Monday, October 13, 2008 Oct 14, 2008
"I sure [don't] remember seeing developers holding guns to the heads of all those people buying houses. It's called supply and demand. ... Developers filled a need, nothing more. But hey, they are easy to blame for the stupidity and greed of main street." T jefferson. "I blame the buyers who were buying homes they couldn't afford and lenders who knew they couldn't afford them, but gave them the money anyway because they were making big money on loan fees. The developers were merely fulfilling a... (Lodi News Sentinel, CA)
The U.K's Most Expensive Post Codes Oct 13, 2008
"While the Abramovichs of this world will still be buying houses, it's clear that the next layer down will be impacted.". Bad News Ahead. (Forbes)
Wall Street panic rolling over consumers worldwide Oct 8, 2008
"People have stopped buying houses. I've got a lot of buyers who have secure jobs or who have money, and I'm sure I could get them a loan. But they're just scared. Their feet are stuck.". She's stopped going out to dinner and "all those canned goods in the pantry, we're trying to find a way to use them," she said. (Yahoo News -- Top Stories)
Crowds register to vote before tonight's deadline Oct 7, 2008
"I need someone who's going to turn things around," said Hubbard, who during the past year has watched his once booming business - buying houses, fixing them and selling them - go bust. Assistant County Administrator Brad Merriman, who greeted those in the steady line, said he was surprised, but heartened, by the number of people who were visiting the office. (The Palm Beach Post)
Strapped borrowers flood credit counselors Oct 7, 2008
Palm Beach Post Staff Writers. Sunday, October 05, 2008. (The Palm Beach Post)
The Death of Common Sense in America Oct 5, 2008
People who make terrible decisions, like buying houses they can't afford, coming to this country illegally, or running banks into the ground, have countless defenders in government who don't believe they should suffer for their mistakes. The Democratic candidate for President made a big deal publicly of not wearing a flag pin anymore and only relented when there were cacophonous public complaints. (Townhall.com)
RANTS & RAVES: Get your financial crisis facts straight Oct 4, 2008
I am sick and tired of my salary paying for people who make irresponsible financial choices by buying houses they can't afford. You're "racist" if you don't loan money to them and pay for their mistakes when you do. (Florida Times-Union)
Sleeping in cars Oct 3, 2008
But when people stopped buying houses, her commission-based income dried up, and, like many clients, she too was unable to pay her mortgage. Car sleeper Bonnee still works in the real estate business. (BBC News -- Americas)
China moves again to curb soaring house prices Oct 3, 2008
The down payment rate will remain 20 percent for those who are buying houses smaller than 90 square meters for their own accommodation. Under the circular, all developers will have to fund 35 percentof the investment for the development of any project from their own capital before they can seek loans from commercial banks. (Xinhuanet, China -- Business)
Analysis: Palin eases the hurt in McCain-land Oct 3, 2008
horselover wrote on Oct 3, 2008 7:41 AM:" She is also right about the lending practices of this country so everyone is like the "Jones". So many young people are buying houses out of their budget, new cars,etc. Then wonder why they are broke. Sitting around their kitchen tables wondering how they got into this mess. Sure a new house and cars are wonderful, if you have the cash that is. Truth is, most don't, so they borrow, the banks allowed them to borrow above their means. Just as they do with... (La Crosse Tribune, WI)
While Congress is debating how best to bail out the financial industry, local residents are wondering who's going to help them out with the high costs of gas and groceries. READ THE STORY. Sep 25, 2008
Buying houses we really couldn't afford. so on and so on. (Fredericksburg.com, VA)
Atlanta's a real estate town Sep 24, 2008
And the supply doesn t get absorbed until people start buying houses, and people won t start buying houses until lenders balance sheets return to, well, some balance and they get back to the business of making loans. And that doesn t stand a chance of occurring until Congress acts. (Atlanta Journal-Constitution)
Real Estate Outlook: Predicting the Stock Market's Affect on Housing Sep 23, 2008
The same survey found that consumers' expectations of where we're headed in the economy -- a key index that has a direct connection with people's willingness to consider buying houses -- rose by 13. 1 points, the biggest since 1991. (RealtyTimes)
The cause of trouble: Debt Sep 23, 2008
