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Housing Policy

housing policy

Texas Realtors Unwittingly Paying For Bad TAMU Economic Research

Texas Realtors are paying for some bad economic research. That's the only conclusion I can come to after looking at the current situation where highly educated economists are giving short shrift to the underlying causes of Texas home price inflation and market distortions. While the Fed has abdicated its responsibility to the American public, TAMU economists seem to be cooperating with the Fed in offering "alternative facts" surrounding the declining affordability of housing and real estate market imbalances. In a previous post I posited a guess as to why this is happening. After looking at [...]

By |2021-04-21T11:24:58+00:00February 8th, 2017|Education, Housing Policy, Politics, Real Estate, Spin Cycle, Video|0 Comments
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Monkey Business – Expert Says Affordable Homes Are Going Away

Affordable homes are going away. With the prospect of rising rates, now is the time to buy a home. That is apparently the opinion of Dr. Luis Torres, a research economist with the Real Estate Center at Texas A&M. Torres, in a rather interesting piece in the Houston Business Journal seems to be confident that Houston's real estate market is on the road to recovery:  “I can say this with some certainty that the worst of the downturn is behind us.” I'm not surprised that HBJ would print a piece like this (after all it is [...]

By |2017-12-22T01:16:40+00:00February 5th, 2017|Economy, Housing Policy, Humor, In the Press, Markets, Mortgage Rates, Real Estate, Spin Cycle, Texas Employment|1 Comment
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Mortgage Rates Rip To Highest Level Since July 2015

Katy Texas mortgage rates rose to their highest levels since July 2015 as we ended the week. That new home you may have been looking to purchase just became more expensive. Unless you already had a mortgage rate locked in, higher rates likely means higher home payments or diminished expectations. As Friday came to a close, mortgage brokers were discussing the wreckage of higher yields and looking at a new interest rate landscape, at least in the short term. Mortgage News Daily explained the closing of the week in the mortgage market... "The most prevalent [...]

By |2017-12-22T01:52:34+00:00November 19th, 2016|Housing Policy, In the Press, Markets, Mortgage Rates, Real Estate|0 Comments
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Debt, Deficits & Housing – The Smoke & Mirrors “Recovery”

Many among the status quo have defended the last 8 years as a productive "recovery" from the abyss of financial armageddon unleashed by our criminal banking sector. The efficacy of the recovery depends on the person responding to the question. For the vast majority of the U.S. population, there has been no recovery, but instead a steady decline. If you have been paying attention to the early release of season 5 of 'House of Cards', speaking of the email data dump exposing our corrupt political machine for all to see, the reasons behind the phony [...]

By |2018-05-11T22:53:12+00:00October 18th, 2016|Economy, Housing Policy, In the Press, International Real Estate, Politics, Real Estate, Spin Cycle|2 Comments
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Fed Looks At Texas’ Affordable Housing Problem, Fails To Look In The Mirror

The Federal Reserve can be commended on one thing. They never cease to provide entertainment in terms of their complete ineptitude and functional obsolescence. The Fed continues to show no remorse for the damage they have inflicted on the general population and their destruction of what was formerly known as the U.S. housing market. The latest comedy from the Fed comes courtesy of the inaugural report from the Dallas Federal Reserve Community Outlook Series titled 'The Scarcity of Texas Affordable Housing' In this fun-filled trip down the rabbit hole, the Fed examines the problem of the lack [...]

By |2022-08-06T13:33:39+00:00October 1st, 2016|Economy, Housing Policy, In the Press, Politics, Real Estate, Spin Cycle, Texas Home Prices, Texas Property Taxes, Video|0 Comments
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Census: New Home Sales In June Rise To Highest Level Since 2008

The Census Bureau reported new residential sales for June that came in at a rate of 592,000 (SAAR). This was above expectations, and a continued indicator that the Fed's juicing of the market continues to provide a boost to new residential construction. The latest report shows that new home sales in June were 25.4 percent higher than last year. New home prices were also higher. The median price of a new home sold (contracted) in June was $306,700 and the average price was $358,200. This was a good report for new home sales, but it [...]

By |2022-08-06T13:34:05+00:00July 26th, 2016|Development, Economy, Housing Policy, Mortgage Rates, New Home Sales|0 Comments
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Foreign Investment In U.S. Real Estate Cools In 2016, But China Still Leads List Of Funny Money

The National Association of Realtors has published its latest survey profiling foreign buyers of U.S. real estate, and the latest data is remarkable for a number of reasons. Not surprisingly, China is still the largest source of foreign investment into U.S. homes and property. Something also worth noting is the decline of to total investment dollars reaching its way into the United States. It appears that the latest global central-bank-sponsored asset bubble may be finally popping once again. This will be a particular cause for concern for those wealthy property owners who have bought into [...]

By |2016-07-08T13:15:17+00:00July 8th, 2016|Housing Policy, In the Press, International Real Estate, Real Estate|0 Comments
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New Home Sales Decline To 511,000 Annual Rate In March

The Census Bureau reported that new home sales for March declined to a seasonally adjusted annual rate of 511,000. This was below expectations of 522,000, but higher than March of last year. The median price of a new home contracted in March was $288,000, a YoY decline of $5,400. The average price of a new home contracted in March was $356,200, $3,500 more than March of 2015. New home sales have remained grounded as the Fed's "wealth effect" continues to diminish within the real economy. New home sales are still hovering around 1991 levels, due [...]

By |2019-02-06T01:45:29+00:00April 25th, 2016|Development, Economy, Housing Policy, New Home Sales, Real Estate|0 Comments
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Census: Housing Starts, Permits Decline In March

It appears the 2016 "pent-up demand" story didn't last very long. The Census Bureau just reported that housing starts and permits both fell during March. What is interesting is that single-family starts fell 9.2 percent from revised February numbers, posting at a seasonally-adjusted annual rate of 764,000 units. Single-family authorizations fell 1.2 percent from February figures.  Housing starts and permits are higher year-over-year, but much of the increase in activity is due to lenders "expanding the credit box", not necessarily from increased demand in general. The mortgage industry realizes that many buyers cannot afford today's [...]

By |2019-02-06T01:45:48+00:00April 19th, 2016|Development, Economy, Housing Policy, New Home Sales, Real Estate|0 Comments
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NAR: Existing Home Sales Fizzle In February As Affordability Evaporates

The National Association of Realtors reported that existing home sales fizzled in Februrary, falling to a seasonally adjusted annual rate of 5.08 million. This was a sharp decline from January numbers but 2 percent higher than a year ago. NAR's chief economist, Lawrence Yun, mentioned the stock market, poor weather on the East coast, as well as supply and affordability issues. At least he got one of the four correct! The real problem surrounding the U.S. real estate market is a lack of affordability. Home prices have been levitated back to the previous bubble levels [...]

By |2018-05-13T20:34:47+00:00March 21st, 2016|Existing Home Sales, Housing Policy, Mortgage Rates, Texas Home Prices, Texas Real Estate|2 Comments
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