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CNBC’s David Faber talks with Housing Economist Thomas Lawyer about foreclosures and shadow inventory.
On forelcosure activity picking up:
It is virtual certainty…but the backlog of loans in foreclosure are rising, and foreclosure sales will 100% pickup, we just don’t know when.
On the first-time home buyer tax credits (that NAR is lobbying for increasing and extending):
…if you [...]
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Despite all the efforts of our Government to prop up the housing market, both sales and prices have resumed their downward trends.
From The National Association of Realtors Existing-Home Sales Ease Following Four Monthly Gains
Existing-home sales in August gave back some of their strong gain in July but remain above year-ago levels, according to the National [...]
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Mortgage delinquencies continue to rise at an accelerating pace. Nationwide, 1 in 14 homes with a mortgage are 30 days late or more.
Reuters reports Mortgage Delinquencies Rise Alongside Unemployment
Among U.S. homeowners with mortgages, a record 7.58 percent were at least 30 days late on payments in August, up from 7.32 percent in July, according to [...]