People were buying houses, new cars, vacationing, housing values were going thru the roof, so to speak. All this was up too 2006. (Albany Democrat-Herald, OR)
Atlanta Federal Home Loan Bank CEO Richard Dorfman: This is the proverbial 100-Year Flood Sep 22, 2008
"This was caused by the astonishing ease of buying houses that weren't truly that cheap," he said. That, in turn, spread across the system as investors lost confidence in the balance sheets of companies who bet heavily on real estate-related loans and securities. (Atlanta Business Chronicle, GA)
Bush's war moves on par with Hitler's Sep 20, 2008
TheGenius wrote on Sep 19, 2008 2:18 PM:" Nevermind the roaring economy we experienced from 2003 to late 2006. Guess that never happened. Dow closed up 300 points today, due in no small part to the moves made by the Administration to take over this mess. This mess, mind you, was influenced in part by politicians who thought that minorities were being discriminated against in buying houses. So what did they do? They mandated that people with lower incomes and of minority groups be given... (Longview Daily News, WA)
Q & A With Ray Martin On New Market Woes Sep 16, 2008
Thats because some firming of housing prices is needed so that financial companies can better determine the underlying value of the collateral of their loans and people can start buying houses, which can help lead to some stability in these areas. Estimates by some experts indicate that this is not likely to occur until late next year and until then there will continue to be more losses declared by the financial industry. (CBS News)
Letters from readers Sep 13, 2008
This, and the easy money supplied by Fannie Mae and Freddie Mac, encouraged the housing bubble, which popped when artificially high values stopped increasing and people stopped buying houses or making payments on those that were losing value. On top of this, Fannie Mae was being run as a playground for the Democrats by Franklin Raines, Bill Clinton's budget director, and Jamie Gorelick. (Florida Times-Union)
Real estate scam in Triangle, Fayetteville halted Sep 11, 2008
According to the attorney general's statement, Jenkins and the other defendants told potential investors the defendants could help them make a profit by buying houses out of foreclosure and renting them out without having to put any money down. Jenkins funded the scheme by misrepresenting the values of the properties he sold to those consumers, Cooper said in the statement, and by causing them to take out mortgages and lines of credit for more than the properties are worth. (News & Observer -- News)
Letters for Monday, September 8, 2008 Sep 9, 2008
People were buying houses, SUVs, trucks, motor homes, etc. like they were selling for 2 each. (Missoulian, MT)
FED BAILOUT WILL LEAVE US ALL ON OUR FANNIES Sep 9, 2008
And the employment situation also makes it clear why so few people are buying houses ... When you take into account the rise in energy prices and the huge jump in overall inflation, you know why so few people are buying houses these days and why so many others who bought during the bubble are losing theirs. (New York Post -- Business)
Q&A with Ken Aston of Hendricks & Partners Sep 8, 2008
I started by buying houses in college. In 1982, I was one of the first brokers hired for C.B. Richard Ellis office when it opened in St. Louis. (St. Louis Business Journal, MO)
First home buyer blog Aug 21, 2008
I suggest buying houses as close as you can to the CBD and use that youthful energy to renovate. If you have just bought a unit or house lately what influenced your decision. (Sydney Morning Herald -- Entertainment)
Primary points to another close race for governor Aug 21, 2008
GG wrote on Aug 20, 2008 6:07 PM:" Hopefully the majority of voters will remember our surplus rainy day fund that we had that was over 1 BILLION dollars. WHERE DID THAT GO? WHY are we facing a 2.7 BILLION deficet? Voters need to remember that for most of the 7+ years of Bush presidency we had a great economy, gas was around $2.00 a gallon, unemployment was at a record low, the Dow Jones hit a record high of over 14,000, everyone was buying new diesel trucks and SUV's (ever look around and see... (Longview Daily News, WA)
John Lott: Looking at Obama's Tax Proposals Aug 19, 2008
Borrowing takes money from those who otherwise would have used it to do everything from investing to buying houses or cars. Ronald Reagan that one wanted to cut marginal tax rates to encourage work and increase the country's total wealth. (Fox News)
* UK on track for more Iraq troop cuts next year Aug 16, 2008
