Updates / Housing

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By / 10.31.2012

Recent gains in home prices in the authoritative S&P Case Shiller Index seem to confirm the growing impression that a housing recovery is underway. While the data is clear that home values are indeed rising, it is unclear, as I have pointed out previously, whether the fundamentals behind the rise (record low interest rates, investor […]

By / 10.11.2012

America’s stricken housing markets appear to have hit bottom, as home prices rise modestly in many areas across the nation. Now is the time to reduce government’s overwhelming dominance of home lending – Washington guarantees more 90 percent of all new home loans – but don’t expect Congress to decide the fate of mortgage giants […]

By / 9.20.2012

In recent months, a slew of new data from several major indices suggests home prices have found a floor nationally and are now slowly rising. While that may be welcome news to homeowners and a real estate industry battered by years of lost equity and sluggish sales, they might want to keep the champagne on […]

By / 8.28.2012

New data from the S&P Case Shiller Home Price Index reinforce the conventional wisdom: home prices have found a bottom and are rising. That is certainly welcome news for beleaguered homeowners, as well as a skittish housing industry desperate for a psychological boost. It should not mean, however, that Washington policy makers can simply sit […]

By / 8.24.2012

Edward DeMarco, the beleaguered chief of the Federal Housing Finance Agency, announced this week that Fannie Mae and Freddie Mac will take steps to accelerate “short sales” to reduce home foreclosures. Short sales allow the owner of a mortgage, in this case Fannie Mae and Freddie Mac, to accept a loan payoff for less than […]

By / 8.15.2012

Even as Mitt Romney basks in praise for his “bold” choice of Rep. Paul Ryan, he’s begun to distance himself from his running mate’s controversial proposals for revamping Medicare and Medicaid. Progressives should also ask Romney what he thinks of another of Ryan’s “bold” ideas: privatizing Fannie Mae and Freddie Mac. Ever since Washington bailed […]

By / 8.3.2012

The Washington Post waded into the principal reduction battle yesterday, endorsing Federal Housing Finance Agency Acting Director Edward DeMarco’s refusal to allow Fannie Mae and Freddie Mac to write down principal balances on delinquent underwater mortgages. The Post editorial endorsed what is a fatally flawed assessment by FHFA of the large potential savings to taxpayers […]

By / 8.1.2012

U.S. Treasury Secretary Tim Geithner has added his voice to the growing chorus calling on U.S. housing regulators to help “underwater” homeowners dig out from under a mountain of negative equity. Geithner fired off a letter yesterday to Edward DeMarco, acting director of the Federal Housing Finance Agency (FHFA), deploring his agency’s continued opposition to […]

By / 7.20.2012

PPI’s monthly look at home values in 16 potential 2012 battleground states–our Battleground Home Values Index, May ’12– confirms values have bottomed, and are now showing price appreciation in the states that will decide the winner of the 2012 Presidential elections. This is welcome news for not only homeowners in battleground states, but for homeowners […]

The Atlantic highlights PPI’s proposal to create “HomeK” accounts for home buyers to aid in the purchase of new homes. The article further suggests that such accounts could replace mortgage interest deductions. The mortgage interest deduction probably isn’t going anywhere soon. Voters are far too fond of it, and politicians are loathe to nix a […]