There has been a bit of talk in the last few days about a New York Times story published on Tuesday that once again revisits the subject of buying vs. renting: In Sour Home Market, Buying Often Beats Renting In some once bubbly markets, prices have fallen so far that buying a home appears to…
Category: National
National News
Interest Rates SKYROCKET! Everybody PANIC!
Yesterday the Seattle Times ran a syndicated Associated Press piece that came across to me as especially over-the-top…
Foreclosures: Better to let them happen
Barry Ritholtz, who pens the excellent economy news site The Big Picture was on NPR’s “All Things Considered” Friday with some insights on the foreclosure “crisis.” Financial Blogger On Ethics Of Mortgage Modification A full transcript is available at the link above. Here’s an excerpt. SIEGEL: But what’s the risk of providing some kind of…
Video Two-Pack: Pent-Up Supply & High End Condos
Here are a couple of videos for you today. First up, Zillow Chief Economist Stan Humphries on Yahoo News: Here’s the money quote: We think that the amount of pent-up supply that we have of people on the sidelines, combined with the amount of foreclosures that we have, combined with the current negative equity rates…
Banks offering cash incentives for short sale sellers?
Received this via email from an industry insider. It’s a letter from Wachovia Mortgage offering a $5,000 cash incentive to the a (presumably underwater) mortgage holder if they complete a short sale within 60 days. Click either image to enlarge. Quoting in part: These are challenging times and many people feel they are running out…