America's Economic Future – A Discussion By Ted Kavadas
On May 9 Zillow.com released a Press Release titled “First Quarter Home Value Declines Match Worst of Housing Recession; Bottom Unlikely to Appear Before 2012” with the subtitle “Home Values Show Sharpest Quarterly Decline Since 2008; Negative Equity Rises to 28.4% According to Q1 2011 Zillow® Real Estate Market Reports” (Other stories regarding this Press …
Yesterday The Wall Street Journal published an article titled “One in Four Borrowers Is Underwater.” The story contains a variety of statistics with regard to homeowner equity and home ownership issues. It gives a good overview of the situation, and this facet of the residential real estate situation is not pretty. As the headline states, 23% of all …
In the Saturday edition of The Wall Street Journal, there is an op-ed from Martin Feldstein titled “How to Save an ‘Underwater’ Mortgage.” The editorial provides a good summary of the numbers behind “Underwater” mortgages. Also, I think the article is beneficial in that it highlights the problem of mortgage defaults and foreclosures, and how “Underwater” mortgages …
This article caught my interest; it is titled “About half of U.S. mortgages seen underwater by 2011”: http://www.reuters.com/article/companyNewsAndPR/idUSN0526831020090805 Apparently their projections for “underwater” mortgages is based upon their forecast quoted in the article: “Covering 100 U.S. metropolitan areas, Deutsche Bank in June forecast home prices would fall 14 percent through the first quarter of 2011, …