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 Markets Show Stabilization
Release date: 9/17/09
Despite falling home prices in many areas of the country, housing markets are stabilizing, according to a new report. Housing Predictor details where markets are stabilizing and provides up to date insight on what can be done for the nation’s housing markets to return to a healthy balance.
The stabilization of housing markets is widely accepted as being the first step in the nation’s overall economic recovery.
For all their lack of meaningful action, government leaders are finally in agreement that the foreclosure epidemic, which was forecast by Housing Predictor nearly three years ago, is the most severe economic problem facing the U.S. today. Without stabilization in housing from the worst housing depression since the Great Depression, real estate economists warn the economy will worsen.
The mortgage rescue plan offered by the Obama administration to help borrowers is riddled with problems as was his predecessor’s. The subprime mortgage rescue plan offered by President George W. Bush provided an enormous lee-way for weakness to develop in the economy that fell into a deepening recession.
The investment and real estate markets were at their highest levels in the nation’s history at the height of the real estate boom. More than 4 million homes have been foreclosed, and even the Treasury Department now says millions more will be foreclosed. The crisis has broadly extended into the conventional mortgage market and has taken a major toll on the national economy as unemployment rises and business failures climb.
Housing Predictor forecasts more than 250 local housing markets in all 50 states, offers real estate news and analysis and foreclosure listings. Visit http://www.housingpredictor.com
Majority Favor Extension of Home Buyers Credit
Release date: 8/30/09
A large majority favor an extension of the government’s first time home buyers tax credit and want it expanded to include all home buyers. The determination was found through an opinion poll conducted by Housing Predictor.
Some 60% of those surveyed said they want the federal government’s $8,000 tax credit to be extended beyond its November 30th deadline. The majority also favors an expansion to include all home buyers in an effort to strengthen the U.S. housing market, which has been declining at nearly unprecedented levels, despite a rise in home sales in many areas of the country.
The incentive was started as a move by Congress to reenergize the nation’s housing market after the U.S. began to suffer through its worst decline in housing values since the Great Depression. The remaining 40% of those polled said they do not favor an extension or expansion of the incentive, despite the national foreclosure epidemic, which is forecast to hit 10-million homes through 2012.
The foreclosure epidemic is recognized widely by economists for being at the forefront of the nation’s economic crisis. More than 9% of mortgage holders nationally are either in default of their loans or in the process of foreclosure. Nearly 1 out of 4 homeowners owe more on their homes than what they could get if they were sold in the current economic environment.
Housing Predictor regularly surveys visitors to its Website on real estate and economic related issues. Housing Predictor forecasts more than 250 local housing markets in all 50 states. Check your market forecast, search foreclosures, take the new Predictor Poll and check the latest real estate news at http://www.housingpredictor.com
Worst Housing Markets Settling Down
Release date: 8/24/09
They have changed from time to time over the year, but the Worst 25 U.S. Housing Markets forecast in 2009 are reaching the point where they’re fitting into their positions these days. Despite an increase in home sales in the majority of markets, the worst economic conditions since the Great Depression have produced plenty of double-digit losers.
The financial crisis has triggered record foreclosures damaging communities across the country as Housing Predictor forecast. Yet, there are still a handful of markets that will be the exception to the rule. The Hottest 10 markets aren’t confined to any particular part of the country scattered throughout the U.S.
Housing Predictor’s selection of the Hottest 10 Buyers Markets are based on research carried on over the entire year on all 250 local real estate markets Housing Predictor tracks. In most cases the markets won’t appreciate much in 2009, but possess plenty of indicators to show that their housing markets will remain strong over the next few years, despite the down fall in the national economy.
Housing Predictor is consulted by the nation’s foremost investment houses, banks, mortgage companies, real estate firms and most importantly consumers for more than 250 local housing market forecasts in all 50 states. Forecasts are updated regularly and changed as local market conditions demand over the entire year.
To see the entire list of the Worst 25 markets, the Hottest 10 Buyers Markets and search foreclosures visit http://www.housingpredictor.com
Housing Market Will Fizzle, Survey Finds
Release date: 8/17/09
An overwhelmingly majority say the U.S. housing market will fizzle once the first time home buyers tax credit expires towards the end of the year, a new survey found.
Home sales in the nation’s housing market have been sparked by the tax credit, signaling hopes of a recovery in ailing markets throughout the country. Some 77% of those surveyed in a Housing Predictor poll said improving home sales will halt once the first time home buyers $8,000 federal tax credit expires December 1st.
The collapse of the housing market was triggered by an epidemic of foreclosures, which have reached all-time record levels. Only 23% or less than 1 out of 4 who responded to the survey said the market would continue to improve after the tax credit expires.
Renewed interest prompted by the tax credit in housing coupled with lower home prices are at the center of a real estate recovery as home values in the majority of the country decline. The tax credit may be extended when Congress reconvenes.
The majority of homeowners being foreclosed are now conventional mortgage borrowers, who purchased adjustable rate mortgages, 3-million of which are being reset in 2009. A record high 360,149 foreclosure courthouse filings were made in July, according to RealtyTrac. The figure represents a 32% rise over one year ago. The epidemic has had widespread repercussions for the national economy, which has lingered in a deepening recession for more than 20-months.
