Foreclosures Down in 10 of the Hardest-Hit U.S. Home Markets

[mEDITate-OR:
realize that you are going "down"...
and you can't get up.
somewhere, with someone, for reasons you don't understand...
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Cities in Arizona, California, Florida and Nevada accounted for 19 of the top 20 metro foreclosure rates

The Houston, Seattle and Atlanta areas saw the largest increase in the foreclosure rates among the 20 largest U.S. metro areas

The Phoenix-Mesa-Scottsdale area reported 55,372 bank repossessions in 2010, the most of any metro area

-----------    AZ

4

Phoenix-Mesa-Scottsdale, AZ

124,720

7.27

14

-6.79

27.68

26

Prescott, AZ

4,603

4.35

23

0.92

72.53

38

Tucson, AZ

14,480

3.40

29

13.14

60.12

----------    WA

84

Seattle-Tacoma-Bellevue, WA

27,926

1.95

51

22.63

75.55

118		Bremerton-Silverdale, WA		1,437		1.41		71		17.69		40.47
119		Olympia, WA		1,434		1.40		72		10.31		28.49

161

Spokane, WA

1,800

0.91

110

83.86

57.07

172

Yakima, WA

657

0.78

127

12.69

40.38

------------  OR

40

Medford, OR

2,857

3.24

31

5.08

65.82

63

Portland-Vancouver-Beaverton, OR-WA

20,588

2.29

44

2.85

92.70

69

Salem, OR

3,162

2.13

47

1.67

96.40

105

Eugene-Springfield, OR

2,376

1.58

63

10.87

98.33

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Below is  RealtyTrac’s list of the top 25 worst cities for foreclosures this past year:

1. Las Vegas, NV: 1 out of 9 home owners

2. Cape Coral-Fort Meyers, FL: 1 out of 12 home owners

3. Modesto, CA: 1 out of every 14 home owners

4.Phoenix, AZ: 1 out of 14 home owners

5. Miami-Fort Lauderdale, FL: 1 out of 14 home owners

6. Riverside, CA: 1 out of  14 home owners

7. Stockton, CA: 1 out of  14 home owners

8. Merced, CA: 1 out of 14 home owners

9. Orlando, FL: 1 out of 15 home owners

10.Vallejo-Fairfield, CA: 1 out of 16 homeowners

11.Reno, NV: 1 out of 16 homeowners

12. Bakersfield, CA: 1 out of 17 home owners

13. Deltona-Daytona Beach, FL: 1 out of 17 home owners

14. Naples, FL: 1 out of 18 home owners

15. Sacramento, CA: 1 out of 19 home owners

16. Port St. Lucie, FL: 1 out of 19 home owners

17. Tampa-St. Petersburg, FL: 1 out of 20 home owners

18. Lakeland, FL: 1 out 21 home owners

19. Sarasota, FL: 1 out of 19 home owners

20. Boise City, ID: 1 out of 19 home owners

21. Greeley, CO: 1 out of 19 home owners

22. Palm Bay, FL: 1 out of 19 home owners

23. Visalia-Porterville, FL: 1 out of 22 home owners

24. Fresno, CA: 1 out of 22 home owners

25. Atlanta, GA: 1 out of 23 home owners

============

2010 Foreclosure Activity Down in Hardest Hit Markets
But Increases in 72 Percent of Major Metros
Metros with  Top 10 Foreclosure Rates All Post Decreasing Foreclosure Activity
Houston,  Seattle, Atlanta See Biggest Increases Among 20 Largest Metros
http://www.realestatechannel.com/us-markets/residential-real-estate-1/home-foreclosures-foreclosure-rate-realtytrac-bank-foreclosures-top-foreclosure-markets-california-home-foreclosures-florida-home-foreclosures-las-vegas-home-foreclosures-3816.php
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Foreclosures up in most U.S. metro areas
http://www.cbc.ca/consumer/story/2011/01/27/us-foreclosures-increase-report.html#ixzz1CH6KEJzX
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Las Vegas: Still the foreclosure king
http://money.cnn.com/2011/01/27/real_estate/metro_area_foreclosures/index.htm
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2010’s Worst Cities For Foreclosures
http://blogs.forbes.com/morganbrennan/2011/01/26/the-worst-cities-for-foreclosures-in-2010/
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NAR pending home sales rise 2%

