“Renters Really Prefer Owning, Builder Survey Says,” says the Wall Street Journal. I grabbed that immediately — looked like a good, positive story.
Unfortunately, the survey the story is based on doesn’t really say that.
Sayeth the Journal:
A survey from PulteGroup — one of the nation’s largest home builders — has found a surprising result: Many renters want to buy homes.
As we told you the other day, all the hubbub about shadow inventory — a flood of foreclosures and distressed sales coming down the pike — looks to have been a tempest in a teapot and much ado about nothing. A mountain out of a molehill, if you will.
The Wall Street Journal has a piece, “That New Foreclosure Tsunami? Still Waiting” in which it points out that the fears seem unjustified:
In its March National Foreclosure Report, CoreLogic found that foreclosures dropped 18.8% from March 2011. Even better, foreclosures in the first quarter were down 14.7% from the first quarter of 2011.
“Compared to a year ago, the number of completed foreclosures has slowed,” said Anand Nallathambi, chief executive officer of CoreLogic. “Since the foreclosure inventory is also coming down, this suggests that loan modifications, short sales, deeds-in-lieu are increasingly being used as an alternative to foreclosures to clear distressed assets in our communities.”
A Gallup poll found that 34 percent of Americans consider gold the best long-term investment. Real estate and stocks came in as number 2 and 3, with men preferring real estate and women preferring stocks.
Why gold? Historical reasons.
The First Quarter 2012 Virginia Home Sales Report has been released and brings good news for the Commonwealth! Several long-term trends indicate that Virginia’s housing market is continuing to stabilize.
VRLTA Update with Chip Dicks (Virginia Residential Landlord Tenant Act)
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