Sacramento Office Vacancy Rate Surges Over 20%
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1st Time Homebuyer Tax Credit And Fed Mortgage Security Buying Set To End
Reading Time: 2 minutesIn 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…
House Of Pain At Lennar
Reading Time: 1 minuteHomebuilder Lennar (LEN) reported 2nd quarter earnings today and they were not pretty (LEN Earnings Release). I put together a chart of Lennar’s new homes delivered and backlog going back 5 years which pretty much tells the story: LEN New Homes…
National Association of Homebuilders Confidence Index Registers At 9
Reading Time: 3 minutesToday’s report shows that we are in a crisis situation. – NAHB Chairman Sandy Dunn When I heard Diana Olick report this number on CNBC a few minutes ago I had to chuckle. You have to realize that a number…
Reverse Wealth Effect Saps Consumer Spending
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Sacramento Area Default Notices And Foreclosures Surge In 3rd Quarter
Reading Time: 1 minuteThe data tables in this front page Sacramento Bee article from yesterday are incredible. Default notices and foreclosures in the 8 county Sacramento area are absolutely surging: up 158% and 516%, respectively, from the year ago period. In fact, default…