Gina Garcia: The Homefront

The Wall Street Journal

Over 50 percent of Americans expect home prices to rise

More than half of Americans now expect the country’s home prices to climb within the next year, illustrating a growing optimism toward the health of the housing industry, according to new data from Fannie Mae. Read the full story.

Los Angeles Times

Some homes are slow to sell even in the hottest markets

With full-fledged sellers’ markets underway in dozens of metropolitan areas around the country, new research has found curious statistical patterns emerging: Even in cities where listings get multiple offers within days or hours, significant numbers of homes are sitting on the market for six months, 12 months, or more with no takers. Among the reasons: Mispricing, excessive restrictions on access to buyers and agents, failure to clean or make repairs, and a variety of other marketing bungles.  Read the full story.

The Wall Street Journal
Principal forgiveness could reduce costs for taxpayers
Allowing Fannie Mae and Freddie Mac to reduce loan balances for borrowers who owe more than their homes are worth could ultimately reduce mortgage defaults and save the government money, according to a report by the Congressional Budget Office. Read the full story.