Analysis Topic: Housing Market Price trends
The analysis published under this topic are as follows.
Friday, March 21, 2008
Credit Crunch Hits Big Mortgage Banks Harder than Smaller Institutions / Housing-Market / Credit Crunch
By: MoneyFacts
The fallout from the credit crunch and predicted falling house prices have forced lenders to consider their positions in the market and reassess their attitude to risk based lending. Denise Harvey, mortgage analyst from moneyfacts.co.uk looks at the position of the UK’s largest lenders in today’s market.Read full article... Read full article...
Wednesday, March 19, 2008
UK Subprime Mortgage Products Drop by 80% as Banks Cut Back on Lending / Housing-Market / Credit Crisis 2008
By: MoneyFacts
It seems that the effects from the credit crunch on the sub prime mortgage market are far from over. Julia Harris, mortgage analyst from moneyfacts.co.uk looks at recent changes to the ever-depleting market. “Over the last week we have seen a host of sub prime lenders including Amber Homeloans, Scarborough Specialist Mortgages and SALT cease new lending of sub prime mortgages. In addition Northern Rock has announced that it will no longer be offering sub prime mortgages funded by Southern Pacific Mortgage Limited.Read full article... Read full article...
Wednesday, March 12, 2008
Calls on the Government and the Mortgage Industry to Help UK Homebuyers / Housing-Market / UK Housing
By: MoneyFacts
On the eve of the launch of the first ever Moneyfacts mortgage report “Tougher times in the UK residential mortgage market”, Andrew Hagger of Moneyfacts.co.uk comments on the following topics:Read full article... Read full article...
Tuesday, March 11, 2008
RICS Data Confirms UK Housing Market Heading for 1990's Style Crash / Housing-Market / UK Housing
By: Nadeem_Walayat
A matter of days after soothing words on the prospects for UK house prices for 2008 were issued by the chief economist of Britain's largest Mortgage Bank (The Halifax), the Royal Institute of
Chartered Surveyors released data today which shows the worst margin between rising and falling house prices since the height of the 1990's property crash.
The RICS data shows that only 4% of surveyors reported a price rise against 57% reporting price falls, thus resulting in a net negative reading of 53%, which seasonally adjusts to a 64% negative reading, the worst since June 1990. Stocks of unsold inventory continue to build up on surveyors books to levels not seen in a decade and up more than 50% over the last 12 months.
Read full article... Read full article...
Monday, March 10, 2008
FSA Campaign to help UK Homeowners Worried about Meeting their Mortgage Repayments / Housing-Market / UK Housing
By: Submissions
New figures published by the Financial Services Authority (FSA) today show that one in five mortgage holders are concerned about meeting their repayments in the next 12 months. When asked how they would meet these costs, a quarter of them said they had no plans.Read full article... Read full article...
Saturday, March 08, 2008
UK House Prices Fall in February- Home Owners have Lost £7,600 in 6 months! / Housing-Market / UK Housing
By: Nadeem_Walayat
Seasonally adjusted house prices fell in February by 0.3% to £196,649 (Halifax:SA), a fall of £600. None seasonally adjusted house prices are now down £7,600 since the peak made in August 2007 which equates to an average drop of £1,266 per month in equity. This is against an interest rate implied cut of 0.5% on interest repayments on an average UK mortgage of £150,000, or just £62.50 per month (Rate cuts inline with Sept 07 forecast). Therefore housing market commentators expecting UK interest rate cuts to support the housing market need to revisit their methodology of calculating the difference between implied impact of rate cuts i.e. £62.50 per month against that of the loss of equity per month of £1,266. I say implied impact of rate cuts as the credit crisis has ensured that the spread between bank mortgage rates and the Bank of England Base Rate has widened, therefore effectively not entirely passing on the rate cut to mortgage customers.Read full article... Read full article...
Friday, March 07, 2008
US Mortgage and Housing Markets at Very Important Crossroads / Housing-Market / US Housing
By: Money_and_Markets
Mike Larson writes: The most amazing thing about the housing and mortgage market crunch is that it has unfolded in the context of a decent employment backdrop and a growing economy.
Home sales collapsed ... inventories ballooned ... prices started dropping ... and mortgage delinquency rates and foreclosures exploded.
Read full article... Read full article...
Wednesday, March 05, 2008
Real Estate and Credit Bubble Deflation: Anatomy of a Murder / Housing-Market / Credit Crisis 2008
By: Steve_Moyer
"And there should be no doubt about who is really responsible for the subprime woes. The investment banks employ some of the country's "best and brightest" -- sharp guys who have studied at some of our finest colleges and universities. Does anyone really believe that a Harvard MBA -- who understands all the fine-points of high-finance -- really thought that ignoring all of the standard criteria for prudent lending, and issuing trillions of dollars in loans to applicants who had no job, no collateral, bad credit, and were unable to come up with a few thousand dollars for a down-payment -- was a great idea?" ~ Mike Whitney Read full article... Read full article...
Sunday, March 02, 2008
UK House Prices Tumble Tracking GDP Growth Rate Lower / Housing-Market / UK Housing
By: Nationwide
- House prices fell by 0.5% in February, the fourth consecutive monthly decline
- The annual rate of house price inflation fell from 4.2% to 2.7%
- UK recession “a remote risk for the UK economy”
| Headlines | February 2008 | January 2008 |
|---|---|---|
| Monthly index * Q1 '93 = 100 | 363.3 |
365.0 |
| Monthly change* | -0.5% |
-0.3% |
| Annual change | 2.7% |
4.2% |
| Average price | £179,358 |
£180,473 |
* seasonally adjusted
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Saturday, March 01, 2008
UK Mortgage Banks Call in the Loans - Housing Market Deflation / Housing-Market / UK Housing
By: Nadeem_Walayat
The British Bankers Association mortgage lending statistics reveal a contraction in the total amount of outstanding mortgage debt amongst its UK member banks, of nearly £6 billion from the peak set in October 2007. Whilst the amount may seem small in terms of the size of total mortgage debt of some $1.2 trillions, it is however opposite to the atmosphere of rising mortgage debt that sustained the housing bull market.Read full article... Read full article...
