Comments on: Why Wall Street is Missing the U.S. Housing Recovery

By: How the Woes of the Wealthy Can Guide You to Global Investing Profits

How the Woes of the Wealthy Can Guide You to Global Investing Profits — Thu, 02 Jul 2009 10:02:36 +0000

[...] Money Morning Real Estate Market Analysis (Part II of II): Why Wall Street is Missing the U.S. Housing Recovery. [...]

By: "Hyper-local" Stats Show Housing Market Has Bottomed

"Hyper-local" Stats Show Housing Market Has Bottomed — Mon, 01 Jun 2009 20:31:41 +0000

[...] Money Morning: Why Wall Street is Missing the U.S. Housing Recovery [...]

By: Better Yeti

Better Yeti — Thu, 07 May 2009 17:55:27 +0000

Oh. My. God. This author is a total idiot. He has no idea about foreclosure rates, NOD escalations, shadow inventory (properties in default that banks haven't bothered to put back on the market), and lending standards. Just stunning. Complete and total moron.

[Of course, whenever somebody flies a "III" after their name, everything that comes after is highly suspect...]

By: Is the Stock Market Rally For Real?

Is the Stock Market Rally For Real? — Wed, 06 May 2009 10:01:48 +0000

[...] crisis that's grown out of that nightmare of bad debt and parsimonious lending. There's a belief that the U.S. housing crisis has reached bottom. Even Money Morning's Hutchinson says that the rate of decline in the U.S. economy has almost [...]

By: Three Ways to Profit As Taiwan Rebounds From the Financial Crisis

Three Ways to Profit As Taiwan Rebounds From the Financial Crisis — Tue, 05 May 2009 10:01:26 +0000

[...] a few well-run countries avoided the fallout from the U.S. housing debacle – as well as the fiscal-and-monetary-stimulus mess that followed. And although they have been badly [...]

By: Cynic

Cynic — Wed, 29 Apr 2009 15:19:04 +0000

Not sure whether this is a paid advertisement….or whether the author William Patalon III needed to make a deadline to fill his column. What a crock! Print this aritcle Mr. Patalon the III and send it every year to all your readers….what about fifty or so?? ….and then send one time stamped and sealed to the "amazing Kreskin Andrew Waite" What do you use for research besides your own opinion…an Ojigii Board??? Sounds like a mirror of realtors or that Baffoon Bill Watkins at UCSB that spoke of the bullet proof Santa Barbara mkt for ten years untill someone pulled the equity loan on his home. Contrary to Waite who finds water with a divining stick…the high end markets are just starting to crack. The rich are looking at their trust funds ……like the Getty ….and are saying…..yikes…..maybe its not worth what that moron Waite and Watkins have been saying all along…..honey lets sell this dump. Well over fifty percent of the homes selling are bank owned…….only 5% are listed on the MLS …..huh???
How could that be??? The banks are not talking about the trillion dollars of ARMs that are re-setting just this month…..I repeat……just this APRIL……..!!!! With the job market plummeting……Arms resetting……banks holding back all the inventory of taken back junk…..and morons like Waite and NBR Watkins…..and all the other softheaded reporters like Patolon the III…..if you buy now into this "BOTTOM"……A FOOL AND HIS MONEY ARE ALWAYS……..SOON PARTED.

IDIOTS.

By: Latest Housing and Consumer Confidence Numbers May Point to a Sustained Economic Recovery

Tue, 28 Apr 2009 20:14:55 +0000

[...] Money Morning: Why Wall Street is Missing the U.S. Housing Recovery [...]

By: Earnings Reports Will Play a Key Role This Week

Earnings Reports Will Play a Key Role This Week — Mon, 20 Apr 2009 08:32:09 +0000

[...] Several economic reports will be worth a look, too. Home sales data for March highlight the economic calendar and analysts are eager to see whether February’s enhanced activity was the start of a trend or just an anomaly. Interest rates are down; home prices are low, first-time buyers have tax incentives to buy. Could the February and March numbers represent the start (continuation) of a housing rebound? It’s going to happen at some point, and don’t forget that housing expert Andrew Waite, the publisher of the Personal Real Estate Investor magazine, recently told Money Morning that the recovery is already under way. [...]

By: Chris

Chris — Wed, 15 Apr 2009 12:56:36 +0000

I also think the average home price should be no more than 2.5X the average income for the area…not 4.5 to 6.5X. Banks shouldnt be allowed to issue interest rates over 5% and in doing that people would have a smaller mortgage payment. Also at least 5% – 10% down, no exceptions unless you get help from being a first time buyer. The 20% is just unrealistic in todays economy. This is a mess and either way its going to hurt people who bought houses for short term investments or borrowed to much against their house and on the flip side it will hurt people wanting to buy a HOME not an investment in the future if prices dont drop.

By: Chris

Chris — Wed, 15 Apr 2009 12:47:47 +0000

I think housing should continue to drop to the pre-bubble prices. I own a house and have for 20 years. My daughter is a local teacher and is having a very hard time finding a decent house in a decent neighborhood. She makes $32k a year and the average home prices are floating around $140k. These are for decent homes, not good. The nice homes are going for $300-800k and the run-down homes in bad areas are going for $25-40k. She wants to buy a home to live in, not turn around and sell in 2 years. I think its ridiculous that we have so many people saying we need to save housing but in reality we need to let it go back to normal. My house has gone from $140k in 1997 to over $400k today (appraised value). It was nice to think about but I never once thought about selling or BORROWING against my house. Housing needs to drop and drop big.