[mEDITate-OR:
wonder how NAR got "off"..., so far...?
-----------

JGBHimself
Jan 27 11:16 PM
To make all of U.S. even more dependent upon Sold to explain it, pending sales as reported today by NAR, showed a huge decline in sales of both new and existing homes in The WEST!
--------------
But, look at these numbers:
The PHSI in the Northeast increased 1.8 percent to 73.9 in December
but is 5.3 percent below December 2009.
In the Midwest the index rose 8.0 percent
but is 5.1 percent below a year ago.
Pending home sales in the South jumped 11.5 percent
and are 1.7 percent above December 2009.
In the West the index fell 13.2 percent
and is 10.7 percent below a year ago.
----------------
So, we must assume, must we not, that since today those of U.S. out West and out of pocket for underwater equities are now buying 13% less homes, and yesterday we bought 72% more brand new homes, and 50% of all homes sold were foreclosed, that NO body bought a resident-occupied existing home.
Go figure! Sold! Explain it?
Both the Ying &Yang to Yun & U.S., please.
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==========
NAR pending home sales rise 2%
http://www.housingwire.com/2011/01/27/nar-pending-home-sales-rise-2-trimtabs-expects-slow-recovery
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Pending Home Sales: December 2010
http://seekingalpha.com/article/249166-pending-home-sales-december-2010?source=dashboard_macro-view
=============

CR's analysis of the Financial Crisis Inquiry Commission report

[mEDITate-OR:
or think that media coverage will explain this to you..
--------
when there is a reasoned version from someone who has lived this mess...
and tried to explain it to U.S. as we - you, Jim and U.S. - experienced it.
Must read.
----------
Here is the Financial Crisis Inquiry Commission report
Here are the conclusions.
=========
Financial Crisis Inquiry Commission report
http://www.calculatedriskblog.com/2011/01/financial-crisis-inquiry-commission.html
===========

Think B.I.G.'s analysis of November Case-Shiller Housing Numbers

[mEDITate-OR:
believe that the RE crisis is obviously getting much better...
Tis, of course, the crisis stupid...!
not the turnaround
---------
Since November 2009, only 4 cities are up -- Washington DC, San Diego, Los Angeles, and San Francisco.
Phoenix, Portland, Detroit, Chicago and Atlanta are all down more than 6% year over year.
--------------
While nearly all cities saw some kind of bounce off of their lows last year
many have now double dipped to new lows.
Nine cities hit new multi-year lows in November
including all cities tracked in the southeast portion of the US -- Miami, Tampa, Atlanta and Charlotte.
Chicago, Detroit, Las Vegas, Portland and Seattle are the other five cities that are back to new lows.
---------

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November Case-Shiller Housing Numbers
http://seekingalpha.com/article/249014-november-case-shiller-housing-numbers?source=dashboard_macro-view
==========

New Home Sales Jump 17.5% in December

[mEDITate-OR:
forget that a infinite increase above ground zero...
is still @ ground zero.
---------
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New Home Sales Jump 17.5% in December
http://www.theatlantic.com/business/archive/2011/01/new-home-sales-jump-175-in-december/70279/
===========

Case-Shiller: U.S. Home Prices Keep Weakening as Eight Cities Reach New Lows in November + House Prices and Months-of-Supply, and Real House Prices

[mEDITate-OR:
think that unemployment numbers tell U.S. all we need to know about home prices...
and then Like Ed McMahon, wonder why you are wrong, again, Komodo Dragon breath...

--------
When you compare Detroit, we see unemployment is getting much better, but home prices are getting much worse - very different.
When you compare Las Vegas & Phoenix, we see Nevada getting worse both ways, but while Phoenix's employment is stabilizing, home prices are still dropping a lot.
When we compare Atlanta, Seattle & Portland..., tis, not just, simply ugly.
When we compare Frisco, LA and Diego, we see stable home prices for almost two years, but the 2nd worst unemployment in the U.S. - not getting much better.
---------------
"eight markets – Atlanta, Charlotte, Detroit, Las Vegas, Miami, Portland (OR), Seattle and Tampa – hit their lowest levels since home prices peaked in 2006 and 2007".
-----------
A few key points:
• The real price indexes are at post-bubble lows. Those who argued prices bottomed some time ago are already wrong in real terms, and will probably be wrong in nominal terms soon.

