Housing recovery

Housing recovery to 'accelerate' U.S. economy: Summers

Wed, 19 Jun 2013 20:39:16 GMT

Source: www.reuters.com --- Wednesday, June 19, 2013
JERUSALEM (Reuters) - A recovery in the Housing market and strong growth in consumer wealth will help jump-start the U.S. economy later in 2013, said Larry Summers, a former adviser to President Barack Obama. ...

Will fast-rising mortgage rates harm housing recovery?

Wed, 19 Jun 2013 13:34:19 GMT

Source: assets.bizjournals.com --- Wednesday, June 19, 2013
Mortgage rates in the past few weeks have risen at the fastest pace since 2010, sparking fears that the Housing market could weaken and undermine the country’s economic recovery, the Washington Post reports Wednesday. In the short term, the jump in interest rates is spurring home buyers in some hot markets to action, adding to the already frenzied competition to get a home. But a sustained rise would hurt a fragile Housing recovery, which has climbed out of the depths of its crash with the help… ...

Housing recovery could stall with rising mortgage rates

Wed, 19 Jun 2013 10:20:48 GMT

Source: www.bizjournals.com --- Wednesday, June 19, 2013
Mortgage rates are inching up, climbing at the fastest pace since 2010, The Washington Post reports, and it is generating concern that higher rates could hurt the Housing market and the rest of the economy. Rates are still hovering at the 4 percent mark, historically low. And for now, the rising rates are fueling activity in some metros where markets are hot, as homebuyers rush to get the still-low rates. Still, refinancing activity is down, and consistently rising rates could have a greater impact… ...

Rising mortgage rates elicit fears they could hurt housing recovery

Wed, 19 Jun 2013 00:55:36 GMT

Source: www.washingtonpost.com --- Tuesday, June 18, 2013
Mortgage rates have spiked over the past few weeks, rising at the fastest pace since 2010, sparking fears that the Housing market could weaken and undermine the country’s economic recovery. In the short term, the jump in interest rates is spurring home buyers in the Washington region and other hot markets to action, adding to the already frenzied competition to get a home. But a sustained rise would hurt a fragile Housing recovery, which has climbed out of the depths of its crash with the help of record-low rates, economists said. Read full article >> ...

HOUSING RECOVERY? – STARTS FLAT – PERMITS FALLING

Tue, 18 Jun 2013 12:55:41 GMT

Source: www.theburningplatform.com --- Tuesday, June 18, 2013
The MSM is doing their usual spin to another terrible Housing number. We actually consider the contruction of apartments to be on par with single family homes. Apartments are built by corporations to rent out. Single family homes are built when a family signs a contract with a builder. There were a total of 58,000 single family home started in the entire country of 316 million people and 115 million existing households. WOW!!! The fact is that despite the Wall Street created home price increases in the last year, the real Housing market is still DOA. Single family Housing starts are always flat and permits for future construction always fall when you are experiencing a Housing recovery. Right? These shitty numbers are before the recent surge in mortgage rates. Check out that fabulous single family Housing recovery, all the way back to 2008 levels, and only 65% below 2005 levels. I might also add that single family starts are below levels during the recession of 1970-1971 when the population was 204 million. I guess the truth depends on your perspective. U.S. Housing starts up 6.8% to 914,000 in May WASHINGTON (MarketWatch) – Construction on new U.S. houses rebounded 6.8% in May to a seasonally adjusted annual rate of 914,000 after a large drop in the previous month, the Commerce Department estimated Tuesday. The gain was below expectations. Economists polled by MarketWatch had forecast construction starts in May to increase to ...

