Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-56394 Thu, 26 Mar 2015 16:44:57 GMT U.S. Home Prices Are Surging 13 Times Faster Than Wages http://implode-explode.com/viewnews/2015-03-26_USHomePricesAreSurging13TimesFasterThanWages.html In many markets, the housing recovery has "largely been driven over the last two years by buyers who are not as constrained by incomes -- namely the institutional investors coming in and buying up properties as rentals,  and international buyers coming in and buying, often with cash," Daren Blomquist, vice president at RealtyTrac and author of the report, said in an interview...

With the economy improving and home prices climbing, central bankers seem to have achieved at least part of their goal. However, investors have reaped much of the benefits of rising prices, while meaningful wage growth -- and with it the ability of many Americans to buy homes -- has yet to materialize. That's been one reason housing has posted such inconsistent progress over the past two years, even with mortgage rates near historical lows.

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iehi-feed-56375 Wed, 25 Mar 2015 15:19:57 GMT How Cold Was It This Winter? So Cold That New Home Sales Hit A 7 Year Record! | The Wall Street Examiner http://implode-explode.com/viewnews/2015-03-25_HowColdWasItThisWinterSoColdThatNewHomeSalesHitA7YearRecordTheWa.html iehi-feed-56351 Sat, 21 Mar 2015 13:12:30 GMT Paul Tudor Jones on inequality http://implode-explode.com/viewnews/2015-03-21_PaulTudorJonesoninequality.html iehi-feed-56331 Wed, 18 Mar 2015 14:26:53 GMT Fannie, Freddie could need another bailout as risks rise: watchdog http://implode-explode.com/viewnews/2015-03-18_FannieFreddiecouldneedanotherbailoutasrisksrisewatchdog.html U.S. housing finance companies Fannie Mae and Freddie Mac could require more bailouts from U.S. taxpayers as risks are rising due to shrinking reserves, an internal watchdog for the firms' regulator said on Wednesday.

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Fannie Mae's chief executive issued the same warning in February when the firm announced it would make its smallest payment to taxpayers in more than four years.

The possibility of another taxpayer draw raises pressure on the U.S. Congress to overhaul housing finance laws, although a real push on legislation is not expected anytime soon.

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iehi-feed-56274 Wed, 11 Mar 2015 19:11:58 GMT Treasury Urged to Scrutinize Foreign Real Estate Buyers for Money-Laundering Risk http://implode-explode.com/viewnews/2015-03-11_TreasuryUrgedtoScrutinizeForeignRealEstateBuyersforMoneyLaunderi.html In a broad show of support for increased scrutiny of foreign real estate buyers in the United States, 17 nonprofit organizations on Tuesday urged the Treasury Department to require that the real estate industry verify the identities of buyers and screen them for potential money-laundering risk.

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a 2010 report by the United States Senate Permanent Subcommittee on Investigations which showed how corrupt foreign officials and their associates had undermined anti-money-laundering controls, using ill-gotten money to purchase real estate in the United States.

The real estate industry has said it adheres to its own voluntary guidelines in performing background checks on purchasers. In the series, which focused on condominium purchases overlooking Central Park at the Time Warner Center, The Times quoted several people involved in luxury real estate transactions who acknowledged performing few background checks on buyers beyond determining their financial wherewithal to purchase luxury condos worth tens of millions of dollars.

More than half the time, the condos are purchased under the names of limited liability companies that mask the identities of the true owners. Current law in a number of states, as well as offshore jurisdictions, does not require disclosure of the identities of the beneficial owners of these entities.

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iehi-feed-56215 Wed, 04 Mar 2015 17:43:52 GMT Mortgage Lenders Cause Another Homeowner Death http://implode-explode.com/viewnews/2015-03-04_MortgageLendersCauseAnotherHomeownerDeath.html iehi-feed-56204 Mon, 02 Mar 2015 19:00:32 GMT MFI-Miami Calls On The FDIC To Fast Track Investigations Of Sterling National Bank http://implode-explode.com/viewnews/2015-03-02_MFIMiamiCallsOnTheFDICToFastTrackInvestigationsOfSterlingNationa.html iehi-feed-56190 Sun, 01 Mar 2015 15:26:43 GMT BREAKING BAD (DEBT) -- EPISODE TWO (Consumer Debt and Subprime Rises) http://implode-explode.com/viewnews/2015-03-01_BREAKINGBADDEBTEPISODETWOConsumerDebtandSubprimeRises.html iehi-feed-56186 Fri, 27 Feb 2015 20:36:14 GMT 14,600 blighted properties demolished in Ohio under program http://implode-explode.com/viewnews/2015-02-27_14600blightedpropertiesdemolishedinOhiounderprogram.html iehi-feed-56180 Fri, 27 Feb 2015 16:18:47 GMT China's Real Estate Bust Worse Than It Seems http://implode-explode.com/viewnews/2015-02-27_ChinasRealEstateBustWorseThanItSeems.html A record decline in new-home prices in January has, as my Bloomberg News colleagues reported this week, prompted Chinese officials to contemplate additional stimulus measures, including reducing the required down payments on second homes and eliminating sales tax after only two years of ownership instead of five.

