Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-55497 Fri, 21 Nov 2014 03:09:57 GMT $1 million-plus home sales up 16% (HOORAY!) http://implode-explode.com/viewnews/2014-11-20_1millionplushomesalesup16HOORAY.html iehi-feed-55479 Wed, 19 Nov 2014 17:23:44 GMT U.S. housing starts fall 2.8% in October http://implode-explode.com/viewnews/2014-11-19_UShousingstartsfall28inOctober.html iehi-feed-55457 Tue, 18 Nov 2014 00:33:31 GMT FHA is back "in the black" -- but not out of the woods (AH, QUAINT GUB'MINT ACCOUNTING!) http://implode-explode.com/viewnews/2014-11-17_FHAisbackintheblackbutnotoutofthewoodsAHQUAINTGUBMINTACCOUNTING.html By law, the FHA must maintain a cash cushion that equals 2 percent of all the loans backed by the agency. The $4.8 billion cushion announced Monday equals just 0.41 percent, the agency said in its report to Congress, citing figures from its most recent audit.

...

One of the key reasons its reserves remain so low is because the agency is losing money on its reverse-mortgage program, which allows seniors to withdraw equity from their homes. Another reason is that the FHA is not generating as much business as the auditors expected last time they examined the agency's books. It backed $134 billion worth of new loans in the fiscal year ended Sept. 30, instead of the projected $191 billion.

We are amused that the defaults from FHA's shoddy underwriting in the mid-1990s through 2008 "free-for-all" era do not figure in the above blame accounting (this would include laundering-based, no-money-down "charitable downpayment assistance" loans, or SFDPAs).

]]>
iehi-feed-55431 Fri, 14 Nov 2014 21:02:00 GMT Less than half of U.S. cities are affordable for people who earn a median income http://implode-explode.com/viewnews/2014-11-14_LessthanhalfofUScitiesareaffordableforpeoplewhoearnamedianincome.html iehi-feed-55425 Thu, 13 Nov 2014 20:50:02 GMT World's Richest Restaurateur: Imminent Crash In America's "Crazy" Real-Estate Market http://implode-explode.com/viewnews/2014-11-13_WorldsRichestRestaurateurImminentCrashInAmericasCrazyRealEstateM.html iehi-feed-55394 Sun, 09 Nov 2014 13:07:46 GMT Buyer Finds 3 Year Old Corpse Of Previous Owner In New Home http://implode-explode.com/viewnews/2014-11-09_BuyerFinds3YearOldCorpseOfPreviousOwnerInNewHome.html iehi-feed-55355 Tue, 04 Nov 2014 20:36:12 GMT Home-price growth slows to two-year low http://implode-explode.com/viewnews/2014-11-04_Homepricegrowthslowstotwoyearlow.html iehi-feed-55352 Tue, 04 Nov 2014 16:35:06 GMT Why Housing Is Dead: First-Time Buyers Collapse To 27-Year Lows http://implode-explode.com/viewnews/2014-11-04_WhyHousingIsDeadFirstTimeBuyersCollapseTo27YearLows.html iehi-feed-55306 Wed, 29 Oct 2014 15:22:43 GMT Mortgage Purchase Applications Plunge To 19-Year Lows http://implode-explode.com/viewnews/2014-10-29_MortgagePurchaseApplicationsPlungeTo19YearLows.html iehi-feed-55294 Tue, 28 Oct 2014 19:50:40 GMT It Shouldn't Hurt This Much to Get a Mortgage - Barry Ritholtz http://implode-explode.com/viewnews/2014-10-28_ItShouldntHurtThisMuchtoGetaMortgageBarryRitholtz.html iehi-feed-55292 Tue, 28 Oct 2014 19:49:11 GMT Home Prices in U.S. Show Slower Year-to-Year Increase in August http://implode-explode.com/viewnews/2014-10-28_HomePricesinUSShowSlowerYeartoYearIncreaseinAugust.html iehi-feed-55288 Sat, 25 Oct 2014 14:08:01 GMT One-Fifth of Detroit's Population Could Lose Their Homes http://implode-explode.com/viewnews/2014-10-25_OneFifthofDetroitsPopulationCouldLoseTheirHomes.html iehi-feed-55286 Fri, 24 Oct 2014 20:01:02 GMT No Picket Fence: Younger Adults Opting to Rent http://implode-explode.com/viewnews/2014-10-24_NoPicketFenceYoungerAdultsOptingtoRent.html "They're not going to go from living with their parents to buying a home," said Mark Zandi, chief economist at Moody's Analytics, speaking at a housing conference in Washington. "They're going to rent an apartment."

...

While construction of single-family homes is only halfway back to its prerecession levels, construction of multifamily units -- which include both condos and rentals -- is at its highest level in 25 years. Apartment construction is exceeding its prerecession peaks in some markets, including Austin, Tex.; the Washington metropolitan area; and San Jose, Calif., according to a recent report from the Joint Center for Housing Studies at Harvard.''

]]>
iehi-feed-55285 Fri, 24 Oct 2014 19:57:22 GMT Nevermind: New-Home Sales Staying Sluggish, As Stats Revised http://implode-explode.com/viewnews/2014-10-24_NevermindNewHomeSalesStayingSluggishAsStatsRevised.html iehi-feed-55279 Thu, 23 Oct 2014 19:51:24 GMT It will soon get easier to buy a home -- but don't do it http://implode-explode.com/viewnews/2014-10-23_Itwillsoongeteasiertobuyahomebutdontdoit.html iehi-feed-55264 Wed, 22 Oct 2014 15:33:40 GMT New rules adopted in hopes of spurring home loans (but not for another year) http://implode-explode.com/viewnews/2014-10-22_Newrulesadoptedinhopesofspurringhomeloansbutnotforanotheryear.html iehi-feed-55262 Tue, 21 Oct 2014 21:18:26 GMT US existing home sales up 2.4 per cent in Sept. to fastest rate in 2014; still lags 2013 pace http://implode-explode.com/viewnews/2014-10-21_USexistinghomesalesup24percentinSepttofastestratein2014stilllags.html iehi-feed-55141 Fri, 03 Oct 2014 13:57:31 GMT Mark Hanson - [Past] Peak Housing http://implode-explode.com/viewnews/2014-10-03_MarkHansonPastPeakHousing.html iehi-feed-55122 Tue, 30 Sep 2014 16:31:45 GMT Case-Shiller: Market Cooled Further in July (READ: RAPIDLY DECELERATING) http://implode-explode.com/viewnews/2014-09-30_CaseShillerMarketCooledFurtherinJulyREADRAPIDLYDECELERATING.html iehi-feed-55120 Tue, 30 Sep 2014 16:22:48 GMT Murdoch's News Corp. to buy parent of Realtor.com for $950 million (GREAT SYNERGY FOR REAL ESTATE PROPAGANDA!) http://implode-explode.com/viewnews/2014-09-30_MurdochsNewsCorptobuyparentofRealtorcomfor950millionGREATSYNERGY.html