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Source: CoreLogic

 

• 200,000 more residential properties returned to a state of positive equity during the fourth quarter of 2012;
• 10.4 million, or 21.5 percent of all residential properties with a mortgage, were still in negative equity at the end of the fourth quarter of 2012;
• 38.1 million residential properties with positive equity, 11.3 million have less than 20 percent equity;
• 23.2 percent of all residential properties are under-equitied mortgages;
• $658 billion in aggregate negative equity;
• $323 billion of negative equity are first liens without home equity loans;
• $334 billion first liens with home equity loans.

Category: Digital Media, Real Estate, Think Tank

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

3 Responses to “More Homes Return to Positive Equity”

  1. evernewecon says:

    The whole idea of $trillions in free reserves
    and leveled interest income for everyone
    else is enabling banks to hold collateral
    at inflated valuations, and the Fed’s has been,
    and is, buying massive amounts of same at
    not market value.

    But the underlying mortgages, even if
    value has been transferred from Treasury
    and the Fed above what
    those mortgages might really be worth
    (and now that’s virtually impossible to
    know,) are at least still there in quantity.

    This cuts 2 ways:
    avoiding abuse where the mortgagor really
    should remain in place; also, though,
    holding mortgagors’ feet to the fire, ostensibly
    (but not really) for their benefit, when
    those mortgagors would be far better off
    surrendering (particularly) smaller down
    payment equity value and then going on their
    way in a non-recourse environment.

    No one wants to take losses, but the U.S.
    DOES need reasonable risk taking.

    That brings us to this conclusion as regards
    this column and particularly its title:

    “More Homes Return to Positive Equity.”

    Though TBTF apologists on cable TV
    are good at pretending large numbers of
    distressed properties have gone “poof,”
    the ones suddenly not appearing here

    http://www.zerohedge.com/news/2013-02-14/boomerang-foreclosures-are-back-bernankes-second-housing-bubble-begins-pop
    (it’s impractical presenting evidence for multiple
    regions, but at least Calif’s where a large bulk of
    the mortgage bubble was concentrated, Fl,

    http://www.floridabar.org/DIVCOM/JN/JNNews01.nsf/RSSFeed/7638452EFBECC9FA85257B080048E2B3

    Az, Nv being
    others, though Jurow’s still very bearish on the NE, using
    price per sq. ft., though even that does not reflect
    price dispersion, a subject covered by yourself.)

    really simply fell off the radar owing
    to the stumbling block described.
    Jurow has described a new
    “Mortage Release Program.”
    (Requires Download
    And I Obviously Can’t Make
    Security Assurances, Though I
    Generally Trust Jurow.)
    http://www.keithjurow.com/interviews/

    And why not,
    if the Fed’s transferred value equivalent
    to bubble-value.

    The large numbers of distressed properties
    that were removed from the market as reflected
    there (here it is again:)

    http://www.zerohedge.com/news/2013-02-14/boomerang-foreclosures-are-back-bernankes-second-housing-bubble-begins-pop

    The artificially absent delinquent property
    is equivalent to an artificially absent
    large army of most motivated sellers.

    Will the mortgagees now be more or less
    motivated?

    The question may be irrelevant as the quantity
    impending, with pre-foreclosures already appearing
    in large numbers, represents a supply utterly
    unreflected in the stats forming the basis of that
    title,

    “More Homes Return to Positive Equity.”

    http://muckrack.com/link/VrIu/can-housing-recover-with-zombie-lenders-eisenbeis-will-our-children-pay

    http://us1.irabankratings.com/pub/IRAStory.asp?tag=563

    http://ochousingnews.com/news/must-sell-shadow-inventory-has-morphed-into-cant-sell-cloud-inventory
    http://ochousingnews.com/news/contrary-to-media-spin-mortgage-delinquencies-are-trending-higher
    http://pages.citebite.com/f1n1r8m6s3uyp

    http://caliscreaming.com/2012/10/30/where-is-the-shadow-inventory-right-here/

  2. louis says:

    Thank You Blackrock, now just remember don’t all you landlords try to sell at once ok.

  3. AtlasRocked says:

    Now can we restore mark-to-market? Why or why not?

    Mark-to-market was put in place to force honesty, how will dishonesty help the market?

    If dishonesty is not helping the market, why keep it in place?