Wall Street once figured out a way to securitize mortgage payments. That worked out well. Now they have done it again using rent payments. This horse is getting ready to leave the starting gate. Any thoughts on where it will end up? Last time they did not know who owned what. How will they be able to keep up with who pays rent whom? Should be interesting to watch in the coming years. It is not going to be as easy as they think.
News
Chruch Foreclosures Soar And Other Real Estate News
More than a 1/3 of all home sales are now foreclosure sales.
Even churches are now not immune from the real estate crisis.
Investors are buying up all of those foreclosures, because the prices have dropped by half since 2006.
Here is a very smart 14 year old. Where would I be today if I had started investing that early!
Real Estate News This Week
Here is a round up of real estate related news stories I found interesting this week.
- Home sales in Memphis, TN were either up by 8% or 12% for the month of January depending on who you talked to. Either way they were up!
- The foreclosure crisis has decreased home ownership rates across the US. Less homeowners means more renters. The market is waking up to this fact. Keep your eyes open for a possible multi-family price bubble in the future.
- Banks may have finally figured out that short sales are a good way to dispose of some inventory. Perhaps now investors will actually be able to complete short sales!
- Commercial real estate is overbuilt. The times are changing and businesses like Amazon.com are leading the way.
- A quick take on the robo-signing deal. A good deal?
- Now that the robo-signing deal is done, people may not get to live for free anymore and will actually have to pay their mortgages or rents. That may suck as much as $50 billion out of the retail economy.
- Big money is looking to start buying up all those foreclosed single family homes and rent them out.
“The new loan program would likely be only available for deals of $100 million or more.”
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The world’s tallest building is now a distressed property. The folks here called it way back in 2007.
Anything else catch your eye this week? Send me a message and let me know.
