Free Republic 4th Quarter Fundraising Target: $85,000 Receipts & Pledges to-date: $22,258
26%  
Woo hoo!! And the first 26% is in!! Thank you all very much!!

Keyword: housing

Brevity: Headers | « Text »
  • September Existing-Home Sales Hit Fastest Pace Of 2014

    10/21/2014 9:09:09 AM PDT · by ConservingFreedom · 1 replies
    Forbes ^ | 10/21/2014 | Erin Carlyle
    Sales of previously-owned homes rose in September to reach their fastest pace in 2014, even though investors are leaving the market. That’s good news for regular people, who are enjoying low mortgage rates and decreased competition for homes. Sales of existing-homes rose 2.4% in September to a seasonally adjusted annual rate of 5.17 million, according to National Association of Realtors data released Tuesday. Though at their highest pace of 2014, sales remain 1.7% down from a year earlier, when the pace stood at 5.26 million. “Low interest rates and price gains holding steady led to September’s healthy increase, even with...
  • New York Dominates 2014 List of America's Most Expensive ZIP Codes

    10/18/2014 8:42:06 PM PDT · by 2ndDivisionVet · 9 replies
    Forbes Magazine's Life Blog ^ | October 8, 2014 | Erin Carlyle
    In Atherton, Calif., 94027, the most expensive home currently on the market is a 12,840-square-foot Mediterranean mansion with a $21.988 million price tag. Not a millionaire? Good luck finding a place to live in this Silicon Valley enclave. The least expensive home for sale in the 94027 ZIP code is a 1,370-square-foot, two-bedroom, two-bath bungalow. In other words, a starter home–with an asking price of $1.499 million. The median price of the 24 homes listed for sale over the summer was $9.03 million, making Atherton the most expensive ZIP code in America for the second year in a row. “Atherton...
  • How to Steal Things, Exploit People, and Avoid All Responsibility (Reparations, again)

    10/06/2014 11:07:14 PM PDT · by 2ndDivisionVet · 22 replies
    The Atlantic ^ | October 5, 2014 | Ta-Nehisi Coates, senior editor
    I started this narrative bibliography for "The Case for Reparations" back in June, but, regrettably, I didn't finish the final section before I left for the summer. Some time has passed but I think it is very important that, as much as possible, I complete this public acknowledgement of all the previous work that contributed to my own. As I've written, the process began with the understanding that racism was a "done thing" and not an irrepressible clash between people of different hues. Another way of putting this is to say white supremacy is not an invention of white people;...
  • House and Home

    10/04/2014 4:42:30 AM PDT · by Kaslin · 9 replies
    Townhall.com ^ | October 4, 2014 | Paul Greenberg
    It's an old saying: First we shape our buildings, then they shape us. But like many old sayings, it may be more pat than true. It may sound like a great tribute to the power and influence of architecture in our lives, but it's too neat. It sounds too much like an insight to be one. Which explains why it's become more a cliche than an observation. Because the power of architecture surely depends on the power of the architect -- and our own power to accept or reject it, or adapt it to our own idea of what constitutes...
  • Attn Freeper Homeowners: Poll How long did it take you to find the perfect house?

    09/29/2014 8:39:21 PM PDT · by Califreak · 93 replies
    Frustrated Homeseeker ^ | September 30, 2014 | califreak
    Our family just started looking for a home to purchase. Just curious.... How long did it take you to find the perfect house? Our lender took two years. We are finding something wrong with all of them.
  • Mortgage Originations Are Down by 60-70% Year-Over-Year… But Everything’s Okay

    09/23/2014 6:04:46 PM PDT · by Lorianne · 11 replies
    Mandelman Matters ^ | 24 September 2014 | Martin Mandelman
    Mortgage originations for the first quarter of this year fell off a cliff. JPMorgan reported a decline of 71 percent, as I recall, and I think Citibank reported a drop of 66 percent. Now, the second quarter’s bloodletting has come in and the numbers are about the same… down more than 60 percent year-over-year, if memory serves and it often does. Even credit unions went straight into the tank this year, originating an annualized $42.6 billion in real estate loans in the first quarter, down from $102.9 billion in the first quarter of 2013, according to an Nation Credit Union...
  • Report: Border Patrol homes cost $680,000 each

