Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


Economy Watch Thread

Recommended Posts

LOOMING FORECLOSURE CRISIS

 

Quote

The share of loans with payments 90 days to 119 days late quadrupled between May and June, rising to 2.3%, the highest level in more than 21 years

Housing Wire

 

AND, millions of forbearance exemptions are set to expire in September.

 

Share this post


Link to post
Share on other sites

1 hour ago, RVR said:

LOOMING FORECLOSURE CRISIS

 

Housing Wire

 

AND, millions of forbearance exemptions are set to expire in September.

 

Does that data include/exclude those who were given several months "pause" on mortgage payments?

 

I don't expect the reporting to be flexible enough to account for that. Many major banks like Wells Fargo let mortgage holders stop paying for several months.

Share this post


Link to post
Share on other sites
On 9/14/2020 at 12:23 PM, Snowcap said:

Does that data include/exclude those who were given several months "pause" on mortgage payments?

 

I don't expect the reporting to be flexible enough to account for that. Many major banks like Wells Fargo let mortgage holders stop paying for several months.

From what I've seen from other sources, they're included. What's being tracked is mortgage payments not made, whatever the reason.

 

BUT, as I added, millions of those forbearance exemptions expire this month, and the so-called "skinny" legislation recently passed in the Senate did not include any further extensions.

 

It's like lighting the fuse on a bomb, but it's a long fuse.

 

Share this post


Link to post
Share on other sites
Quote

The dip in housing starts and building permits was driven by declines in multifamily construction activity. Multifamily starts fell 25% between July and August, while the number of new permits issued for multifamily buildings dropped 17% month over month.

 

MarketWatch

 

Holy crap.

 

Normally, when it comes to homes, you don't make a comparison to the previous month, but to the same month of the previous year. But this is multifamily, and these are certainly not normal times.

 

Share this post


Link to post
Share on other sites
3 hours ago, RVR said:

 

Holy crap.

 

Normally, when it comes to homes, you don't make a comparison to the previous month, but to the same month of the previous year. But this is multifamily, and these are certainly not normal times.

 

 

Who wants to invest a bunch of money to rent homes to people who think their rent should be free and who can't be evicted?

 

Sure, that's temporary, but landlords who own the currently supply are having a harder time than ever competing with parents' basements.

Share this post


Link to post
Share on other sites
5 hours ago, cv91915 said:

 

Who wants to invest a bunch of money to rent homes to people who think their rent should be free and who can't be evicted?

 

Sure, that's temporary, but landlords who own the currently supply are having a harder time than ever competing with parents' basements.

Damn straight. A few friends are really sweating this out.

Share this post


Link to post
Share on other sites
10 hours ago, cv91915 said:

 

Who wants to invest a bunch of money to rent homes to people who think their rent should be free and who can't be evicted?

In addition to the eviction moratoriums expiring, the new home builders are busy constructing a bunch of houses selling for $850K and up, and with interest rates at historic lows, the wealthy are flush with money and eager to buy.

 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.





  • Member Statistics

    • Total Members
      179,274
    • Most Online
      2,046

    Newest Member
    rabs
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines