Intro House prices are on the rise. This happens every year. Sometimes this age-old phenom starts a month or two earlier or later than the year before depending on the timing and size of the stimulus aimed at housing. But, save some divergence in 2007 & 2008 (NAR prices up/CS down) you can always count on [...]
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This is very important. Real Estate is experiencing one of the most amazing dynamics I have ever witnessed in my 20 years in the sector. This quick note is very micro but extremely important. What it reveals has enormous consequences for housing right here and now. Data such as these confirm my theme of much lower YoY existing [...]
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I make calls to Realtors, mortgage loan officers, builders, housing investors, and various individuals actively involved in the house and mortgage markets every day. I think their street level perception and anecdotes are extremely valuable to housing and mortgage sector research. When talking to these folks I think asking the right questions is paramount. In the month of March — [...]
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So, it’s common knowledge that Foreclosures that turn into REO are responsible for the devastating crash in house prices in the US. Not so fast. As you know I think this is bullshit. In fact, rehab adjusted, REO sells for more than organic resales (i.e., it takes 10% to 15% to fix up the typical [...]
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