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Scott Conroy pays the mortgage every month on his one-bedroom condominium in San Diego, even though it’s worth 33 percent less than what he owes and it may take more than a decade to break even. Homeowners like Conroy who can afford their monthly payments are weighing whether to sell and pay the difference, stick it out until housing prices recover, or walk away. In the U.S., 26 percent of borrowers owe more than their home is worth, said Karen Weaver, global head of securitization research fo

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News Sources wrote an interesting post today on
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Underwriting, Mortgage Lending, and House Prices: 1996-2008 Source: Fisher Center for Real Estate & Urban Economics Working Papers Lowering of underwriting standards may have contributed much to the unprecedented recent rise and subsequent fall of mortgage volumes and house prices. Conventional data don’t satisfactorily measure aggregate underwriting standards over the past decade: The easing and then tightening of underwriting, inside and especially outside of banks, was likely much

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News Sources wrote an interesting post today on
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Imported wine at seven bucks a bottle. Incredibly cheap food, jeans and household staples. Real estate prices 40% below levels of more than a decade ago. Structural unemployment and families that save a fifth of their gross income. Welcome to Japan, and the new face of deflation. The country’s in the news this week after the latest stats showing Japanese prices racing downwards at an unprecedented clip. Now we hear that Germany has been in a price decline for four months and, of course, Cana

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News Sources wrote an interesting post today on
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I spent some time today going through a hundred headlines from this decade relating to the housing market. What I found is rather telling and may be contrary to what you would expect. Some in the press were early to the housing bubble but as the housing market grew stronger and the bubble expanded, many of those in the press pushed their assumptions aside and learned to love the housing bubble. Even as option ARMs and Alt-A loans made their way through the market, the housing bubble suddenl

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News Sources wrote an interesting post today on
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By Wesley Watkis Financial planning is a good idea no matter how old you are, but your 30s are one of the best times to really focus (or get started) on a plan for the future. By now, you are probably more established in your life than you were a decade ago. You have had some time to build your career, ideally with a company-furnished 401(k) for retirement or some other long-term plan. Financial planning is a good idea no matter how old you are, but your 30s are one of the best times

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