3 reasons why California housing is about to go bust

Here's where expert economists think housing is going

Where will we be in 2019?

Washington is protecting buyers right out of homeownership

BPC Housing Commissioner: Give borrowers a chance to fail
W S
Servicing / The Ticker

Eminent domain survives Richmond City Council opposition

judge 1

In a narrow 4-3 margin, the Richmond City Council rejected a resolution to terminate a contract with Mortgage Resolution Partners, the company that hatched a plan to seize underwater mortgages through eminent domain. Per Contra Costa Times:  

As the columnist Tom Barnidge put it in the article:

The flaws in Richmond's plan are many, beginning with whether eminent domain can even be used this way. Plus, the plan affects a limited number of homes -- barely 3 percent of single-family residences -- and helps no one in foreclosure, while MRP tacks a fee onto each transaction. Then there's the search for lenders to fund new loans at more than 100 percent of value.

This scheme to end the so-called mortgage crisis, championed by bank-hating Mayor Gayle McLaughlin, is rich in intention and short on critical thought.

Read full story

Recent Articles by Brena Swanson

Comments powered by Disqus