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This study explores price dynamics and price relationships in the US housing market with a focus on four regions: Northeast, Midwest, South, and West. It applies a multivariate state-space model to identify the common trends and common cycles in US regional markets. The study finds that the principal source of secular price variability in the Northeast and West markets is due to two common stochastic trends, while a large share of transitional price variability in the Northeast, West and Midwest originates from three common stochastic cycles. The study estimates the relationships between the common unobserved components and economic variables and finds that unemployment, federal funds rate, corporate default risk, economic expansion, unanticipated inflation in the construction market ar...
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It is undoubtedly the case that, in many of the securities class action lawsuits that investors have filed against financial institutions due to their losses in the wake of the recent financial crisis, plaintiffs will be able to point to statistically significant and substantial price drops associated with firm-specific disclosures of writedowns and losses associated with securities whose value has been negatively impacted, perhaps dramatically so, by the downturn in the real estate market. In Part II, the authors begin by briefly discussing the context in which much of the securities class action litigation against financial institutions is occurring. Part III then discusses in detail why the foreseeability of the housing market downturn is of great importance in assessing the legal so...
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HOUSE COMMITTEE ON FINANCIAL SERVICES, SUBCOMMITTEE ON INSURANCE, HOUSING AND COMMUNITY OPPORTUNITY HOLDS A HEARING ON GOVERNMENT BARRIERS...
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In most OECD countries, house prices have fluctuated around a rising trend since the 1970s. There have been some episodes of falling house prices and sharp falls in house price inflation. These coincided with economic downturns. Most sharp house price falls took place in the periods 1980-1982 and 1989-1992. From the mid-1990s, real house prices rose sharply in many countries. Changes in the unemployment rate are an important factor with respect to the magnitude of both corrections in the housing market and the impact on the real economy. The labor market is a decisive factor for income and expectations regarding future household income. It affects both private consumption and demand in the housing market. Overall, lower interest rates, lower unemployment and more stable economic develop...
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Consumer confidence is one of the biggest problems facing the housing market.
While it is a factor nationwide, local builders are not facing some of the other challenges of their counterparts in other states such as a large number of foreclosures or excess inventory.
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For those of you reading this report who actually are engaged in the regional housing market (realtors, lenders, escrow, title, appraisers, etc.), if you're like me you may have experienced a sleepy summer.
It seems like a lot of prospective homebuyers who had been looking for homes to buy from Jan. 1 through the end of April and middle of May went into hibernation for the summer, especially when compared to last year.
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Greater Salt Lake market housing inventory, which is composed of units under construction, finished vacant units and model homes, continued to decline in the fourth quarter, but the relative supply remained above the level needed for a balanced market, according to Metrostudy, the leading provider of primary and secondary market information to . the housing industry and related industries nationwide.
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HACKENSACK, N.J. -- The housing market, staggering under a slow economy and still paying for the excesses of the boom years, might start to stir to life in 2012.
Experts warn that a real rebound is several years away.
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AUSTIN, Texas, May 29, 2012 /PRNewswire/ -- Despite considerable efforts made from both Democrat and Republican parties to improve the housing market, the price of homes has faced a consistent decline during President Obama's term. However, many states are experiencing improvement in home sales which could majorly affect the results of the upcoming 2012 election. As a leader in Texas real estate, Jim Nyquist weighs in on how these market shifts could determine who our next president will be.
A recent article from Reuters published by The Chicago Tribune indicates a growing opportunity for home owners to sale property for reasonable prices. Many homeowners are already taking advantage of this drastic shift in the housing market and making new purchases as well. In the case of the norther...
