This was a busy week as the main stream continues to wake up to the reality we have been sharing for years - there is a LOT more downside ahead of the US Housing Market!
http://www.cnbc.com/id/38669791
NY Times why every US taxpayer should be concerned . . .
http://www.upi.com/Business_News/2010/08/11/UPI-NewsTrack-Business/UPI-51841281543407/
UPI buyers are simply waiting – duh!
http://imarketnews.com/node/17794
1 in every 397 US homes CURRENTLY in foreclosure process, and the number seriously delinquent is far higher!
http://www.foxbusiness.com/markets/2010/08/12/bank-repossessions-drive-july-foreclosures/
Fox Foreclosures higher than ever, but not as high as they could be. Banks are managing foreclosures because of over 5 million seriously delinquent loans
http://www.usatoday.com/money/economy/housing/2010-08-11-housing11_cv_N.htm
USA Today well done piece on Fannie/Freddie and the government’s housing policy. Watch for US home ownership rates to fall from a peak of almost 70% to a bottom of around 50-55% within the next decade
http://www.cnbc.com/id/38654640
Reuters record low interest rates do nothing to increase demand. Almost 80% of all loan applications are for refi’s NOT new purchases
http://www.businessinsider.com/after-signs-of-improvement-commercial-real-estate-prices-fall-sharply-in-june-2010-8
commercial prices fall as well. IF you have followed what we share here, and what Kirk Nace has been sharing forever, commercial markets follow residential markets. If you are paying attention you will know that commercial markets are much further from an ultimate bottom (at least 8-10 years) than residential markets (5-7 years.) THINK people THINK!
