What is the Case Shiller Housing Index Saying?

It is ironic that the creator of the Case Shiller Home Index is unable to clearly discern the message that his creation conveys. In interviews, Robert Shiller is often very circumspect when commenting on the future prospects of real estate based on the index that he and Karl Case released to the world in Dec. of 2006. He will frequently talk about “worrying signs” but is unwilling or unable to clearly articulate the high probability message the index he created is signaling.

It would be wrong to take the above observation of Shiller’s behavior as a criticism. I happen to think he is one of the good ones. Most Economists believe in the Efficient Market Hypothesis. That theory is on par with the ancient ritual of bloodletting as a cure for disease.

Dr. Shill

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Green-Upton Bill Passes Out of Energy and Commerce Committee

May 12, 2014 by Texas RealEstateRama Government and Public Real Estate News: Property News, Housing News, Grant News, Mortgage News, Foreclosure News Today, members of the House Energy and Commerce Committee voted to pass an amended version of H.R. 3301, the North American Energy Infrastructure Act authored by Congressman Gene Green (D-TX) and Chairman Fred Upton (R-MI). The bill will create a structural process for the approval of cross-border oil pipelines and electric transmission facilities while protecting the environment, creating jobs and providing businesses certainty.

“H.R. 3301 recognizes the energy revolution taking place on the North American continent and meets the new demands for trade between Canada, Mexico and the United States in an evolving, 21st Century economy,” Green said. “Th

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Top Ten Pitfalls for Homebuyers

1. Don’t be dazzled by new construction. Remember that you’ll pay a premium of about 15-20% for the gleaming newness of kitchen cabinets, countertops, and bathrooms. But like a car leaving the showroom, your brand-new house depreciates fast.

2. Condos. The value of your condo is unlikely to rise as reliably as a single-family home.  You may also be handcuffed to other owners in the complex price-wise, and forced to shell out for high maintenance fees.

3. The importance of a neighborhood. Choose the nicest, most conveniently located neighborhood you can afford.  Consider the reputation of the town school system, even if you will never have a child boarding those yellow buses.  Parents pay more than other home buyers, because they have so much at stake in choosing the place to raise their family.

4. Buying

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Restoring Tucson’s homeownership rate is pilot project’s goal

Tucson was chosen as the pilot city for a community program to help more people become homeowners.

Ready, Set, Own was created to provide potential homebuyers with information and resources they need to start the process of buying a home, says the program™s sponsor, Philadelphia-based private mortgage insurer Radian Guaranty Inc.

Participants will be paired with local credit counselors and mortgage lenders to create a personalized step-by-step plan to purchase a home. Assistance will be provided with the qualification process, credit and debt issues, and with establishing a downpayment savings plan.

So far, local partners of the program ” which will serve as mentors ” include Primavera Foundation, Habitat for Humanity Tucson, Family Housing Resources, Chicanos por la Causa, Nova Home Loans and V.I.P. Mo

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‘Disorderly behavior’ eviction could cause problems

‘Disorderly behavior’ eviction could cause problems  

NORRISTOWN, Penna. – Oct. 3, 2014 – The U.S. Department of Housing and Urban Development (HUD) announced that it reached a Conciliation Agreement with Norristown, Pennsylvania, settling allegations that the municipality violated the Fair Housing Act when it enacted ordinances that held landlords responsible for evicting tenants cited for “disorderly behavior.”

The order included domestic violence incidents, and threatened landlords who didn’t comply with the loss of their rental license.

Norristown’s City Council repealed the original law but passed a similar ordinance the same day that charged landlords mounting fines for tenants that display disruptive behavior.

“It’s discriminatory to deny housing to a woman for violence committed against her,” says Gustavo Velasquez, HUD’s Assistant Secretary for Fair Housing and Equal Opportunity. “To face

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Foxtons shares slump 15% as London property slowdown hits profits

A recent sharp slowdown in the London property market has led to a profit warning from estate agency group Foxtons, sending its shares slumping more than 15%.

The company, known for its aggressive sales tactics and fleet of branded Mini cars, said third quarter turnover was down 3% to £39.3m as property sales commissions fell 7.8%.

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