Economist: Here's why mortgage supply and demand isn't normal

Economist: Here's why mortgage supply and demand isn't normal

What has recovered or is close to being recovered?

CFPB responds to criticisms of consumer-complaint database program

Bureau answers questions raised by HousingWire, Mercatus and trade groups

Mercatus: CFPB shouldn’t create open consumer-complaint database

Info would be unfair, inaccurate, costly and without statutory authority
W S

REwired

new REwired blog header
Opinion, commentary and analysis on everything that makes the U.S. housing economy tick -- not to mention the ghosts in the machine, too. Written by HW's team of editors and reporters each business day.
The Ticker

Turns out the appraisers were perhaps right

May 24, 2012

A blog in The Wall Street Journal declares: "Negative equity more widespread than previously thought, report says."

And to readers of the Journal, there is a chance this "new" development is a shocker.

After all, in August 2011, the publication declared appraisers were actively lowballing values. Co-author S. Mitra Kalita, who moderated a panel at a Zillow-hosted conference in the downtime, titled the piece: "Judgment call: Appraisals weigh down home sales."

Turns out this is, in fact, what the houses are actually probably worth, based on the fuller view the new Zillow negative equity report provides. Read HousingWire's take on the report here.

HousingWire REthink attendees who listened to William Emmons, an economist with the Federal Reserve Bank of St. Louis,  heard that the underwater situation will get even worse. He estimates a $4 trillion negative equity hole.

Turns out, perhaps the appraisers were right in the first place.

jgaffney@housingwire.com

Comments powered by Disqus