Kevin Roberts was shot multiple times in the torso on Simpson St. This is definitely a metric worth watching very closely over the next year. 38 minutes ago &0183 &32 A 56-year-old man was shot to death on a Bronx street, police said Tuesday.
Nytimes real estate bubble skin#
Now your skin is paying the price and you’re in need of some relief. “That's what happened in early 2006 before the Great Recession hit and the market started falling in 2007. It’s the first day of your beach vacation and you stayed out in the sun a little (or a lot) too long. But if the late 2000s are any guide, quarterly foreclosure caseloads that spike by more than 10% per quarter would be a serious warning bell of danger for the U.S. “(I)t's hard to pinpoint a benchmark for (foreclosure) increases that would cause alarm. “Even when they can't, most can still sell, pay off their outstanding debt and come out with at least a small profit if they bought more than a year ago.” “Having equity in a home provides a lot of motivation for owners to get caught up on their loans and preserve what they've built up,” Barber says. High equity now serves as a cushion for the housing market in case of economic downturn. If homeowner equity sees a massive drop, either home values are dropping fast or there’s an influx of buyers who are putting little money down. If buyer demand completely disappears, it would be a sign of a problem. Housing markets have cooled slightly, but demand hasn’t disappeared, and in many places remains strong largely due to the shortage of homes on the market. That can prolong the housing shortage and draw out the demand-supply imbalance. With the slowdown in buyer activity, homebuilders are pulling back and there are fewer permits for new housing construction. That surely would raise the number of households who fall behind on home loans and send foreclosure numbers upward,” wrote Rob Barber, CEO of market intelligence at real estate data company ATTOM, based in Irvine, California, in an email. “There are predictions of an upcoming recession and possible large-scale layoffs.
If too many people are without work, then distressed home sales climb and foreclosures become more likely. A slight increase in unemployment would be OK, but a bottom fallout could be an indication of danger for the housing market.
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