[Note: This is a longer version of the original, which was posted on AOL Housingwatch a few days ago. I’m crossposting it because Notorious ROB has no space constraints and my readers are used to 2,000 word posts, heh. :)] In Part 1 of this series, where I laid out why I believe the 30-year fixed … Read more
Welcome to the first Carnival of Real Estate Policy. It seems impossible that the real estate blogosphere has gone so long without talking more about government policy given that real estate is a heavily regulated industry, and the more important organization in real estate is a industry lobby group (NAR). But for the most part, … Read more
In my earlier post on the New Normal in real estate, a commenter took issue with my predictions about the future of the 30-year fixed rate mortgage (among other claims). I thought I would expand on that aspect a bit. The specific mechanism that I think will be put in place is a change in … Read more
I’m honored to be asked to give the closing remarks at the Council of MLS conference in Chicago this year at the end of September/early October. Since I’m supposed to be wrapping up the discussions of those few days, I can’t actually prepare anything ahead of time. But I can sort of cheat by putting … Read more
It’s a chilly, rainy day here in New Jersey under iron grey skies. If where you are is sunny, and you’re feeling happy and optimistic, and you want to stay that way, let me strongly suggest that you not finish reading this post. This is where I engage in paranoid fearmongering speculation. You have been … Read more
James Pethokoukis writes on Reuters today (h/t: Instapundit) that the Obama Administration may be planning to eliminate many/most/all underwater mortgages in a single swoop: Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage … Read more
So earlier today, I get an email of some interesting real-estate related links from my friends at AOL Housingwatch (where I pen an occasional column or two). In it, I find this gem of a story: Mortgage loan originators will have to be fingerprinted and sign up to a central registry to do business in … Read more
My friend Matthew Shadbolt alerted me to this editorial by Ken Harney, a columnist for the Washington Post, that was published on The Real Deal. Harney believes that the not-yet-fully-formed Consumer Financial Protection Bureau can’t get here fast enough, and that the days of wine and roses will soon dawn upon us: The financial reform bill … Read more
In part 1, I laid out some hints of what the Obama Administration has in mind for a new federal housing policy that would “reset the rules of the market” and engage in a “fundamental rethink” not just of the mechanics of housing finance, but of the objectives of housing policy themselves. The Treasury now … Read more