Why strategic defaults benefit the dialog on housing. Strategic defaults moving faster than HAMP modifications. The movement for stronger mortgage requirements.
I know many of you have strong opinions regarding strategic defaults. People have a hard time blending in moral and financial obligations. It really is a fine balance and public discourse gets muddied with emotional arguments to a somewhat obvious economic issue. The housing market has not been normal for over a decade. Even today [...]
Strategic Defaults go Mainstream – Why the strategic default trend shows us the need for larger home buying down payments.
You know something has gone mainstream when it hits 60 Minutes. The latest episode on 60 Minutes discussed the topic of strategic defaults and how 1 out of 5 current foreclosures are actually occurring because people are voluntarily choosing not to pay their mortgage. This is a trend that started last year and has picked [...]
Los Angeles County has 2,205 Homes that are valued at $1 Million or More in Shadow Inventory. MLS Only Lists 32 Foreclosures with a Price Tag of $1 Million or Higher.
Million dollar home sales in the state continue to fall. In 2009 California saw 18,621 homes sell with a price tag of over $1 million. That is a far cry from 2005 when over 54,000 homes sold with a price of $1 million or more. But one thing that is rarely mentioned is this massive [...]