The Sick Edition: Sharing Some News Links
When I catch a cold, the flu, or whatever this stuff is that’s making my head feel like it wants to explode, my throat ache, and my ear hurting to the point that I want to mimic Van Gogh, I’m going to share some news links regarding real estate that I hope will entertain, entice, and distract me from my epizooties.
From CNN Money: Foreclosures soar 76% to record 1.35 million
This means that one in 10 borrowers in America are either delinquent or in foreclosure. Many of those troubled borrowers are in California and Florida, which have among the highest delinquency rates in the nation.
From CNN Money: Lower mortgage rates no silver bullet
Reducing mortgage rates to a historically low 4.5% may entice some homebuyers out of the shadows, but it won’t be enough to really spur housing sales, experts said.
From MSNBC.com: Poor economy is nail in RV industry’s tire
Under the gloom of plunging motor home sales and with travel trailers stacking up on lots, recreational vehicle makers and dealers at their national trade show this week tried to lift their spirits by joining in song.
… Sideswiped by the U.S. economic downturn, robust RV sales earlier in the decade have given way to lean times for the industry.
From MSNBC.com: Mortgage applications surge by record
Mortgage applications surged by the largest amount on record last week as a new Federal Reserve program pushed interest rates down to their lowest level in more than 3 years, data from an industry group showed on Wednesday.
Time: Treasury’s plan for mortgage rates could be costly
Some economists question whether just lowering interest rates to a historically low 4.5% will be enough to boost housing sales or prices. What’s more, the plan could end up costing $25 billion a year, using up valuable funds needed to fix the housing market and providing no relief to the millions of homeowners now facing foreclosure.
Me, my aches, and my pains wish you a very happy weekend. See you next week!
