A report from the International Business Times. "The U.S. mortgage industry has been thrown into turmoil as the impact of the COVID-19 pandemic prompted millions of borrowers to fall behind on their payments. Holden Lewis, mortgage expert at NerdWallet, said…
A weekend topic starting with DS News. "The share of online REO auction properties with competing bidders rose in the wake of the pandemic-induced economic crisis — similar to the trend in the retail market — but buyer competition at…
A report from PB Monthly in California. "The median home price in San Diego County blew past the previous record to hit an all-time high of $634,000 in July. Rich Toscano, a partner at San Diego financial firm Pacific Capital…
A report from The Real Deal on Florida. "The supply of unsold condos is growing in downtown Miami, as the pandemic continues to pummel South Florida’s economy. Greater Downtown Miami has more than 30 months — or two-and-a-half years —…
It's Friday desk clearing time for this blogger. "Mortgage delinquencies showed their sharpest rise in the history of the Mortgage Bankers Association’s delinquency survey. 'There is no way to sugarcoat a 32.9 percent drop in GDP during the second quarter,'…
A report from the South China Morning Post. "Some heavily indebted mainland Chinese owners have been forced to sell their luxury apartments in Hong Kong at huge losses or discounts, as the economic slump at home takes a toll. At…
A report from Arlington Now in Virginia. "The numbers don’t lie, folks. In our Just Reduced world, where just months ago, there were a dozen (at the most) homes with reduced prices each week in Arlington County, we’re now seeing…
A report from Business Insider. "Overall mortgage delinquencies rose a seasonally adjusted 8.22% in the second quarter, according to the MBA. That marked a nine-year high, and a nearly 4% increase from the previous quarter, the largest quarterly jump in…
A report from Reuters. "U.S. home builder confidence rose for a third straight month in August to match its highest level ever as record-low interest rates spur buyer traffic, data showed. But even as home builder confidence surges, more homeowners…
A report from the Pioneer Press in Minnesota. "Taylor Swartwood bought a small apartment building off Rice Street a few years ago for $157,000. He’ll pay $4,500 in total property taxes (city, county, school district and special taxing districts) and…