Housing Bubble, credit bubble, public planning, land use, zoning and transportation in the exurban environment. Specific criticism of smart growth, neotradtional, forms based, new urbanism and other top down planner schemes to increase urban extent and density. Ventura County, California specific examples.
Tuesday, July 18, 2017
CoreLogic Loan Performance Apr '17
First the good news. Delinquencies are continuing to trend down.
Now the bad news. Delinquencies are continuing to evermore not heal.
If the link works the Full Report is here. CoreLogic is a valuable resource.
I guess the transition rates mean that while a lot of messes have been cleaned up and fewer messes are being made, SOP is becoming more about mailing in the keys when things get bad.
In an environment where even the fairly well-off struggle to build savings after the taxes are extracted, most people just don't have the cushion to deal with a mortgage when they hit a run of bad times. And in an environment of low rates caused by money desperate for yield, I don't know how the lenders can cover the foreclosure costs.
Between the Giant Tick™ and the Financial Repression™ we're lucky that things are not worse than they are at this point.
Gosh we haven't mentioned the Giant Tick™ in a long time.
In addition to mailing in the keys you have to consider the dozen or so three letter acronym diversion programs that keep millions of marginal mortgage notes from getting the dread pre-foreclosure label.
Foreclosure . . The banks never could afford them. Which is why they got so much help. Nor did they have the fainted idea of how to minimize their losses. No by is talking lately of how many houses are still underwater. The signature of unmowed lawns I far less evident here.
Yes, the Senate cannot get the votes and the thing is already compromised into a hot mess. Not fixable. I still say let ACA die without any Republican fingerprints.
Maybe now we can hear the truth about how bad McCain's health is.
The rats leaving the sinking ship. Chicago: \http://www.fiercepharma.com/pharma/takeda-has-moved-hundreds-r-d-vaccine-employees-from-illinois-to-boston-report
I like New York. I am not anti city. Most cities have something to recommend them. Chicago is an exception. The cities Ontario, San Bernardino, Riverside all exist only to house people who might otherwise try to crowd the interesting places.
sm_refugee. Check out today's Ventura County Star. A whopping 24 pages including the classifieds. More than half the "content" filler from USA Today. Dead tree walking.
As expected Kammi Harris is being groomed to be the best of Obama and Hillary. The good news is that she is so obviously a psychopath that in the best case she won't even hold her Senate seat.
Speaking of which. In Dawgifornia no sitting federal elected can run for a different office if they aren't already end of term. IOW you cannot lose and return to fill out the remainder of an existing term.
so the plan seems to be that no one will have health insurance. T says let ACA collapse on itself as the healthy start to opt out and the sick pay every higher premiums. politicians fight and the people suffer.
I see health as a state issue but if the fed is involved they should have a very small and simple part. Obummercare should have never happened as it was a step to total control.
It is no accident. Obamacare was designed like the EU. No way to undo and all fixes lead to more central control. Fixing ACA only gets closer to single payer.
I agree that ACA never should have happened. I wanted the insurance co. cut out of the equation entirely. There is not enough transparency and the market is not free, so market forces don't apply to health care.
The consumer can't shop around, not even the hospitals know what they are charging for the services they provide. Insurance is profit motivated to deny coverage. Proving fraud is impossible.
When my son went into the army, we had to prove he had his shots. Everyone had lost their records so he had to get them again I couldn't get anyone to tell me how much they cost. This was no fancy operation or anything
I remember when they started the on ramp stop lights, the line was so long I took surface streets to SM from CC. Doubled my travel time back in the day, I can't image it today.
The BANK gAve the son a bit of a hard time when he went to qualify (for a rediculous) reason, so I think that they haven't quite forgotten their evil ways. So I think foreclosures will not be a problem problem for 4 or 5 years. We will figure new problems to have.
I gave him and his sister some money, which he didn't need to qualify ( they told him that), but he had to prove it was a gift not a loan. It held up the closing.
You mean you can't go below zero?? How disappointing.
ReplyDeleteThe deficit is not as bad as it could be.
ReplyDeleteCR used to post those yearly bars. Can you do that?
ReplyDeleteYeah, yearly trends a bit later. Things starting to get busy in RealWorld™. Glad I squeezed this 45 mins to talk and put up a new post.
ReplyDeleteI guess the transition rates mean that while a lot of messes have been cleaned up and fewer messes are being made, SOP is becoming more about mailing in the keys when things get bad.
