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Foreclosures Decline by 29%

Written by Gary North on March 14, 2013

The foreclosure crisis is behind us. That is the opinion of the head of RealtyTrac, which monitors this market. Foreclosures and repossessions are now at the 2007 rate. Banks still hold millions of homes off the market. They have decided not to foreclose. They are going to let people live in their homes, even though […]

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New Homes Sold in the USA: Popped Bubble

Written by Gary North on February 26, 2013

There is a housing recovery in the “sand states,” where the crisis was the worst. But any suggestion that happy days are here again is refuted by the graph from the Federal Reserve Bank of St. Louis. New home sales have barely recovered to the level of the bottom sales in previous recessions. The middle […]

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Bernanke’s Subsidies: Houses and Cars

Written by Gary North on February 25, 2013

“The Federal Reserve has only two policies: inflation and blarney.” — Franklin Sanders What happens when the Federal Reserve promises to create $1 trillion in fiat money per year, and then starts by buying long-term Treasury bonds and Fannie/Freddie bonds? Interest rates go up. Wait a minute. Weren’t interest rates supposed to go down? Yes, […]

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3% Down Payments: The Government Wants Another Housing Bubble

Written by Gary North on February 14, 2013

The government is pushing for loosened rules governing down payments. The idea that a borrower should pay 20% down is anathema. What about 10%? Too high. I think 3% will satisfy legislators. Maybe 5%. But not much over 5%. They want another bubble. Without government subsidies, the housing market would be very different. But voters […]

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New Housing Boom: Duplexes, Triplexes, and Quads

Written by Gary North on February 13, 2013

We have heard the good news. The housing new home market is booming. It is, indeed: for rental units. But what about single-family homes to sell to the middle class? Not so much. Home ownership is lower now than it was in 2007. This means that the construction boom is targeting renters. Why? Because the […]

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Americans Are Tapping into Their Home Equity for Loans.

Written by Gary North on February 12, 2013

Americans are borrowing against home equity once again. These loans were up by almost 20% in 2012. Some of these ignorant people are converting their home mortgages into personal loans. If they live in states where mortgages are non-recourse loans, where the lender cannot come after them if they default, they lose this legal protection […]

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Free Rent: $2.5 Million Home. The Games Banks Play

Written by Gary North on January 25, 2013

So, you want to move up. Well, then: move in. A 23-year-old squatter broke into a $2.5 million empty house. He thereby established rights to it: squatter’s rights. He can be evicted, but only by legal action. The Bank of America knows this. It does nothing. All over the USA, squatters have done this for […]

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How to Make Money in Real Estate

Written by Gary North on January 18, 2013

John Schaub moderates GaryNorth.com’s real estate forum.  I hope you have read one or more of his books. He gives two seminars a year: one in Sarasota, Florida, and one in Costa Mesa, California. The Sarasota seminar begins on January 26. http://johnschaub.com/seminars.cfm If you have ever thought that the best way to become a millionaire […]

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