1. Property Values Set To Fall 43 Percent From Current Depressed Levels [
SeekingAlpha.com]
If you use a 20-year time horizon, and assume prices will return to the trend line, then our residential property bubble will bottom after values fall over 40 percent from current levels.
2. Mortgage-Bond Prices Tumble After Months Of Gains [
Bloomberg]
U.S. home-loan bonds without government backing slumped after almost three months of gains, as supply overwhelmed demand amid concern that the housing market hasn't bottomed.
3. Fewer U.S. Homeowners Owe More Than Properties Are Worth Share Business [
Bloomberg]
The number of U.S. homeowners who owe more than their properties are worth fell in the third quarter as values stabilized and some homes were lost to foreclosure, Zillow.com said. About 21 percent of owners of mortgaged homes were underwater, down from 23 percent in the second quarter, the Seattle-based real estate data provider said today in a report.
4. Time To Buy? Mortgage Rates Drop Below 5 Percent [New York Daily News]
Interest rates on U.S. 30-year fixed-rate mortgages averaged 4.98 percent for the week ending November 5, down from the previous week's 5.03 percent, according to a survey released on Thursday by home funding company Freddie Mac (FRE.P) (FRE.N).
5. Zillow: Fewer Homeowners Underwater [Inman News]
The percentage of U.S. homeowners with mortgage debt that exceeds the value of their home declined slightly from the second to third quarters, in part because home prices are stabilizing but also because many homeowners who had been underwater lost their homes to foreclosure, Zillow.com reported today.
6. The Decline And Fall Of The Bachelor Pad [The New York Times]
Bachelors always seemed to have it made. With only themselves to support, they could flash their cash and trick out their apartments in such a way that James Bond himself would feel at home shaking himself a martini in their ultra-cool, chick-magnet pads, then the recession thundered in, and suddenly young men found themselves one of the hardest hit demographic segments.
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