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“Boosted by Ben Bernanke and turbocharged by tight inventories and strong recoveries in the worst hit cities, home prices continue to grow strongly. The widely followed Case-Shiller indexes showed the price of single-family homes across 20 of the most important U.S. cities grew 9.3% in February, its fastest rate since May of 2006 before the collapse of the housing bubble and subsequent financial crisis.”
“Quantitative easing is unlikely to get any airtime on the local press but this is the overarching policy that the Fed has enacted to pull us out of the recession. What many people do not know is that Japan is ahead of the curve when it comes to enacting quantitative easing to deal with a collapsing real estate bubble. The Bank of Japan has made news this year by aggressively expanding their monetary base to spark some sort of inflation in their underlying economy and subsequently weakening the Yen. The Yen has gotten weaker relative to other currencies and the Nikkei is up 30 percent for the year. One of the bigger questions around quantitative easing and Fed policy is the longer term impact on our economy. Housing prices have moved up because of three major reasons; investor demand, low supply, and historically low interest rates. Each one of these reasons can be traced to the Fed either directly or indirectly. Can an aggressive central bank with a low rate environment re-inflate asset prices?”
“Hedge funds including Paulson & Co. Inc. are pushing Congress to abandon plans to liquidate Fannie Mae (FNMA) and Freddie Mac (FMCC) as investors buy up preferred stock that has long been considered worthless, according to people with knowledge of the discussions.”
“The nation’s supply of homes in some stage of foreclosure plummeted 23% in March, declining from 1.5 million housing units a year earlier to 1.1 million distressed properties, CoreLogic said in a new report Tuesday.”
“Any homebuyer on the market right now will tell you the crowd of buyers and multiple offers are creating a challenge.”
“Vacancy rates across the U.S. suggest more Americans are slowly coming back into the housing and rental markets, but at a very controlled and deliberate pace.”
“Mortgage experts recently met with White House officials to discuss housing and mortgage issues, resurfacing the possible idea of establishing a Home Affordable Refinance Program 3.0 program.”
“Washington, DC (April 30, 2013) – First quarter 2013 commercial and multifamily mortgage loan originations were nine percent higher than during the same period last year and 36 percent lower than the fourth quarter of 2012, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.”
“WASHINGTON — Goldman Sachs and Morgan Stanley will begin sending $247 million in payments on Friday to nearly a quarter-million people under a settlement of foreclosure-abuse allegations with regulators, the Federal Reserve said.”
“WASHINGTON (April 29, 2013) – Pending home sales increased in March and remain above year-ago levels, but contract activity in recent months shows only modest movement, according to the National Association of Realtors®.”
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