As an example he said property prices had risen sharply in Basra in recent months, with foreign investors, including businessmen from Kuwait, buying houses on the corniche. White-Spunner said Iraqs security forces now estimated there were barely 1,500 hardcore militants left in the city. (Taipei Times, Taiwan -- World)
Illinois offered aid to immigrants. Budgets intervened. Aug 13, 2008
And advocates and state officials credit foreigners for driving labor force growth, building businesses, and buying houses. "We are doing what other states are going to have to be doing one day," said Jos Luis Guti rrez, director of the state's Office of New Americans. (Boston Globe)
Brazilians Party While Loan-Shark Rates Rule: Alexandre Marinis Aug 6, 2008
Use of mortgages for buying houses is just getting started, but already the signs of Brazilians' insatiable appetite for credit are clear. Loans to individuals buying homes still amount to only 3. (Bloomberg -- Columnists)
A CREDIBLE GOVERNMENT REPORT ABOUT THE ECONOMY Aug 5, 2008
This was the seventh straight month of job losses, and this sort of trend isn't going to build up enough confidence for people to start buying houses or cars or anything else. But the number was better than expected, even if much of the hiring came from the government itself. (New York Post -- Business)
Builders wish list Aug 4, 2008
Liw said many people in Malacca are not buying houses as they were hit by soaring inflation and dwindling purchasing power. A single-storey terrace house in Malacca used to cost about RM90,000 but the price has gone up to RM130,000 or more. (The Star Online, Malaysia -- Business)
Bligh says no to slip buyout Aug 3, 2008
"We are open to buying houses in hardship cases and that is a matter for discussion with each individual," she said. "But there are many people in Collingwood Park who love living there and want to keep living there. "What they want to know is when they do want to sell and move on any subsidence effects can be managed and we have given them a guarantee of that and that guarantee survives no matter who is the owner. (Sydney Morning Herald -- Australia)
Boscov's boss says Pa. retailer not collapsing Jul 27, 2008
"Sales are weak overall, particularly in the home store, which you can understand: People are not buying houses, they're not buying sheets or mattresses or beds. As gas prices have gone up, sales have gone down, But we're not collapsing at all," Kenneth S. Lakin told the Reading Eagle in response to a report in Friday's New York Post under the headline "Another retailer's close to collapse.". Lakin acknowledged, though, that some suppliers have stopped shipping to his company. (Somerset Daily American, PA)
HOUSING: Buying in a falling market Jul 27, 2008
The Nowaks are among a growing group of people buying houses who say they believe they not only got a good deal but also believe their dwelling ultimately will grow in value. The newlyweds bought their three-bedroom, 2,250-square foot house in an east San Marcos gated community four months ago. (North County Times)
The litmus test for pessimists or optimists in troubled times Jul 27, 2008
We need rules to ensure that unscrupulous lenders can't finagle people into buying houses they can't afford by offering introductory teaser rates that reset two years later. This is a disaster. (Business Report, South Africa)
Optimists Buy IPhones While Pessimists Hoard Gold: Mark Gilbert Jul 25, 2008
We need rules to ensure unscrupulous lenders can't finagle people into buying houses they can't afford by offering introductory teaser rates that reset two years later. That will help to restore confidence. (Bloomberg -- Columnists)
Development money falls short at $1.2 million Jul 15, 2008
Some funds will be used to create affordable rental housing and to assist low-income residents in buying houses with a down payment. Other funds will be given to non-profit organizations to help with supplies and other needed essentials. (Daily Iowan, IA)
Lose the car, see a bona fide LA neighborhood Jul 13, 2008
"[Tensions] came as the neighborhood has gone from being an immigrant district," Burman wrote in an e-mail, "as well as being an old-guard established Bohemian district, to its present day incarnation as a groovy place that still looks funky." Priced out of buying houses on the west side, younger artists have moved in. "Now there's outright class struggle between old-guard arts types . . . and old-guard Latinos.". (Boston Globe)
The extreme becoming the norm in America Jul 6, 2008
That, in part, would seem to be a factor in the current housing/credit crunch, reflecting the phenomenon of people buying houses they cannot afford but desperately want because of the communities in which they are located. Location, location, location, as the Realtors say. (Greenville Delta Democrat Times, MS)
Good Fences Make Good Neighbours: So To Speak Jul 5, 2008
