Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-57090 Tue, 30 Jun 2015 13:31:53 GMT U.S. Pending Home Sales at Highest Level in Nine Years http://implode-explode.com/viewnews/2015-06-30_USPendingHomeSalesatHighestLevelinNineYears.html NAR reported a sharp pickup in existing home sales following a dip in April. Sales of existing homes soared 5.1% in May to a seasonally adjusted rate of 5.35 million, the highest level since November 2009, a time when government incentives in the wake of the recession boosted the real-estate market. This year's sales have exceeded last year's for eight straight months and stand at 9.2% above last year..

But existing home sales, which account for about 90% of the market, are still well below their prerecession peak, when they routinely exceeded 6 million and even topped 7 million for part of 2005.

This may be a blow-off peak before the Fed-induced liquidity bubble pops...

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iehi-feed-57037 Wed, 24 Jun 2015 14:59:06 GMT Hillary wants prosperity, Fonda joins Greenpeace, Yellen Says Crisis "Set to Fade," and other annoying nonsense | Mandelman Matters http://implode-explode.com/viewnews/2015-06-24_HillarywantsprosperityFondajoinsGreenpeaceYellenSaysCrisisSettoF.html iehi-feed-57033 Tue, 23 Jun 2015 18:31:23 GMT Home Sales Surge as Prices Pick Up (HIGH-END OF MARKET BREAKS OUT THE CHAMPAGNE!!) http://implode-explode.com/viewnews/2015-06-23_HomeSalesSurgeasPricesPickUpHIGHENDOFMARKETBREAKSOUTTHECHAMPAGNE.html iehi-feed-57023 Mon, 22 Jun 2015 13:42:35 GMT Australian housing market facing 'bloodbath' collapse: economists http://implode-explode.com/viewnews/2015-06-22_Australianhousingmarketfacingbloodbathcollapseeconomists.html iehi-feed-56987 Tue, 16 Jun 2015 20:59:19 GMT Foreign investors pose threat to residential real estate http://implode-explode.com/viewnews/2015-06-16_Foreigninvestorsposethreattoresidentialrealestate.html iehi-feed-56984 Tue, 16 Jun 2015 20:52:08 GMT Discover to close mortgage origination business, cut 460 jobs (BEATING EXIT AFTER 3 YEARS!!) http://implode-explode.com/viewnews/2015-06-16_Discovertoclosemortgageoriginationbusinesscut460jobsBEATINGEXITA.html iehi-feed-56980 Tue, 16 Jun 2015 15:48:18 GMT Investors driving world property market values to hit $US13.6tn http://implode-explode.com/viewnews/2015-06-16_InvestorsdrivingworldpropertymarketvaluestohitUS136tn.html iehi-feed-56971 Mon, 15 Jun 2015 17:56:01 GMT U.S. home builder sentiment rises in June: NAHB http://implode-explode.com/viewnews/2015-06-15_UShomebuildersentimentrisesinJuneNAHB.html iehi-feed-56925 Wed, 10 Jun 2015 20:25:51 GMT Foreclosures are UP and Back in the Headlines Again | Mandelman Matters http://implode-explode.com/viewnews/2015-06-10_ForeclosuresareUPandBackintheHeadlinesAgainMandelmanMatters.html iehi-feed-56911 Mon, 08 Jun 2015 15:53:41 GMT New Housing Headwind Looms as Fewer Renters Can Afford to Own http://implode-explode.com/viewnews/2015-06-08_NewHousingHeadwindLoomsasFewerRentersCanAffordtoOwn.html Last decade's housing crisis could give way to a new one in which many families lack the incomes or savings needed to buy homes, creating a surge of renters and a shortage of affordable housing.

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The U.S. homeownership rate is below where it stood 20 years ago when President Bill Clinton launched a national campaign to encourage Americans to buy homes. Conventional wisdom says the rate, at 63.7%, is leveling off to where it was for decades before the housing-market peak.

