Mortgage Bankers Association

Here are some of the latest information on current housing market in the United States.

National Association of Realtors proudly reported that sales of existing homes rose for the third consecutive month. It 'was at a pace faster than most economic experts have predicted.

According to the U.S. Department of Commerce, new home sales are up 11% in the month of June of the previous month, the biggest increase in 8 years.

Existing and new home sales in June reached its highest levelin eight months.

New home construction is up to 37% from its low last winter.

Very professional company is looking for a way out of Corporate America.

Some years ago I had a situation similar experience. I was close to retirement, but could not afford to retire.

I was completely burned in my business life. I had a successful career in business. I was a Chief Financial Officer of more than 20 years. But I was tired of stress in my work. I was tiredto work for another. I worked 50-80 hours per week tired. I was tired of commuting long. I wanted to Corporate America!

Luckily I had a job back-up plan developed. An on-line, work from home business was a perfect fit for me. I was able to study without having to leave my job. The last time I was able to retire from my job.

It can be other reasons for those who want out of your lane. Most companies are in financial difficulty. Some see a growth in revenues. Remainsliving costs. Many cut labor costs. Many people feel the precariousness of work.

Many business people want to spend more time with their children. When my two sons are grown, I have a difficult time away from work to see a school play or other school activity had. I have a good part of their "growth" years, I would never be able to miss the point.

Do you want to take an afternoon off from work and walk in the park or the beach with youfamily. I've never been able to do so when one has had the job.

You can have more vacation time. Receive only 2 weeks or so with your family is not much. It's actually pretty pathetic if you think you have to work all the other weeks of the year.

Last week, my wife and I decided to drive to North Carolina for my cousin's farm horse. I had my phone and computer, with the intention of doing what works. But for the most part, I only had time to take it easy – hiking in the mountainshelping my cousin has a tendency to horses and only with a good time.

Many business people to pay attention to economic news. This knowledge is useful when a procedure and make personal financial decisions.

I like the study and analysis of U.S. and global economy. Articles that I write my opinion on his status and where we are going. Many times my position is different from the mainstream media and the Obama administration. Mostthe time was right.

You may agree with some of the things I write. I would encourage you to respond with questions or comments.

Not provide the latest figures for the current U.S. housing market shows that we are at a bottom? Here is my take on the housing situation.

Despite the good news on sales growth of the home, there are at least three reasons why a significant increase in the housing market is simply not in the cards.

1. An abundance of homes are stillmarket.
In fact, nearly 10% of homes built in the last ten years sitting vacant. This can be compared with the historical average of 2.2%. There are 10 months of housing inventory is sold than the historical average of less than 4 months.

Moreover, banks put close to 600,000 homes foreclosed, there has not been commercialized.

There are simply too many houses that are too large, which is in the wrong place. Large houses have become a status symbol inYear housing bubble. But not anymore.

According to Deutsche Bank that the number of U.S. mortgages, as the real value of the house passed, will rise to 48% in 2011. First and jumbo loans are big concerns. In 2011, will be the first 41% of borrowers are under water from 16% in the early years. The Bank projects that 46% of jumbo borrowers will be under water in 2011.

Jumbo mortgages are loans that exceed $ 417,000. These bonds are the fastest growing standardrate of the sector. First American Core Logic shows the percentage of 7.4% – 3 times the price in early 2008.

The latest government report shows that the national inventory of homes with a selling price higher to 750,000 $, increases. Obama administration has done little to help the middle class with home loans to purchase a home and mortgage modifications.

But he is back on bigger mortgages have turned. Not one of these programs used on jumbo loans.

2.Many more mortgages reset to interest rates expected over the coming years.
The first group of problem loans were subprime mortgages. Almost 80% of these loans have been written in recent months – a total of 1.47 trillion dollars.

Now we have 2.5 trillion U.S. dollars in Alt-A loans reset. Door that opens in mid-2011, and not peak until the first of 2013. For a small increase in mortgage rates over the coming years will lead to a massive increase in errors andForeclosures result.

Resets to adjustable-rate mortgages will also be a serious problem in the coming years.

3. Foreclosures remain a problem.
In addition to loans next reset, other factors leading to a wave of foreclosures caused. Unemployment rate remains at a high level.

According to the Mortgage Bankers Association, "Looking ahead, it means that you receive the level of default on the loan will not start until fallemployment begins to improve. "They said:" It 'very unlikely that we will see an improvement (in foreclosure rates), only after that. "

"Walk Away" from a house under the water has become quite common.

It 'true that house prices were "more reasonable". But most likely, will house prices were too cheap before you touch bottom.

All these factors have a downward pressure on home prices and sales. PMI Group projectsA 75% probability that the majority of metropolitan areas will continue to see house prices in 2011.