    09/12/2014 11:02:36 AM PDT · by upbeat5 · 21 replies
    The Associated Press via Cableone.net ^ | September 12, 2014 | Astrid Galvan
    TUCSON, Ariz. (AP) — The federal government wasted millions of dollars in building a housing project for Border Patrol agents in Arizona near the Mexican border, spending nearly $700,000 per house in a small town where the average home costs less than $90,000, a watchdog report found. The analysis by the Department of Homeland Security's inspector general found that U.S. Customs and Border Protection overspent by about $4.6 million on new houses and mobile homes in the small town of Ajo southwest of Phoenix. The agency has spent about $17 million for land, 21 two- and three-bedroom houses and 20...
  • Budget Cuts Reshape New York’s Public Housing

    09/12/2014 6:08:50 AM PDT · by reaganaut1 · 16 replies
    New York Times ^ | September 11, 2014 | MIREYA NAVARRO
    The crushing news came less than a year after Diane Robinson and her 24-year-old son moved into an airy two-bedroom apartment in the Bronx. The city, which helps pay her rent, wrote this summer to say she would have to downsize into a one-bedroom apartment or pay $240 more a month in rent. A public school aide, Ms. Robinson, 48, decided to stay in the apartment, in the Castle Hill neighborhood. But on an annual income of about $25,000, she is struggling, she said, and she does not know how long she can hang on. Moving to a one-bedroom apartment...
  • Are High Housing Costs Restraining California's Growth?

    09/11/2014 6:57:48 AM PDT · by SeekAndFind · 32 replies
    RCM ^ | 09/11/2014 | Carson Bruno
    <p>It's no secret. California is expensive. But is it a little more nuanced than that; coastal California is very expensive while inland California is just moderately expensive. Yet, despite being a well-known fact, Sacramento doesn't appear too concerned with California's growing price tag even though there is evidence it could be slowing the Golden State's economic growth.</p>
  • 'World's smallest house' comes with much larger price tag

    09/08/2014 5:37:14 AM PDT · by TigerLikesRooster · 3 replies
    Yahoo! 7 Finance ^ | September 8, 2014
    'World's smallest house' comes with much larger price tag September 8, 2014, 12:00 pm Yahoo7 Finance What could well be the world's smallest house is for sale - but the price they want for just 188 square feet is gobsmacking. If you thought Sydney house prices were spiralling out of control, spare a thought for those poor souls across the seas in London. What could well be the ‘world’s smallest house’ has hit the market, but don’t expect a small price tag to go with it. The term ‘house’ in this case is a bit of a stretch of the...
  • Housing bias dispute could return to Supreme Court

    09/06/2014 6:49:50 AM PDT · by Olog-hai · 7 replies
    Associated Press ^ | Sep 6, 2014 8:48 AM EDT | Sam Hananel
    It’s not easy to prevent the Supreme Court from deciding an issue once the justices have agreed to hear a case. But over the past two years, civil rights advocates have managed to do just that by coaxing settlements in a pair of high-profile housing discrimination cases weeks before the court was set to hear oral arguments. The advocates’ goal was to remove any chance that court conservatives might undermine a powerful legal doctrine the Obama administration and others have used increasingly to enforce the Fair Housing Act. […] In disparate impact cases, plaintiffs rely on statistics to show that...
  • Here's The Salary You Have To Earn To Buy A Home In These 13 Major US Cities

    09/03/2014 7:18:47 AM PDT · by SeekAndFind · 39 replies
    Business Insider ^ | 09/03/2014 | Libby Kane
    In May, we reported on the salary needed to buy a home in 12 major U.S. cities, based on first-quarter data analyzed by mortgage website HSH.com. The site has updated its data according to 2014 second-quarter numbers, which we've listed here (with the addition of Washington, D.C.).Spoiler alert: It's only gotten more expensive.The site looked at median home prices from the National Association of Realtors, along with interest rates for common 30-year, fixed-rate mortgages and property taxes and insurance costs, to figure out how much money it would take to pay a median-priced home's mortgage principal, taxes, and insurance — and how...
  • America is so over homeownership: Why the shift to a renting economy might actually be a good thing