But this is probably wrong, according to research from the Urban Institute, which predicts homeownership will continue to slip for at least 15 years.

...

The downtrend would push homeownership below 62% in 2020, and it would hold the rate near 61% in 2030, below the lowest level since records began in 1965.

The declines reflect a surge of new renter households, which is boosting rents. Together with tougher mortgage-qualification rules, this will leave households stuck between homes they can't qualify to purchase and rentals they can't afford, says Ron Terwilliger, who spent two decades running Trammell Crow Residential, one of the nation's largest apartment developers.

As rent takes a larger share of income, families could face greater challenges in saving for a down payment. This could restrain a housing market that has failed to provide any real lift to the economy in the current expansion.

...

"America is blissfully unaware of this," says Lewis Ranieri, the financier who co-invented the mortgage-backed security, which allowed large numbers of baby boomers to become homeowners beginning in the 1980s. "We're rapidly running to a crisis in less than 10 years."

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iehi-feed-56883 Fri, 05 Jun 2015 02:45:21 GMT Bank of America Report: Housing to Start 3-Year Price Decline in 2017 | Mandelman Matters http://implode-explode.com/viewnews/2015-06-04_BankofAmericaReportHousingtoStart3YearPriceDeclinein2017Mandelma.html iehi-feed-56854 Tue, 02 Jun 2015 20:35:29 GMT Supreme Court hands defeat to struggling homeowners on Second Liens http://implode-explode.com/viewnews/2015-06-02_SupremeCourthandsdefeattostrugglinghomeownersonSecondLiens.html iehi-feed-56850 Mon, 01 Jun 2015 15:11:43 GMT Sydney and parts of Melbourne are 'unequivocally' in a house price bubble (AU) http://implode-explode.com/viewnews/2015-06-01_SydneyandpartsofMelbourneareunequivocallyinahousepricebubbleAU.html iehi-feed-56846 Mon, 01 Jun 2015 15:01:45 GMT "The Fed Has Been Horribly Wrong" Deutsche Bank Admits, Dares To Ask If Yellen Is Planning A Housing Market Crash http://implode-explode.com/viewnews/2015-06-01_TheFedHasBeenHorriblyWrongDeutscheBankAdmitsDaresToAskIfYellenIs.html iehi-feed-56830 Fri, 29 May 2015 13:12:45 GMT Germans turn their backs on renting with new property boom? http://implode-explode.com/viewnews/2015-05-29_Germansturntheirbacksonrentingwithnewpropertyboom.html iehi-feed-56828 Fri, 29 May 2015 13:08:11 GMT Michael "Air" Jordan Sees $15 Mil Disappear into Thin Air - Mandelman Matters http://implode-explode.com/viewnews/2015-05-29_MichaelAirJordanSees15MilDisappearintoThinAirMandelmanMatters.html iehi-feed-56824 Thu, 28 May 2015 19:23:16 GMT The Tiny House Powered Only by Wind and Sun http://implode-explode.com/viewnews/2015-05-28_TheTinyHousePoweredOnlybyWindandSun.html iehi-feed-56808 Tue, 26 May 2015 15:54:58 GMT Bond Traders Uncover Secret to Rates That Fed Doesn't Get http://implode-explode.com/viewnews/2015-05-26_BondTradersUncoverSecrettoRatesThatFedDoesntGet.html iehi-feed-56807 Tue, 26 May 2015 15:53:32 GMT New home sales, prices rise strongly in April, on Midwest Strength http://implode-explode.com/viewnews/2015-05-26_NewhomesalespricesrisestronglyinAprilonMidwestStrength.html iehi-feed-56801 Mon, 25 May 2015 14:59:45 GMT Where Is This Housing Rebound? | Alhambra Investment Partners http://implode-explode.com/viewnews/2015-05-25_WhereIsThisHousingReboundAlhambraInvestmentPartners.html