Negative equity and foreclosure
When does strategic default make sense for a negative equity homeowner?
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Category: Recessions
Despite Q4 2023 FRM rate slippage, Buyer Purchasing Power remains negative
Today’s homebuyer is limited to borrowing 9.7% less mortgage money than a year earlier due to higher interest rates alone.
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California home sales volume: more misses in November 2023
Just 18,800 new and resale home transactions closed escrow in California during November 2023.
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Mortgage delinquencies inch higher, equity shields homeowners — for now
Even as mortgage delinquencies rise, high levels of equity continue to shield homeowners from foreclosure.
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California home sales volume: the slide continues in October 2023
Year-to-date home sales volume is a fee-killing 29% below 2022 as of October 2023.
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Using the yield spread to forecast recessions and recoveries
The yield spread indicates the likelihood of a recession or recovery one year forward.
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Today’s homebuyers settle in for the long haul
In a rapid shift amounting to whiplash for real estate agents, today’s homebuyers will need to own for years before they gain enough equity to move again.
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Financial risk is high in these California metros
In terms of financial safety, most California metros rank low, with the housing market to blame.
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Mortgage industry sees more originations in 2024, despite also anticipating a recession
The MBA’s crystal ball shows more mortgage originations in 2024 – but also a recession.
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California home sales volume: downturn solidifies in September 2023
California home sales volume in September 2023 was down 14% from the prior month — and down 20% from a year earlier.
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Alternative fee structures to attract clients when home prices are falling
Sellers attempting to save money when prices are falling often turn to FSBOs – here’s how you can regain fee-adverse clients.
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Rental vacancies advance; rents fall back. Surprised?
The rent is still too darn high — but not as high as it was yesterday here in California.
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Press Release: Negative Buyer Purchasing Power Index (BPPI) casts a shadow over home prices
Planning for the next several years in real estate transactions will require patience and a very different approach to the past decade of recovery economics driven by rate decreases.
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As consumer mortgage complaints jump — originations plummet
In 2022, the number of consumer mortgage loans originated by DFPI licensees was down a shocking 70% from the prior year.
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Tightened mortgage standards lock out mid- to high-tier homebuyers, sellers
Mortgage loan availability fell in July 2023 to its lowest level in a decade for non-qualified mortgages (QMs).
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No one wants to sell — does that mean the renovation revolution is here?
Would-be renovators are finding themselves wedged between a rock and several hard places.
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Today’s homeowners are stuck on yesterday’s rates
Sticky homeowners are unwilling to relieve the inventory shortage in 2023.
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The news media has the wrong take on mortgage rates
Media pundits in their coverage of today’s high mortgage interest rates ignore the 60-year cycle of rising and falling mortgage rates and the seller’s pricing response to rising and falling rates.
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Community bankers agree: the recession is here
An overwhelming 95% of community bankers say the economy is already in a recession as of Q2 2023.
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Price cuts moderate during spring bump, with more to come
Any seller confidence gained during spring’s meager seasonal boost is premature.
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