RyanMcMaken.com

Thursday, August 2, 2012

9News interview on foreclosures: August 2, 2012

Today's 9News interview. Gregg Moss was very kind to have me on again this morning.

http://www.9news.com/video/default.aspx?bctid=1767637374001

AP picks up my foreclosure story today

Some great coverage today of my foreclosure report:

Boulder County has low foreclosure rate

Boulder County Business Report - ‎2 hours ago‎

DENVER - Boulder County had the lowest home foreclosure rate of any metro county in Colorado in the first quarter of 2012, according to a report released Thursday from the Colorado Division of Housing. Boulder County reported a foreclosure rate of one ...

Q2 foreclosure auction sales drop from one year ago

Bizjournals.com - ‎3 hours ago‎

Foreclosure auction sales in Colorado in the second quarter hit their lowest level since 2007, with 3784 completed auctions, down from 5333 in the second quarter last year, according to a report released Thursday by the Colorado Division of Housing.

Colorado Foreclosure Auction Sales Down

CBS Local - ‎4 hours ago‎

According to a report released Thursday by the Colorado Division of Housing, auction sales during the second quarter hit the lowest level reported since the division began compiling foreclosure data in 2007. There were nearly 3800 foreclosure auction sales, ...

Colorado Foreclosure Auction Sales Down

KKTV 11 News - ‎4 hours ago‎

DENVER (AP) -- New foreclosure auction sales were down 26 percent in Colorado during the first half of 2012 compared to the first half of 2011. According to a report released Thursday by the Colorado Division of Housing, auction sales during the second ...

Foreclosure-auction sales down 26 percent in Colorado

9NEWS.com - ‎4 hours ago‎

DENVER - The Colorado Division of Housing says auction sales during the second quarter hit the lowest level reported since the Division began compiling foreclosure data five years ago. There were 3784 foreclosure auction sales, or completed foreclosures, ...

Foreclosure auction sales down 26 percent in CO

9NEWS.com - ‎4 hours ago‎

Colorado foreclosure auction sales down

KKCO-TV - ‎4 hours ago‎

Colorado foreclosure auction sales down

CBS News - ‎5 hours ago‎

Colorado foreclosure auction sales down

MSN Money - ‎5 hours ago‎

Colorado Foreclosure Auction Sales Down

KMGH Denver - ‎5 hours ago‎

According to a report released by the Colorado Division of Housing, auction sales during the second quarter hit the lowest level reported since the division began compiling foreclosure data in 2007. There were nearly 3800 foreclosure auction sales, ...

Colorado foreclosure auction sales down

Ventura County Star - ‎6 hours ago‎

Colorado foreclosure auction sales down

Northern Colorado 5 - ‎6 hours ago‎

Colorado foreclosure auction sales down

KGWN - ‎6 hours ago‎

Colorado foreclosure auction sales drop during second quarter

The Republic - ‎6 hours ago‎

DENVER — New foreclosure auction sales were down 26 percent in Colorado during the first half of 2012 compared to the first half of 2011. According to a report released Thursday by the Colorado Division of Housing, auction sales during the second quarter ...

Foreclosure auction sales down in Colorado

Denver Post - ‎6 hours ago‎

New foreclosure auction sales were down 26 percent in Colorado during the first half of 2012 compared to the first half of 2011. According to a report released Thursday by the Colorado Division of Housing, auction sales during the second quarter of 2012 hit ...

Foreclosure sales fall sharply in area, state

Colorado Springs Gazette - ‎7 hours ago‎

The number of troubled properties in the Pikes Peak region that were auctioned off after falling into foreclosure dropped sharply in the first half of this year, which follows a statewide trend, according to a Colorado Division of Housing report released Thursday.

Tuesday, July 3, 2012

Clippings, June 2012

Denver Post, June 15: "

"Colorado's completed foreclosures hit five-year low in May"
"Foreclosure auction sales have now been down 19 of the last 20 months, comparing year over year, and for now, we can say fewer people have been losing their homes to foreclosure this year when compared to other years since 2007," said Ryan McMaken, spokesman for the Division of Housing.
"On the other hand, filings continue to rise, and since some of those filings will turn into re-possessed homes in the future, we can see that foreclosures haven't gone away yet."

