A year ago, Dave Altig asked Just how out of line are house prices?. Dr. Altig’s post featured both a price-to-rent graph and a real house price graph originally from the NY Times based on Professor Robert Shiller’s work. The price-to-rent ratio graph Dr Altig presented seemed to show that house prices were getting...
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A bill recently introduced in the House of Representatives would establish an independent office charged with investigating banks' complaints about regulatory examiners. Reps. Shelley Moore Capito, R-W.Va., and Carolyn Maloney, D-N.Y., sponsored the Financial Institutions Examination Fairness and Reform Act, H.R. 3461 in an effort to ease regulatory burdens on community banks. The act,...
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The House of Representatives voted 292-121 to restore the elevated conforming limits for jumbo mortgages for the Federal Housing Administration Thursday. The Senate is expected to give a final vote in the coming days. Members of a joint committee compromised earlier this week to include language in a minibus spending bill that would raise...
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I’ve been following the Sacramento market to see the change in mix over time (conventional, REOs, and short sales) in a distressed area. The Sacramento Association of REALTORS® started breaking out REOs in May 2008, and short sales in June 2009. As I’ve written before: “I’m not sure what I’m looking for, but I’ll...
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The elevated conforming loan limit for mortgages guaranteed or insured by the government will expire on Oct. 1, according to three congressional staffers, but another chance to extend them will come later this year. Congress raised the limit to as high as 9,750 in 2008 as the private market froze and financing for larger...
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Once the tumultuous debt ceiling negotiations settle, Washington officials said the Obama administration will begin a revitalized effort to address lingering concerns in housing finance reform. When debt ceiling talks resolve remains a question. President Obama took to a town hall meeting Friday morning urging lawmakers to forge a deal, but the Senate rejected...
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The Department of Housing and Urban Development began a review of its regulations and will continue a periodic review for other rule changes as directed from an executive order from President Obama. In January, Obama directed federal regulators to take public comment on how to tailor existing regulations in order to minimize their burden...
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The U.S. mortgage market does not need Fannie Mae, Freddie Mac, nor a federal government guarantee on mortgage-backed securities, according to one industry expert set to testify before a House subcommittee Wednesday. Anthony Sanders is professor of real estate finance at George Mason University just outside the nation's capital in Northern Virginia. He is...
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The percent of distressed sales in Sacramento declined in April compared to March, because of a seasonal pickup in conventional sales, but this is the highest percentage of distressed sales for the month of April, since the Sacramento Association of REALTORS® started breaking out REOs in May 2008, and short sales in June 2009....
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“I bought my first house in 1996, a four-bedroom for 4,000, and I could probably buy that same house for 4,000. All the appreciation we’ve gained in the last 15 years, it’s gone.” Chuck Whitehead, general manager for Coldwell Banker’s Southwest Riverside operations, via Eric Wolff at the NC Times. Earlier: • First Look...
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