The Declining Market » Housing Trends http://thedecliningmarket.com Surviving the declining US economy and real estate markets Tue, 19 Jan 2010 22:21:50 +0000 http://wordpress.org/?v=2.8.1 en hourly 1 Home Prices Fall in 4Q 08- Worst on Annual Record since 1991 http://thedecliningmarket.com/2009/02/home-prices-fall-in-4q-08-worst-on-annual-record-since-1991/ http://thedecliningmarket.com/2009/02/home-prices-fall-in-4q-08-worst-on-annual-record-since-1991/#comments Tue, 24 Feb 2009 22:25:19 +0000 MarketSpecialist http://thedecliningmarket.com/?p=83 According to the Associated Press, there are some discouraging facts recently posted:

* Home prices tumbled by the worst annual rate on record in the fourth quarter

* Almost 14 million homeowners are already under water, according to Moody’s Economy.com (where they owe more than the home is worth)

* Confidence index sank to new lows in February as widespread layoffs, shrinking retirement accounts and plunging home prices fueled fears as stated by the

* The Standard & Poor’s/Case-Shiller U.S. National Home Price Index plunged more than 18 percent during the quarter from the prior-year period, the largest drop in its 21-year history

Read full story from the Associated Press.

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]]> http://thedecliningmarket.com/2009/02/home-prices-fall-in-4q-08-worst-on-annual-record-since-1991/feed/ 0 Home Builder WCI Communities Files for Chapter 11 http://thedecliningmarket.com/2008/08/home-builder-wci-communities-files-for-chapter-11/ http://thedecliningmarket.com/2008/08/home-builder-wci-communities-files-for-chapter-11/#comments Tue, 05 Aug 2008 06:01:39 +0000 MarketSpecialist http://thedecliningmarket.com/?p=48 WCI Home Builders could not obtain the necessary funding to maitain a healthy cash flow.  With $2.18 billion in assets and $1.92 billion in debts WCI had to file for Chapter 11.   WCI Home builders focus on the luxary real estate market where most of its business is centered out of Florida (one the top states for declining real estate prices).   A week ago its stock went from 99c to 2c.  This is a far cry from the ~$20 it was trading for about a year ago.   This is yet another plea for help in our declining real estate market. 

Read the full story from NY Times.

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]]> http://thedecliningmarket.com/2008/08/home-builder-wci-communities-files-for-chapter-11/feed/ 0 Could 500 Billion turn into a Trillion Dollars in Write Downs? http://thedecliningmarket.com/2008/07/could-500-billion-turn-into-1trillion-in-write-downs/ http://thedecliningmarket.com/2008/07/could-500-billion-turn-into-1trillion-in-write-downs/#comments Mon, 28 Jul 2008 17:04:27 +0000 MarketSpecialist http://thedecliningmarket.com/?p=41 With all the financial turmoil our economy is facing right now it is no surprise that there has already been 500 billion dollars in losses and asset write downs by our financial institutions.  According to Money Morning, this is forecasted to continue with an expected total of 1 TRILLION dollars in write downs! With so many people waiting on the sidelines to buy, it is not a far stretched theory.  Some feel that there is hope with the new bill that the US House of Representatives just passed:

  • Allowing the government to insure up to $300 billion in refinanced mortgages.
  • Establishing a tax break of as much as $7,500 for first-time homebuyers
  • And creating a new regulator to oversee government-sponsored enterprises Fannie and Freddie.

    • Though this may help, with 25 million homes in risk of entering into negative equity, there is no denying that there will be more write downs and losses to come resulting in tighter lending and downward pressure on market conditions. 

    Read the full article on Morning Money. 

    TheDecliningMarket.com / support@thedecliningmarket.com / 1-800-881-1479

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    ]]>     http://thedecliningmarket.com/2008/07/could-500-billion-turn-into-1trillion-in-write-downs/feed/ 0     Home prices fall in 100 major metro areas in first half http://thedecliningmarket.com/2008/07/home-prices-fall-in-100-major-metro-areas-in-first-half/ http://thedecliningmarket.com/2008/07/home-prices-fall-in-100-major-metro-areas-in-first-half/#comments Sat, 05 Jul 2008 17:45:48 +0000 admin http://thedecliningmarket.com/?p=24 Home prices fall in 100 major metro areas in the first half of 2008.

    Median national home prices down 7.7% in Q1 to $196,300.

    Biggest Losers:

    • Sacramento, CA down 29.2%
    • Riverside, CA down 27.7%
    • Lansing,MI down 26.9%

    Biggest Gainers:

    • Binghamton, NY up 11.8%
    • Peoria, IL up 10.4%
    • Spartanburg, SC up 10.1%

    See the full video from CNBC.

    ____________________________________________________

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