They are buying houses at choice locations in the capital; they are penetrating the very core of business and extending branches everywhere; they have an itchy nosiness and a native curiosity for money; they are giving their children expensive education; we dont know what they do for money, but they seem to have a lot of it. These were the sentiments of a middle-aged Ghanaian I met at a seminar in London. (Ghana Web, Ghana)
Analyst sees 'ghost town' in Inland Empire... Jul 3, 2008
Don't get me started on the illegals buying houses ... For two years now, my realtor has told me the only people buying houses in the IE were Mexican. (The Drudge Report)
LETTERS: NCT, July 2, 2008 Jul 3, 2008
On the other hand, I saved and skimped when everyone else was buying houses they couldnt afford and guess what. My net worth is growing as a result as Im buying up a lot of those reduced priced properties. (North County Times)
Language skills can grease skids for business Jun 30, 2008
Newly recruited engineers from China in Silicon Valley on H1-B visas need help buying houses and financing car payments, she said. Wells Fargo helps by instructing them how to write checks, protect their credit and invest wisely. (San Francisco Business Times, CA)
Gen Y has its own ideas on homes Jun 26, 2008
This means they are consumers who research everything, including buying houses. They are confident. (AZCentral -- Style)
Rio Rancho is emerging as a bustling community Jun 24, 2008
New and not so new Rio Rancho residents are seeing into the future, and are buying houses in the two or three subdivisions at that location. They will have a front seat view as Rio Rancho: the City of Vision emerges as the third- largest, and possibly the second-largest city in the near future. (Rio Rancho Observer, NM)
New federal rules force realtors to seek IDs Jun 24, 2008
The housing market is hyper-inflated in Alberta already, we don't need more "speculators" buying houses. I have found that some landlords are requesting rent and utilities are to be paid only in cash, but FINTRAC was not interested in looking into that 6 months ago. (CTV.ca)
The bank that comes to you Jun 22, 2008
She declined to discuss its customer numbers in detail but said one reason its business here is growing is that its customers are still buying houses and looking for a bank that will provide financing. "Our client base can well afford the mortgages they have," she said. (Boston Globe)
In Tbilisi, a Battle Over Buildings Fires Investment Debate Jun 14, 2008
"We act like real estate agents, buying houses from residents and selling them to investors," Deputy Mayor Akhvlediani said. "Otherwise, the residents may charge too much for their apartments and end up with nothing. If we purchase the houses, it also gives us an opportunity to make it clear to a corporate buyer what type of construction is allowed on the site.". (EurasiaNet.org)
Ghana Housing Exhibition in Vicenza Jun 8, 2008
Ghanas Ambassador to Italy, His Excellency Charles Agyei-Amoama, has urged Ghanaians in Italy to take advantage of opportunities being offered by Ghana Real Estate Developers Association (GREDA) to consider buying houses in Ghana. He made the statement when he cut a tape to open a Ghana Housing Exhibition Show in Vicenza, north of Italy. (Ghana Web, Ghana)
Sex parties were only part of this scandal Jun 6, 2008
They specialized in buying houses with less than no money down, borrowing more cash than they actually had to pay. One of their homes caused a scandal when it was featured in the local newspaper as being used for sex parties promoted on the Internet. (Fresno Bee -- Business)
All markets now equal in eyes of Fannie Mae May 26, 2008
Under Fannie's prior system, applicants buying houses in designated declining markets had to contribute 5 percent extra in up-front equity compared with borrowers in areas not deemed to be declining. Freddie Mac's policy, which never employed a list of specific areas designated as declining, relied instead on lenders to flag applications using appraisal data or home price indexes. (San Francisco Chronicle)
Bush scales back McCain events at campaign's request... May 25, 2008
and bush is also responsible for americans buying houses they COULDN'T AFFORD. yeah that's right. bush and the american government should be making sure that all americans aren't stupid enough to live outside their means. (The Drudge Report)
The Flexible Floater May 22, 2008
Inflation will be a worry as long as the Federal Reserve Board keeps cutting interest rates to try to get people to start buying houses again. Perhaps Federal Reserve Chairman Ben S. Bernanke knows how to eventually scale down the inflation he induces without causing a recession. (Forbes -- Markets)