    08/31/2014 7:53:15 PM PDT · by SeekAndFind · 92 replies
    SALON ^ | 08/30/2014 | HENRY GRABAR
    Between 1970 and 1990, the population of Philadelphia shrank by a quarter, dropping from 1.95 to 1.59 million. Like many American cities, it seemed caught in a downward spiral. Since then – like many American cities – Philadelphia has stabilized. The population now appears to have bottomed out at the millennium, and has been regaining residents over the past decade. But as it rebounds, Philly is becoming a different kind of city. In the two most recent decades, which comprise the bounce of the city’s population curve, owner-occupied housing dropped even more steeply than in the ’70s and ’80s. Between...
  • Feds to Advertise Settlement Allowing Deported Illegals to Return

    08/31/2014 7:04:34 AM PDT · by stevie_d_64 · 32 replies
    Breitbart ^ | 28 Aug 2014 | Tony Lee
    As part of a legal settlement that will allow some illegal immigrants who deported themselves from Southern California to return to the United States, the federal government has agreed to advertise the settlement on various Mexican and Spanish-language media outlets. The ACLU filed a class-action lawsuit last year on behalf of eleven illegal immigrants who deported themselves. The settlement reached on Wednesday will only cover "longtime California residents with relatives who are U.S. citizens and... young migrants whose parents brought them into the country illegally" who deported themselves between 2009 and 2013. An ACLU official has indicated that there were...
  • This house market is falling apart

    08/29/2014 7:46:46 PM PDT · by Lorianne · 73 replies
    Market Watch ^ | 27 August 2014 | Michael Sincere
    Most real estate experts believe the U.S. housing market is roaring back. Few have anything to negative to say about real estate. But what if they’re wrong? Real estate analyst Keith Jurow, author of the Capital Preservation Real Estate Report, is warning that the real estate market is not as strong as it seems. Says Jurow: “I never bought into the idea that we had a recovery at all.” His research leads him to conclude that home prices will be heading lower. Why? Largely because home listings are going up but sale prices are not. Jurow discovered that as of...
  • Holder cuts left in on $17 billion Bank of America settlement

    08/28/2014 9:42:53 AM PDT · by afraidfortherepublic · 29 replies
    Powerline ^ | 8-28-14
    Radical Democrat activist groups stand to collect millions from Attorney General Eric Holder’s record $17 billion deal to settle alleged mortgage abuse charges against Bank of America, Investors’ Business Daily reports: Buried in the fine print of the deal, which includes $7 billion in soft-dollar consumer relief, are a raft of political payoffs to Obama constituency groups. In effect, the government has ordered the nation’s largest bank to create a massive slush fund for Democrat special interests. The deal requires billions of dollars in debt forgiveness payments to delinquent borrowers. It also requires Bank of America to make billions in...
  • Why a Slowdown in Housing Prices Is Great News

    08/27/2014 7:05:57 AM PDT · by SeekAndFind · 3 replies
    New York Times ^ | 08/27/2014 | Neil Irwin
    There was some glumness in the latest news on housing prices. There shouldn’t be. Slower home price rises — and in some markets, outright declines — are a sign the housing market is starting to move past the boom-and-bust cycle of the last dozen years toward a market where sensible prices driven by local economic conditions prevail. The S.&P./Case-Shiller home price index showed prices rose 8.1 percent in 20 major cities in the 12 months ended in June, the lowest rate of increase since 2012. Compared with May’s prices, national home prices actually declined oh-so-slightly, by 0.1 percent, with six...
  • High Negative Equity Among Gen X Homeowners Causing Housing Market Gridlock

    08/26/2014 11:37:43 AM PDT · by Lorianne · 42 replies
    Seeking Alpha ^ | 26 August 2014
    Generation X homeowners are far more likely to be underwater on their mortgage than millennial and Baby Boomer homeowners, a generational block that could limit the market for years, according to the second quarter Zillow® Negative Equity Reporti. The overall national negative equity rate fell to 17 percent in the second quarter, with more than 8.7 million homeowners with a mortgage owing more than their home was worth. Approximately 42.6 percent of Generation X homeowners (those aged from 35 to 49) are underwater on their mortgage, compared to 15.3 percent of millennial homeowners (20-34 years old) and 31.1 percent of...
  • Commentary: Behind Ferguson’s Unrest, Failed Federal Policy and the Black-White Housing Gap

