The Collected Works of Author and Blogger Larry Roberts

Archive for January, 2014

Watch this video, and witness for yourself the expertise and professionalism of the Akason Realty Consultants Team. Seeing is believing. This house sold quickly for above asking price, largely due to this video. If you're thinking about selling, you want a video like that for your home, don't you? Akason Realty Consultants is a team of seasoned professionals expert in advertising, marketing, and sales. Together with OC Housing News, Akason Realty Consultants is a powerful real estate technology company connecting buyers and sellers by utilizing state-of-the-art marketing tools and methods. Put the Akason Realty Consultant team to work for you today! Shevy Akason - Evergreen Realty - ARC Group Name Email Phone So what will the Akason Realty Consultant team…[READ MORE]

The Fed annouced a couple of weeks ago that the Fed would taper it's asset purchases by $10 billion per month.  That's nice.   According to the above chart, and I have no particular reason to doubt it, Chinese holdings of US treasuries have increased by $134 billion in the past year.  If the Fed does decrease it's treasury buying by $5 billion per month, then it would seem like the Chinese have enough interest in US treasuries that the Chinese could buy the $60 billion per year that the Fed would not be buying.  But, then who would buy the $60 billion that the Chinese bought last year?  What if the Fed increases it's tapering to $20 billion per month…[READ MORE]

By claiming adverse possession, delinquent mortgage squatters may be able to rescind a lender's right to foreclose if the borrower made no payments for five years, paid their taxes, and failed to respond to any lender loan modification offers, and the lender issued no Notice of Default. When Richmond, California, announced a plan to seize underwater mortgages, the parties holding those mortgages not surprisingly freaked out. Five years ago, enabled by mark-to-model accounting, lenders embarked on a strategy of loan modification can-kicking to delay or avoid recognizing losses on bad loans. Lenders planned to remove the distressed inventory from the market, allow house prices to rebound to improve their capital recovery, then resolve their bad bubble-era loans. Their plan works…[READ MORE]

Whatever you believe about the morality of strategic default or the desirability of punishing them to prevent moral hazard, the practical problems of identifying and pursuing strategic defaulters makes the task too costly and difficult to be effective. I first began writing about strategic default back in 2008 in the post Should you walk away from home debt?. Many people faced a cost of ownership greatly exceeding the cost of a comparable rental, and with declining prices, they were sinking underwater and had no realistic hope of future equity; therefore, on a purely financial basis, borrowers who strategically defaulted were wise because the shortest path to equity was to walk away from the huge debt, save money, and wait until…[READ MORE]

San Francisco is the most overvalued housing market in the United States; however, the conditions necessary to cause a catastrophic house price decline are absent, and it seems unlikely house prices will crash. I have a challenge for housing bears: outline a realistic scenario where prices crash from here. I'm an old housing bear; I would be happy to carefully and loudly pontificate on an upcoming market crash, but I simply can't come up with a realistic scenario whereby it occurs. Sure, there are implausible scenarios, mass investor exodus, suicidal lender policy changes, sudden interest rate spike to 7%+, but nothing that seems very likely -- or possible at all. The premise of the original housing market collapse went something…[READ MORE]

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