Denver Business Journal, June 15: "

"Colorado urban foreclosure sales down, but filings up, in May"
“Foreclosure auction sales have now been down 19 of the last 20 months, comparing year over year, and for now, we can say that fewer people have been losing their homes to foreclosure this year when compared to other years since 2007,” Ryan McMaken, spokesman with the Colorado Division of Housing, said in a news release. “On the other hand, filings continue to rise, and since some of those filings will turn into repossessed homes in the future, we can see that foreclosures haven’t gone away yet.”

Wednesday, June 13, 2012

Clippings, April-May 2012

Denver Post, May 24:
Vacancies in Denver-area rental houses at historic lows
Vacancies in for-rent condos, single-family homes and other small properties across metro Denver rose slightly during the first quarter although the market remained tight with a vacancy rate of 1.6 percent.
"The vacancies we do see are due to little more than turnover, so this tells us that most of the metro area rental homes are filling up, and are doing so rather quickly," said Ryan McMaken, spokesman for the Colorado Division of Housing.

Denver Post, April 27:
Colorado foreclosure auction sales down 25% in first quarter
"Foreclosure activity continues to trend down in Colorado, even when compared to early 2011 which itself saw a big drop from the 2010 totals," said Ryan McMaken, spokesman for the Colorado Division of Housing.

"Toward the end of 2011, we saw employment and home prices stabilize while home buying appeared to increase, so these foreclosure numbers likely reflect those factors," said McMaken.

Denver Business Journal, April 26:

Sharp drop in Colorado foreclosures in Q1
“Foreclosure activity continues to trend downward in Colorado, even when compared to early 2011, which itself saw a big drop from 2010 totals,” Ryan McMaken, spokesman for the Colorado Division of Housing, said in the report. “Toward the end of 2011, we saw employment and home prices stabilize, while home buying appeared to increase, so these foreclosure numbers likely reflect those factors.”

Denver Business Journal, May 10:
Home/condo vacancy rate is at 1.6 percent
“With a vacancy rate below 2 percent, you’re essentially dealing with 100 percent occupancy,” Ryan McMaken, division spokesman, said in a news release. “The vacancies we do see are due to little more than turnover, so this tells us that in most of the metro area, rental homes are filling up and are doing so rather quickly.”

Colorado Springs Gazette, April 26:
Foreclosure activity slows in Pikes Peak region during 1st quarter
“Several mountain counties are still dealing with growth in foreclosure activity, and may not have peaked yet,” Housing Division spokesman Ryan McMaken said in a statement accompanying the report. “The Front Range, however, which drives the overall statewide totals, looks like it peaked back in 2010.”

Denver Post, April 23:

Report: Low-income Coloradans priced out of rentals

"Rental housing in general since 2009 has become more scarce for many households as vacancies fall and rents rise," said Ryan McMaken, a spokesman for the Colorado Division of Housing. "But when one is at the lowest income levels, the impact of the growing demand for rentals can be especially severe as once-affordable units are priced out of range."

Denver Business Journal, April 23:

Colorado low-income families outnumber affordable rentals 2-1

"Rental housing in general since 2009 has become more scarce for many households as vacancies fall and rents rise," Division of Housing spokesman Ryan McMaken said. "But when one is at the lowest income levels, the impact of growing demand for rentals can be especially severe as once-affordable units are priced out of range."

Boulder County business Report, April 23:

Boulder County toughest rental market

Those figures typically indicate low-income renters are being hit hard by a lack of inventory and are forced to pay a disproportionately high percentage of their income in rent, and that likely is true in Boulder County, McMaken said. But the local numbers could be influenced by other factors. Some renters could be willing to pay a premium to live in Boulder, he said. "For those people who choose to do whatever it takes to live in Boulder, they're going to pay a lot," McMaken said.

