Thursday, August 26, 2010

New-home sales are nearly nonexistent in many U.S. cities

Statistics on new-home sales in the U.S. are as troublesome as those for existing homes, according to The Economist. Last month, 25,000 new homes were sold, a 90% drop from nearly 120,000 in July 2005. "When one takes into account that sales aren't
spread evenly around the country -- most are taking place in tighter markets xperiencing job growth -- it becomes clear that in some metropolitan areas housing markets have all but shut down," the magazine notes.
The Economist (click on headig for a link)

Wednesday, August 25, 2010

Fewer recently modified mortgages are falling into foreclosure

LIES, Damn Lies and Statistics

Recent mortgage modifications in the U.S. are more successful at keeping borrowers from losing their homes in foreclosure than those completed earlier in the housing crisis, according to a report by the State Foreclosure Prevention Working Group. Homeowners who obtained a mortgage modification in 2009 were nearly 50% less likely to fall 60 days behind on their payments compared with those whose mortgages were modified in 2008, according to the report. Google

Exactly opposite of almost everything I have read. Curious.