• Don't expect real prices to fall to '98 levels. In many areas - if the population is increasing - house prices increase slightly faster than inflation over time, so there is an upward slope in real prices.

• Real prices are still too high, but they are much closer to the eventual bottom than the top in 2005. This isn't like in 2005 when prices were way out of the normal range.

• Prices will probably fall some more and my forecast is for a decline of 5% to 10% from the October 2010 levels for the national price indexes. We will need to watch inventory (and months-of-supply) closely over the next few months to forecast house prices.

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==========
Case-Shiller: U.S. Home Prices Keep Weakening
as Eight Cities Reach New Lows in November
http://www.calculatedriskblog.com/2011/01/case-shiller-us-home-prices-keep.html
-------
House Prices and Months-of-Supply, and Real House Prices
http://www.calculatedriskblog.com/2011/01/house-prices-and-months-of-supply-and.html
===========

Moody’s/REAL Commercial Property Price Index November 2010

[mEDITate-OR:
think that the commercial RE problems went poof...
The Problem is that they can, suddenly, reappear.
----------------
Once again, both CR and Sold provide U.S. with two very different views of the data.
CR compares commercial with residential.
Sold compares M2M and Y2Y not seasonally adjusted, with The Index with is.
What the M2M chart shows U.S. is how volatile the data is.
What the Y2Y & The Index show U.S. is the trend lines.
What both charts show U.S. is that for more than a year & 1/2 we have been wallowing in the dumps.
True, it isn't getting worse, but it also is NOT getting any better.
------------
However, that might not be totally true:
CoStar reported that CRE prices declined in November
and that the commercial market is bifurcated (even trifurcated)
with trophy properties doing well
but prices for other properties still declining.
--------

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============
Moody’s/REAL Commercial Property Price Index November 2010
http://paper-money.blogspot.com/2010/12/commercial-cataclysm-moodysreal.html
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Moody's: Commercial Real Estate Prices increased 0.6% in November
http://www.calculatedriskblog.com/2011/01/moodys-commercial-real-estate-prices.html
========

State Unemployment Rates: The Decline from Recession Maximum

[mEDITate-OR:
miss how very different these two CR charts are from the media "norm".
--------
What you are given by most media is simply the red line in the 2nd chart.
What CR added to that for U.S. is where you now are compared with where you once were.
Then, at a suggestion, Jim @CR created the 1st chart.
What we NOW see is who is getting better and by how much.
and, who is not.
------------
Michigan is terrible, but getting much better, fast.
Cal & Nev are still terrible, and not getting much better.
Ore is still worse than WA, but it is getting better, faster.
And, Texas is, now, getting worse.
-----------

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=============
State Unemployment Rates: The Decline from Recession Maximum
http://www.calculatedriskblog.com/2011/01/state-unemployment-rates-decline-from.html
------------
State Unemployment Rates, Consumer Confidence
http://www.calculatedriskblog.com/2011/01/misc-state-unemployment-rates-richmond.html
========

Real earnings fall 0.4 percent in December 2010 + Median weekly earnings for men and women in fourth quarter 2010

[mEDITate-OR:

not see that the 1st six months are VERY different than the last...

and

that woemen are still heavily discriminated against.

------------

The Good News is, of course, that like Mexicans they are taking jobs that real men would rather not do...!!!

{that's a joke, don't you see}

------------

These two chart are from TED, which puts one out daily, and a weekly summary.

While the charts are aimed at one set of data, the articles cover more facts/issues.

You, too, can order them each week, and read them. You should, read them.

------------

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Real earnings fall 0.4 percent in December 2010

http://www.bls.gov/opub/ted/2011/ted_20110120.htm

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Median weekly earnings for men and women in fourth quarter 2010
http://www.bls.gov/opub/ted/
============

How the Recession Changed Us - What a difference two years makes.

[mEDITate-OR:
think that things are going right along, normally...
-------------
Well, maybe for you they are.
But for U.S. it would appear, in the Atlantic, that they are not.
---------------
You need to got to the Atlantic article site to see this full size.
Amazing.
-------------

===========
How the Recession Changed Us
- What a difference two years makes.
http://assets.theatlantic.com/static/coma/images/issues/201101/numbers.jpg
==============

Pouring gas on an economic recovery + Gas prices high - and might get higher = Gasoline prices have climbed 14% in the past year.