Thursday, February 28, 2008
Buy to Let Landlords Start to Feel the Mortgage Rate Pinch / Housing-Market / Buy to Let
By: MoneyFacts
Results from the Council of Mortgage Lenders this week have shown an increase in the number of loans taken by buy-to-let landlords in 2007. With first time buyers finding it increasingly difficult to get onto the property ladder, it might be expected that private landlords are having it easy. Alan Harper, Senior Analyst at Moneyfacts.co.uk looks at the availability of buy-to let mortgages:Read full article... Read full article...
Wednesday, February 27, 2008
Bank seizures of US Homes Surge by 90% As Borrowers Hit by Adjustable Rate Mortgage Resets / Housing-Market / Credit Crisis 2008
By: Money_and_Markets
Martin here with two news items I want to bring to your immediate attention.
First and foremost, talk on Wall Street yesterday that the housing market "may be bottoming" is a bunch of hooey.
Read full article... Read full article...
Tuesday, February 26, 2008
UK House Prices Fall for 5 Months in a Row- Housing Market Will Go Negative April 08 / Housing-Market / UK Housing
By: Nadeem_Walayat
Hometracks house price data released on Monday points to house prices in England and Wales falling for 5 straight months in a row as banks tightened lending criteria as the risks of residential housing market bad debt exposure continues to grow. Annual UK house price inflation fell to a near 2 year low of 1.4%. The hometrack data is in line with the Market Oracle forecast as of August 2007 for a fall in average UK house prices of 15% over two years to August 2009.Read full article... Read full article...
Sunday, February 24, 2008
Proposal for a Depreciating US Housing Market Environment / Housing-Market / US Housing
By: Wall_Street_Weather
Being “upside down” is the term for when a borrower owes more on a car than the car is worth. Cars have always been a depreciating asset, but real estate has not been viewed in the same way. That is about to change.Read full article... Read full article...
Friday, February 15, 2008
What the Government Should Do About the US Housing Bust / Housing-Market / US Housing
By: Money_and_Markets
Mike Larson writes: I told you it was coming. And there it was yesterday — summarized perfectly in the second headline of the Wall Street Journal's website: “Worried Bankers Seek to Shift Risk to Uncle Sam.”
The gist of the story?
Read full article... Read full article...
Thursday, February 14, 2008
Sell Your Real Estate Immediately! - Asset Price Deflation Crash! / Housing-Market / US Housing
By: Steve_Moyer
"I always felt very secure and very safe with real estate. Real estate always appreciates." ~ Ivana Trump
Before we begin our next hair-raiser, I notice a lot of people scratching their heads as global stock markets decline in the face of a "strong global economy." What you are seeing is the "pricing in" of approximately $2 trillion of lost homeowner equity in the U.S. (soon to be $3 trillion, then $4 trillion and so on). And it's only a matter of time before that equity squeeze wreaks havoc across the economic board and takes down the stock market and commodities, too. Picture a five year old trying to beat back an elephant with a Wiffle bat -- eventually that will be the metaphor for a declining global economy trying to chase from the living room the growing, immovable force that is asset deflation.
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Tuesday, February 12, 2008
US Housing Indexes Bounce From Key Support, Bottom of the Housing Bust? / Housing-Market / US Housing
By: Donald_W_Dony
After 30 months of plunging lower, several leading indicators of the U.S housing sector have finally found a narrow ledge to support their falling prices. Now the most important question is; can these past support levels be broad enough to hold the frail U.S. housing market indexes or is this just a short-term stop on the way down? Read full article... Read full article...
Friday, February 08, 2008
UK House Prices on Target for 15% Fall Despite Interest Rate Cuts / Housing-Market / UK Housing
By: Nadeem_Walayat
UK House prices fell by £4,000 (2.1%) in January 2008 (Halifax), the average price falling to £191,275, down £9,806 (4.8%) from the August 2007 peak of £201,081. The Market Oracle forecast as of August 2007 is for a fall in average house prices of 15% over two years to August 2009. UK interest rates were cut yesterday by a further 0.25% taking interest rates down by 0.5% from its peak of 5.75% (Forecast December 2006), the cuts to date and further anticipated cuts during 2008 are being mistakenly taken by many market commentators, economists and large mortgage banks such as the Halifax to imply that UK House price inflation will be neutral during 2008. Therefore this article illustrates why house price inflation will start going negative by April 2008. Read full article... Read full article...
Wednesday, February 06, 2008
US Housing Bust Heading for the Perfect Storm / Housing-Market / US Housing
By: Mark_B_Rasmussen
The following data on the Housing Depression in the City of Reno illustrates that the Peak was 30 – 31 months ago. The historical peak to trough real estate value is 46 months. Then again, the recent past has exceeded anything in history by several orders of magnitude.
For washoe county, there were 69 bank flreclosures for the entire year 2006, 100 for december 2007 and 204 for january 2008.
Read full article... Read full article...
Monday, February 04, 2008
Bursting the UK House Price Bubble - BBC1 at 8.30pm Today / Housing-Market / UK Housing
By: BBC
Mortgage lenders have called for tighter rules to stop possible mortgage fraud involving the sale of newly built city-centre flats.Read full article... Read full article...