Kramer Stirs the Advocates Pot

By Jeff Adolph Special Interest Young and old journalists at the National Lesbian and gay Journalists Association convention were quietly asking who the distinguished gentleman was, as a hushed silence overcame the room. 'Larry Kramer', someone whispered. 'The renowned AIDS...

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[Source: GayRealEstate USA]

Methodists Reject LGBT Marriage

By Jeff Adolph LGBT Marriage A dispute over gay civil ceremonies being held in a Methodist Boardwalk Pavilion, in Ocean Grove NJ, has seen the facility lose its tax-exempt status, as the site was deemed unavailable to all members of...

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[Source: GayRealEstate USA]

Chicago Draws Gay Buyers

By Jeff Adolph LGBT Real Estate Believe it or not Chicago is becoming a region that attracts LGBT buyers from across the nation and this trend is increasing. The 10 most significant reasons being - Chicago represents value for money...

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[Source: GayRealEstate USA]

Austin Ranches and Value

By Jeff Adolph Real Estate Investment Blessed is the ranch lifestyle some say; whether you're a land-lover or just crave the great outdoors and fresh clean living there are some great areas within Texas that represent value for money. Central...

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[Source: GayRealEstate USA]

Memories of a Realtor

By Jeff Adolph Special Interest Lee Cuningham, a long-since retired Realtor recalls a portion of her life as a real estate agent, as she sits outside her Crystal Bay Cove condominium surrounded by the beautiful cats that she now breeds....

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[Source: GayRealEstate USA]

Gay City Planner was an Inspiration for LGBT

By Jeff Adolph Special Interest Gay city planner and developer, John Voorhees (pictured left) was an inspiration to all and an advocate for the gay community. Apart from planning subdivisions with common areas for homeowners to share Voorhees also aided...

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[Source: GayRealEstate USA]

Fire Island Represents Sound Investment

By Jeff Adolph Real Estate Investment Prices on Fire Island are up by 12-18% compared with September 2006 rates and set to continue rising. Ron Blum, 58, a Realtor and his partner Steve Rosen, 48, a public relations executive enjoy...

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[Source: GayRealEstate USA]

Life After Katrina - Rebuilding

By Jeff Adolph Special Interest On August the 28th 2005 Hurricane Katrina forced many people like Jason Toups and four other gay men out of the area to change their lives forever. Two years on, Toups resides in Atlanta despite...

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[Source: GayRealEstate USA]

Kansas Foreclosures are Rising

By Jeff Adolph Real Estate Market A foreclosure lawyer with over 30 years experience is noticing that he is becoming exceedingly more busy as the year progresses, and that the rate of business is rising. Eldon Gay, Topeka lawyer said,...

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[Source: GayRealEstate USA]

Time for Change

By Jeff Adolph Special Interest After 13 years of residing in a high-rise condo some 15 floors up even die-hard urban dwellers like Jon Kaplan and Joel Pearson (pictured left) crave sunlight and greenery. 'The outdoor space didn't have to...

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[Source: GayRealEstate USA]

Greater Fort Lauderdale is a Gay-mecca

By Jeff Adolph Gay Vacations Once known as a haven for students during the 60's - 80's, Greater Fort Lauderdale is becoming a haven for the sophisticated, the hip and the savvy with a multitude of gay and lesbian travelers...

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[Source: GayRealEstate USA]

Great Lakes Marina Re-development Tipped to Bring Economic Growth

By Jeff Adolph Economic Growth Muskegon, a gay-friendly region in Michigan has a significant development announcement to make one that could possibly see the regions economy boosted. In fact, the proposed expansion of the current Great lakes Marina may just...

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[Source: GayRealEstate USA]

Mortgage Crisis Forcing Borrowers to be Realistic

By Jeff Adolph Lending Matters With the mortgage crisis forcing some high-profile lenders out of business it seems homebuyers have since re-thought their borrowing situation and made way for the traditional lenders of old to return as hot favorites. Tuck...

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[Source: GayRealEstate USA]

Gay Life and Home Show

By Jeff Adolph Special Interest This Saturday, September the 15th marks the opening of the third annual Gay Life and Home Show, which will present 150 gay and gay-friendly exhibitors. The show held at the Washington convention center is the...

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[Source: GayRealEstate USA]

Commercial Market Showing Signs of Softness

By Jeff Adolph Commercial Developments South West Florida's housing market collapse may begin to affect the strong commercial construction industry in the region. This is attributed to the aftermath of a national credit crisis that will see lenders cut funding...

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[Source: GayRealEstate USA]

The Very Rev. Tracey Lind

By Jeff Adolph News in BriefThe Episcopal Church, which recently divided after the 2003 election of an openly gay Bishop in New Hampshire is now considering a Lesbian priest as the next Episcopal Bishop of Chicago. At present, there are...

