19 mai 2008
Lowe's réduit ses objectifs, le titre baisse
source: La Tribune
ATLANTA (Reuters) - Touché par la crise de l'immobilier aux Etats-Unis, Lowe's, numéro deux américain des magasins de bricolage et d'aménagement intérieur, publie un bénéfice trimestriel en repli de 18% et revoit à la baisse ses prévisions annuelles, des annonces sanctionnées par un net repli de son cours de Bours
18 mai 2008
The Scars of Losing a Home
source: The New-York Times
Auteur: R. Shiller
But we are now seeing the president’s Ownership Society plan operate in reverse. Already, the homeownership rate has fallen — from 69.1 percent in the first quarter of 2005 to 67.8 percent in the first quarter of 2008. That’s almost back to the 67.5 percent level where it stood when Mr. Bush took office in 2001. And it is likely to fall further.
The pain of this reverse movement could leave a psychological scar that will be with all of us for the rest of our lives
15 mai 2008
14 mai 2008
Forte hausse des saisies immobilières aux Etats-Unis
source: L'Express
Sur un an, le nombre de procédures est en hausse de près de 65%. « Le nombre total des logements saisis en avril est le plus haut que nous ayons vu depuis le lancement de l’indice en janvier 2005 », a commenté le PDG de Realty Trac, James Saccacio.
13 mai 2008
Home prices continue sharp descent
source: CNN/Money
Single-family home prices dropped 7.7% in the first quarter in the largest year-over-year decline since the National Association of Realtors began reporting prices in 1982.
The median sales price fell to $196,300, down 4.8% compared with the last three months of 2007.
08 mai 2008
America's housing Home truths
source: The Economist
Given the scale of likely house-price declines and the laxity of lending standards during the bubble, many Americans are in homes that they cannot afford. In these cases, the right answer is to make foreclosure faster and less damaging to everyone else, so that homes can swiftly be bought by people who can pay for them. A useful counterpart to the FHA plan would be a federal effort to streamline the states' convoluted foreclosure laws. You will not be surprised to hear that no politician has supported that.
American housing: Map of misery
source: The Economist
A recent analysis by Morris Davis of the University of Wisconsin-Madison, and Andreas Lehnert and Robert Martin of the Fed, shows that the rent/price yield in America ranged between 5% and 5.5% from 1960 to 1995, but fell rapidly thereafter to reach a historic low of 3.5% at the height of the boom. Given the typical pace of rental growth, Mr Feroli reckons house prices (as measured by the Case-Shiller index) need to fall by 10-15% over the next year and a half for the rent/price yield to return to its historical average. Again, that suggests the national housing bust is only halfway through. And, given the scale of excess supply, house prices are likely to overshoot. All told, the pressure on policymakers to help struggling homeowners is bound to increase.
Immobilier USA : la fin de la crise reportée à 2009
source: Prix Immo
Autant dire que l'on ne se cache plus à parler de récession pour décrire la situation de l'économie américaine. Les précédentes crises du marché immobilier se sont soldées après une période de 27 mois en moyenne. Or, aujourd'hui, la crise du marché américain a dépassé cette échéance, sans qu'aucun signal de fin de crise ne se fasse sentir.
07 mai 2008
It’s Going to Get Worse
source: Newsweek
And the truth is I feel a little sorry for the teasing he has absorbed
since the housing bubble burst. Yes, he did publish a book in 2006 with
the unfortunate title "Why the Real Estate Boom Will Not Bust"—but
he didn't pick the title, the same way columnists like me aren't always
thrilled by the headlines our editors put atop our stories.
His answer: not yet. "We're not at the bottom," he says. "[People] want
it to be near the bottom, but we're not there yet. The leading
indicators are still very bad. Pending home sales are still in bad
shape. Mortgage applications are low … There's still supply out there
in abundance … This thing is going to get worse before it gets better."
Sacré D. Lereah, après Mouillart, c'est la journée.....
Kroszner (Fed): l'augmentation des emprunteurs défaillants est "un problème urgent"
source: Le Point
M. Kroszner a souligné que, dans plus de 40% des cas, les crédits "subprimes" ouverts en 2006 à des emprunteurs à risque représentaient plus de 90% de la valeur du bien aquis. La chute des prix immobiliers, qui dépasse 20% dans nombre de villes, incite souvent les emprunteurs dans cette situation à renoncer purement et simplement à leur maison.