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News Archives
July 2008
Wednesday, July 30, 2008
 ABC News |
Nationwide Home Values Plummet to 2004
levels:
Prices to sink to 2000 levels (or worse) before we hit bottom!! Home prices in May plummeted 15.8% from a year earlier, to 2004 price levels, wiping away four years of appreciation, according to the S&P/Case-Shiller 20-city home-price index released July 29.. "Demand is way below where it was eight years ago; supply is way above," Schiff said. "Why should prices be substantially higher than they were in 2000? The Dow isn't where it was in 2000. Stocks are worth less than they were. Why should real estate stand out as worth more?" Home Prices Hit Four-Year Low BusinessWeek |
Where's the bottom of housing market?
Philadelphia Daily
News, PA
Rapid decline in 20 US cities - biggest
recorded yearly slide
San Francisco
Chronicle, USA
Central Bankers Safety Confidence Trick as
Great Depression 2.0 Looms
The Market Oracle, UK
Monday, July 28, 2008
US home values fall 4.8% in past year, US says
MarketWatch
Housing aid OK'd, but will it work?
Minneapolis Star
Tribune, MN
Fannie Mae bailout: Taxing America's poorest to help the
richest
blogs.law.harvard.edu
Lehman Brothers: Home Prices Haven't Hit Bottom
Yet
Trading Markets (press
release), CA
(RTTNews) - Home prices, measured by
the S&P Case-Shiller index, are likely to fall further in May,
say the analysts at Lehman Brothers. ...
US house prices overvalued by up to 20 pct-IMF
paper
Reuters
House price dynamics in the United
States," IMF economist Vladimir Klyuev used several economic
techniques to determine by how much US home prices are ...
San Diego Looks to Halt Countrywide
Foreclosures
Housing Wire
San Diego, Calif. is the latest city to
attempt to stop a growing tide of foreclosures via legal
action, with city attorney Michael Aguirre filing a civil ...
US housing slump “without precedent”:
foreclosures up 121 percent over 2007
World Socialist Web
Site, MI
The Fannie-Freddie Fraud
(by Ron Paul)
Lew Rockwell, CA
California foreclosures jump to 20-year high
Reuters
US Foreclosures Double as House Prices Decline
(Update2)
Bloomberg
JPMorgan Chase, Lenders May Gain New Borrowers
from Housing Law
Bloomberg
Monday, July 21, 2008
California Median Home Price
Continues Plunge:
Median falls more than 31%, year over year!!
The median price paid for a home last month was $328,000, down
3.2 percent from $339,000 for the month before, and down 31.5
percent from $479,000 for June a year ago. Around half the
drop in median is due to depreciation, the other half due to
shifts in the types of homes selling, and how those homes are
financed.
California June 2008 Home Sales Report
DQNews
Krugman: Housing Won't Recover Until At Least 2011
In his
column in today's New York Times, Paul Krugman
predicts that the housing market won't begin to emerge from
its current slump until at least 2011, and that's because that
market will keep slumping for a while. Waiting for a bubble to
deflate is the opposite of popping a water balloon -- it takes
a while.
he New York Observer
FDIC in mess over subprime loans-WSJ
The Federal Deposit Insurance Corp, a
regulator of US banks, is itself embroiled in a mess related
to subprime mortgages, ...
The U.S. government gave out
high-interest, subprime mortgages, according to government
documents filed in federal court, the newspaper said.
Reuters
 ABC News |
Fed prohibits subprime 'liar's loans'
Seattle Post Intelligencer The federal government has put its foot down: A lender can't give you a subprime mortgage unless you are able to repay it. ... |
KB Home building townhomes in Henderson
(NV)
Las Vegas Review -
Journal, NV
A new report from the Center for
Economic and Policy Research shows that,
due to the bursting of the housing bubble, the vast majority
of
Bay Area median price dives below $500K; sales near record low
(CA)
DQNews
Housing prices haven't hit bottom yet
McClatchy Newspapers
Thursday, July 17, 2008
Bargain hunting picks up as Southern California
home values fall further
Los Angeles Times
SoCal home prices drop 29.3 percent in June
Forbes, NY
The median price has fallen because of
depreciation, especially in inland markets, and because of the
steep drop in home financing in the jumbo category, ...