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[Source: GayRealEstate USA]

September 11 Memorial

By Jeff Adolph To those Precious Souls who have Passed - those who Survived will not Forget. Rest in Peace our Brave Fellow Americans... --------------------------------------------------------- *RealQuestions RealAnswers* Click on Comments below and share your thoughts and opinions, ask a real...

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[Source: GayRealEstate USA]

New LGBT Community Near Rehoboth Bay

By Jeff Adolph New LGBT Developments Rehoboth Bay and downtown Rehoboth look set to have a 32 villa complex devoted entirely to same-sex couples situated nearby. The complex named 'The Villas at Harmon Bay' are the development of Kim Hamer,...

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[Source: GayRealEstate USA]

City-Owned Parking Lots to be Developed

By Jeff Adolph LGBT Developments Two city-owned parking lots in Castro may become homes for HIV and AIDS sufferers if AIDS housing advocates get their concept approved (one of which is pictured left during a pride festival). The parking lots,...

Read More...

[Source: GayRealEstate USA]

How to Pay Off Your Mortgage Faster

By Jeff AdolphAsk a RealtorThe demise of the mortgage industry is the news of the year. Exotic loans, predatory lending practices, high-flying investors buying risky mortgage securities, and the plight of homeowners faced with mounting monthly payments are just a...

Read More...

[Source: GayRealEstate USA]

Robert Niebauer Update

By Jeff Adolph Foreclosures In November of 2006 I reported on Developer and Architect, Robert Niebauer's misfortune, which saw his reputation tarnished with a multitude of residential retirement projects left incomplete and abandoned. Reader and Wisconsin real estate agent, Rob...

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[Source: GayRealEstate USA]

DIY: Raised Garden Bed - Concrete

By Jeff Adolph Gardening and Landscaping The raised garden bed creates an interesting dimension to any garden and allows you to add a feature boarder to highlight your garden area and compliment your home. While concrete sounds a little boring...

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[Source: GayRealEstate USA]

Gay Doctors in Orlando are Rare

By Jeff Adolph Special Interest Orlando is a city that has a rather profound gay population and yet when it comes to finding a gay doctor here it seems they are few and far between. Jordan a 39 year-old real...

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[Source: GayRealEstate USA]

Foreclosures Defined

By Jeff Adolph Real Estate Guide The foreclosure is often seen as one individual's loss and another's gain. Where the seller is often the person loosing out and the buyer is seen as the fortunate one. Therefore, the foreclosure can...

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[Source: GayRealEstate USA]

The Best and Worst Professions to be in...

By Jeff Adolph LGBT Professions Author Dan Woog who has been exploring the struggles of gay athletes and teachers has since decided to look more critically at Gays and Lesbians within the workforce and uncover just what professions are considered...

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[Source: GayRealEstate USA]

Special Tips for Selling Your Home During the Challenging 2007 Market

By Jeff Adolph Ask a Realtor For those trying to sell a home this summer, the real estate climate can feel unseasonably chilly. Truth be told, this is one of the most difficult selling environments in recent history, so if...

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[Source: GayRealEstate USA]

Pending Home Sales: July 2007

Today, the National Association of Realtors (NAR) released their Pending Home Sales Report for July 2007 showing a truly stark and horrendous continuation of the historic decline to residential housing on a month-to-month and year-over-year basis, both nationally and in every region.

There is simply no doubt that these forward looking results are predicting a substantial new leg down to demand and inevitably prices.

Additionally, the Northeast, Midwest, West and the National regions have now fallen WELL BELOW 100 indicating that, seasonally adjusted, Julys home sales activity was below the average activity recorded in 2001, the first year Pending Home Sales were tracked.

As usual, NARs Chief Economist, Laurence Yun takes another crack at false optimism pointing the finger at Jumbo loans and insinuating that drop-off in demand is temporary.

These temporary problems are primarily with jumbo loans, and there are continuing issues for subprime borrowers, but there are no serious problems for the majority of buyers who qualify for conventional financing or FHA-insured loans. Some consumer concerns remain, but since mid-August the market has been stabilizing somewhat.

If lenders focus on the essentials of creditworthiness and adjusted valuations based on comparable sales, and ignore speculation on what might happen in the future, broader stabilization will come sooner rather than later,

The following chart shows the national Pending Homes Sales Index since 2005 compared monthly. Notice that each year, the months value is decreasing consistently (click for larger version).

The following chart shows the year-over-year changes to the national Pending Home Sales index as well as comparing the latest results against the values seen in the peak year of 2005 (click for larger version).

The following chart shows the pending home sales index nationally and for each region tracked (click for larger version).

Note that in the above charts, I had to use the Not Seasonally Adjusted (NSA) data series as NAR changed the methodology for their Seasonally Adjusted (SA) series a while back and never republished the numbers. This is why none of the data appears to be breaking below a value of 100 because its the SA series that is now below 100.

