Articles

New York real estate brokers are still saying that housing prices will never fall more than 5% in Manhattan. They are full of shit.

States and local governments are asking for a piece of the $700 billion Troubled Asset Relief Program funds as revenue drops. This will have consequences for the Muni market.

Fannie Mae, Freddie Mac, and Citi have announced plans to cut mortgage payments or princpal on some loans and extend payment terms on others. Cutting principal, where do I sign up.

The FDIC, through Indymac Federal Bank is testing a program to adjust mortgages to help people stay in their homes. The idea is to prevent foreclosures, which are expensive to banks, as well as keep people in their homes.

Here's the central problem in the credit crunch that has gripped the world. Housing prices keep falling and the news doesn't get any better. The WSJ just published an article that says that 1 in 6 homeowners owe more on their mortgage than their home is worth.

I like Joe Biden. I think he is real, but I couldn't believe what he said in the first half of yesterday's debate.

As part of the Housing and Economic Recovery Act of 2008, the IRS authorizes a deduction of up to $7,500 for qualified first-time homebuyers. What does that mean? Read on for an explanation.

Many different economic models are being used to try and predict the bottom of the housing market. Here's a look at a few of them.

It's not just subprime mortgages which are in trouble. Alt A mortgages brought down Indymac and a bigger wave of Prime mortgage defaults threatens to wash over us soon.

Home prices continue to fall. The media says there is a silver lining because prices aren't falling as fast. I think they still have plenty to go.

Mortgage rates spiked nearly a quarter of a percentage point this week on inflation fears, trouble with Fannie Mae and Freddie Mac, and overall bank weakness.

Freddie Mac may slow the purchase of mortgages from banks, reducing the amount of credit available to borrowers and driving up mortgage rates.

Housing construction continues to drop as an oversupply of houses keeps the builders on the sidelines.

If you've been renting, waiting for the housing market to collapse, the last week is good news for you. Houses are about to get a whole lot more affordable.