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3 Short Real Estate News Items of Interest.

1. Good news for US Housing.  For those of you still searching for a BOTTOM in the real estate market, we hit it in January 2009.  A double bottom, in fact.  Take a look at the CHART.
2. China raised its minimum down payment requirement to 40 percent, in an effort to slow down the overheated housing market in Hong Kong.  Conversely, in the US, we still offer financing with NO Money Down, when the tax rebate is combined with FHA or VA financing.  Quite startling in light of the lessons we learned from subprime loans.
3. Uncle Sam Added 5 Percent to Home Prices.  Government interventions in the housing market have inflated home prices at least 5 percent higher than they would have been.  Artifically low interest rates, $8000 tax credits, push for loan modifications and efforts to stall foreclosures may have created a false bottom.  Since the props won’t last forever, the risk of price decline in the future is significant. 

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Tags: house price predictions, housing news, Local Neighborhood News and Trends

This entry was posted on Monday, October 26th, 2009 at 2:04 pm and is filed under Financial Crisis, Fun Stuff, Home Statistics, Latest News, Mortages and Loans, Real Estate, Selling Your Home. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.