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Posts Tagged ‘outlook for housing’

Housing Decline “Takes Your Breath Away”

Posted by Larry Doyle on June 23rd, 2010 2:03 PM |

I was initially reluctant to write about the decline in New Homes Sales reported this morning. Why? Despite all housing reports to the contrary, I have been consistent in remaining bearish on our housing market. I view this report as merely ‘old news’ here at Sense on Cents.

Oversupply, shadow inventories, and limited mortgage credit have merely been disguised by government props and interventions. Ultimately, those props and interventions wear out or expire and the days of cold, harsh reality set in.

Well, today got mighty cool and very real as New Homes Sales plunged by 33%. Am I surprised? No, I am not. Then why am I writing? (more…)

Housing Plans Promote Long, Slow Decline

Posted by senseoncents on February 26th, 2010 9:32 AM |

Why do I remain overall bearish on housing?

All reports to the contrary, the pace of delinquencies will continue to steadily pressure housing — especially in selected markets.

While the Obama administration is dogged by the issues within housing, I continue to believe that their approach is more exacerbating the situation than improving it. What is the crux of the problem within housing? The law of unintended consequences which changes the behaviors of some, given the engagement with others.

Bloomberg provides some insights on Obama’s new proposals toward housing in writing, Obama May Prohibit Home-Loan Foreclosures Without Preview:

The Obama administration may expand efforts to ease the housing crisis by banning all foreclosures on home loans unless they have been screened and rejected by the government’s Home Affordable Modification Program. (more…)

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