Archive for MichaelWhite
Michael White is the CEO of The New Mortgage Company. He has seventeen years in real estate as lender, owner, and mortgage originator. He has purchased and sold more than 275 properties for his own account, made hundreds of real estate loans for his portfolio, and originated hundreds of mortgages as a broker.
Accelerating Jumbo Mortgage Delinquencies Will Bash High-End Property Values: Part 2 of 6 — Current Market Conditions: It’s Wild and Weird On the Top
To summarize, serious jumbo mortgage delinquencies are 50 percent higher than the overall market. The number of distressed sales in that category has tripled in the last year in the Chicago area; and that trend toward distress is probably true far and wide. It has to be given what we know of the mortgage-delinquency trend. Thirty percent of all foreclosures are top-tier properties and that is a doubling of the rate when compared to three years ago. Our current zeitgeist is a trade-down environment with low-ball appraisals. Government subsidies do not cover most mortgages in expensive-property markets. And values are projected to fall 60 percent for expensive properties from peak to broken-bubble bottom.
19Jun2010 | MichaelWhite | 2 comments | Continued
Accelerating Jumbo Mortgage Delinquencies Will Bash High-End Property Values: Part 1 of 6 – Anecdotes on Inventory
The National Association of Realtors reported a high-end supply of 40 months — or more than SIX TIMES higher than it should be. Charlotte is selling out ten times slower than in better times. Kenilworth Illinois is “extremely oversupplied”. And in Lake Forest power houses are selling, but it takes 20 years to get rid of the thing.
14Jun2010 | MichaelWhite | 2 comments | Continued
Realtors Forecast End of Falling Prices While Inventory For-Sale Approaches Peak Crash Levels
New Observations estimates excess inventory for sale equals 1.4 million units with over 4-million homes on-the-block, a figure hovering just 11 percent below peak-crash inventory, while at the very same time the realtors’ chief economist forecast Monday that “the housing price correction appears essentially over.” A respectable 521,000 units sold in April, yet inventory for […]
25May2010 | MichaelWhite | 0 comments | Continued
One in Ten Mortgage Borrowers Will Lose Their Home To The Bank
New Observations is forecasting that a minimum of one in ten homes with a mortgage today will be lost to foreclosure in the next two years and that this loss represents a staggering five-million-unit addition to inventory-for-sale.
20May2010 | MichaelWhite | 9 comments | Continued
Housing Prices Are Falling Again. We Have a Moral Obligation to Embrace The Trend.
Since I began in August to forecast a continuation of falling values, frequently I met with anger, disbelief, myopia. This week I wanted to take a closer look. So I pulled out one of the best number sets, and applied my crude math in exactly the same way I always do, but I did a close up on five years of data before and after the peak. The result is the chart you see below.
9May2010 | MichaelWhite | 7 comments | Continued
Bring Criminal Charges Against Chief Executives of Leading Originators And Securitizers of Stated-Income Mortgages
The most notorious method for stealing burning squandering money in our real-estate-and-mortgage bubble was something called stated-income loans. The popular term now is liar loans. What does that mean?
23Apr2010 | MichaelWhite | 9 comments | Continued
Thinking of Selling Your Home? The Weight of Evidence Says Get It Done Yesterday.
Key charts to help you understand if now is a good time to buy or sell a home.
16Apr2010 | MichaelWhite | 2 comments | Continued
New Observations Quarterly Forecast of Property Values Estimates a Loss This Year of 13 Percent
The New Observations quarterly forecast of property values estimates a loss in values this year of 13 percent – a slight uptick from the 12% loss forecast at the beginning of the year.
8Apr2010 | MichaelWhite | 0 comments | Continued
Here’s What the Housing Inventory Picture Really Looks Like
This gauge of residential property sales, inventory for sale, and delinquent mortgages is the central location of the financial crisis.
5Apr2010 | MichaelWhite | 11 comments | Continued
New Update of 120-Year Residential Property Series Suggests 22 Percent Nationwide Fall Ahead
The best long-run data series on property values estimates a fall of 22 percent from current values.
5Apr2010 | MichaelWhite | 2 comments | Continued
Implode-O-Meter News- An error has occurred, which probably means the feed is down. Try again later.
- Mortgage Lender Implosions and Updates
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- Bank Implosions and Updates
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- Hedge Fund Implosions and Updates
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- Builder Implosions and Updates
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Further to my comment of 9 August 2016, unlike the old Bank Rate system with its high interest rates, Quantitative…