Keyword: Economy
Banks’ brilliant idea to give cash incentives to short sale
The housing crash Now that some of the causes and effects of the housing crash are becoming universally agreed upon and banks are ordered to pay billions in civil lawsuits and settlements for illegal foreclosures, the big banks are struggling to regain their composure after overlooking simple fixes like not continuing robo-signing documents illegally without human review before kicking people ...
Mortgage settlement deal remains stalled, deadline passes
The deadline has passed – no deal At the end of business today, the deadline came and went for the $25 billion civil settlement between the states Attorneys General and major lenders as punishment for bank misdeeds leading up to the housing crash. The original deadline to agree on the settlement terms was originally last Friday, but was pushed back ...
Unions driving millenials, educated people out of state
The concept of Unions Take a look at how states who’ve gladly embraced unions to the point of forcing either membership and/or dues on employees. See how that’s worked for ‘em the last couple generations. When the national economy is firmly based on the foundation of free enterprise capitalism, the forced elimination of labor’s free choices will always come back ...
New 2012 AGBeat media kit available now
- We know you want the most sophisticated audience, and here it is!
Home prices drop in November lower than expected
Home prices dip November home prices drop lower than expectations, falling 1.3 percent in November, according to the latest S&P/Case-Shiller 20-city report. Of the 20 cities studied, home prices dropped in 19, with the total dip representing a 3.7 percent price drop from November 2010, but a shocking 32.8 percent drop since prices peaked in 2006. The health of this ...
Stalled $25B civil settlement with lenders may conclude this week
Hardworking Americans left holding the bag During President Obama’s State of the Union address, he noted that leading up to the housing collapse in 2008, regulators looked the other way. “It was wrong. It was irresponsible,” and ultimately, “innocent, hardworking Americans were left holding the bag.” On the same day, the administration announced a new task force aimed at mortgage ...
Pending sales of existing homes drop 3.5 percent
Drop in number of contracts signed Pending sales of existing homes dropped in December, according to the National Association of Realtors (NAR) who released a report today noting contracts signed (pending sales) in December dropped 3.5 percent for the month after a massive increase just one month prior. Pending sales rose 5.6 percent over December 2010. Lawrence Yun, NAR chief ...
Zillow says Obama picks up their idea on housing
Obama’s State of the Union address During President Obama’s State of the Union address tonight, the President exerted the most efforts on jobs and the economy and while not much was said about housing, he did state that he was sending a plan to Congress to help responsible homeowners to find relief without having to wait for the market to ...
U.S. housing is affordable compared to other nations
Australia, UK, America According to a new study by Demographia, the least affordable housing markets in the world are in Hong Kong, Australia, New Zealand, UK, Hong Kong, and Vancouver, with America proving to be comparatively affordable, in fact, the most affordable English speaking nation. Overall, the median home price in America was three times pre-tax household income in 2011 ...
Fannie, Freddie principle reductions would cost taxpayers another $100B
The FHFA stands firm The Federal Housing Finance Agency (FHFA), the conservator of Fannie Mae and Freddie Mac told lawmakers in a letter today that forcing the two to write down the principle on underwater home loans would require more than $100 billion in new taxpayer funds. With one in five homes in America underwater, negative equity now totals over ...
Why mortgage lending is so tight in 2012
Tight lending in 2012 The housing market continues to struggle as Realtors report one in three contracts now fail, up nearly 10 percent from the year prior and now the top challenge of the housing industry. Failures are due to declined mortgage applications or failed underwriting as appraised values are coming in below the negotiated price, according to the National ...
Top 10 zip codes hardest hit by foreclosures
Worst hit neighborhoods According to a new report by CNN Money, using RealtyTrac data, it is clear that some areas were harder hit by foreclosures in 2011 than others, with the brunt of the down economy felt on the West Coast, with literally zero zip codes in the Northeast appearing in the top 100 hardest hit zip codes. Las Vegas ...
Greed vs greed, what is your brand?
Greed vs. greed For the umpteenth millionth time, I read someone scolding business owners and investors in general about their innate greed. Seems the only reason they started their business or invested their capital was to make money — wait for it — for themselves. The bastards. What they fail to understand is that all greed isn’t equal. What these ...
Benn Rosales
Conal Campbell
Elijah May
Lani Rosales
Tara Steele
Marti Trewe
Charlene Jimenez