[mEDITate-OR:
have that sinking feeling....
--------
Not only have gas prices - crude & @ pumps -
but they may go a lot higher, soon
China may cause this, literally, all by themselves.
What that will do to U.S. is not exactly known.
But, if what happened last time is any indication
we are in for real economic trouble.
-------------

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============

Pouring gas on an economic recovery
http://money.cnn.com/2011/01/21/news/economy/thebuzz/index.htm
--------------
Gas prices high - and might get higher
Gasoline prices have climbed 14% in the past year.
http://money.cnn.com/2011/01/21/news/economy/thebuzz/index.htm
--------------
Oil's future is in deepwater drilling
http://money.cnn.com/2011/01/11/news/economy/oil_drilling_deepwater/index.htm?iid=EL
===========

Record Low Housing Completions in 2010

--------

===========
Record Low Housing Completions in 2010
http://www.calculatedriskblog.com/2011/01/record-low-housing-completions-in-2010.html
=========

China: The new landlord of the U.S. + Foreigners bought more U.S. debt in November + Why China matters

[mEDITate-OR:
remember, with fondness
"There's an old adage,"
"If the bank lends you a thousand dollars, the bank owns you.
But if the bank lends you a million dollars, you own the bank."
---------

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-----------
MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES In billions of dollars

HOLDINGS 1/ AT END OF PERIOD
Nov     Oct     Sep     Aug
Country               2010    2010    2010    2010         
------  ------  ------  ------  ------  ------  ------  

China, Mainland       895.6   906.8   883.5   868.4   

Japan                 877.2   875.0   862.1   833.8    
l Exporters 3/        210.4   213.9   221.5   217.8   
United Kingdom 2/     511.8   478.5   459.8   450.3     
Brazil                184.4   177.6   175.6   165.1     
Carib Bnkng Ctrs 4/   146.3   133.8   144.7   159.7      
Taiwan                131.1   131.2   130.0   130.2     
Hong Kong             138.9   139.2   135.9   137.8     
Canada                134.7   124.0   114.3   102.7     
Russia                122.5   131.6   128.5   129.0      
Switzerland           100.6   101.3   103.6   106.6      
Germany                60.4    60.1    59.7    58.7      
Luxembourg             81.0    77.5    85.2    78.0       
Thailand               65.7    66.2    64.0    60.9      
eingapore              59.4    63.6    53.9    52.7     
Ireland                42.6    41.4    44.0    42.0    
Korea, South           41.5    41.1    40.4    41.6      
France                 32.6    36.1    35.1    37.8      
India                  40.7    41.1    41.0    39.0       
Egypt                  34.2    34.9    35.0    33.6     
Mexico                 32.7    34.9    37.0    36.2      
Turkey                 28.9    27.6    27.6    29.5     
Norway                 19.7    18.7    18.8    18.2     
Poland                 24.7    26.3    25.9    24.1      
Italy                  20.9    21.0    21.5    20.9      
Colombia               20.9    17.3    16.8    17.0      
Israel                 20.5    17.9    17.6    16.4     
Belgium                15.7    15.7    16.2    34.3      
Malaysia               11.7    11.6    11.5    11.7     
Netherlands            14.7    14.6    15.7    17.7     
Sweden                 14.1    15.0    14.4    15.7      
Chile                  13.6    13.6    13.2    13.2     
Philippines            13.5    12.9    12.9    13.7     
Denmark                12.8    12.5    13.0    12.9      
Australia              11.1    11.8    14.1    11.7     
All Other             159.7   161.1   163.2   165.8   
Grand Total          4346.8  4307.3  4257.1  4204.7   

Of which:
 For. Official       2824.9  2845.9  2811.0  2763.0  
  Treasury Bills      499.2   531.3   495.4   486.9    
T-Bonds & Notes  2325.7  2314.6  2315.6  2276.1   

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G-20: The new global economy

http://money.cnn.com/news/economy/g20/interactive/

==========

China: The new landlord of the U.S.

http://money.cnn.com/2011/01/18/news/international/thebuzz/index.htm

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Foreigners bought more U.S. debt in November

http://money.cnn.com/2011/01/18/markets/bondcenter/treasuries/index.htm?iid=EL

---------------------------

Why China matters

http://money.cnn.com/2011/01/18/news/international/why_china_matters/index.htm?iid=EL

=========