ReplyDeleteIn an environment where even the fairly well-off struggle to build savings after the taxes are extracted, most people just don't have the cushion to deal with a mortgage when they hit a run of bad times. And in an environment of low rates caused by money desperate for yield, I don't know how the lenders can cover the foreclosure costs.
Between the Giant Tick™ and the Financial Repression™ we're lucky that things are not worse than they are at this point.
Gosh we haven't mentioned the Giant Tick™ in a long time.
ReplyDeleteIn addition to mailing in the keys you have to consider the dozen or so three letter acronym diversion programs that keep millions of marginal mortgage notes from getting the dread pre-foreclosure label.
Foreclosure . . The banks never could afford them. Which is why they got so much help. Nor did they have the fainted idea of how to minimize their losses.
ReplyDeleteNo by is talking lately of how many houses are still underwater. The signature of unmowed lawns I far less evident here.
Omg it's hot out there.
ReplyDeleteHealth care bill collapsed??
ReplyDeleteIt is a pleasant 74° but an oppressive 70%rh. Hazy enough to almost obscure the Topa Topa Mountains.
ReplyDeleteBill still thinks he is tracking the trend:
http://www.calculatedriskblog.com/2017/07/black-knight-mortgage-monitor.html
Yes, the Senate cannot get the votes and the thing is already compromised into a hot mess. Not fixable. I still say let ACA die without any Republican fingerprints.
ReplyDeleteMaybe now we can hear the truth about how bad McCain's health is.
I wish McCain were 10 years younger and had run against Hillary instead of Obama.
ReplyDeleteHe did run when he was younger. I like him a lot then.
DeleteThe rats leaving the sinking ship. Chicago:
ReplyDelete\http://www.fiercepharma.com/pharma/takeda-has-moved-hundreds-r-d-vaccine-employees-from-illinois-to-boston-report
Boston is not low tax.
ReplyDeleteEverywhere is better than Chicago. Even Boston.
ReplyDeleteIs tax you only criterium?
ReplyDeleteHow about murder rate as a criteria?
DeleteHow about corruption as a criteria?
DeleteChicago. Taxes. Weather. Attitude. Corruption. Crime. The airport. Not much to like about the city.
ReplyDeleteIt has beautiful buildings
DeleteCriteria is plural. Latin you know.
ReplyDeleteChicago?
ReplyDeletehttp://www.theonion.com/article/city-chicago-working-around-clock-clear-18-inches--54833
http://www.theonion.com/article/environmental-study-finds-air-in-chicago-now-75-bu-36407
Miami are you listening?
ReplyDeletehttps://wattsupwiththat.com/2015/04/25/raising-chicago-how-the-city-of-chicago-defeated-flooding-in-the-1850s/
Global Warming. /Ducks
DeleteOverdrafting.
DeleteNew York is not low tax, neither is Chicago. People like them too.
ReplyDeleteI like New York. I am not anti city. Most cities have something to recommend them. Chicago is an exception. The cities Ontario, San Bernardino, Riverside all exist only to house people who might otherwise try to crowd the interesting places.
ReplyDeleteThe Blues Scene in Chicago in kinda kewl
DeleteJust posted sea level story.
ReplyDeletehttps://wattsupwiththat.com/2017/07/18/sea-level-rise-subsidence-and-hurricanes-oh-my/
I see that Gov Moonbeam got his cap and trade bill framed through. Another straw on the camel.
ReplyDeleteIt's been hours but I picked a few black Cobra peppers and touched my nose. My whole face still hurts. Hot.
Ya... Be glad you didn't go take a whiz
DeleteFirst salsa of the year. Awesome.
ReplyDeletesm_refugee. Check out today's Ventura County Star. A whopping 24 pages including the classifieds. More than half the "content" filler from USA Today. Dead tree walking.
ReplyDeleteAs expected Kammi Harris is being groomed to be the best of Obama and Hillary. The good news is that she is so obviously a psychopath that in the best case she won't even hold her Senate seat.
ReplyDeleteSpeaking of which. In Dawgifornia no sitting federal elected can run for a different office if they aren't already end of term. IOW you cannot lose and return to fill out the remainder of an existing term.
Good Evening!
ReplyDeleteBeen busy looking at acreage and barn properties with a friend and spent the day at the Chemo lounge.
