The Mindblowing Bubble In The "Miami Of China" – Joe Weisenthal – Miami was one of the ground zeroes of the US property bubble, and it seems that the Miami of China — Haikou — is experiencing the same. – Money Game at Business Insider
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It’s “Extend and Pretend” All Over Again for US Banks’ Commercial Real Estate Loans – by James A. Kaplan, Chairman and CEO, Audit Integrity – Research Recap
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Short Sale Fraud Fears Grow as HAFA Gets Set to Pop – by JON PRIOR – HousingWire
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The Short Run Elasticity of Housing Supply – Casey Mulligan – The elasticity of housing supply is the effect on the flow of home building (measured as a log change — think of it as a percentage change) of the inflation-adjusted purchase price of housing (also measured as a log change). … Unfortunately, I have noted before that various housing price indices disagree widely about the magnitude of the housing price boom. … – Supply and Demand, In That Order
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Goldman hired for ResCap sale: sources – By JOSH KOSMAN – … With Goldman hired, it’s increasingly more likely that billionaire Warren Buffett might step up and buy ResCap. Indeed, the Berkshire Hathaway chief owns a sizable chunk of ResCap’s debt and has been interested for months in buying the lender. … – NY Post
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New round of foreclosures threatens housing market – By Renae Merle – … About 5 million to 7 million properties are potentially eligible for foreclosure but have not yet been repossessed and put up for sale. … – Washington Post
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does NOT name names – Mortgage Bonds Make a Comeback – By ANTONY CURRIE and CHRISTOPHER SWANN – NYT Business
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Can flippers save the housing market? – In an attempt to breathe more life into the housing market, HUD is changing an FHA rule that prohibited insuring any home sold in fewer than 90 days. Officials hope the change will help rehabilitate distressed properties faster and raise home values. – By Melinda Fulmer of MSN Real Estate
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FHA Commissioner: Raising the Down Payment Requirement Would Hurt Housing Recovery - by Jann Swanson – Mortgage News Daily
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THE SECOND-MORTGAGE CONUNDRUM – Posted by John Cassidy – (it’s banks vs Frank) 0n The New Yorker Blog
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on getting a mortgage – The Going Gets Tougher – By ELIZABETH A. HARRIS – Some people are able to get mortgages without much trouble, but others find the process arduous, mystifying and prolonged. … “Is it a problem? Yes, it’s a problem,” said Dottie Herman, the president of Prudential Douglas Elliman. “When these things fall through, it’s not because people are destitute — they have good incomes. It’s because banks are very, very tough now.” … – NY Times
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"Cash for Keys" the Latest Technique for Homeowners Underwater – In cases of "cash for keys," a mortgage lender may make a cash offer to a homeowner, absolving the owner of any debt. Also, at the same time, it eliminates any black mark that might be applied to someone over a foreclosure. – more details – HULIQ.com