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Rent Or Buy A Home? This Map Has The Answer

Posted on April 19, 2014

rental-rates

Should you rent or buy a home? Depends on where you live. To help make the decision simpler, RealtyTrac crunched the numbers and created an interactive map of the rent/buy fault lines across America, Baltimore has the most advantageous market in the U.S. for home buyers, with a net difference of $1,160 between renting and […]

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Home Prices Reach Peaks in 4 States

Posted on April 1, 2014

home-price-map

Despite harsh weather, home prices in the U.S. held up in February, with four states setting record highs, according to CoreLogic data released Tuesday. Home prices in Colorado, Nebraska, North Dakota and Texas hit peaks, and another 18 states were within 10% of their peak prices (see the above chart from CoreLogic). Factors driving home […]

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Last Week’s Mortgage Applications Were at a 13-Year Low

Written by Gary North on December 26, 2013

A large number of Americans have decided not to borrow to buy a home. Last week, applications fell 6.3%. These figures are seasonally adjusted. This is in response to rising mortgage rates, which began in May. Since then, home sales have begun to fall. Mortgage applications had been rising for 18 months. The Federal Reserve’s […]

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Affordable Housing: Check Your City

Written by Gary North on October 14, 2013

The most affordable city: Akron, Ohio (86%). The least affordable: San Francisco (14%). Most of the most affordable cities are in Ohio. Most of the least affordable cities are in California. How affordable is housing in your city? You can check this easily by using the handy list that is available on another site. Click […]

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QE3 is a Huge Subsidy to the Top 10%.

Written by Gary North on September 26, 2013

The Federal Reserve System’s policy known widely as QE3 is a massive subsidy of the rich at the expense of the middle class. This is the conclusion of Stephen Roach, who for years was chief economist for Morgan Stanley. He calls this policy destabilizing. He says this: the FED “is courting an increasingly treacherous endgame […]

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Milton Friedman: Professor Voucher

Written by Gary North on August 26, 2013

Last week, I wrote an article on federal housing vouchers. I made the point that these vouchers are like all other vouchers: a pseudo-market intrusion of the government into our lives. I made an assumption: the evil side of housing vouchers will be apparent to conservatives in a way that school vouchers are not. Conservatives […]

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Housing Vouchers: Equal Opportunity Crime-Sharing

Written by Gary North on August 23, 2013

The Department of Housing and Urban Development (HUD) has adopted housing vouchers as a way to finance families’ escape from the inner city. The program is described here. It is part of a much larger program. HUD has launched a comprehensive program to move inner-city residents into the suburbs. HUD will do this at taxpayers’ […]

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The FED’s $500 Billion/Year Mortgage Subsidy Has Backfired

Posted on August 22, 2013

WASHINGTON, D.C. (August 21, 2013) — Mortgage applications decreased 4.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 16, 2013. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.6 percent on a seasonally adjusted basis from […]

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Wells Fargo Lays Off Mortgage Workers. Why? Rising Rates.

Posted on August 22, 2013

(RTTNews.com) – Wells Fargo & Co. ( WFC ), the fourth-largest bank in the U.S. by assets, will cut 2,300 mortgage-related jobs across the U.S. as higher interest rates slow down refinancing activity, according to media reports on Wednesday. Wells Fargo has reportedly provided a 60-day layoff notice to 2,300 employees in its home-lending unit […]

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