| Search by tag or site | Login to my blog ? Start my own blog |
 |
Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Real Estate News, Notes, Links
Posted on 11/06/2006 00:00 AM | Link | Post Comment
Credit score changes could spark housing boom
from MSNBC.com, reports that the slumping housing market could get a $200 billion boost from new immigration home buyers as mainstream lenders start using methods to score credit, a national group of Hispanic real estate agents said Friday. A handful of new credit reporting systems-- already used by 200 real estate brokers, community groups and mortgage counselors nationwide-- allows lenders to calculate risk by evaluating a prospective client's utility bills, rent checks and other payments. Currently, recent immigrants who lack Social Security numbers or legal status in the U.S. are rejected by the three major credit bureaus. Should the new method gain wider acceptance on Wall Street and among secondary mortgage lenders like Freddie Mac, housing markets in states like California, Texas and Arizona could gain the most. "Gateway states like California and Texas will disproportionately benefit from the housing boom because so many of their residents are immigrants," said Gary Ocasta of the National Association of Hispanic Real Estate Professionals. A study at the Joint Center for Housing Studies at Harvard University shows that Latinos will account for nearly one-third of the home buying pool by 2010. That same year, the disposable income of Hispanics will exceed $1.08 trillion, or 9.2 percent of total purchasing power nationwide, according to the Selig Center for Economic Growth at the University of Georgia.
Experts weigh in on market in Phoenix
from the Arizona Republic, reports that a number of local and national real estate gurus are tracking the Valley's housing market and here is what they have to say. There were 53,509 listings on the market on Nov. 1. That's 12 homes to every home buyer in the market now, according to Jay Haugen of Re/Max Anasazi Realty. More than 4,500 new homes, complete or nearly finished, sit unsold in Valley subdivisions, according to Belfiore Real Estate Consulting. Metro Phoenix has a 35 percent chance of falling prices, according to PMI's U.S. Market Risk Index, but 24 other areas, including Las Vegas and San Diego, have a greater chance that prices will drop. Well-known Arizona housing analyst RL Brown still has a "red code" on his monthly newsletter and says "The end (of the housing market's slowdown) is not yet in sight, and the market is still seeking the bottom."
from MSNBC.com, reports that the slumping housing market could get a $200 billion boost from new immigration home buyers as mainstream lenders start using methods to score credit, a national group of Hispanic real estate agents said Friday. A handful of new credit reporting systems-- already used by 200 real estate brokers, community groups and mortgage counselors nationwide-- allows lenders to calculate risk by evaluating a prospective client's utility bills, rent checks and other payments. Currently, recent immigrants who lack Social Security numbers or legal status in the U.S. are rejected by the three major credit bureaus. Should the new method gain wider acceptance on Wall Street and among secondary mortgage lenders like Freddie Mac, housing markets in states like California, Texas and Arizona could gain the most. "Gateway states like California and Texas will disproportionately benefit from the housing boom because so many of their residents are immigrants," said Gary Ocasta of the National Association of Hispanic Real Estate Professionals. A study at the Joint Center for Housing Studies at Harvard University shows that Latinos will account for nearly one-third of the home buying pool by 2010. That same year, the disposable income of Hispanics will exceed $1.08 trillion, or 9.2 percent of total purchasing power nationwide, according to the Selig Center for Economic Growth at the University of Georgia.
Experts weigh in on market in Phoenix
from the Arizona Republic, reports that a number of local and national real estate gurus are tracking the Valley's housing market and here is what they have to say. There were 53,509 listings on the market on Nov. 1. That's 12 homes to every home buyer in the market now, according to Jay Haugen of Re/Max Anasazi Realty. More than 4,500 new homes, complete or nearly finished, sit unsold in Valley subdivisions, according to Belfiore Real Estate Consulting. Metro Phoenix has a 35 percent chance of falling prices, according to PMI's U.S. Market Risk Index, but 24 other areas, including Las Vegas and San Diego, have a greater chance that prices will drop. Well-known Arizona housing analyst RL Brown still has a "red code" on his monthly newsletter and says "The end (of the housing market's slowdown) is not yet in sight, and the market is still seeking the bottom."
Home Buyers Back Out Of Deals in Record Numbers With real-estate prices falling around the country and even pro-industry trade groups predicting further declines, consumers are reneging on contracts in droves.
Official Says Bad Data Fueled Rate Cuts, Housing Speculation A Federal Reserve Bank president said that because of faulty inflation data, interest rates were kept low longer than necessary this decade, fueling speculative activity in the real-estate market.
- Are Financials Suddenly Cheap? Part Ii
- Are Financials Suddenly Cheap?
- Top 10 Sectors & Stocks By Relative Strength (weekly Update)
- Short-Term Sell Signals Given
- "Who Is Next?" By Dick Bove
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- January 2008
- December 2007
- November 2007
- October 2007
- September 2007
- August 2007
- July 2007
- June 2007
- May 2007
- April 2007
- March 2007
- February 2007
- January 2007
- December 2006
- November 2006
- October 2006
- September 2006
- August 2006
- July 2006
- Millionaire Now!
- The 7 Steps to Millionaire Now!
- Build Your Financial Plan
- RETIRE RICH: Survival Guide
- ASSET ALLOCATION MODEL
- THE BIG ROLLOVER IS HERE
- THE END OF THE GRAND SUPERCYCLE?
- Millionaire Now! by Larry Nusbaum
- The Boston Real Estate Blog
- Biiwii.com Notes
- Investor Alert
- In The Money
- Newmark's Door
Examples
Morpheus Trading - Thu Jul 17, 2008 01:15AM
NOTE: Please click on the charts below to enlarge them if th [read more]
NOTE: Please click on the charts below to enlarge them if th [read more]
Morpheus Trading - Mon Jul 21, 2008 08:33AM
NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
The Swing of Things - Thu Jul 17, 2008 09:36AM
I used to make a pretty good living sharing hard won [read more]
I used to make a pretty good living sharing hard won [read more]
<< My Home | TheMoneyBlogs Home