John Paulson bets on housing recovery, not gold

Mon, 17 Jun 2013 19:09:15 GMT

Source: www.mining.com --- Monday, June 17, 2013
Billionaire hedge fund manager John Paulson, who amassed his fortune betting against subprime mortgages as the Housing bubble burst, has been scoring big gains recently by going long on mortgage insurers, CNBC reports . The past couple of years have been tough ones for Paulson. His financial woes have been well documented of late, as the value of his personal stock holdings dropped over $300 million in just a couple days during gold's April collapse. Just before that Paulson had long been telling investors that gold would remain an attractive safe haven and hedge against inflation. But recently, he chose to tell them not to pay so much attention to reports of big losses on the company’s gold holdings because they represent “a small portion of assets under management.” The businessman’s Gold Fund, the firm’s smallest strategy and comprised mostly of the billionaire’s own money, has dropped 47% this year through April. Paulson, 57,introduced his gold thesis in April 2009, right after the Federal Reserve, the gatekeeper of the US economy, announced plans to add $1 trillion to the financial system by purchasing longer-dated Treasury bonds and mortgage-backed securities. Gold was trading at less than $1,000 at the time. Image from archives The post John Paulson bets on Housing recovery, not gold appeared first on MINING.com . ...

More proof that the housing recovery is real

Mon, 17 Jun 2013 16:35:07 GMT

Source: money.cnn.com --- Monday, June 17, 2013
More builders say sales conditions are good rather than poor, confirming earlier signs of a Housing recovery. ...

Commissioner Constable Highlights Available Services at ‘reNew Jersey Stronger’ Housing Recovery Centers in Atlantic, Cape May and Ocean Counties

Mon, 17 Jun 2013 15:48:39 GMT

Source: newjersey.realestaterama.com --- Monday, June 17, 2013
TRENTON, NJ - June 17, 2013 - (RealEstateRama) -- New Jersey Department of Community Affairs (DCA) .Commissioner Richard E. Constable, III today met with Sandy-impacted residents at the ‘reNew Jersey Stronger’ Housing recovery Centers serving Atlantic, Cape May, and Ocean counties and encouraged eligible homeowners whose primary residences were damaged or destroyed by Superstorm Sandy to apply for two grants designed to encourage them to resettle in their homes and help them repair, elevate or rebuild their residences ...

Housing Recovery Is For Real

Mon, 17 Jun 2013 14:08:00 GMT

Source: peacecorpsworldwide.org --- Monday, June 17, 2013
The Mortgage Corner Those who doubt the real estate recovery aren’t paying attention to the latest sales’ data. We reported last week the Pending Home Sales Index , a forward-looking indicator based on contract signings, rose 0.3 percent to 106.0 in April from 105.7 in March, and is 10.3 percent above April 2012 according to the National Association of Realtors. The data reflect contracts but not closings. And Southern California home sales were the highest since May 2006, reports DataQuick , The median price paid for all new and resale houses and condos sold in the six-county Southland was $357,000 last month, up 23.1 percent from $290,000 in April 2012, and the highest since June 2008, when the median was $360,000. “ What seems obvious is that if prices keep rising fast they’ll cause many more people to list their homes for sale,” said DataQuick President John Walsh, “and that increase in supply should at least slow the rate of price appreciation ,” he said. The doubters are mainly those who believe the Federal Reserve is artificially stimulating home sales by keeping interest rates so low, such as Barron’s conservative economist Gene Epstein . “Why barely one cheer, then (for the Housing recovery)? Because this Housing recovery has been so stuffed with government steroids, you wonder if it could make it on its own if these drugs were withdrawn.” But lower interest rates are necessary when consumers buying power has shrunk so b ...

Are there enough first-time buyers to sustain housing recovery?

Sun, 16 Jun 2013 16:01:00 GMT

Source: www.philly.com --- Sunday, June 16, 2013
Philadelphians Luis Valenti, 25, and Eleonora Barbieri, 26, are getting married July 14. If planning a wedding doesn't seem stressful enough, the couple are settling July 10 on their first house, a duplex in the 2200 block of West Thompson Street listed at $155,000. ...

Dallas Fed says state’s housing recovery will continue, with rising prices

Sat, 15 Jun 2013 00:50:42 GMT

Source: www.star-telegram.com --- Friday, June 14, 2013
Job growth helped boost the market to near pre-boom levels ...

