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“Government, the mortgage industry and forces of nature all shook the housing market in 2011. They had both an immediate impact and slow-burning effects, setting the stage for a bumpy 2012 with more foreclosures, political battles and local market risks.”
‚ÄúAs year five of the housing crisis begins, the Obama administration’s programs to help struggling homeowners haven’t solved the foreclosure problem, but they are keeping a growing number of people in their homes.‚Äù
“The U.S. government is doing its best to convince the American public that there’s an economic recovery underway, but is that really true? The economy is being artificially propped up by $1,500 billion in annual debt, and the Federal Reserve has printed trillions of dollars to keep banks afloat.”
“Analysts expect the U.S. rental market will heat up in 2012, as a slew of 20-somethings head up their first households and consumers delay homebuying until they feel more secure about their jobs, based on a recent apartment report from Irvine-based John Burns Real Estate Consulting.”
‚ÄúI’m not sure if it’s that usual New Year’s Eve optimism evoked by the generic philosophy that the grass is always greener on the other side of the calendar year, or perhaps the emotional need to dig ourselves out of what has surely been one of the more lugubrious periods in the U.S. economy, but there is some hope in housing.‚Äù
‚ÄúRecent headlines about the national housing market certainly seem to be in conflict with one trumpeting “Good Signs for the Real Estate Market” and another “Home Prices Down in Most Cities.” Or how about “New Home Construction Bounces Back – Soars 9.3 percent in November” versus “Home Sales Remain Weak.”
“Average fixed mortgage rates in the U.S. over the past week finished the year near all-time lows, with the 30-year home loan at 3.95%.”
“The number of Americans signing contracts to buy homes is on the rise, but the National Association of Realtors says the contract data is becoming less reliable because a growing number of buyers are canceling at the last minute.”
“WASHINGTON (MarketWatch) — Question: I am totally disgusted. I wouldn’t have been surprised at not receiving my deposit back if I rented a house through Craigslist. But I rented it through an Irvine, Calif., real-estate agent and his company has done absolutely nothing to help me get my deposit back, even though its agent represented the landlord.”
“The long-suffering job market is ending the year better off than it began.
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