By: George H. Cullins

George H. Cullins — Tue, 14 Apr 2009 21:00:02 +0000

No matter what wall street thinks or does is immaterial as long as you have the power and thinking of the Barney Franks in the House of Representatives

By: Kelly

Kelly — Tue, 14 Apr 2009 13:31:38 +0000

"According to Waite, the housing market bottomed last year. But that bottoming takes place in stages. Housing values continue to decline. But values can’t bottom, solidify, and then head north until sales volumes increase, Waite says."

Whoever thinks this makes sense deserves to lose money in RE.

By: ed brown

ed brown — Mon, 13 Apr 2009 02:33:04 +0000

Last year there were 2.1 Million fore closures. The housing market will not recover until these units are sold. The current tax credit does not help since 70% of tax filers own their own home – $81m. 35M do not pay taxes and another 45M pay little in the way of taxes. Their were approximately 116M tax filers in 2007. So how does Waite address this issue??

By: Gary Wardell

Gary Wardell — Mon, 13 Apr 2009 01:55:22 +0000

When my parents passed away I was left with an oversize lot in Edina Minnesota. Edina is considered one of the very best. So far I do not have any buyers.

I do not see any bottom.

By: Jeff Lane

Jeff Lane — Sun, 12 Apr 2009 21:46:07 +0000

I have been a CA. contractor for 40 years. I know everything there is to know about housing. I know the market in CA,Nev,Az. I also understand the psychology of this market. 2 words..you're wrong. And you will be wrong in 2010, as well.

By: L. Malik

L. Malik — Sun, 12 Apr 2009 16:36:41 +0000

Please fill in the following quote from midway into this article. It surely has something missing between "analyzed" and "make" besides just the space. "Housing, by comparison, is analyzed make "illogical" generalizations about the market that fail to reflect reality." Thanks.

By: Why Simply Changing "Mark to Market" Rules Won't Lead to a Happy Ending

Why Simply Changing "Mark to Market" Rules Won't Lead to a Happy Ending — Fri, 10 Apr 2009 08:43:54 +0000

[...] argue that the comparison is invalid because GM's bonds are liquid while mortgage-backed securities are not. However, if sellers of GM bonds were holding out for 70 or 80 cents on the dollar, those bonds [...]

By: patrick schuppe

patrick schuppe — Thu, 09 Apr 2009 16:04:47 +0000

i hope this morage miss get settle , gets getting reducious we investors buying the bad mortages off the books of the banks, but i hope we can at least make some money out of this mease.

By: theaccusersgift

theaccusersgift — Thu, 09 Apr 2009 09:27:05 +0000

Around here foreclosures are dropping about 10% PER MONTH, giving real mortgage rates of over 100% PER YEAR.

Also, around here pre-foreclosures are souring. No bank will foreclose because no foreclosures are selling AT ALL.

For every 3 foreclosures, there may be 50 pre-foreclosures.

By: Paul Barrow

Paul Barrow — Thu, 09 Apr 2009 00:57:56 +0000

Thanks for sharing this information. As a professional investor, I could not agree more. I am witnessing an amazing recovery, but it is by price range. High-end properties are still suffering, but sales under the conforming loan limits are strong and investment properties are seeing immense upward pricing pressure. the recover in Denver real estate is well under way.

Paul Barrow
Denver, CO
http://theprivatemarket.com

By: Andrew Waite

Andrew Waite — Wed, 08 Apr 2009 20:53:50 +0000

Please do not trust my pronouncements rather go to our website and Market Trends tab and follow the links to the actual MLS inventory data.

I do not disagree, the Northeast residential markets were last to this downturn so they are later in the cycle.

Also granularity is both horizontal (geography) and vertical (price points). Add the fact the investors are flocking back to the market because affordability has made positive cash flow a renewed reality.

The recession has not slowed population growth, relocation or immigration, legal and illegal as well domestic relocaton.

Housing stock is an asset that an intelligent buyer, owner occupier or investor needs to analyze with the same rigor an securities investor should employ and it becomes relative obvious where one should place their long term investments.

God Bless and great investing. Andrew Waite

By: Jens Larson

Jens Larson — Wed, 08 Apr 2009 16:22:22 +0000

Foreclosures are up (as much as 45% of all existing home sales in the U.S. are foreclosures, REO and short sales) and we're beginning the cyclical upturn in housing, so we should see month-over-month gains through the summer. But calling this the bottom is ridiculous. Year-over-year sales and prices are still down dramatically, job losses are accelerating, and lending criteria are rising across the board. It doesn't matter how low mortgage rates go if people cannot get approved. Moreover, migration patterns are shifting rapidly and wages are falling. At best one can say, "The losses are slower than they once were." But they're still losses, and anyone who buys anything other than an REO property is probably going to to see losses for at least the next 9 to 12 months, if not longer. Moreover, emphasizing month-over-month figures is a blatant disservice to your readers. That's the same kind of numerical dishonesty that pervades the NAR monthly reports. While housing markets may be granular, the macroeconomic conditions are affecting homes almost everywhere. Calling the markets "granular" doesn't make them immune to recession/depression.

By: Wayne R. Jahns

Wayne R. Jahns — Wed, 08 Apr 2009 14:31:50 +0000

The housing mkt is not showing signs of a bottom in Short Hills NJ [ which most people would agree is a "good neighborhood".