Today’s Real Estate News 6-2-2011

02 Jun

Government intervention in the residential real estate market: Should the US Federal Government be doing something to fix the problems we have, or should they keep to the sidelines and let the market self-correct?  Let me know your thoughts on my blog or on Facebook (

Today’s news that may be of interest to you:

Advocates and Bankers Join to Fight Loan Rules
The New York Times | June 2, 2011
The growing alliance between civil-rights organizations and banking lobbyists could extend beyond the current round of financial rule-making. If Congress turns its focus to restructuring Fannie Mae and Freddie Mac, for example, the same groups could voice similar concerns over anything that restricts the availability of credit for first-time home buyers.

Lower Loan Limits Deadline May Not Boost Housing Prices
HousingWire | June 2, 2011
The Federal Housing Finance Agency is expected to reduce conforming loan limits on mortgages guaranteed by Fannie Mae and Freddie Mac this October. The hopeful anticipation is that demand driven by buyers looking to beat the deadline this summer will also drive up prices, thereby reducing recent dips in home values.

Bad Housing Market Hurting Some People’s Job Prospects
CNBC | June 2, 2011
Here’s a Catch-22 of the weak economy: You finally land that job you need desperately, only to find that you can’t sell your home to move.

CoreLogic Price Index Shows First Monthly Increase Since Mid-2010
DSNews | June 1, 2011
The market has been battered by reports of continuing home price depreciation with both the Clear Capital and S&P/Case-Shiller indices confirming that national readings have fallen below the double-dip mark. But data released Wednesday by CoreLogic provided a flicker of improvement – at least from the short-term view.

Looking Outside of the Home
The Wall Street Journal | June 2, 2011
After years of weak sales, some home builders are starting to look beyond the comfort of their core business.

In Washington, a Housing Thaw
The Wall Street Journal | June 2, 2011
Stable Employment, Fewer Foreclosures Fuel Rare Price Gains in Nation’s Capital

From the National Association of Realtors®:

Married Households No Longer the Majority
For the first time in U.S. history, married households do not make up the majority of U.S. households.

Agent Arrested for Trying to Sell Condos Not for Sale
A Tampa Bay area real estate agent is facing charges for trying to sell 22 condo units that weren’t actually for sale.

Anthony Carollo 2007 EMAIL  


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3 responses to “Today’s Real Estate News 6-2-2011

  1. lee tate

    June 2, 2011 at 9:48 am

    I say keep the government away from regulating the mortgage / housing market. The present governing method only takes away control from free enterprise in whatever they try to help.

  2. pat isbell

    June 2, 2011 at 10:21 am

    intervention is NOT desireable, but some type of support is nearly essential (without goverment guarantees how many of your clients could pay a 20% down payment?) unfortunately even regulation cant prevent the guys at the top from lining their pockets at the expense of the taxpayer. the salaries of the executives at both Fannie & Freddie were substatially in excess of what any government supported enterprise should have been.

  3. Cathy Elmore

    June 2, 2011 at 1:16 pm

    Government intervention or rather lack of controls made this “recession” so much worse than just a cycle.
    Wall Street should be kept out of the Housing Market, betting on people not being able to make a house payment after a toxic loan should be illegal. Smacks of racketeering to me. We took a class in 2004 “Lose Loans” given by a mortgage company! In my RE career there is no way I would sugget a mortage co or bank to someone I knew was not financially ready for home ownership! We as individuals who elect our “government” need to be safeguarded against practices by business or individuals who are only out for their monetary benefit even if it does harm to the economy.
    So a short answer to your question would be “Yes” in case of some instances which are harmful, regulations need to be tightened. Thank you for a great question!


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