John Mulkey, Housing Guru

According to a report released today, home prices continue a slow decline, with November prices dropping more than 5% year over year. As I have described in previous posts, prices will remain unstable unless we are able to constructively deal with the millions of potential foreclosures that await...

It now appears that the recession may compel more homeowners to downsize. With a growing number having difficulty paying for and maintaining their McMansions, some are looking for smaller more energy efficient homes in an attempt to reduce both their monthly housing expenses and the physical effo...

In yet another revamp of HAMP, the administration’s program to help homeowners avoid foreclosure, Treasury is weighing some new options. An article in today’s NY Times reports on some of the methods under consideration.   One of the stumbling blocks that many seeking foreclosure relief regularly ...

If you are planning the purchase of a resale home, you may be considering the purchase of a home warranty. While home warranties offer peace of mind, the important issue is whether or not you’ll have coverage when you need it. It’s important to understand the home warranty coverage you are buyin...

While news stories, articles, and blogs continue to be written about “Strategic Default” and how those facing foreclosure shouldn’t be allowed to walk away or have their mortgage balance reduced, punishing foreclosure victims only continues the pain for all of us. The problem we face isn’t one of...

Okay, so we’re already a month into winter; it’s still not too late to do that winter home maintenance list. On those cold winter days when Mother Nature’s icy breath keeps you indoors, change those smoke alarm batteries if you haven’t done so within the last year, replace your furnace filters, a...

For those considering the purchase of a foreclosure or unoccupied home, the market in most areas offers a wide selection of options. Buyers will find everything from pristine, well maintained, “cream-puffs,” to fixer-uppers, and a few “tearer-downers.” The current housing crisis has created buyin...

There’s been lots of discussion about the crisis in the Japanese economy and how it continues to struggle after ten years of no improvement, and many wonder if the U.S. may experience a similar fate; but the real question for American consumers is: Will housing experience a lost decade? While the...

Thursday’s report from the Labor Department indicated that first time claims for unemployment benefits unexpectedly increased by 11,000 last week. Most economists had anticipated a slight decline. And in a report from the Commerce Department, retail sales for December fell at a seasonally adjuste...

While the pundits and politicians discuss the housing crisis and the various ways to effect a recovery, the question to consider is: Has housing reached a turning point or a point of no return? It appears that housing is unlikely to return to its most recent glory days. But that’s not necessarily...