An interesting article in the NY Times: Irish Legacy of Leniency on Mortgages Nears an End Although there are more than 143,000 delinquent home mortgages in Ireland, foreclosures have been so politically and legally difficult that, in the last three months of last year, they numbered 38. To put this in perspective, in the...
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From RealtyTrac: U.S. Foreclosure Starts Fall to Six-Year Low in January RealtyTrac® … today released its U.S. Foreclosure Market Report™ for January 2013, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 150,864 U.S. properties in January, a decrease of 7 percent from the previous month and...
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Here is how Reuters reported on existing home sales: Existing Home Sales Unexpectedly Fall 1 Percent U.S. home resales unexpectedly fell in December as fewer people put their properties on the market, although not by enough to derail the boost housing will likely provide to the economy this year. There is so much wrong...
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From Nick Timiraos at the WSJ: Cost of Bailing Out Fannie and Freddie Expected to Fall Sharply Fannie Mae and Freddie Mac are expected to begin repaying taxpayers for their bailout faster than initially projected, in part because of an improving housing market. The Federal Housing Finance Agency, the companies’ federal regulator, released a...
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Two foreclosure reports: one national predicting an increase in distressed sales; the other regional (west) predicting less foreclosure inventory. Both could be correct … (Update: the reports have conflicting data for California – on that one is probably wrong!) RealtyTrac released their midyear foreclosure report this morning: 1 Million Properties With Foreclosure Filings in...
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Below are three more graphs based on the June employment report. For more employment graphs and analysis, see: • June Employment Report: 80,000 Jobs, 8.2% Unemployment Rate • Employment: Another Weak Report (more graphs) • Percent Job Losses: Great Recession and Great Depression • All Employment Graphs Participation Rate The following graph shows the...
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From Realtor.com: May 2012 Real Estate Data On the national level, inventory of for-sale single family homes, condominiums, townhouses and co-ops declined by -20.07% in May 2012 compared to a year ago, and declined in all but two of the 146 markets covered by REALTOR.com. The median age of the inventory fell -9.78% on...
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The Financial Times is reporting: US, France and UK consider oil release Asked by reporters … whether France would join a US-UK move to release strategic stocks, Eric Besson replied: “It is the US that has asked for it. France is favourable to the suggestion.” The minister added: “We are waiting...
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Nick Timiraos at the WSJ has some details about the settlement. He also writes that the settlement documents might be filed in court tomorrow. Here is the online site for the mortgage settlement. Note the “National Mortgage Settlement (coming soon)” in the upper right. From Timiraos: Mortgage Deal Is Built on Tradeoffs Settlement documents,...
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Not a surprise … from the WSJ: IMF Draft Sees Greek Debt Reaching 129% of GDP in 2020 The International Monetary Fund now expects Greece’s debt to reach 129% of the country’s gross domestic product in 2020 … That is even further above the level most economists consider sustainable than previously thought, making it...
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