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rffrydr
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 Posted: Mon Apr 07, 2008 7:31 am Post subject: |
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McMansions come late:
http://www.cnbc.com/id/23993467
| Quote: | | Bogdanovic and Arko have sold many foreclosed properties to investors looking to rent them out. But there's no market for a million-dollar rental property, they say. |
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rffrydr
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HenryTo
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HenryTo
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| Posted: Tue Apr 15, 2008 1:03 am Post subject: |
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An ongoing discussion on the U.S. housing market on the GaveKal discussion forum. Note that I have put my "two cents" in towards the bottom of the comments:
http://gavekal.com/forum3/default.aspx?f=2&m=2624 |
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rffrydr
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HenryTo
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rffrydr
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| Posted: Wed Apr 16, 2008 11:46 am Post subject: |
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There's a qualitative issue here that'll probably accelerate the turn. The big far-suburban developement cities here with the posterboy for all things RE are getting hit hard. Meanwhile urban So. Cal holds up surprisingly well. The vast tracts of homes that were tolerated by sellouts rolling their profits into more for less in hopes of doing it all again among others, are paying a premium to "get close." Crude and time cut one way; depreciation the other. Look for "the other side of the tracks" to take on a whole new meaning;as well as geography.
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rffrydr
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rffrydr
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rffrydr
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| Posted: Tue Apr 22, 2008 8:18 am Post subject: |
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Back to six on the conforming.
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dknoester
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HenryTo
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| Posted: Wed Apr 30, 2008 12:13 am Post subject: |
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FYI:
Delinquency Rate
Growing More Slowly
http://online.wsj.com/article/SB120951348606254561.html?mod=RealEstateMain_1
| Quote: | Among pools of subprime mortgages made in the second half of 2005, the proportion of loans that were more than 60 days delinquent rose by 1.23 percentage points in April to 35.9%. That compared with a 1.61-percentage-point increase in March, a 2.36-point increase in February and a 2.64-point rise in January, according to a report from Wachovia Capital Markets. The report said similar trends were observed in April for loans made in 2006 and the first half of 2007. On average, between 25% and 40% of the subprime loans in these groups are more than 60 days delinquent.
While it is hard to predict when the subprime market will hit bottom, some analysts think the recent data indicate that some sort of stabilization is under way.
"The trajectory is beginning to flatten out, and this could be a turning point for prices" of mortgage securities, said Glenn Schultz, a senior analyst at Wachovia. As many poorly underwritten subprime loans made between mid-2005 and mid-2007 go bad early in their lives, Mr. Schultz expects the remaining loans to perform more normally.
In recent weeks, some portions of the ABX indexes have bounced off their record lows, and traders say some investors are buying subprime bonds again after their market prices dropped to deeply discounted levels.
But many market participants remain skeptical or bearish about the outlook for subprime. Richard Parkus, an analyst at Deutsche Bank Securities, says the recent remittance data showed "no clear evidence of any recovery," and his firm continues to expect extraordinarily high levels of losses among subprime loans. |
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rffrydr
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HenryTo
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HenryTo
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