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Housing prices down in all major US markets in November
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by mtippett | January 27, 2009 at 08:42 am
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S&P said its composite index of 10 metropolitan areas also fell 2.2 percent in November from October for a 19.1 percent year-over-year drop, matching the previous month's record decline.
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As the chart above shows, housing prices dropped in every market this month. The monthly declines follow a pattern of steady declines across the US over the course of the year.
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Most RecentMost Recommended Comments (2)
at 21:54 on February 1st, 2009
STOP FORECLOSURES: Fannie Mae and Freddie Mac has helped Streamline Loans, save homes and keep Americans in their homes. But the Loans that were sold to Private Investors are not approving or even willing to follow Fannie Mae and Freddie Mac's policy of STREAMLINING THE SUBPRIME LOANS. Middle Class needs a Mandatory Mortgage Streamline Program that mirrors Fannie Mae and Freddie Mac. Shirely Bears from HUD has the perfect Program. Private Investors are taking advantage of the Middle Income, they are processing the hardship and request of Streamline like a Refinance. If President Obama and Vice President Biden could pass this Mandatory Mortgage Streamline to the Present House Value Appraised and Income adjustment you would see a decrease in FORECLOSURES. My lender is Aurora and I have a Private Investor, not Fannie Mae or Freddie Mac. The Private Investor has denied my request for a Streamline or Loan Modification. I lost my job and my Husband is employed, but if I don't get a job soon I will loose my house because of the PRIVATE INVESTOR's unwillingness to Streamline. Private Investors are running the credits unlike HUD and disqualifying the Homeowners from Streamline Programs. Please I beg you to put this in your policy as an attachment to the Stimulus Package. STOP FORECLOSURES AND HOUSE AUCTIONS. This has to be a MANDATORY LAW or you will continue to see more and more FORECLOSURES.
by Evelin
A VICTIM OF PRIVATE INVESTORS AND LENDERS.
at 10:49 on February 26th, 2009
The housing bubble expanded in the first few years of the 2000s. It took 6 year to Peak. The rapid increase in housing prices was driven by historically low interest rates and generally poor lending standards.
The housing boom ended at different times for different cities and states, but generally speaking, the market stalled in the summer of 2005. In 2006, we saw sliding sales volumes almost everywhere.
Unlike Sock Markets, Real Estate can not be expected to crash and reach bottom quickly. There has been steady re-valuation. But are we anywhere near the bottom?
The global economy will struggle to cope up with falling industrial and consumer demand for several quarters more.
We can not expect Real Estate Market to improve until potential buyers get a feeling of financial security which is absent today.
David Nash: http://www.exclusivereal.com