Apr 252016
 
OCHN: Why aren't homebuilders producing more homes?

Homebuilders won’t build what they can’t sell, and household formation isn’t so robust that builders must provide more to keep pace with demand.

Since 2012 the financial media chronicled the reflation of the old housing bubble but portrayed it falsely as a robust recovery… – Why aren’t homebuilders producing more homes?


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Apr 232016
 
OCHN: San Bernardino County Housing Market Report: April 2016

IRVINE, Calif., January 2, 2016 – OC Housing News
San Bernardino County Housing Market Report: January 2016
Historically, properties in this market sell at a 25.7% discount. Today’s discount is 32.2%. This market is 6.6% undervalued.
Median home price is $280,200 with a rental parity value … – San Bernardino County Housing Market Report: April 2016


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Apr 222016
 
OCHN: How "sophisticated" financial managers operate personal Ponzi schemes

In its simplest form, a personal Ponzi scheme is borrowing money to pay debt service: acquiring new debt to pay old debt. It’s a path to disaster.

What is a personal Ponzi scheme? Aren’t Ponzi schemes the advanced financial management crime of sophisticated money managers like… – How “sophisticated” financial managers operate personal Ponzi schemes


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Apr 212016
 
OCHN: Two strategies for more abundant and less expensive housing

By reducing local regulatory hurdles to new development, and by providing subsidies to low-income Americans, the free market will provide more housing that will drive down costs for everyone.

Housing costs too much in the United States because we don’t provide enough housing to meet… – Two strategies for more abundant and less expensive housing


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Apr 202016
 
OCHN: Could you live in a less than 300 square feet?

The tiny house movement is the extreme of housing and possession austerity. Would anyone with the means to live with more chose to live that way?

When builders and developers create new projects, they generally produce a variety of floorplans to meet a market niche where they can reasonably… – Could you live in a less than 300 square feet?


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Apr 192016
 
OCHN: Home mortgage interest deduction no longer benefits anyone

Only high wage earners save on taxes due to the home mortgage interest deduction, and the benefit is lost due to higher house prices paid be everyone utilizing this tax subsidy.

Does the home mortgage interest deduction serve any useful purpose? Usually, when the government subsidizes… – Home mortgage interest deduction no longer benefits anyone


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Apr 182016
 
OCHN: What four factors really determine prices in the housing market?

There are four fundamentals that determine resale value: borrower income, allowable debt-to-income ratios, interest rates, and down payment requirements.

When economists write about the fundamentals of housing, they usually mention job and wage growth, both of which impact sales (of special… – What four factors really determine prices in the housing market?


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Apr 152016
 
OCHN: Real estate investors are NOT crowding out family homebuyers

The National Association of realtors perpetuates the myth that investors are scooping up family homes and leaving potential buyers out in the cold.

Many investors use the OC Housing News to search for properties because it provides a detailed investment analysis of every home available for sale… – Real estate investors are NOT crowding out family homebuyers


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Apr 142016
 
OCHN: A decade ago, housing bulls were completely and catastrophically wrong

Back in 2006 the housing bulls weren’t just a little wrong. They were completely and totally and unequivocally incorrect in every way.

I recently had a conversation with a CEO of a large housing market forecasting company. In our conversation, I told him about my experience as a housing… – A decade ago, housing bulls were completely and catastrophically wrong


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Apr 132016
 
OCHN: Today's homebuyers unwilling to climb the property ladder like previous generations

People shopping for houses today are unwilling to purchase substandard housing in hopes of trading up at some later date.

Houses are expensive. Many renters would like to buy a house, but they lack the down payment necessary, and many renters are early in their careers when their income… – Today’s homebuyers unwilling to climb the property ladder like previous generations


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Apr 122016
 
OCHN: Big banks are too big to innovate

If an institution is too big to fail, then it must not be allowed to take innovative risks because the potential consequences for the economy are dire.

Innovation entails risk. Any profitable business venture that is widely known to be successful is rife with competitors, so profit margins… – Big banks are too big to innovate


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Apr 082016
 
OCHN: Californian's share zealous faith in rapid home price appreciation

California has a major cultural “religion” that cuts across traditional denominational lines: the religion of real estate and faith in rapid home price appreciation.

Religious conviction provides meaning, hope, and joy to billions of people. Faith is belief by choice, generally in the absence of… – Californian’s share zealous faith in rapid home price appreciation


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Apr 062016
 
OCHN: What happens to high-end real estate if money laundering stops?

The Panama Papers uncovered the money laundering schemes funneling millions into high-end real state. What happens to this market if the flow of illegal funds suddenly stops?

New York city is flooded with Russian cash.
Irvine, California, is flooded with Chinese cash.
Miami, Florida, is flooded… – What happens to high-end real estate if money laundering stops?


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Apr 052016
 
OCHN: Are Chinese savers coerced into supporting a real estate Ponzi scheme?

By eliminating other alternatives for investing saving and encouraging real estate speculation, the Chinese government compels its citizens to sustain a Ponzi scheme, allocating resources where they are not needed.

People fuel financial manias with greed and foolish optimism. Generally, prices… – Are Chinese savers coerced into supporting a real estate Ponzi scheme?


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Apr 042016
 
OCHN: The epic fail of boomerang homebuyers

2015 was touted as the year of the boomerang buyer. Lenders and realtors prepared, and the financial media wrote the invitations, but the boomerang buyers failed to arrive.

The financial media periodically runs stories about the return of boomerang buyers, those who lost their homes in… – The epic fail of boomerang homebuyers


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Apr 012016
 
OCHN: Five most common lies realtors tell

realtors frequently lie to their clients to close deals and generate commissions, placing their needs and desires above their clients.

Every word she writes is a lie, including “and” and “the.” Mary McCarthy

When a realtor talks, do you believe a word of it? At some… – Five most common lies realtors tell


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Mar 312016
 
OCHN: Homeowners deduct cheap consumer debt interest while renters pay higher rates

Homeowners convert consumer debt into tax-deductible debt through home equity lines of credit. Since this debt is secured by real estate, homeowners also pay much less for it.

HELOCs are making a comeback! This is great news for Ponzis who want free money from stupid lenders, but it’s a… – Homeowners deduct cheap consumer debt interest while renters pay higher rates


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Mar 302016
 
OCHN: How to earn huge profits on distressed residential properties

Buying distressed residential properties, fixing them up, and holding them through the recovery is a great way to earn huge profits.

I am a big fan of buy-and-hold residential real estate, but that isn’t the only way to make money from this asset class. Home flipping is one extreme, and… – How to earn huge profits on distressed residential properties


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Mar 292016
 
OCHN: Academics prove the desire for free money causes financial manias

Financial bubbles are real. A recent academic study proves people change their behavior when they witness their neighbors making money with little effort.

Everyone wants free money. A new academic paper provides strong evidence that the desire to obtain free money drives the insane behavior in… – Academics prove the desire for free money causes financial manias


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Mar 282016
 
OCHN: Policies that saved the banks deny homeownership to Millennials

By saddling Millennials with copious amounts of student loan debt and by trapping Generation X in overpriced starter homes, Millennials endure too much debt and too little available supply to become homeowners.

The largest generation in American history is not buying homes, and it’s… – Policies that saved the banks deny homeownership to Millennials


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