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19 Jun 2011 23:47


Biz: Home foreclosure backlogs laughably long in some states

  • 62 year backlog for foreclosures in New York state (no really) source
  • » And they’re far from alone: Nearby New Jersey has a backlog stretching back a solid 49 years, and noted foreclosure mecca Florida has a decade-long backlog. A big reason? The courts are overworked on this issue and can only handle so many cases. But even in the 27 states where courts aren’t involved, the wait is often still significant — at least a year in many cases. Beyond the courts, the entire system is overworked — and lenders seem to be in no rush to add any more repossessed houses to their balance sheet.

31 May 2011 10:46


Biz: Key economic indicator: Homes see double-dip in prices (uh-oh)

  • bad The Standard & Poor’s/Case-Shiller home pricing index, a key economic indicator which compares home prices in the top 20 U.S. markets, fell heavily in March compared to a year earlier.
  • worse The numbers confirm a double-dip in home prices (below April 2009’s previous nadir), which could spell bad news. Does a double-dip in home prices mean a double-dip for the overall economy? source

14 Oct 2010 10:50


Biz: Cheerful foreclosure numbers: Read at your own depressing risk

  • 930,437 number of properties hit with a foreclosure filing in the third quarter of this year alone
  • 102,134 number of foreclosed homes in September, which, by the way, is an all-time record source

07 Oct 2010 11:11


Biz: Freddie Mac: Mortgage rates lower than they’ve ever been

  • 4.27% mortgage rates; that’s the lowest ever source

21 Sep 2010 10:09


Biz: Housing starts get boost in August after some crappy months

  • 10.5% boost in housing starts in August source
  • » Why this is really good: Because housing starts just went through a couple of very crappy months. In the aftermath of the end of the homebuyer tax credit, housing starts plunged in May and June at record rates. While early, this suggests that housing is starting to recover on its own. That said, both single-family and multifamily housing starts are near 50-year lows.

16 Sep 2010 10:53


Biz: A dubious record, hit again: Home repossessions up yet again

  • 25% increase in repossessions of homes by banks source

24 Aug 2010 10:18


Biz: Existing home sales, meet crapper: Sales hit lowest level in 15 years

  • 27.2% decline in existing home sales in July source

22 Aug 2010 10:55


Offbeat: Tyler Perry: Creator of bad movies, destroyer of worse homes

This mega-mansion outside Atlanta, which reportedly has awful architecture, languished on the market for 15 years. Tyler Perry bought it. He plans to destroy it. source

15 Jul 2010 11:10


Biz: Foreclosure filing numbers a major fail, but have a silver lining

  • 1.28% of homes were subject to foreclosure findings in the first half of 2010
  • 8% increase in foreclosure filings in the first half of 2010 from a year ago
  • 5% decrease in foreclosure filings from the last half of 2009 source

01 Jul 2010 11:00


Biz: Previously-owned home sales follow new home sales to the crapper

  • 23% rise in pending home sales between January and April
  • 30% decline in pending home sales IN MAY ALONE source