Archive for the 'mortgages' Category

Shadow inventory Armageddon – Foreclosure timeline up to an average of 599 days with 798,000 mortgages having no payment made in over 1 year and no foreclosure process initiated. Shadow inventory grows to over 6,540,000 properties.


If you build it, they won’t come – Why are new home sales not getting the summer bounce with 30 year mortgage rates at historical lows? Prop 13 and the housing lottery in California.


Where the income is lacking – Calabasas median home price falls from $1.39 million to $877,000 in one year. A city where nearly 80 percent own yet incomes are unable to support bubble prices.


Southern California would be the second most populated state in America and half of all home sales in July were distressed properties. Worst July in four years and every county is down year-over-year in price.


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