    08/17/2014 6:47:21 PM PDT · by 2ndDivisionVet · 48 replies
    The International Examiner - the only nonprofit Asian American media in the country ^ | August 17, 2014 | Andre F. Shashaty, New America Media
    A local organizer in a town neighboring Ferguson, Mo., shows a typical “porch.”On the surface, the unrest in Ferguson, Mo., was about local police using deadly force on an unarmed young man. But on a deeper level, it reflected the increasing poverty and economic decline that affects ethnic communities all over America. Despite rosy reports in the media about the end of the national foreclosure crisis and the recession that followed, all is not well in our inner cities and suburbs with largely minority populations, like Ferguson. The foreclosure crisis was hard on many Americans, but it was a disaster...
  • China Appears Ready to Dump Its U.S. Treasury Bonds

    08/13/2014 2:31:29 AM PDT · by Sir Napsalot · 44 replies
    Breibart - Big Government ^ | 8-12-2014 | Chriss W. Street
    Although investors hang on every comment by Federal Reserve Chairwoman Janet Yellen to get insight on the direction of interest rates and what it means for the economy and asset prices, the real power to determine U.S. interest rates may be in the hands of China, according to Lombard Street Research. Facing an overvalued currency that is hurting corporate profits and slowing growth, China appears ready to dump its $1.3 trillion in U.S. Treasury bonds to drive U.S. interest rates up and strengthen the dollar... (snip) China tried to slow the fall of the dollar by increasing its holdings in...
  • Overpay or Be Shut Out; Home "Ownership" Slavery

    08/13/2014 4:55:48 PM PDT · by Kaslin · 34 replies
    Townhall.com ^ | August 13, 2014 | Mike Shedlock
    Supply of homes at the bottom-third of the market is down 17 percent from a year ago. Meanwhile the top-third home supply is up 15 percent while the middle is up a modest 3 percent according to Redfin. The bottom third is anything priced below $198,000. But $150,000 or $200,000 does not buy in terms of size and location what it did just a few years ago. Overpay or Be Shut Out So once again, first-time buyers face the question "overpay or be shut out?" And once again it appears many make a very poor choice.
  • In the Future We’ll All Be Renters: America’s Disappearing Middle Class

    08/10/2014 8:03:28 PM PDT · by SeekAndFind · 35 replies
    Daily Beast ^ | 08/10/2014 | Joel Kotkin
    America’s wealth is concentrating in fewer hands, and while the rich are getting super rich, the once vital middle class is nearing extinction. [SNIP] But today, after decades of expanding property ownership, the middle orders—what might be seen as the inheritors of Jefferson’s yeoman class—now appear in a secular retreat. Homeownership, which peaked in 2002 at nearly 70 percent, has dropped, according to the U.S. Census, to 65 percent in 2013, the lowest in almost two decade. Although some of this may be seen as a correction for the abuses of the housing bubble, rising costs, stagnant incomes and a...
  • Poor Families Use 'Supervouchers' To Rent In City's Priciest Buildings (HUD's Chicago Gold Coast!!)

    07/28/2014 4:47:36 PM PDT · by drewh · 36 replies
    Crains Business Journal ^ | 7/28/14 | By Alby Gallun
    The high-rise at 500 N. Lake Shore Drive is the second-most expensive in the city, with rents for a one-bedroom apartment approaching $3,000 a month, well beyond the reach of most Chicago residents. But that's not too much for the Chicago Housing Authority, which has used federal tax dollars to pick up most of the tab for four lucky residents in the year-old building, with its sweeping views of Lake Michigan, a concierge and a dog-grooming center. The tenants moved in over the past two years as part of a push by the CHA to expand its housing voucher program...
  • ABC, NBC Ignore Grim Housing Report; Focus Instead on Selfie with Queen, 50 Shades of Grey Trailer

    07/25/2014 7:51:10 AM PDT · by george76 · 8 replies
    NewsBusters ^ | July 24, 2014 | Curtis Houck
    Both ABC World News with Diane Sawyer and NBC Nightly News failed to mention a new, troubling report from the Census Bureau on Thursday night that sales of new homes decreased by 8.1% in June and that May’s originally reported double-digit increase was revised lower, from almost 19% to only 8%. The CBS Evening News did cover this story, but it only was in the form of a 12-second news brief from anchor Scott Pelley. Pelley grimly reported that: “Today's report on the housing market is raising concerns about the economic recovery. Sales of new homes dropped sharply last month,...
  • Home Sweet Home in Freight Shipping Containers

