News Alerts. Oct. 26, 2013. Afternoon Edition. #RealEstate

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  1. USA’s U3 unemployment rate through 11 recessions | Real-World Economics Review Blog News Alerts. Oct. 26, 2013. Afternoon Edition. #RealEstate

    Amazing chart: “USA’s U3 unemployment rate through 11 recessions”

    The new unemployment numbers (for September) are out and, well, they’re not pretty.

    What did we learn?

    Total nonfarm payroll employment rose by only 148,000 in September, and the official (U3) unemployment rate was little changed at 7.2 percent. And that lack of improvement in the midst of the current “recovery” runs throughout the report…

    Source …

  2. Competition Cools Again as Washington Drama Deters Buyer Interest News Alerts. Oct. 26, 2013. Afternoon Edition. #RealEstate

    Over the next few months, the brokerage [Redfin] expects bidding wars will soften more than usual while the country shakes off the impact of Washington’s shutdown.

    “Congress’ October 16 deal, which funds the government only through December 15 and lifts the debt ceiling through February 7, probably will sustain buyer jitters and leading bidding wars to drop more than they otherwise would during the holiday season,” she [analyst Ellen Haberle] said.

    Source …

  3. REO, mortgage industry veterans form mortgage cooperative to harness collective buying power | Inman News News Alerts. Oct. 26, 2013. Afternoon Edition. #RealEstate

    Prominent veterans of the real estate and mortgage industries have teamed up to form a mortgage cooperative they say will help member companies “level the playing field” with larger lenders and keep up with regulatory requirements.

    The Mortgage Collaborative is designed to help members compete more effectively by using their collective buying power to lower costs for third-party services, such as settlement services and title insurance, and getting better deals when selling loans to an investor in the secondary market, including Fannie Mae and Freddie Mac, or when obtaining warehouse lines, which are lines of credit that mortgage companies use to fund loans at closing and before they receive funds from investors.

    Source …