Comments on: The Ever Changing Real Estate Market https://realtybiznews.com/the-ever-changing-real-estate-market/98724959/ With the latest on mortgages, refinancing, real estate & home tips Thu, 17 Jul 2014 20:03:55 +0000 hourly 1 http://wordpress.org/?v=3.9.1 By: Brian Kline https://realtybiznews.com/the-ever-changing-real-estate-market/98724959/#comment-266450 Sun, 25 May 2014 19:38:22 +0000 https://realtybiznews.com/?p=24959#comment-266450 KJ,
More good information. I’m sure readers appreciate it. Feel welcome to make more insightful comments.

Brian

]]> By: Brian Kline https://realtybiznews.com/the-ever-changing-real-estate-market/98724959/#comment-266449 Sun, 25 May 2014 19:36:29 +0000 https://realtybiznews.com/?p=24959#comment-266449 Thanks KJ,
That’s some very thorough analysis. It took me a few minutes to understand your numbers but they do make sense.
Brian

]]> By: kj https://realtybiznews.com/the-ever-changing-real-estate-market/98724959/#comment-266447 Sun, 25 May 2014 19:05:02 +0000 https://realtybiznews.com/?p=24959#comment-266447 Furthermore, on a national basis, nearly 30% of homes are owned outright without a mortgage.

The forty percent of mortgaged homeowners being underwater, effectively or otherwise, would equate to roughly 28 out of 100 homes being underwater on a national average, even at this late stage of the supposed recovery.

]]> By: Brian Kline https://realtybiznews.com/the-ever-changing-real-estate-market/98724959/#comment-266446 Sun, 25 May 2014 18:50:04 +0000 https://realtybiznews.com/?p=24959#comment-266446 Hi Tom,
Thanks for the comment. There is no supporting survey or study. It’s my own personal observation based on years of watching and forecasting the real estate market. I welcome opposing views. So, if you have a contrary view, feel welcome to post it as a comment.

Sincerely,
Brian Kline

]]> By: kj https://realtybiznews.com/the-ever-changing-real-estate-market/98724959/#comment-266444 Sun, 25 May 2014 18:42:53 +0000 https://realtybiznews.com/?p=24959#comment-266444 I won’t argue your points above because there may be some truth to them but I think Zillow is right on the money with this report where they find that nearly 40% of homeowners with a mortgage are still underwater or effectively underwater:

WASHINGTON — Nearly 10 million Americans remain financially trapped by homes worth less than their mortgage debts — an enduring drag on the U.S. economy almost seven years after the housing bust triggered the Great Recession.

During the first three months of this year, 18.8 percent of homeowners with a mortgage — 9.7 million — owed more on their loans than their properties would sell for, according to online real estate database Zillow. Though that was an improvement from the 25.4 percent figure of a year ago, the share of such “underwater” homeowners is about four times the historic average.

An additional 18.1 percent of mortgage holders were “effectively” underwater: They had equity, but the proceeds from selling their home would be too low to recoup the sales costs and also put a down payment on a new property.

The consequence is that few Americans are putting their homes on the market, thereby limiting the economic growth made possible by sales. Because of the shortage of homes being listed, bidding wars have inflated prices in parts of the country to levels that squeeze out many first-time and middle class buyers

http://bostonherald.com/business/real_estate/2014/05/housing_debt_still_traps_10_million_americans

]]> By: Tom https://realtybiznews.com/the-ever-changing-real-estate-market/98724959/#comment-266406 Sun, 25 May 2014 02:07:29 +0000 https://realtybiznews.com/?p=24959#comment-266406 >>>In two short years, the real estate market has gone from distressed foreclosure sales at deep discounts to a market where potential sellers are afraid to sell because they don’t think they can find a replacement home – not at any price.

Where is the survey or study to support this claim?

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