    07/23/2014 6:25:24 AM PDT · by Sean_Anthony · 18 replies
    Canada Free Press ^ | 07/23/14 | Dr. Ileana Johnson
    While the world is sizzling and percolating in conflicts and wars, and U.S. is roiling in manufactured crisis after crisis, real or imagined emergencies, overwhelmed by the constant invasion of illegal immigrants, The Washington Post writes on the front page, “Thinking inside the box on D.C. housing costs,” living in repurposed dinged freight shipping containers. Two days before, Deborah K. Dietsch featured “Thinking big in a small way.” (Michael Laris, July 21, 2014)
  • Cost to House Influx of Illegals Stuns Senators

    07/20/2014 1:00:04 PM PDT · by John Semmens · 36 replies
    Semi-News/Semi-Satire ^ | 20 July 2014 | John Semmens
    In testimony before the Senate Budget Committee, Department of Homeland Security Secretary Jeh Johnson shocked senators of both parties when he disclosed that it costs between $250 and $1,000 per day per person to house the illegal immigrants that have been surging across our border with Mexico. "There was an audible gasp, a bipartisan gasp," Senator Marco Rubio (R., Fla.) recounted. "I could take a luxurious Caribbean cruise every day of the year for a lower total cost. I cannot fathom why the spartan accommodations we are providing for these people should cost so much." Senate Budget Committee chairwoman Patty...
  • US housing starts sink in June [Summer of No Recovery]

    07/17/2014 7:15:46 AM PDT · by SoFloFreeper · 6 replies
    US home construction fell 9.3 per cent in June, a surprising sign of weakness for a sector that has struggled to maintain momentum over the past year. Housing starts sank last month to a seasonally adjusted annual pace of 893,000, the weakest showing since September 2013, the Commerce Department said Thursday. It was the second-straight monthly drop....
  • US jobless queue shortens, but housing starts plunge sharply in June

    07/17/2014 6:52:23 AM PDT · by SeekAndFind · 31 replies
    CNBC ^ | 07/17/2014
    The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting the labor market recovery was gaining traction. However, a separate report showed U.S. housing starts and building permits unexpectedly fell in June, suggesting the housing market recovery was struggling to get back on track after stalling in late 2013. Initial claims for state unemployment benefits dropped 3,000 to a seasonally adjusted 302,000 for the week ended July 12, the Labor Department said on Thursday. The prior week's claims were revised to show 1,000 more applications received than previously reported. Economists polled by Reuters had forecast...
  • This Flowchart Could Help You Decide Whether To Buy Or Rent A Home

    07/15/2014 2:09:47 PM PDT · by SeekAndFind · 29 replies
    Business Insider ^ | 07/15/2014 | Libby Kane
  • Here Are The Cities Where Middle-Class Homebuyers Are Screwed

    07/12/2014 10:44:31 AM PDT · by SeekAndFind · 45 replies
    Business Insider ^ | 07/12/2014 | ANDY KIERSZ
    It's really hard for a middle class family to buy a house along the California coast.Real estate research and marketplace site Zillow routinely calculates an index of housing affordability. First, they use a proprietary statistical model to estimate housing values in a metropolitan area. Then, they calculate the monthly mortgage payment for a median price house in each metro area. Finally, they calculate the percentage of the median monthly income for each metro area needed to pay that mortgage payment.For example, Zillow's estimate for the median home price in Abilene, TX during the first quarter of 2014 was $98,600. After...
  • Did China Just Crush The US Housing Market?

    07/10/2014 7:08:23 PM PDT · by Nachum · 16 replies
    Zero Hedge ^ | 7/10/14 | Tyler Durden
    A few days ago we finally closed the door on any argument who the marginal buyer in the US luxury housing segment was - the answer: Chinese oligarchs, scrambling to launder their "hot" domestic money abroad (as we predicted first two years ago) and now that Switzerland is no longer a safe offshore venue where one can park cash, they picked US luxury housing as the best money laundering alternative. This means that far from indicating a recovery, as the recent surge in the high end of the US housing segment had long been touted, all the relentless move...
  • MAP: Where feds are trying to relocate illegal border surgers

    07/09/2014 4:37:17 PM PDT · by Baynative · 38 replies
    numbersUSA ^ | 7/9/14 | Website
    Relocation Map Key As with all maps, you can zoom in and out, and click and drag the map for a different view. (For a larger version of this map click here. You can see a full list of all the communities in the left column.) NumbersUSA is daily updating this interactive map to show which communities are under threat of the federal government moving large numbers of illegal aliens there from the border.
  • There’s no God-given right to live in NYC

