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Bullish for RE?

Started by se10024
over 15 years ago
Posts: 314
Member since: Apr 2009
Discussion about
WASHINGTON, D.C. (September 15, 2010) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending September 10, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 8.9 percent on a seasonally adjusted basis from one week earlier. This week's results include an adjustment to account for the Labor Day holiday. On an unadjusted basis, the Index decreased 27.4 percent compared with the previous week.
Response by front_porch
over 15 years ago
Posts: 5316
Member since: Mar 2008

fewer mortgage loan apps = fewer buyers. This is a bearish indicator, not a bullish one.

ali r.
DG Neary Realty

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Response by se10024
over 15 years ago
Posts: 314
Member since: Apr 2009

poor attempt at humor... Was looking for a spin from another side of the debate :)

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Response by pulaski
over 15 years ago
Posts: 824
Member since: Mar 2009

Bearish:

"Home Prices Just Dropped In Most States And 8 Million Foreclosures Are About To Hit The Market"

"The small upward correction in home prices from multiple tax credit offerings died in July. Worse yet, inventory of homes for sale as well as shadow inventory both soared. 8 million foreclosure-bound homes have yet to hit the market according to Morgan Stanley."

http://www.businessinsider.com/home-prices-just-dropped-in-most-states-and-8-million-foreclosures-are-about-to-hit-the-market-2010-9

Bullish:
"Excluding distressed sales, the top five states with the highest appreciation were: South Dakota (+5.1 percent), District of Columbia (+4.9 percent), New York (+3.4 percent), Mississippi (+2.8 percent), and California (+2.8 percent)."

http://www.corelogic.com/uploadedFiles/Pages/About_Us/ResearchTrends/CoreLogic%20July%20HPI%20913.pdf

Woot, go NY, go NY, go! Or something.

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Response by se10024
over 15 years ago
Posts: 314
Member since: Apr 2009

yep, and CA +2.8%, no issues in that state either. Or is it that all the problems have already been discounted?

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