The Wall Street Journal ran a fascinating front page story last Thursday on the implosion of Taylor, Bean & Whitaker Mortgage Corp, the nation’s 12th largest mortgage lender: “With a Quick Rise, Hard Fall, Home Lender Marked an Era”, The…
We’re looking to get these properties sold as soon as possible. – Eric Lamoureux, CA Department of General Services Spokesmen The state wants to sell the buildings for the cash and then lease them back from the new owners. It…
NOTE: Every week I write a Client Note for my clients. For a limited time, I am allowing non-clients to sign up and receive the Client Note. You can sign up at the top right hand corner of the website. …
The Wall Street Journal wrote an editorial on the dangerous growth at Ginnie Mae on August 11th: “The Next Fannie Mae”. It makes the same points I made the other day in “Ginnie Mae Accounts for 20% of New Mortgages In…
It’s very analagous to what happened with the residential market. Money was cheap, growth was rapid, and we built a lot more product than we needed. – Mark Friedman, a prominent Sacramento commercial developer Good article on the coming commercial…
Click here for larger graphic The overall volume of home sales in the 8-county Sacramento region dropped about 16% from the year ago period while prices were firm month to month. The median sales prices of a home in Sacramento…
During the third quarter, the overall housing market continued its road back to recovery as more confident homebuyers took advantage of increased affordability. While high unemployment and foreclosures will continue to present challenges, consumer sentiment has significantly improved as homebuyers…
Another fascinating article from two Thursdays ago in The Wall Street Journal about how Ginnie Mae and the Federal Housing Administration are playing an increasingly large role in the mortgage market (“Banks Load Up on Mortgages, in New Way: This…
In my previous post, I wrote about how the government is essentially propping up the housing market with all its programs and stimulus. Well, two of those programs are set to expire shortly. The $8,000 1st time homebuyer tax credit…
At least for the next two years, and possibly longer, it is not possible that the government would say: ‘The U.S. mortgage market no longer needs our support.’ Were they to say that, the mortgage market and the housing market…