    07/07/2014 8:15:41 AM PDT · by SeekAndFind · 27 replies
    New York Post ^ | 07/07/2014 | Kyle Smith
    One thing we know about Mayor de Blasio is that he’s serious about creating affordable, quality housing for all New Yorkers. “This is literally the largest and most ambitious affordable-housing program initiated by any city in this country in the history of the United States of America,” de Blasio declared when he announced his “five-borough, 10-year plan” in May. “It is the largest, fastest affordable-housing plan ever attempted at a local level,” he added, vowing to “change the face of this city forever.” Hear that kids? Your rent worries will soon ease. Great news! I wonder if the new promise...
  • The Riskiest Housing Markets In America [Do you live anywhere near these cities?]

    06/30/2014 12:35:57 PM PDT · by SeekAndFind · 29 replies
    Zero Hedge ^ | 06/30/2014 | Tyler Durden
    As homeownership rates tumble, perhaps it is not just the stagnation of income or piling up of 'other debts' disabling any organic buying frenzy; perhaps, as Bloomberg breaks down, it is the realization that real-estate is nothing less than another boom-bust roller-coaster ride. ??When so much wealth is tied up in one asset, the risk -- or stability -- of a local market can mean a lot to a homeowner and Bloomberg has quantified the 'riskiest' (and most stable) home markets in America... not Vegas, not Phoenix, and not LA... Full Breakdown here And the stablest real estate markets?5. Raleigh, North...
  • Chinese Create Huge 40×40 Foot Graphene / Fiberglass 3D Printer – Planning on Constructing Homes

    06/28/2014 2:43:36 PM PDT · by 2ndDivisionVet · 18 replies
    3D Print.com blog ^ | June 25, 2014 | Randall Desmond ·
    “Bigger is better,” as the old adage goes. When it comes to a juicy steak, or a diamond ring, these words always hold true. When it comes to 3D printing, however, there still remains some debate. The 2nd World 3D Printing Technology Expo was held in Qingdao, Shandong, China this past week (June 19-22). It featured thousands of individuals from China, United States, Germany, Belgium, the United Kingdom, and almost a dozen other countries. They were there to discuss the latest breakthroughs in 3D Printing, including possible applications, material use, business models and more. Qingdao Unique Products Develop Co., Ltd,...
  • Guess Who Is Propping Up The US Housing Market

    06/23/2014 8:14:51 AM PDT · by PoloSec · 13 replies
    Zero Hedge ^ | June 23 2014 | Tyler Durden
    A month ago we showed a chart that, in our humble opinion, summarized all that is wrong with the US housing market. The chart in question showed the April breakdown of existing home sales on a Y/Y basis by pricing bucket.   Needless to say, what the chart showed was the symptomatic, and schizophrenic, breakdown of US housing into two camps: the housing market for the 1%, those costing $750K and above, where the bulk of transactions are mostly between non-first time buyers, and typically take place as all cash transactions, and the market for "everyone else" which continues to...
  • Stick A Fork In Yet Another "Housing Recovery": Starts Tumble, Multi-Family Permits Collapse

    06/17/2014 8:15:01 AM PDT · by SeekAndFind · 6 replies
    Zero Hedge ^ | 06/17/2014 | Tyler Durden
    Blame it on the... spring?Moments ago, in addition to reporting CPI numbers which showed that the Fed has already met and surpassed its 2.0% inflation target (credible or not), the Dept of HUD released Housing starts and Permits data for the month of May. It was, in a word, disappointing. It was so disappointing in fact, that both housing starts and permits not only missed expectations, but tumbled from the previous month by the most since January and the great "Polar Vortex" which was the kitchen sink used to explain the collapse in US GDP in Q1. Perhaps it...
  • Bay Area buyers frustrated by tight supply of homes for sale

    06/01/2014 8:57:37 AM PDT · by artichokegrower · 81 replies
    San Jose Mercury ^ | 05/31/2014 | Pete Carey
    In one of the most agonizing disconnects of the Bay Area's surging economy, far more people want to buy a home than want to sell one, making this the tightest housing market in the nation. Would-be homebuyers are crowding into scarce open houses and battling for the few available, leading to rising prices, rapid sales -- many homes sell within a week -- and frustrated house hunters. "This is the most sustained period of low inventory I've seen in 20 to 24 years," said Chris Trapani, head of the Sereno Group in Silicon Valley.
  • Of Course No-One is Buying: Average Cost of New Home is 6x Median Income

