Steve has written 25 article(s) for the BiggerPockets Blog.
Real Estate by Steve Heideman | January 5, 2009Like the rest of the country, mortgage markets were on semi-vacation last week. The low trading volume led to wild rate swings. After beginning the week vastly improved, and capped by a terrible late-Friday run, mortgage rates ended the week unchanged for the second week in a row. This week, though, it’s anyone’s guess. Wall [...]
Financing Real Estate by Steve Heideman | December 29, 2008With home prices falling across most parts of the country, investors in real estate are finding good value in certain rental properties. Unfortunately, they’re also finding it harder to get approved for a home loan. After getting stung by defaults, conforming mortgage standards for non-owner occupied home loans tightened dramatically last quarter. One major change [...]
Economy by Steve Heideman | December 22, 2008Mortgage markets improved last week for the second week in row. After the Federal Reserve said it would use “all available tools” to stimulate the economy, traders responded by driving mortgage rates to 50-year lows. It didn’t last long, however. After bottoming out early-Wednesday morning, mortgage rates trended higher all the way into Friday’s closing. [...]
Economy by Steve Heideman | December 8, 2008The week’s most talked-about story hit the wires Friday. According to the government, the U.S. economy shed 533,000 jobs last month and the national Unemployment Rate rose to 6.7%. This was the largest number of jobs lost in any one month since the recession of 1974. In a normal market, job losses of this magnitude would [...]
Economy by Steve Heideman | December 5, 2008Taking a look at these humorous cartoons about how high gas prices were this summer, it got me thinking about how much money the fall in gas prices really affects the pocketbooks of Americans. Gas Prices View SlideShare presentation or Upload your own. (tags: rajendran) The global recession has caused significant demand destruction of all [...]
Commentary by Steve Heideman | November 25, 2008Slideshare.net the social media website that allows anyone to post powerpoint presentations and share them had an interesting contest. They had a contest open to everyone to see who could come up with the best presentation on the current financial crisis in 30 slides or less. Here are the 3 winning presentations. I thought this [...]
Economy by Steve Heideman | November 20, 2008The scuttlebutt amongst conservatives since the beginning of the subprime mortgage mess has been that the Community Reinvestment Act (conveniently expanded during the Clinton years) was the source of the troubles in the capital markets. Being a housing economist with a fiscally conservative disposition (although not a registered republican or democrat) I always found this [...]
Economy by Steve Heideman | November 17, 2008In Frank Sinatra’s famous tune “That’s Life”, he penned the lyrics: “That’s life, that’s what all the people say. You’re riding high in April, Shot down in May” I am going to change them to “You’re riding high at 4:36pm on Tuesday, Shot down at 3pm Thursday” Lame intro–I know–but my point is made. The [...]
Blogs by Steve Heideman | November 10, 2008It’s official. As of 11:04 EST Tuesday November 4th 2008 Barack Obama is the first black president of the United States of America. In a unprecendented move, President elect Obama moved quickly appointing a 17 person bi-partisan economic team. Members of the team include such economic titans as former Regan fed chief Paul Volcker, billionaire [...]
Mortgages & Lending by Steve Heideman | October 27, 2008The Chinese have a saying: “May you live in interesting times”. Well, I don’t think there are many people out there who think that things have been boring lately. In the last weeks, mortgage markets whipsawed as the Dow Jones Industrial Average recorded both its largest one-day point gain and second-largest one-day point loss in [...]
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The Financial Crisis in Pictures
by Steve Heideman | November 25, 2008Slideshare.net the social media website that allows anyone to post powerpoint presentations and share them had an interesting contest. They had a contest open to everyone to see who could come up with the best presentation on the current financial crisis in 30 slides or less. Here are the 3 winning presentations. I thought this [...]