rates and then to put more “liquidity” in the market (read: bail out investors with more cash.) Here’s a snapshot from MarketWatch: The Federal Reserve and other top central [...]
Filed under: Mortgage Mania | 2 Comments »
According to this graphic courtesy of the WSJ, the people most likely to default were those subprimers with adjustable-rate mortgages. Those with fixed rates didn’t have as much of a problem. Also, cast your eyes on the primers — they too had a higher rate when they used adjustable-rate mortgages. What does this mean? It [...]
Filed under: Mortgage Mania, The Market | Leave a Comment »