Housing Predictor forecasts more than 250 local housing markets in all 50 states, and is regularly consulted by the nation’s top businesses, government officials and homeowners for its forecasts and real estate news. Get the latest on your market at http://www.housingpredictor.com
Top Forecast Housing Markets Improve
Release date: 8/11/09
The annual Top 25 housing market forecasts released by Housing Predictor have a number of markets that show improving trends. Housing Predictor forecasts more than 250 local real estate markets in all 50 U.S. states. The Top 25 markets and the Worst 25 market forecasts are issued annually and updated as local market conditions change.
The best markets have the highest probability of hitting their forecast out of the more than 250 markets forecast. Almost three years ago Housing Predictor analysts forecasted the foreclosure epidemic. But there is evidence accumulating the new administration’s housing rescue plan is beginning to work.
A handful of markets are now forecast to experience housing inflation through the remainder of 2009 in what is still regarded as the worst recession since the Great Depression. The forecasts illustrate that no matter what occurs with the national economy real estate markets are highly driven by local factors.
A total of seventeen markets scattered throughout the country were forecast to appreciate during the year at the beginning of 2009, but that number has been slashed. Fewer markets are projected to experience inflation over the remainder of the year. But there are more that are forecast to turn positive now than just days ago.
The epidemic of foreclosures topping 4-million households has had a major impact on the nation’s economy. More than 3-million Alternative A mortgages are resetting in 2009, and are expected to trigger another massive round of foreclosures.
Check your market forecast, the top 25 markets, search foreclosures and keep up with real estate news at http://www.housingpredictor.com
Annual Hottest Buyers Markets Named
Release date: 8/4/09
The annual hottest 10 buyers housing markets named in the second half of 2009 are scattered across the country in nine different states with only Texas taking two of the top spots. No other state dominates the annual Housing Predictor top buyers markets list for the rest of the year.
Despite the downturn in housing markets, communities in Utah, South Dakota, Mississippi, North Dakota, Montana, Louisiana, Arizona, Wyoming and Mississippi were named to the list. None of the markets are in major urban centers, which have generally been devastated by the financial crisis.
The top spot in the annual mid-year update goes to Amarillo, Texas and is among the top markets forecast to attain the highest appreciation for the year.
The hottest 10 buyers markets represent growing local economies, which are projected to grow into 2010, despite the recessionary economy, and into the following decade as the composition of the U.S. population changes, resulting in a major shift in housing markets nationally.
A new generation of hope has been delivered by the Obama administration, and the hottest buyers markets represent communities that possess the highest probability of success for home buyers to make a profit. These markets may be considered the best of the worst in what has materialized as the worst economy since the Great Depression.
Housing Predictor forecasts more than 250 local housing markets in all 50 states. Check your market forecast, search real estate listings, foreclosures, take the new Predictor Poll and check the latest real estate news at http://www.housingpredictor.com
America Wants Claw-Backs, Survey Shows
Release date: 7/29/09
Apparently fed-up with the way the U.S. government is handling the financial crisis, more than 2 out of 3 surveyed say they want Congress to pass laws to force corporate executives to return money they received as bonuses.
The new Housing Predictor poll found that 67% or more than 2 out of 3 Americans want Congress to pass legislation requiring bankers, Corporate CEOs and other corporate executives to return the bonuses to help defray at least part of the cost of the U.S. financial crisis.
Banking lobbyists and lobbyists associated with the building and real estate industries have been fighting such proposals in Washington, D.C. However, faced with the worst recession since the Great Depression policymakers are holding a series of hearings to come up with solutions to the economic crisis, and in times of crisis elected government officials are called on to take actions that are unprecedented.
Wall Street bankers concocted new formulas to trade derivatives and other securities on Wall Street that were unregulated, promoting a call for new legislation to control such trading practices. The securities tied to Wall Street and the formation of new creative mortgages developed by bankers is being highly blamed for the crisis, which triggered a record level of home foreclosures.
The financial crisis has also triggered more bankruptcies of businesses than since at least the 1960’s. Unemployment is sky-rocketing and as more employees lose jobs foreclosures are expected to worsen resulting in growing housing deflation.
Housing Predictor forecasts more than 250 local housing markets in all 50 states. Check your market forecast, search real estate listings, find a foreclosure, take the new Predictor Poll and check the latest real estate news at http://www..housingpredictor.com
Housing Predictor Announces New Widget
Release date: 7/14/09
Housing Predictor, which provides housing market forecasts for more than 250 local real estate markets in all 50 states and real estate news, has added a new Widget for Website owners, bloggers and news organizations.
The new Widget includes a list of the latest updates to the Housing Predictor Website, and is available to install at HousingPredictor.com. The feed is another innovation provided by Housing Predictor, which has been hailed as a leader in real estate forecasts and news.
Many of the nation’s largest investment houses, mortgage companies, banks and real estate firms consult Housing Predictor for forecasts. The company was the first real estate research firm to forecast the foreclosure epidemic and the national housing depression.
Housing market forecasts are updated year round to meet the demand of local market conditions. Visitors may also subscribe to an RSS feed to keep up with market conditions by subscribing to Housing Predictor through an RSS feed. A service to collect the web site reports and forecasts may be obtained for free at www.feedburner.com.
After three years of declining housing values in many areas of the country, markets appear to shows signs of improving in some areas. Rebounds are typical of the cyclical nature of real estate patterns. But since traders on Wall Street developed new products to artificially inflate markets with mortgage lenders, the recovery from this downturn is widely anticipated to take much longer than others.
To check on your markets forecast, the nation’s Top 25 housing markets, the Worst 25 markets and get the Widget visit http://www.housingpredictor.com
* For previous Housing Predictor news releases see our archived page.