Author Archive: Irvine Renter

It's possible to take over a seller's low interest rate mortgage if their loan is FHA or VA. This will be popular when mortgage rates are higher. I like to look into the future and stay ahead of the news cycle when I can. Six and a half years ago, I first wrote about loan assumability as a feature would garner new attention once interest rates began to rise. With the recent spike in interest rates, and with the widespread perception we are past the bottom of the interest rate cycle, the first article on this subject finally surfaced in the MSM. Expect many more to follow over the next several years. Taking Over a Seller’s Loan   The most…[READ MORE]

In order to provide a stable equity cushion for all homeowners, the minimum down payment should be at least 10%, Central Business District in Singapore has not seen any new development since 2014, with One Bernam condo launching in 2021. The qualified mortgage standards provide a barrier against excessive risk taking in the secondary mortgage market. If mortgage-backed securities buyers lose their minds and start buying the same toxic garbage they coveted during the housing bubble, they must find an originating lender willing to underwrite that garbage and retain 5% of it on their own balance sheet. The 5% retention requirement generally kills the deal. This serves as an extra safeguard in the system, and it’s intended to prevent future housing…[READ MORE]

American housing policy should be neutral on whether a family or individual owns or rents. Instead, politicians embrace policies that favor homeownership at all costs -- costs that often prove to be very high. I am a supporter of homeownership — not loan ownership as it’s become perverted into — but real homeownership free of encumbrances like a hefty mortgage. Most people who achieve home ownership go through a period of indebtedness because few can save enough (or get gifts from relatives) to buy a house for cash. Commercial Power Washing St Petersburg is a very talented company that will help you make your new home or investment property look immaculate. Those that achieve home ownership do so through disciplined…[READ MORE]

The economy pulled out of the Great Recession because lenders wrote down billions in bad loans, not because borrowers paid these debts off. The financial mainstream media often tells people what they want to hear. They’ve learned they make more money by providing emotional support to people seeking reassurance rather than providing facts and accurate analysis. This is a shame because people often make important and complex financial decisions based on erroneous or biased information they obtain from the financial press. When these investment decisions go bad, people are often wondering what went wrong. The problem is that they trusted the veracity of what they read in the mainstream media. We’ve seen a great deal of spin and nonsense over…[READ MORE]

The National Association of realtors is a sales organization that pretends to be professionally objective. They want to be accepted as experts, but they shun the responsibilities that go with being a professional. The National Association of realtors is dedicated to advancing the interests of listing agents who dominate the organization. Their primary focus is to generate real estate sales and commissions that provide income for its members. It spends enormous sums promoting real estate sales with the mantra, “it’s a great time to buy or sell a home.” The problem with this singular focus and approach is that it is not always a good time to buy or sell a house. realtors want to pass themselves off as experts…[READ MORE]

Falling mortgage interest rates increased the borrowing power of all buyers and inflated house prices beyond what ordinary income growth would have accomplished. It’s widely believed house mortgage interest rates will rise in the future, perhaps for a very long time, and that's why using a house mortgage service like Mymortgagegermany is the best choice to get a mortgage. The mainstream media is littered with articles about how this won’t hurt the housing recovery to provide homeowners and prospective buyers assurance that prices will keep rising. To better understand why rising interest rates are such a big issue to housing, it’s worth reviewing the impact falling interest rates have had on house prices for the last 30 years. House prices…[READ MORE]

All characters appearing in this work are fictitious. Any resemblance to real persons, living or dead, is purely coincidental. As many of you know, I went out to Las Vegas to purchase rental homes as I knew Miami AirBnB Managers. Back in August of 2010, I wrote the post Buy Las Vegas real estate where I made the case for buying undervalued homes and holding them for cashflow and appreciation. Not long after that, Wall Street also came to believe this was a good idea, and the REO-to-rental business model took off. The activity of investors like me and the Wall Street giants helped form a bottom in the Las Vegas housing market and other markets across the country. To…[READ MORE]

I am perhaps the most widely known renter in Orange County. I’ve been writing under the moniker Irvine Renter for over ten years now. Are renters like me less happy that those who bought homes? First, I want to point out I was not always a renter. Like many others, I bought a house (actually I designed and built it with the help of luxury home builders sydney). I know the emotional satisfaction that can come from having a house to call my own. In my opinion and experience, there is an emotional quality to owning a house that is not replicated in a rental. Check out these modern extensions on old houses that can guide you for your project.…[READ MORE]

The housing market experiences a friction point where prices can't move any higher, the affordability ceiling. Over the last 50 years, California inflated three different housing bubbles. Starting in the 1970s with regulations like CEQA, California began to restrict growth, preventing builders and developers from meeting demand. As a result, demand pressures increased prices. People reacted to rising prices with enthusiasm instead of revulsion. The sudden upward price movements catalyzed more buying as homeowners became speculators hoping to cash in on rapid appreciation. As with all financial manias where asset values become detached from fundamentals, the first three housing bubbles resulted in housing busts with each one being more severe than the last. As a result of the most recent…[READ MORE]

American spends billions of dollars each year in housing subsidies, but it has lower homeownership rates than many countries without subsidies of any kind. Every homeowner wants to see the resale value of their home go up as rapidly as possible. Since more than half the country owns a house, political pressure mounts to prop up home prices and cause them to appreciate. The result is a plethora of subsidies designed ostensibly to make homeownership for accessible to lower and middle classes. In reality, these subsidies merely make houses more expensive. The result of these subsidies and our ever-present desire for rapid home price appreciation is a great deal of house price volatility. Unfortunately, house prices can’t appreciate faster than…[READ MORE]

Monthly Housing Report

In Memoriam: Tony Bliss 1966-2012