I think it is time that we revisit the West Side of Los Angeles. This area receives probably the most coverage in real estate circles even though 529,000 of the 10 million people in Los Angeles County live there. Glamour attracts attention. But within the Westside, there are many overpriced homes and areas. It is [...]
Party like its 1999. The U.S. homeownership rate is now down to levels last seen in 1999. In essence, every effort to push homeownership rates upwards with absurd Wall Street gimmicks (the entire toxic mortgage disaster) but also the government backed implosions of Fannie Mae and Freddie Mac have basically been one giant waste of [...]<...Read More
Asset bubbles and economies built on inflated prices are nothing new. We have many lessons during the Great Depression that reflect boom and bust cycles. As policy makers try to look at historical references for guidance many are now turning their analysis to the Japanese bubble economy. Japan serves as a good reference since ther...Read More
I’m surprised how quickly people are ready to believe housing industry math even though this is the same industry that championed toxic loans and saw no future problems by giving loans to anyone with a pulse. So keep that in mind as new data is being held up like a trophy as if things have [...]
Last week HUD came out with laser focused ways of addressing its impending insolvency because of defaulting FHA insured loans. Now some of you were under the impression that something was already done to tighten lending standards given the precarious situation the housing bubble brought to our economy. Yet that is not the case [...]
