The Collected Works of Author and Blogger Larry Roberts

Archive for 2015

By increasing borrowing costs for bankers, rising interest rates may force them to foreclose and resolve their non-performing loans. Most borrowers over the last decade used fixed-rate financing, so rising interest rates will not cause their payments to rise and put them at risk of default and foreclosure. That is not how rising interest rates might lead to more foreclosures. We also know that many loan modifications are facing interest rate resets that will increase the cost of ownership of many struggling borrowers. However, these loans will be can-kicked as necessary, so this is not how rising interest rates might lead to more foreclosures. The real reasons rising interest rates could cause more foreclosures is more complicated than that. Rising…[READ MORE]

Home sales generally decline in the fall, but this October saw a larger decline than normal. Was TRID implementation to blame, or high home prices? Lenders don’t set out to inflate housing bubbles. The pressures on lenders to obtain business prompts them to expand loan programs and develop “innovative” loan products in order to keep sales volumes up when prices reach the limit of affordability. Sellers could always rely on lenders to arm borrowers with dangerous loans to finance ever-higher asking prices. That will not be the case in the future. Dodd-Frank regulations installed a rigid ceiling on affordability. Borrowers must document their income, and that income is applied to amortizing loans with a reasonable debt-to-income ratio. Buyers can either…[READ MORE]

The lowest rungs on the housing ladder pay so much for a roof over their heads, they can't live a life. California has a housing problem. Anyone who lives in California copes with higher housing costs than nearly everywhere else in the United States. This problem is a boon to landowners and high wage earners, but it's a bust for lower middle class wage earners who often put 50% of their income toward housing. Why do we have this problem? First and foremost, the problem is one of supply. California has a chronic shortage of housing. The lack of supply is the primary reason prices are so high. When supply is limited, people substitute downward in quality just to obtain…[READ MORE]

A large majority wants to own a house, but only a small minority is actually saving money to meet that objective. The last line of defense for the housing bulls is the fallacy of pent-up demand. Belief in this fallacy relies on people’s inability to distinguish between desire and demand. The financial media frequently entreats us to stories about how home ownership is not dead because surveys proclaim 88% still desire to own a home. The desire for housing always exceeds the supply because there is always some segment of the market who is unable to obtain home ownership due to the cost of housing and a lack of available credit. True demand is the amount of money those with…[READ MORE]

Float Clubs LLC, a California LLC in good standing, filed a DBA and obtained a business license for a new center for REST, restricted environmental stimulation therapy, named Float Carlsbad, at 880 Carlsbad Village Drive, Suite 102 Carlsbad, Calif., December 21, 2016 – Carlsbad is about to get its first float center. Float Clubs LLC filed a DBA with the County of San Diego and obtained a business license in the city of Carlsbad to operate Float Carlsbad. The owner, Larry Roberts, also reported he applied for a tenant improvement building permit on December 19, 2015. “We’re very excited about this new venture,” said Larry Roberts, owner of Float Carlsbad. “We filed for our building permit, and we expect to…[READ MORE]

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