    06/13/2014 7:10:01 AM PDT · by SeekAndFind · 12 replies
    Townhall ^ | 06/12/2014 | Mike Shedlock
    A couple of recent reports will help put the bifurcated US home "recovery" in perspective. Priced Out First, please consider Many Seek New Homes Near Cities but are Priced Out The average price of a newly built home nationwide has reached $320,100 — a 20.5 percent jump since 2012 began. That puts a typical new home out of reach for two-thirds of Americans, according to government data. Yet many builders have made a calculated bet: Better to sell fewer new homes at higher prices than build more and charge less. Their calculation is partly a consequence of the growing...
  • Liberals want to walk, and conservatives want big houses: survey

    06/12/2014 10:12:18 AM PDT · by illiac · 44 replies
    MarketWatch ^ | 6/12/14 | MarketWatch
    Yes, neighbor, but what do YOU think? Among the many findings of a new Pew Research Center survey is this data about neighborhoods, and how Americans want them to look: more conservatives than liberals want to live in a place where most people share their political views. The survey found that, among the consistently conservative, 50% believe it’s important to live in a place where most think the way they do about politics. For consistent liberals, it’s 35%. Check out the Pew poll. The divide over neighborhoods doesn’t end there. Many more liberals than conservatives want communities where the houses...
  • Half of Americans can’t afford their house

    06/03/2014 1:00:57 PM PDT · by 2ndDivisionVet · 28 replies
    Market Watch ^ | June 3, 2014 | Quentin Fottrell
    As the housing market slowly recovers, a majority of homeowners and renters are finding it hard to meet rising rents and mortgage payments, new research finds. Over half of Americans (52%) have had to make at least one major sacrifice in order to cover their rent or mortgage over the last three years, according to the “How Housing Matters Survey,” which was commissioned by the nonprofit John D. and Catherine T. MacArthur Foundation and carried out by Hart Research Associates. These sacrifices include getting a second job, deferring saving for retirement, cutting back on health care, running up credit card...
  • Brace Yourself for Another Wave of Underwater Borrowers

    06/03/2014 8:32:02 AM PDT · by SeekAndFind · 9 replies
    Townhall ^ | 06/03/2014 | Mike Shedlock
    Black Knight's April Mortgage Monitor shows almost 2 million modifications face interest rate resets, and 40 percent of those resets are underwater. Email News Release "We have seen a continual reduction in the number of underwater borrowers at the national level for some time now, but modified loans show a different picture," said Kostya Gradushy, Black Knight's manager of Loan Data and Customer Analytics. "While the national negative equity rate as of April stands at 9.4 percent of active mortgages, the share of underwater modified loans facing interest rate resets is much higher -- over 40 percent. In addition, another...
  • Soon You Can Buy The World's First Commercial House 3D Printer for £9,800 ($16,000 USD)

    05/31/2014 2:57:06 AM PDT · by 2ndDivisionVet · 13 replies
    International Business Times ^ | May 30, 2014 | Mary-Ann Russon
    Have you always wanted to try your hand at 3D-printing a building? Are you jealous of the Chinese architect who 3D-printed 10 houses in 24 hours? Well, you might be interested in buying the world's first commercial house 3D-printer for £9,800 (€12,000, $16,000). Slovenian firm BetAbram have designed a 3D printer capable of printing a house, and they plan to release it in August under the name BetAbram P3. This 3D printer can print buildings measuring 12 sq m, and so far, the company has only produced miniature houses and sculptures with the printer. BetAbram is also planning to release...
  • One contractor wants to build an entire house with a cement 3D printer

    05/30/2014 12:00:19 AM PDT · by 2ndDivisionVet · 19 replies
    BGR ^ | May 28, 2014 | Chris Smith
    While houses of varying quality have been 3D-printed before, one contractor in Minnesota wants to build one such home by using a specially designed 3D printer that uses cement as a filament, without compromising on build quality or design, 3DPrint reports. Furthermore, the contractor’s aim isn’t to finish the house as fast as possible, but rather to 3D print it efficiently and securely. “A cheap house built in 24 hours is not my goal,” Andrey Rudenko said. “My current focus is building well-insulated small or medium-sized homes of a contemporary design, definitely onsite. As an experienced builder, I know that...
  • Obama will wait until after election to impose his vision of how we should live