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"This is a supply-side correction in property," Yao writes in a new report. "While housing sales will likely improve this year, construction and all the industrial activity that depends on it will not. Therefore an upturn in housing sales will not deliver as much of a boost to growth."

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iehi-feed-56169 Thu, 26 Feb 2015 02:26:09 GMT Morgan Stanley to pay $2.6 billion to settle mortgage-bond claims http://implode-explode.com/viewnews/2015-02-25_MorganStanleytopay26billiontosettlemortgagebondclaims.html iehi-feed-56160 Wed, 25 Feb 2015 15:54:07 GMT Whatever Became of Economists and the American economy--Paul Craig Roberts http://implode-explode.com/viewnews/2015-02-25_WhateverBecameofEconomistsandtheAmericaneconomyPaulCraigRoberts.html iehi-feed-56150 Tue, 24 Feb 2015 17:23:42 GMT Quicken Loans Chairman "Dapper Dan" Gilbert's Voyeurism Fetish In Detroit http://implode-explode.com/viewnews/2015-02-24_QuickenLoansChairmanDapperDanGilbertsVoyeurismFetishInDetroit.html iehi-feed-56147 Mon, 23 Feb 2015 20:36:44 GMT Sales of U.S. existing homes decrease to nine-month low http://implode-explode.com/viewnews/2015-02-23_SalesofUSexistinghomesdecreasetoninemonthlow.html Purchases slowed 4.9 percent to a 4.82 million annualized rate, the least since April, after a 5.07 million pace that was higher than previously estimated, figures from the National Association of Realtors showed Monday in Washington. The median forecast of 74 economists in a Bloomberg survey called for a fall to 4.95 million.

The number of houses on the market dropped in January for a second straight month compared with last year and price increases were broad-based, making it difficult for first-time and younger buyers to get into the market. Gains in employment and historically low mortgage rates will probably sustain demand, while rising household formation and a shortage in rental supply should also provide a boost this year over last.

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iehi-feed-56144 Mon, 23 Feb 2015 17:25:44 GMT U.S. Banks Hoard $2 Trillion of Ultra-Safe Bonds, Suggesting Weak Recovery http://implode-explode.com/viewnews/2015-02-23_USBanksHoard2TrillionofUltraSafeBondsSuggestingWeakRecovery.html iehi-feed-56143 Mon, 23 Feb 2015 17:04:15 GMT 1 in 3 Americans on verge of financial ruin http://implode-explode.com/viewnews/2015-02-23_1in3Americansonvergeoffinancialruin.html iehi-feed-56139 Mon, 23 Feb 2015 15:56:19 GMT The People Want Tiny Houses. Zoning Boards, Not So Much http://implode-explode.com/viewnews/2015-02-23_ThePeopleWantTinyHousesZoningBoardsNotSoMuch.html iehi-feed-56125 Fri, 20 Feb 2015 18:55:58 GMT As Goes California's Housing Market, So Will Go the Nation's | Mandelman Matters http://implode-explode.com/viewnews/2015-02-20_AsGoesCaliforniasHousingMarketSoWillGotheNationsMandelmanMatters.html iehi-feed-56118 Fri, 20 Feb 2015 15:44:38 GMT Is Attorney John M. Schwarz Trying To Flee New York W/ Client Cash? http://implode-explode.com/viewnews/2015-02-20_IsAttorneyJohnMSchwarzTryingToFleeNewYorkWClientCash.html iehi-feed-56107 Thu, 19 Feb 2015 16:43:49 GMT The Foreclosure Crisis is Behind Us? Where?  Who says? | Mandelman Matters http://implode-explode.com/viewnews/2015-02-19_TheForeclosureCrisisisBehindUsWhereWhosaysMandelmanMatters.html