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.
Survey Shows U.S. Government Not Doing Enough
Release date: 7/7/09
A large majority of people surveyed say the U.S. government is not doing enough to save the country from falling into an economic depression, according to a new Housing Predictor poll.
The survey, conducted over the last three weeks, showed that 62% of those who responded to the poll said Congress and the new White House Administration is not doing enough to help the country avoid an economic depression. Washington, D.C. policymakers and the Obama administration have provided bail-outs to bankers, the ailing auto industry and other commercial enterprises.
However, the economic crisis started in the housing market from a tsunami of bad mortgages made by bankers and sold on Wall Street resulting in the worst foreclosure epidemic in the nation’s history. More than 4.2-million homes have been foreclosed so far in the crisis and nearly another 6-million are forecast to be foreclosed unless government leaders come up with solutions to solve the epidemic.
More than 2.1-million homes sit vacant as a result of the crisis as an increasing number of homeowners are unable to obtain refinancing on their mortgages. More and more conventional mortgage holders are walking away from their homes as a result of falling home values, which have fallen as much as 80% on average in some of the country’s worst hit housing markets.
Housing Predictor forecasts more than 250 housing markets in all U.S. states, updating forecasts throughout the year as market conditions change. Leading real estate companies, home builders, Wall Street bankers, real estate investors, home owners and many of the country’s largest retailers depend on Housing Predictor forecasts.
Majority Say Housing Prices Will Hit New Records
Release date: 6/16/09
Despite all the negative news in real estate triggered by the nation’s financial crisis, a large majority believe housing prices will rebound and hit record highs again. Nearly 2 out of 3 surveyed say they expect home prices to recoup their losses and reach the record highs attained during the real estate boom.
The Housing Predictor survey indicates that homeowners and would-be homeowners are clearly demonstrating more confidence in the economy regarding real estate than they had been. Some 62% of all those surveyed said they expect home prices to rebound and reach the highs attained during the boom. The survey asked respondents only if they expected home prices to someday reach the record high prices in housing experienced during the height of the real estate boom.
Housing price rebounds are typical of the cyclical nature of real estate patterns. However, traders on Wall Street developed new products to artificially inflate markets with mortgage lenders, resulting in the delivery of an explosive mix for the world’s financial markets. Housing analysts contend it will take at least a decade or more for markets to attain the record high housing values if they ever do again.
Some especially hard hit areas of the country have suffered from average housing deflation of 70% or more as foreclosures rise. More than 4.2-million foreclosures have occurred as a result of the foreclosure epidemic, which is at the center of the nation’s economic crisis.
Housing Predictor forecasted the national real estate depression, the foreclosure epidemic and regularly conducts Predictor Polls to gauge consumer sentiment on issues related to real estate. Get the forecast for the housing markets bottom, search real estate listings, foreclosures and check on the latest real estate news at http://www.housingpredictor.com
Forecasting the Bottom of the Housing Market
Release date: 5/27/09
Analysts haven’t ventured into forecasting the bottom of the housing market at Housing Predictor for more than a year after financial markets collapsed. However, forecasters have now issued the forecast for the bottom of the housing market.
Despite the worsening national economy, Housing Predictor forecasters see an end to the housing mess as some markets begin to show at least signs of the beginning of a recovery. But don’t expect this recovery to be a quick one, according to forecasters, who regularly track more than 250 local housing markets in all 50 states. The forecast for the bottom of the housing market is available at Housing Predictor dot com.
The Worst 25 Housing Markets named in 2009 were just updated and the list is compiled of markets that represent some of the best opportunities available in years to purchase real estate at low prices. Veteran real estate investors search for markets that are declining to capitalize on to find the right deals to make their purchases. The lower the prices the better the deals, and then they wait out the markets return for the good times to sell.
With an all-time record high inventory of foreclosures, buyers are making purchases in markets from coast to coast at bargain basement prices. Housing markets have been driven in large part historically by the Federal Reserve Board of Governor’s setting interest rates. The Fed is holding steady on interest rate moves these days in order to draw home buyers back into the market and recharge the U.S. economy.
Housing Predictor forecasted the national real estate depression, the foreclosure epidemic and regularly conducts Predictor Polls to gauge consumer sentiment on issues related to real estate. Get the details on the forecast for the housing markets bottom, search foreclosures and check the latest real estate news at http://www.housingpredictor.com
Majority Do Not Fear Foreclosure
Release date: 5/18/09
The over-whelming majority of homeowners with mortgages are not afraid that their homes will be foreclosed during the nation’s economic downturn, according to a new survey by Housing Predictor dot com.
The new Predictor Poll found that 81% of all those surveyed are confident they’ll be able to hold on to their homes during the economic crisis. Only 13% or one out of about eight mortgage holders fears they will be foreclosed. Six percent who responded to the poll said they had already had a home or other property foreclosed.
Those who fear they’ll be foreclosed are a result of rising mortgage defaults in light of the U.S. mortgage crisis and rising unemployment. The foreclosure epidemic has broadened into conventional mortgages from higher risk subprime and adjustable rate mortgages. The majority of loans now in default are conventional mortgages. The survey was conducted during a three week period.
The poll comes on the heals of the Obama administration’s announcement to expand its mortgage aid program intended to provide new help for homeowners to avoid foreclosure if they do not qualify for other assistance. The measures are intended to help streamline the process for selling a home worth less than what is owed on a mortgage or transfer ownership back to the bank more easily.
More than four million homes have been foreclosed since the epidemic started more than a year and a half ago, and more than 3.5-million more homes are forecast to be foreclosed through 2010.
Housing Predictor regularly surveys visitors on real estate related issues and issues more than 250 local housing market forecasts in all 50 U.S. states. Check the latest forecast for your market, real estate news and search foreclosures at http://www.housingpredictor.com
* For previous Housing Predictor news releases see our archived page.