Recession or Recovery? What We Call it Doesn’t Matter
While news stories and politicians continue to tout the “recovery,” those on Main Street remain confused. Here are just a few of the news stories that minimize the economic crisis:
Reports of a recession have been greatly exaggerated
Don’t Fear the Double-Dip Recession
US Economy Remains in ‘Recovery Phase’
Of course . . . → Read More: Recession or Recovery? What We Call it Doesn’t Matter
All the confusing information about the economy and housing market has left potential home buyers scratching their heads and wondering, if this is the best of times or the worst of times to buy a home? Recent news reports have shown charts that demonstrate how renting may be significantly less expensive than buying. Others . . . → Read More: The Best of Times or the Worst of Times to Buy a Home?
Lipstick on a Pig – Understanding the Dangers of Rehabbed Foreclosures
Lipstick on a Pig
With millions of homes having been lost to foreclosure and millions more to come, savvy “investors” may purchase some of the best deals with the intention of turning them for a quick profit. Unfortunately, some of those “investors” have little knowledge . . . → Read More: Lipstick on a Pig – Understanding the Dangers of Rehabbed Foreclosures
Several months ago I posted a BLOG describing how government bureaucrats were avoiding involvement with the issue of tainted drywall; and a couple of agencies have now acknowledged their responsibility to provide guidance. The Department of Housing and Urban Development (HUD) and the Consumer Product Safety Commission (CPSC) have recently offered proposals and standards, but . . . → Read More: New Guidelines for the Remediation of Chinese Drywall Only Add to the Confusion
Several weeks ago I wrote a POST describing a settlement offer from Lowe’s for customers who had purchased “tainted” drywall, and the response from most was that the offer was more of a bad joke than a serious effort to help consumers. In the original offer, many of the victims were to receive Lowe’s gift cards . . . → Read More: New Settlement Offer From Lowe’s on Tainted Drywall
Is Home Ownership a Nightmare?
During the past 3 years our country has fallen to its economic knees due to a crisis in our banking system brought about, in large part, by the collapse of the U.S. housing market. And while there are several complex precipitating factors to the current recession, some of which may never . . . → Read More: Home Ownership: Satisfying Dream or Ghoulish Nightmare?
An interesting article in WSJ, “Why We’re in for a Long, Hard Economic Slog,” discusses the results of a recent paper on the impact of housing on GDP and recovery, and it provides interesting insights into past recoveries as well as what we might expect from the current one.
The paper, “Household expenditure cycles and economic cycles, . . . → Read More: No Housing Recovery = No Recovery
Since 2006 Americans have seen the number of foreclosures rise, and the economic damage has been overwhelming, but foreclosures are not just a financial problem. Recognizing the severity of the crisis, the government has put forth several initiatives, some providing aid to banks, their balance sheets deluged with billions in foreclosure inventory, and other plans attempted . . . → Read More: Foreclosures Are More Than A Financial Problem
While the Case-Shiller index reported that July home price gains exceeded expectations, the news may not be cause for celebration. The just-released numbers reflect the spring surge in home sales that resulted from the Housing Tax Credit.
Following the expiration of the tax credit, more recent sales have been abysmal. What we need to see are the . . . → Read More: No Happy Dance For Home Prices Until October–Or Later