Denver Post, April 19:

Colorado home purchase and refinance activity up as rates fall

"Release totals are up quite a bit since the middle of 2011, and this is not surprising since mortgage rates have continued to drop in recent months and home-purchase activity has begun to pick up," said Ryan McMaken, spokesman for the state Division of Housing. "Numbers are still down significantly from where they were 10 years ago, but the first quarter seems to be one of the most active quarters for home loan transactions since 2008."

Ft. Collins Coloradoan, March 16:

Larimer County experiences surprising spike in foreclosure activity

"For the most part, over the last 18 months, Larimer County has seen larger decreases in activity than other parts of the the state," said Ryan McMaken, spokesman for the Colorado Division of Housing, which released its February foreclosure filings ..

KUNC, March 14:

Colorado Foreclosures Up Slightly

“This doesn’t mean the larger overall trend is stopping,” says Ryan McMaken, an economist with the state Division of Housing. “And that larger overall trend is down from the highs of 2009 and 2010. That looks like that’s going to continue, but it looks like we might be facing several months – maybe 6 to 9 months – of short-term increase in foreclosures as the lenders deal with inventory that’s been building up over the last 18 months or so.”

Pueblo Chieftain, March 1:

Another foreclosure wave hits

"Filings were up a bit in February . . . and this may reflect a renewed effort by lenders to process foreclosures," housing division spokesman Ryan McMaken said.

Denver Business Journal, March 15:

Rents rise in all metro Denver counties

“The vacancy rate went up slightly year-over-year. That doesn’t mean much, though, because when you’re looking at vacancy rates below 3 percent, the bottom line is that the market is tight,” McMaken said in a statement. “For many people, it’s not easy to buy a house right now, so they’re renting.”

Denver Post, March 15:
Vacancies scarce in rental houses in metro area, rents rise
Ryan McMaken, spokesman for the the Division of Housing, said that although the vacancy rate went up slightly year-over-year, "that doesn't mean much because when you're looking at vacancy rates below three percent, the bottom line is that the market is tight. "For many people, it's not easy to buy a house right now, so they're renting," he said.

Denver Business Journal, March 14:
Foreclosure sales at 5-year low in Colorado urban counties
“Foreclosure auction sales have now been down 13 of the last 14 months, comparing year over year, and this continues a trend of diminished foreclosure filings that we’ve been seeing since the fall of 2010,” Ryan McMaken, a spokesman with the Colorado Division of Housing, said in a press release.

“On the other hand, filings were up a bit in February compared to last year, and this may reflect a renewed effort by lenders to process foreclosures in the wake of the recent legal settlement with the states and the feds,” he said. Fort Collinsn Coloradoan, February 24: Fort Collins/Loveland vacancy rates down; rents up The Coloradoan Few cities were prepared for the shift because they were so focused on single-family home construction, McMaken said. But's that no longer the case.

Tuesday, June 5, 2012

9News on single-family rents

9News was nice enough to let me call in for a 5:10 am interview on single-family rent levels.

KUSA - Our recovering Colorado economy means it's very much a landlord's market on the rental front. That's what a new report from the Colorado Division of Housing is showing.
We spoke with Ryan McMaken of the Colorado Division of Housing. He said vacancies in for-rent condos, single-family homes, and other small properties across metro Denver rose slightly during the first quarter although the market remained very tight with a rate of 1.6 percent.

Interview with Colorado Public Radio

Rents are at historic highs in parts of the Front Range, and it’s prompting renters to look at buying. The problem is, there aren’t a lot of affordable homes on the market these days. Ryan McMaken, an economist for the Colorado Division of Housing, speaks with Ryan Warner.

Listen here.

Wednesday, May 16, 2012

On Foxnews today

Foxnews is running a story on rent increases today in which I was featured in my capacity as an economist.

Featured Videos Shattered Dreams: Rising rents May 16, 2012
Increasing costs cause disturbing trend

Also: Featured Videos Rising Rents a Growing Problem May 16, 2012 - 1:46
Many moving in with family or friends