Signs of a Housing Recovery?

Thu, 13 Jun 2013 23:34:30 GMT

Source: money.blogdig.net --- Thursday, June 13, 2013
According to a well-known gauge of the U.S. Housing market, home prices have been on an upswing. The latest S&P/Case-Shiller 20-City Composite Home Price Index, which was released in May, posted its biggest gain in seven years. This improvement has spurred renewed optimism about Housing's role in the country's economic recovery.What does the latest S&P/Case-Shiller home price index reveal about home prices?The 20-city index--one of several S&P/Case-Shiller Housing ---- link MoneyTalks: The Best Money, business, finance blog posts from around the web The Best Money, business, finance blog posts from around the web ...

Housing recovery may spur more foreclosure action

Thu, 13 Jun 2013 15:20:56 GMT

Source: www.marketwatch.com --- Thursday, June 13, 2013
Foreclosure activity went up 2% in May because banks were more aggressive in repossessing homes. RealtyTrac's Daren Blomquist says the Housing recovery is actually one reason for that. ...

Housing Recovery Already Comes to an End?

Thu, 13 Jun 2013 14:11:33 GMT

Source: www.profitconfidential.com --- Thursday, June 13, 2013
The Housing market simply isn’t improving at the rate many in the mainstream media are telling us. Home prices are still significantly lower than what they were during 2005 and 2006. On its own, there is no Housing market recovery. All we are witnessing is the mere reflection of easy money provided by our central bank. As I often write, to see a real recovery in the Housing market, we need to see first-time home buyers active in the market. Unfortunately, they are not involved. In April, first-time home buyers accounted for only 29% of all existing home purchases in the U.S. Housing market. This was three percent lower than the previous month and 17% lower than April 2012, when first-time home buyers accounted for 35% of all home purchases. (Source: National Association of Realtors, May 22, 2013.) According to a survey by Fannie Mae, last month, 40% of Americans said it’s a good time for them to sell their home. In April, the survey showed only 30% thought the same thing, and in the same period a year ago, this number stood at 16%. (Source: Realtor Magazine , June 11, 2013.) Hence, we are going to see more listings hit the Housing market. The inventory of homes for sale in the U.S. Housing market increased four percent in April from the previous month nationally, but what’s troubling is that in a few areas, such as Stockton and Sacramento, California, new listings have surged 75% from a month earlier. The basic concept of economi ...

3 Investment Themes - The Welfare Bubble, Housing Recovery And LED Lighting

Thu, 13 Jun 2013 13:34:04 GMT

Source: seekingalpha.com --- Thursday, June 13, 2013
By Paulo Santos : This is the seventh article in a series of articles covering and summarizing different investment themes/thesis. These themes are usually very powerful and explain the moves of stocks, entire sectors or even the entire market. The relevance of themes for specific stocks, sectors and even the entire market is explained in the first article in the series (linked below). The previous articles in this series (by the order they were published) can be found here: 3 Investment Themes To Consider Another 3 Investment Themes To Consider Yet Another 3 Investment Themes To Consider 3 More Investment Themes To Consider 3 Investment Themes - Global Warming, Renewables And The Education Bubble 3 Investment Themes - CPU Integration, Digital Delivery And Cloud Computing Themes 19-21 This article will be the seventh in a series of articles summarizing themes, which are moving specific sectors or markets today. Knowing these themes can help when Complete Story » ...

Housing recovery is real, Southern California May home sales were highest in 7 years, while median price hit a 5-year high

Wed, 12 Jun 2013 14:46:12 GMT

Source: www.aei-ideas.org --- Wednesday, June 12, 2013
DQNews is reporting that Southern California May home sales were the highest for the month in 7 Years, and the median sales price increased 24.7% year-over-year in May to $368,000 the highest median price for any month since May 2008, five years ago. ...

