January 2007 - MND NewsWire

Escalating home prices have pushed homeownership toward un-affordability in many parts of the country. Homelessness is an ever increasing problem and population growth appears to be headed toward a pattern of smaller but more numerous households which, regardless of size, will need a place to live.

So it's a no-brainer that America needs more housing. Well sure, except Not in My Back Yard! ...

First read the press release issued on Tuesday by the National Association of Realtors regarding data on the sale of existing homes in December and for all of 2006 and then read the New York Times article on the same topic. We will then have a spirited discussion on the subject of reality, slant, and spin.

Well honestly, there are no truths, only opinions. And there are few real estate issues where opinions are more numerous and more nuanced than the open house. Some agents love them; some consider them a necessary evil or a service to keep clients happy, others outright despise them. Sellers might demand one or one every week or refuse to allow them at all. FSBOs seem to think they are the key to selling a house without an agent, and buyers generally love them.

You know what. They all have a point...

Both long and short term interest rates were up again during the week ended January 11 according to Freddie Mac's Primary Mortgage Market Survey.

MBA also released its economic forecasts for the next three years...

The January 2007 Economic Outlook which is published last week by the Office of the Chief Economist at Freddie Mac was headlined "The Remodeled Housing Market" and was focused on economic trends.

But first it recapped the current housing market...

Freddie Mac 23rd Annual Adjustable Rate Mortgage (ARM) Survey released last week contained few surprises. The three major findings were:

The Web is truly getting crowded with real estate web sites, each trying to carve out its own niche. Reply.com has taken a different approach. Rather than listings readers are invited to make an unsolicited offer on any property in which they have an interest...

Inflation jitters caused mortgages rates to increase a bit during the last full week of 2006 according to the Primary Mortgage Market Survey released by Freddie Mac for the period ending December 28.

Frank Nothaft, Freddie Mac vice president and chief economist cited figures indicating that increased consumer spending in November was the primary cause for the markets' worries. "Financial markets," he said, "were...