Keep in mind the current pending sales decline comes ON TOP of last years historic fall-off so the continued weakness is a sure sign that the decline is not ephemeral.

Look at the July seasonally adjusted pending home sales results and draw your own conclusion:

• Nationally the index was down 16.1% as compared to July 2006.
• The Northeast region was down 10.0% as compared to July 2006.
• The West region was down 21.8% as compared to July 2006.
• The Midwest region was down 15.8% as compared to July 2006.
• The South region was down 15.2% as compared to July 2006.

So it appears that, year-over-year, contract activity is still dropping rather sharply with ALL regions continuing to show significant declines.

Read More...

[Source: Paper Economy - A US Real Estate Bubble Blog]

City-Owned Parking Lots to be Developed

By Jeff Adolph LGBT Developments Two city-owned parking lots in Castro may become homes for HIV and AIDS sufferers if AIDS housing advocates get their concept approved (one of which is pictured left during a pride festival). The parking lots,...

Read More...

[Source: GayRealEstate USA]

BNN MUST SEE TV! Peter Dr. Doom Schiff, Robert Shiller, and Nouriel Roubini

Heres another new round of fairly calamitous forecasts from three of the most accurate economic prognosticators of our recent times.

Keep in mind that the respective outlook of all three forecasters has not changed measurably in the last year or so and, in fact, it seems quite obvious now that they were among the very few who clearly envisaged the full breadth and depth of the housing decline and the spillover effects that its reversal would have on the economy as a whole.

Peter Dr. Doom Schiff, President of Euro Pacific Capital joins CNN and CNBC to discuss the mortgage-housing crisis and its effects on the wider economy. Schiff points out that many of the subprime and toxic exotic loan borrowers were not victims but, in fact, speculators.

As lending standards tighten, returning to normal, home prices will correct and home equity will vanish leading Schiff to predict that he is 100% certain that we are headed for a severe and prolonged recession while also suggesting that it will take time for all the aspects of the collapse to fully unwind.

Watch Dr. Dooms Recent CNN Appearance on BNN!

Watch Dr. Dooms Recent CNBC Appearance on BNN!

Yale Professor and Chief Economist of MacroMarkets LLC Robert Shiller joins CNBC to discuss the psychology of homeowner sentiment and the outlook for housing.

Shiller continues to suggest that, although the course of the housing market is slow and hard to predict, he is still worried about the impact of the correction and the likeliness for it to worsen.

While homeowners and homebuyers are generally still optimistic about housing and consumption, Shiller suggests that falling home prices and increasing inventory may likely erode that confidence.

Watch Robert Shillers Recent CNBC Appearance on BNN!

Watch Robert Shillers Recent Larry Kudlow Appearance on BNN!

New York University Professor and Chairman of RGE Monitor, Nouriel Roubini joins Bloomberg to discuss the outlook for housing and the economy.

Roubini now puts the odds of a recession at over 50% with the mortgage-credit crunch and a declining housing market leading to a weakening consumer.

While predicting an inevitable rate cut from the Fed, Roubini suggests that it will likely be too late to really affect the housing decline.

Watch Nouriel Roubinis Recent Bloomberg Appearance on BNN!

Read More...

[Source: Paper Economy - A US Real Estate Bubble Blog]

How to Pay Off Your Mortgage Faster

By Jeff AdolphAsk a RealtorThe demise of the mortgage industry is the news of the year. Exotic loans, predatory lending practices, high-flying investors buying risky mortgage securities, and the plight of homeowners faced with mounting monthly payments are just a...

Read More...

[Source: GayRealEstate USA]

Constructing Capitulation: July 2007

Looking back at Julys results (released throughout August) its obvious that the nations housing markets are continuing to show significant weakness, even during what, for most measures, is generally the seasonal peak in activity for the year.

Slowing demand and the now undeniable mortgage-credit-financial crisis are continuing to weigh heavily on housing, setting up for what seems fairly certain to be a new leg down and ultimately a severe housing recession.

The preliminary GDP report for Q2 2007 continued to show a significant drag coming from the decline in residential fixed investment as well as significant revisions to past GDP results better demonstrating the pronounced effects this drag has had for the last four quarters.

The following chart shows real residential and non-residential fixed investment versus overall GDP since Q1 2003 (click for larger version).

The housing weakness also continues to clearly show up in retail sales as consumers pullback on spending for some of the most discretionary of goods.


The National Association of Realtors (NAR) released their sixth consecutive downward revision to their annual home sales forecast for 2007 putting the current outlook far below the rose colored initial predictions from the start of the year.

NAR Chief Economist Lawrence Yun now suggests that the demand is still out there but its just being delayed.

