News releases are posted from the newest to the oldest.
The news releases posted here are for the use of news organizations, web site owners and bloggers, who want to keep their visitors up to date on the latest Housing Predictor news. They are provided here for you to copy and paste on to your online web sites and for the use of other off-line news organizations.
Housing Predictor Forecasts Record Deflation
Release date: 12/01/08
An already weakening economy will see home prices fall at unprecedented levels in most U.S. housing markets. The credit crisis will trigger more home price losses in the majority of the nation in 2009, leading to historic losses in value, according to the new Housing Predictor national forecast.
Although home sales in some markets have improved over the past few months, the foreclosure epidemic has broadened into markets that had hardly been impacted. It’s gotten harder and harder to get financing on real estate purchases, which has made a damaging impact on the nation’s economy.
The government’s bailout programs have made little impact on the nation’s housing market, which are at the root of the crisis after the U.S. Congress deregulated the securities traded on Wall Street at the core of the financial crisis at the end of the Clinton Administration. The crisis is making major impacts on real estate markets as foreclosures hit new record highs.
Housing Predictor was the first research firm to forecast the foreclosure epidemic and the real estate depression, and carefully monitors more than 250 local housing markets in all 50 states. The crisis has broadened to all but a few handfuls of markets scattered throughout the country.
When the forecasts were first issued few seemed to grasp the gravity of the foreclosure epidemic. However, the crisis now receives daily news coverage as it impacts the overall economy. Government leaders have allocated more than $2-trillion in bailout funds. But have not yet directly dealt with direct aid for homeowners threatened with foreclosure, which are at the core of the problem.
The unprecedented number of foreclosures has sent banks, mortgage companies, insurance companies and other businesses into a tailspin as each foreclosure damages the national economy.
Find out the full details of the new national forecast and other real estate news at http://www.housingpredictor.com
Survey Shows Obama Will Improve Economy
Release date: 11/24/08
A majority of those surveyed say President-elect Barack Obama will be able to improve the U.S. economy, which has been slammed by the real estate crisis, according to a new opinion poll by Housing Predictor.
The survey found that 56% of those surveyed believe the new president will be able to make a difference after he is sworn into office January 20th. A slimmer margin of 31% said Obama, who was elected to the White House by a six percent margin over his chief Republican challenger John McCain, will not be able to improve the nation’s economy.
Obama ran for the presidency on a platform of “Change” after the Bush Administration produced the worst economic crisis since the Great Depression, urging mortgage companies and home loan lenders to lend more freely to increase home ownership. The rise of home ownership hit record levels in 2007 before falling to near new lows due to the national housing depression.
Housing prices are continuing to slide in the over-whelming majority of markets throughout the country and the consumer price index indicates consumers are buying less going into the holiday season. Banks have pulled lines of credit and second mortgages as a result of falling values.
The epidemic of foreclosures has topped 3-million properties since the crisis began to affect the marketplace, initially effecting low income buyers with subprime mortgages. The majority of those now defaulting on mortgages are home owners with conventional mortgages that have become unbearable to handle.
Housing Predictor regularly surveys visitors on issues related to the real estate market and the nation’s economy, and forecasts more than 250 local housing markets in all 50 states. The web site also provides real estate news and was the first to forecast the nation’s foreclosure epidemic. Visit http://www.housingpredictor.com
Despite Recession Most Upbeat about Finances
Release date: 11/10/08
Despite a recessionary economy, most people are upbeat about their personal financial situation. Nearly two out of three surveyed say they are financially stable enough to handle an economic depression, according to a new poll.
The poll was conducted by Housing Predictor dot com, which forecasts more than 250 local housing markets in all 50 U.S. states and regularly surveys visitors to its web site regarding real estate related issues. The nation’s economic crisis started in the housing market and has spread into virtually every corner of the economy.
Some 65% of those surveyed say they are financially stable enough to make it through a depression. The remaining 35% said they are not confident enough about their own finances to make it through an economic depression.
The lack of consumer confidence, growing unemployment figures, business failures and the lack of investor confidence in financial markets has led to growing concerns over the nation’s economy. The crisis has become a pivotal point in politics, perhaps leading to the election of Senator Barack Obama as the new president.
Housing Predictor polls have been a leading indicator of the nation’s economy, foretelling future trends before the economic crisis became apparent. Housing Predictor real estate experts also forecasted the foreclosure epidemic and the real estate depression. Forecasts are issued annually and updated throughout the year as local market conditions change.
The foreclosure epidemic has now affected more than 3-million property owners. An estimated 22,000 new foreclosures are taking place nationally each week, making it the biggest economic crisis since the Great Depression. More than 500,000 homeowners are either in default with their mortgages or are late with payments. Another 3.4 million foreclosures are forecast to occur by Housing Predictor through 2011.
Get the latest on the real estate crisis, check the top markets most likely to rebound the soonest and search foreclosures at http://www.housingpredictor.com
Survey Says Bailout Will Fail
Release date: 10/21/08
A huge majority say the Congressional bailout of the financial markets will fail to stabilize the U.S. housing market, according to a new survey conducted by Housing Predictor dot com.
Some 3 out of 4 respondents to the online opinion poll conducted after Congress approved the $700-billion bailout package, which has grown to more than $2-trillion since receiving approval by lawmakers, believe the efforts by Congress and the White House will fail to stabilize housing markets.
Run away fraud on Wall Street, new securities developed to sell a record number of mortgages tied with loan fraud by hundreds of thousands of lenders and mortgage borrowers all produced the frenzied real estate boom, igniting a national marketplace with falling home values.
Housing deflation and a society that has borrowed beyond its’ means has led to an epidemic of foreclosures that have topped 3 million properties nationwide. Another 3.4 million are forecast to be foreclosed by Housing Predictor through 2011 unless Congress and government leaders tackle the problem and halt the growing number of foreclosures, which threaten to produce devastating affects to the overall national economy.
A bipartisan effort by Congress passed the bailout plan, and now Housing Predictor has called on members of both the House of Representatives and the Senate to pass an emergency law to freeze foreclosures for a period of six months. The moratorium would give lenders, Congress and homeowners enough time to produce equitable arrangements on home mortgage payments and greatly limit the excessive number of foreclosures that are taking place.
Many mortgage holders with adjustable rate mortgages are unable to refinance their properties due to falling home values and as a result are faced with foreclosure. An estimated 81% of all homeowners nationally who purchased properties as far back as 2002 owe more on the property than what it is worth in today’s marketplace.
Housing Predictor forecasts more than 250 local housing markets in all 50 U.S. states and provides real estate news and analysis. Visit http://www.housingpredictor.com