I see no attraction to any big city. The concentration of people ruin any of the qualities they may have.
so the plan seems to be that no one will have health insurance. T says let ACA collapse on itself as the healthy start to opt out and the sick pay every higher premiums. politicians fight and the people suffer.
ReplyDeleteYou misunderstand my position. Cities are for visiting not living.
ReplyDeleteCinco has a barn property. I have a high likelihood of buying a barn property through Tom Stone after the last baby bird flies on its own.
Are you heading to Northern California?
DeleteWe all in this nation need to have a discussion of insurance v wellness v mantainence v prevention v public interest health.
ReplyDeleteI see health as a state issue but if the fed is involved they should have a very small and simple part. Obummercare should have never happened as it was a step to total control.
ReplyDeleteACA -has- to collapse. I'm sorry but we learn from failure far more than accidental success.
ReplyDeleteA possible win for the Rs would be single payer catastrophic health insurance. Any single event over $250k...
DeleteIt is no accident. Obamacare was designed like the EU. No way to undo and all fixes lead to more central control. Fixing ACA only gets closer to single payer.
ReplyDeleteHey! Where's the yelling and screaming and insults?
ReplyDeleteAre y'all ready for the insurance company bailouts when the ACA collapses?
ReplyDeleteIn ready to let uncle Warren swing from the petard of his own making if that's what you mean.
ReplyDeleteAnyone seen the death knell of Hartford Connecticut? Bad insurance flight and losses.
ReplyDeleteOkay. Bad Dawg. You hear a death knell not see one.
ReplyDeleteI agree that ACA never should have happened. I wanted the insurance co. cut out of the equation entirely. There is not enough transparency and the market is not free, so market forces don't apply to health care.
ReplyDeleteThe consumer can't shop around, not even the hospitals know what they are charging for the services they provide. Insurance is profit motivated to deny coverage. Proving fraud is impossible.
ReplyDeleteWhen my son went into the army, we had to prove he had his shots. Everyone had lost their records so he had to get them again
DeleteI couldn't get anyone to tell me how much they cost. This was no fancy operation or anything
Milk can help with pepper string.
ReplyDeleteSting
ReplyDeleteLiz. This is acid burn not milk relief.
ReplyDeleteAloe. Fresh aloe. Don't you grow it?
DeleteWash with soap and water to remove the capsaicin.
DeleteSoCal governments continue to destroy transportation infrastructure, and J6P is starting to push back. Finally.
ReplyDeletehttp://www.latimes.com/local/lanow/la-me-ln-bike-lane-backlash-20170623-story.html
I remember when they started the on ramp stop lights, the line was so long I took surface streets to SM from CC. Doubled my travel time back in the day, I can't image it today.
ReplyDeleteHere they cry traffic if you have to sit through a stoplight. In Miami there are just too many people. Rush hour really all the time.
ReplyDeleteTried to check under water housing. All I found was about flooding. That's bether I guess. Maybe.
ReplyDeleteSearch negative equity
DeleteWill Trump manage to pass nothing? He should try infrastructure
ReplyDeleteThat might pass. Ron Paul will still be against it!
You would still have to put it in the right states, not where it is neededost. Oh,well, we need it everywhere.
ReplyDeleteTrump is teaching Dems to hang together.
ReplyDeletePlanted 2 small plant and finish lant in 1 and I'm exhausted. And it's only in the low 80s
ReplyDeletePlanting
ReplyDeleteThe BANK gAve the son a bit of a hard time when he went to qualify (for a rediculous) reason, so I think that they haven't quite forgotten their evil ways. So I think foreclosures will not be a problem problem for 4 or 5 years. We will figure new problems to have.
ReplyDeleteI gave him and his sister some money, which he didn't need to qualify ( they told him that), but he had to prove it was a gift not a loan. It held up the closing.
ReplyDeleteHey, east coasters wake up.
ReplyDeleteGators. Pythons. Hurricanes. And now sinkholes! Stay away.
ReplyDeleteGood morning!
ReplyDeleteCanceled the trip to the lake this AM, valley full of fog.
Mutual funds slowed down but making progress. Stock poorfolio not doing to well. Plateau before they jump?
Years ago a summer market muddle was normal and expected. I don't know what if anything it means now.
ReplyDeleteUnpredictable change is the new normal.
ReplyDeleteThere still is no normal
ReplyDeleteNo new normal but there is a new post about a new material.
ReplyDelete