    05/28/2014 10:17:00 AM PDT · by afraidfortherepublic · 40 replies
    Powerline ^ | 5-28-14 | Paul Mirengoff
    I wrote here and here about the Obama administration’s proposed rule on “affirmatively furthering fair housing” (AFFH), an attempt to dictate how we shall live. In essence, President Obama seeks to use the power of the national government to create communities of a certain kind, each having what the federal government deems an appropriate mix of economic, racial, and ethnic diversity. The proposed AFFH rule, issued last July, was expected to be finalized by the end of last year. But the year ended with no further action. 2014 was supposed to be the year Obama’s “year of action” — the...
  • Economist: The Case-Shiller Home Price Report 'Makes No Sense'

    05/27/2014 10:23:27 AM PDT · by blam · 10 replies
    Mamta BadkarMay 27, 2014 We just got March S&P Case-Shiller home prices that beat expectations. The numbers showed home prices were cooling, but they nevertheless reflected increases on month-over-month and year-over-year bases. However, Ian Shepherdson chief economist at Pantheon Macroeconomics says "this report makes no sense." This is because "every indicator" of the house market he watches is slowing or falling. "We don't know if the March problem is Easter seasonal adjustments or the long-standing issue of fully adjusting for changes in the proportion of foreclosure sales in the sample, but we think the real trend in existing home prices...
  • Rent or Buy? The Math Is Changing

    05/27/2014 7:00:59 AM PDT · by SeekAndFind · 52 replies
    New York Times ^ | 05/27/2014 | Neil Irwin
    Billy Gasparino and Jenna Dillon-Gasparino were savvy enough to wait out the housing boom of a decade ago as renters. Not until 2010, well into the bust, did they buy a house in the Venice neighborhood of Los Angeles, less than a mile from the beach, for $810,000. Only four years later, the couple see new signs of excess in the housing market and have decided to go back to renting. They are close to a deal to sell their house – for $1.35 million, a cool 67 percent gain. “It just seems like the housing market came back so...
  • Here's The Salary You Have To Earn To Buy A Home In These 12 Major US Cities

    05/21/2014 8:36:19 AM PDT · by SeekAndFind · 20 replies
    Business Insider ^ | 05/21/2014 | Libby Kane
    In the wake of reports that teachers are being dramatically priced out of the San Francisco area and that 45% of Manhattan homes are purchased in cash, sometimes you just have to wonder: Who can actually afford to buy a home? Mortgage website HSH.com analyzed median home prices and interest rates for common 30-year, fixed-rate mortgages, as well as property taxes and insurance costs, to figure out how much money it would take to pay a home's mortgage principal, taxes, and insurance — and how much you would have to earn to afford it. You can check out its website...
  • Here’s an Idea: For $37K, You Can Live in a Shipping Container

    05/08/2014 12:33:36 AM PDT · by Olog-hai · 29 replies
    Fox News Insider ^ | May 07 2014 2:11PM
    For $37,000 you can live in what used to serve as a shipping container. Steve Harrigan reported today on a new out-of-the-box idea that could solve several problems at once. Florida-based New Generation Builders is taking old cargo shipping containers and retrofitting them into dwellings. To look at one, you might think of a mobile home, but the company’s owner, Steven Sawyer, resents the comparison. He notes that when a hurricane comes through, it levels mobile homes. But Sawyer says by using corrugated steel and concrete pilings to anchor down each side, his homes will be totally undamaged. …
  • SCADPads: Tiny Homes Built In An Atlanta Parking Garage Are 135-Square Feet of Awesome

    05/02/2014 10:39:23 PM PDT · by 2ndDivisionVet · 46 replies
    The Weather Channel ^ | May 2, 2014 | Jess Baker
    (VIDEO-AT-LINK)Weave your way to the top covered-floor of a parking garage in Midtown Atlanta, shielded from heavy rain and direct sunlight, and you won't find cars filling the spaces between the yellow lines. Instead, you'll find three micro homes and a handful of outdoor patios, all part of a micro-housing experiment the Savannah College of Art and Design (SCAD) calls SCADPads. As city populations boom — the World Health Organization says 6 out of 10 people will live in a city by 2030 — urban planners are pressured to seek out wise housing methods. "If you look at where parking...