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emmacarew:

(via Buy vs Rent | The Big Picture)

emmacarew:

(via Buy vs Rent | The Big Picture)

Dec 9
healthycal:

Unfortunately many people working in cities such as Boston, San Francisco, or Los Angeles, cannot afford EITHER to rent or buy. In New York, the average rent is over $3,000 and buying a home would cost $1.5million. In Los Angeles, the average rent is around $2,000 dollars and buying a home would cost nearly $500,000.
Because of raising rents and home values, more and more middle-class and working-class families are forced into the suburbs, far from public transit and services and far from their family and friends.
sunfoundation:
Visualization Explores the Rent vs. Buy Debate
In these challenging financial times one of the key decisions we are  faced with is whether to rent or to buy a house. This appears to be a  particularly resonant issue in the US and now Trulia, an agency focused  on discovering house-hunting trends and insights, have produced a visualization [insights.truliablog.com] to explore this issue across major US cities.  Specifically, they looked to compare the cost of renting against the  cost of buying a two-bedroom apartment, condo or townhouse to see which  option would work out the most expensive

healthycal:

Unfortunately many people working in cities such as Boston, San Francisco, or Los Angeles, cannot afford EITHER to rent or buy. In New York, the average rent is over $3,000 and buying a home would cost $1.5million. In Los Angeles, the average rent is around $2,000 dollars and buying a home would cost nearly $500,000.

Because of raising rents and home values, more and more middle-class and working-class families are forced into the suburbs, far from public transit and services and far from their family and friends.

sunfoundation:

Visualization Explores the Rent vs. Buy Debate

In these challenging financial times one of the key decisions we are faced with is whether to rent or to buy a house. This appears to be a particularly resonant issue in the US and now Trulia, an agency focused on discovering house-hunting trends and insights, have produced a visualization [insights.truliablog.com] to explore this issue across major US cities. Specifically, they looked to compare the cost of renting against the cost of buying a two-bedroom apartment, condo or townhouse to see which option would work out the most expensive

Dec 9

that which is: 20 stats about the US housing market that will make you ill

thatwhichis:

Economic Collapse blog

#1 According to Zillow, 28.4 percent of all single-family homes with a mortgage in the United States are now underwater.

#2 Zillow has also announced that the average price of a home in the U.S. is about 8 percent lower than it was a year ago and that it…

Dec 9
cnbc:

Are There Really Two Housing Markets?
As we head toward the end of the year, for some reason the drumbeat to claim that housing has bottomed is growing louder.
Read more 

cnbc:

Are There Really Two Housing Markets?

As we head toward the end of the year, for some reason the drumbeat to claim that housing has bottomed is growing louder.

Read more 

Dec 9

Commentary: California Attorney General Harris goes after Fannie Mae and Freddie Mac

univisionnews:


California Attorney General Kamala Harris is going after Fannie Mae and Freddie Mac, recently subpoenaing the mortgage giants in order to get a better look at their foreclosure practices. (Getty Images)

By JANIS BOWDLER
Channel: Economics

Last week, California Attorney General Kamala Harris subpoenaed Fannie Mae and Freddie Mac for information on their foreclosure proceedings in her state. While it is too early to say what will come of the subpoena, Harris’ attention to the role of Fannie and Freddie in stemming our foreclosure crisis is a breath of fresh air. 

Fannie, Freddie, and their regulator―the Federal Housing Finance Agency (FHFA), led by Acting Director Ed DeMarco―have refused to implement widely accepted servicing best practices, such as stopping foreclosure proceedings until it can be determined whether a family is eligible for a modification or reducing principal balances. In fact, Fannie and Freddie actually fine banks that do not foreclose on homeowners quickly enough.  

DeMarco’s disregard for home-saving solutions has serious ramifications. Fannie and Freddie own the majority of loans processed by the largest servicers. For example, they are investors in 60% of the loans serviced by Bank of America and in two-thirds of the loans serviced by Wells Fargo. Since Fannie and Freddie own the loans, they dictate the terms on which servicers collect payments, offer modification, and start foreclosures. 

Read More