Beck Attends Opening of Housing Recovery Center in Freehold

Wed, 12 Jun 2013 03:58:12 GMT

Source: www.senatenj.com --- Tuesday, June 11, 2013
Facility to Provide Assistance and Counseling to Storm Victims Looking to Rebuild Senator Jennifer Beck today attended the opening of the New Jersey Department of Community Affairs’ (DCA) ‘reNew Jersey Stronger’ Housing recovery Center in Freehold. Eligible homeowners whose primary residences were damaged or destroyed in the storm can visit the Housing recovery Centers to apply in-person for two grants designed to encourage them to resettle in their homes and help them repair, elevate or rebuild their residences. Homeowners will have access to Housing counselors who will assist in navigating the entire application process and provide support and clear guidance. “This facility will be a boon to those affected by Sandy who are looking to rebuild and move forward,” said Beck. “The Center will be open seven days a week 8:00AM – 8:00PM to provide our residents with assistance and guidance. The DCA will also be offering mobile offices for those unable to get to the Freehold office.” Read the rest of Beck Attends Opening of Housing recovery Center in Freehold (101 words) ...

Does a middle class recovery require a housing recovery?

Tue, 11 Jun 2013 09:47:24 GMT

Source: njrereport.com --- Tuesday, June 11, 2013
From Forbes: Housing Boom Is The Best Chance For A recovery For The Rest Of Us Our tepid economic recovery has been profoundly undemocratic in nature. Between the “too big to fail” banks and Ben Bernanke’s policy of dropping free money from helicopters on the investor class, there have been two recoveries, one for the rich, and another less rewarding one for the middle class. Viewed in this light, the recent run-up in home prices, the biggest in seven years, offers some relief from this dreary picture. Home equity accounts for almost two-thirds of a “typical” family’s wealth (those in the middle fifth of U.S. wealth distribution); there is no other investment by which middle-class families can so easily grow their nest eggs. … Perhaps even more important, the growth of Housing sales also revives something many have written off as obsolete: “the American dream” of owning a home. Since the great recession, some economists have argued that the future of America will be a “rentership” society. Others such as Richard Florida have argued forcibly that home ownership is “over-rated,” maintaining that America’s fixation on it has fostered “countless forms of over-consumption that have a horribly distorting affect on the economy.” Workers, he argues, are better off as renters since this allows them to change jobs more nimbly. If anything, he suggests, the government would be better off encouraging “renting, not buying.” … Perhaps this is ...

Meet the New Landlord Behind the Housing Recovery

Mon, 10 Jun 2013 18:59:39 GMT

Source: ml-implode.com --- Monday, June 10, 2013
``As it turns out, the surge was not mainly the result of first-time buyers or growing families or job relocators. Rather, as Nathaniel Popper reported in The Times, Wall Street investors -- including the Blackstone Group and other private equity firms -- have been big buyers in the troubled areas where prices have been rising the fastest. Those gains, in turn, have propelled rising home prices nationwide, in part by reducing supply and in part by fostering a shift in perceptions about the Housing market that has drawn some potential home buyers off the sidelines. '' ...

Blackstone Defends Its Role in Housing Recovery

Mon, 10 Jun 2013 18:06:34 GMT

Source: www.thestreet.com --- Monday, June 10, 2013
NEW YORK (TheStreet) -- Over the past year, Blackstone and other Wall Street investors have been buying up thousands of single-family foreclosed homes in bulk and converting them into rentals, a business that has been viewed with skepticism by Housing bears and with concern by first-time homebuyers who believe institutional investors are driving up home prices to unaffordable levels. An editorial in the New York Times on Sunday argued that the Housing recovery has been investor-driven and that "the pain and damage" from the Housing bust will linger for a long time. Blackstone, which buys single-family homes through its Invitation Homes subsidiary, disagrees. In a blog post Monday, it defended its role in the Housing recovery, arguing that critics who blamed investors for rising home prices were wrong and ignored the positive role that private capital played in the market. ... Click to view a price quote on BX . Click to research the Financial Services industry. ...