Read a little. Learn a lot. • Tightly-written news, views and stuff • Follow us on TwitterBe a Facebook FanTumble us!

19 Jun 2011 23:47

tags

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

tags

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

28 Dec 2010 11:09

tags

Biz: Ready to be depressed? Read this assessment of housing numbers

  • The double-dip is almost here. There is no good news in October’s report. Home prices across the country continue to fall.
  • Standard & Poor Index Committee Chairman David Blitzer • Expressing fear that recently-released housing numbers are a harbinger of a double-dip. The numbers, which showed a 1.3 percent decline in home prices in 20 key cities, were apparently much more dire than many analysts were expecting. “It was a bit of a surprise,” said IHS Global Research’s Pat Newport. “I wasn’t expecting it to lag so badly in all 20 cities.” source