Homebuilder confidence continues to decline to near multi-decade lows with respondents indicating that estimates of present and future conditions as well as buyer traffic continues to slump.

The Census Departments New Residential Construction Report which continues to indicate horrendous weakness in the nations housing markets and for residential construction showing substantial declines on a year-over-year basis to single family permits both nationally and across every region.

The Census Departments New Residential Home Sales Report that, despite all the traditional medias unexpected increase coverage, continues to show weakness as well as significant downward revisions to April and Mays results.

As with prior months, on a year-over-year basis sales are still declining significantly at 10.2% below the sales activity seen in July 2006.

NARs Existing Home Sales Report showing additional confirmation that the nations housing markets are continuing to experience weakness with EVERY regions showing considerable declines to sales, across every product (single family, condos), as well as continued increases to inventory and monthly supply.

The June 2007 results of the S&P/Case-Shiller Indices are continued to show weakness for the nations housing markets with 15 of the 20 metro areas tracked reporting significant declines.

Topping the list of decliners on a year-over-year basis was Detroit at -11.01%, Tampa at -7.70%, San Diego at -7.30%, Washington DC at -6.96%, Phoenix at -6.55, Las Vegas at -5.09%, and Miami at -4.79%.

Furthermore, comparing the last major downturn in the late 80s and early 90s to the current data may indicate that the current housing downturn is in its infancy with year-over-year declines only just having materialized in the last eleven months.

The Census Departments Construction Spending report for June again demonstrated the significant extent to which private residential construction spending is contracting.

With the weakening trend continuing, total residential construction spending fell -16.11% as compared to July 2006 while private single family construction spending declined by a grotesque -25.32%%.

Key Report Details:

• The seasonally adjusted annul rate of private residential construction spending has now dropped 23.27% from the peak set back in February 2006.
• Overall private residential construction spending dropped -16.11% as compared to July 2006.
• Single Family residential construction spending dropped 25.32% as compared to July 2006.

The following charts show changes to construction spending (click for larger version):







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[Source: Paper Economy - A US Real Estate Bubble Blog]

The Very Rev. Tracey Lind

By Jeff Adolph News in BriefThe Episcopal Church, which recently divided after the 2003 election of an openly gay Bishop in New Hampshire is now considering a Lesbian priest as the next Episcopal Bishop of Chicago. At present, there are...

Read More...

[Source: GayRealEstate USA]

The Daily 2 - Levittown or Pricey Boston Metro?

Look at the above image (click for larger version) Can you tell the difference?

Sure, one is a nearby suburb of Boston and the other is the archetypal poster boy of mass-manufactured suburban sprawl located roughly the same distance from Trenton but still It seems fairly clear to me, as a longtime resident of the Boston metro area, that Bostonians got absurdly heady when valuing their location location location!

I should remind my Boston area readers that it wasnt that long ago that our suburbs were considered, even by local standards, to be quite spotty and even the least discriminating among us could easily cast judgments in all directions.

Please excuse the snarky nature of this post and I certainly mean no disrespect to the people of Levittown Pennsylvania (or Levittown New York, or former Levittown New Jersey now known as Willingboro), Trenton or Boston for that matter, but really what exact bit of social psychology made well educated, mostly affluent people fall all over themselves to bid up these cramped cookie cutter suburban homes to such stratospheric heights?

In the boom years, a typical experience for a buyer of any of the homes in this view would be to attend the first open house, sign an offer contract on the spot duly secured with a $1000 earnest money deposit, and then gear up to participate in the bidding war that would inevitably ensue shortly thereafter.

If you were the lucky buyer, it meant that you either feverishly bid to the top of the pile or agreed to some of the most stringent purchase restrictions (i.e. shortened timeline and limited or sometimes no inspections) or, in many cases, did both.

Your price, in 2005, was likely in the range of $550,000 - $650,000 with many homes in this view easily fetching over $700,000.

All this for modest capes and ranches sitting on small and tight, non-private lots, many within earshot of a major highway in post-war developments where hardly a home exceeds 1500 square feet.

Though many homes had been recently renovated, no amount of stainless steel and granite can hide the fact that an undersized three bedroom one and a half bath is a starter home by any modern standard.

Today, these very same homes are coming back down to earth.

Most are temporarily still fetching low 4s to mid 5s but the exuberant mania is a thing of the past.

Demand is down and attitudes are changing as buyers rightfully expect more for their half a million dollar debt burden than a humble starter home that has no guarantee of being worth the sale price even for many years to come.

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[Source: Paper Economy - A US Real Estate Bubble Blog]

The Best and Worst Professions to be in...

By Jeff Adolph LGBT Professions Author Dan Woog who has been exploring the struggles of gay athletes and teachers has since decided to look more critically at Gays and Lesbians within the workforce and uncover just what professions are considered...

Read More...

[Source: GayRealEstate USA]