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CNBC’s David Faber talks with Housing Economist Thomas Lawyer about foreclosures and shadow inventory.
On forelcosure activity picking up:
It is virtual certainty…but the backlog of loans in foreclosure are rising, and foreclosure sales will 100% pickup, we just don’t know when.
On the first-time home buyer tax credits (that NAR is lobbying for increasing and extending):
…if you [...]
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Despite all the efforts of our Government to prop up the housing market, both sales and prices have resumed their downward trends.
From The National Association of Realtors Existing-Home Sales Ease Following Four Monthly Gains
Existing-home sales in August gave back some of their strong gain in July but remain above year-ago levels, according to the National [...]
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Mortgage delinquencies continue to rise at an accelerating pace. Nationwide, 1 in 14 homes with a mortgage are 30 days late or more.
Reuters reports Mortgage Delinquencies Rise Alongside Unemployment
Among U.S. homeowners with mortgages, a record 7.58 percent were at least 30 days late on payments in August, up from 7.32 percent in July, according to [...]
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Home Front reports Extension of new-home buyer tax credit fails to pass
The bill, AB 765, was among those pushed aside by bigger final-hour statewide issues, backers said Monday.
“With the prison reform package still being negotiated and water discussions going on, things like that kind of got pushed to the back,” said Willie Armstrong, chief [...]
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