California Congresswoman walked away from $578K mortgage... May 22, 2008
It wasn't long ago when everyone was jumping for joy over the housing market while people were buying houses far beyond their means. The chickens have come home to roost and the democraps say it is all George Bush's fault. (The Drudge Report)
A close encounter of the Carla kind May 12, 2008
In London, where sneering at France takes up every second other than those other than those spent buying houses in the Languedoc or Provence, Carla single-handedly elevated her husband's March state visit into a triumph that was marked, as one daily put it, by "acres of admiring British media coverage of his wife.". Reports hailed her as the "new Lady Diana." Carlamania splattered the press with pictures of Carla from which her husband had been cropped. (Globe and Mail -- International)
Clay, what is it good for? May 2, 2008
(Note to self: Stop buying houses covered with snow. Even when spring sprang and the grass started greening up, I didn t realize what I had. (Chippewa Falls Chippewa Herald, WI)
Rates pain goes on Apr 23, 2008
1%, the cost of buying houses gained 1. 7% and electricity prices increased 6. (Sydney Morning Herald -- Entertainment)
CALIFORNIA MELTDOWN: Foreclosures up 327% from '07 levels... Apr 23, 2008
L.A. Land : Los Angeles Times : California foreclosure "surge": Up 327% from '07 levels. The number of California homes lost to foreclosure in the first quarter surged 327% from year-ago levels -- reaching an average of more than 500 foreclosures per day -- DataQuick said in a report, warning that the widening foreclosure problem could "spread beyond the current categories of dicey mortgages, and into mainstream home loans.". (The Drudge Report)
What your lifetime amounts to in material terms? Apr 22, 2008
And now we are at point of buying houses, setting up home and earning money to spend on all life has to offer. And this is where the foot print starts to get really big. (India Times)
Rental market booms amid mortgage mess Apr 20, 2008
"My theory is that people who would be buying houses are in rentals still. That makes it easier to rent and provides better tenants," says Larry Grant, who owns close-in units in all parts of Portland. Describing his vacancy rate as "zero," Grant adds: "I don't know that there is a hottest place to be renting. It's all hot.". (OregonLive, OR -- Business)
Kenya: The Housing Meltdown Apr 16, 2008
Property experts said that the number of investors buying houses on an arrangement where one investor (normally a land owner) donates land and the other brings in capital for building materials - known as equity financing - is rising. Last year Housing Finance launched a construction finance product to help individuals who already have land build houses and cash in on this category of investors. (allAfrica.com)
Investors of auction-rate securities left in limbo Apr 14, 2008
"I must have 50 or 60 people that were buying houses that were supposed to close in March and their earnest money is at risk of forfeiture because they relied on the liquidity in these things.". While Joffe is still receiving interest payments on his securities, he is unable to retrieve his principal. (International Herald Tribune -- Business)
Retirement jitters on the rise Apr 11, 2008
They are most able to save, and reap the greatest rewards from tax breaks for saving and buying houses. She suggests new efforts to make sure 401(k)-type plans are available to all workers, and that accounts for low-income workers should be subsidized. (Yahoo News -- Top Stories)
Monopoly: Here & Now Review Apr 11, 2008
I'm never confused as to who owns what properties and I have easy access to buying houses and seeing how much money I have left. Properties you have had to mortgage are grayed out so you can keep track of them. (IGN Wireless Games)
Congressional Democrats: The Other Insurgents Apr 11, 2008
Or the recent example of people buying houses that they couldn't afford and then expecting homeowners who are responsible and renters (who were responsible realizing buying wasn't feasible) to help pick up the tab. Please don't use the Iraq deal to explain this. (Human Events Online)
* EDITORIAL: Ma must tame the property market Apr 7, 2008
But a more indepth look at the real estate market shows that recent price rises have been bolstered by buyers of luxury homes, as real estate agents say they have observed a noticeable increase in the number of returning Taiwanese businesspeople buying houses or apartments in major metropolitan areas, especially in Taipei. While experts have different opinions about how strong the boom in the local property market is, with bad economic news such as higher interest rates, lower numbers of... (Taipei Times, Taiwan -- World)