Home auctions surge nationwide
Jackson Clarion
Ledger, MS
This Weeks Biggest Loser:
Phoenix, AZ
Median asking price plunges Nearly $5K in 7 days!
housingtracker.net/askingprices/Arizona/Pheonix
HousingTracker
Valley home prices drop record 18%
Arizona Republic, AZ
Valley home prices continued their
year-over-year plunge in April, dropping a record 18 percent
as the impact of foreclosures and other ...
Mortgage Confidential: Fed's new sub prime
rules will have little effect
WalletPop, VA
Feds Probe IndyMac, Expand Subprime Inquiry
ABC News
FREDDIE & FANNIE UNCONSTITUTIONAL BAIL OUT
USING WHAT?
We also
know that what is being proposed regarding Freddie Mac and
Fannie Mae is against the law. The U.S. Constitution does NOT
authorize Congress to act as a bank to bail out corporations
like Lee Iacocca's Chrysler Corporation, the infamous 'Mexican
Peso Bailout' under Marxist Bill Clinton or Freddie and
Fannie.
NewsWithViews.com, OR
Fannie and Freddie Are Largely Responsible for
the Housing Bubble
Seeking Alpha, NY
Fannie, Freddie spent millions on lobbying
The Associated Press
Angry depositors want every penny from bank
"Once I get in the door, I'm going to get every penny I can
out of there,”
Klein told
The Associated Press while waiting in line outside the
bank's headquarters branch in Pasadena. "I'm going to bury it
in the back yard.”
NewsOK.com
(subscription), OK
Hamptons House Prices Fall Amid Wall Street's
Decline (Update5)
Bloomberg
Home prices keep falling and mortgage defaults
keep rising
The Foothill
Weeklies, California
Monday, July 14, 2008
Senate Approves $300 Billion Plan to Stem
Housing Foreclosures
Bloomberg
The legislation, approved 63-5 today,
would let an estimated 400000 struggling homeowners avoid
foreclosure by refinancing their subprime mortgages into ...
Subprime Crisis Again in the Spotlight as the
Meltdowns of Fannie Mae
and Freddie Mac Fuel Fears of a Deeper Downturn
Money Morning
Fed set to OK rule forcing lenders to verify
subprime income ...
Forbes, NY
No relief in sight in housing crisis
TMCnet
Appraisers Accused Of Over-Inflating Home
Values
WFtv.com, FL
May home values down 14%, value drops 15%
(FL)
Bizjournals.com, NC
Orlando homes sales and prices
continued to fall in May, with a 14 percent decline in sales
and 15 percent slide in home values from the same month a year
...
DC area home prices fall again
Bizjournals.com, NC
A new survey of major metropolitan
areas in the US shows home values fell in most markets
including the DC area in April. Home values were down in 23
out of ...
ZipRealty.com Unveils "Price Me Now" Real
Estate Prediction Game
CNNMoney.com -
"We're excited to introduce the 'Price
Me Now' game for members of the ZipRealty.com community to
help predict home prices in their local markets," said ...
Area home prices hit 8-year low
(MI)
Home prices have hit an eight-year low in Washtenaw County,
with the average house selling for just a few thousand dollars
more than it did in 2000, according to newly released figures.
The Ann Arbor News -
MLive.com, MI
Paul Krugman: If Bush's policies aren't
responsible for bad economy, what is?
Dallas Morning
News, TX
You Don't Own Real Estate - It Owns You
SeekingAlpha
Tuesday, July 08, 2008
Home Prices Fall in 23 of 25 U.S. Metropolitan
Areas
Bloomberg.com
Fed to Clamp Down on Exotic and Subprime Loans
New York Times, United
States
With no end in sight to the turbulence
in the housing and financial markets, the chairman of the
Federal Reserve said on ...
The Continuous Housing Free Fall
The Washington
Independent
Property owners balk at low bids at Florida
housing auction
PalmBeachPost
Credit Crisis wipes $1 trillion from financial stocks
Yahoo! News
Market leaves housing flippers flopping
tampabay.com
Rent signs filling front yards
dailybulletin.com
Debt collectors on the rampage
money.cnn.com
Monday July 07, 2008
Foreclosures to rise whoever wins White House
Danville News, PA
Even the optimism that surrounds a new
president taking office can't resurrect home values overnight,
and presidents have no direct ability to reduce rising ...
Subprime's hottest spinoff: arson
National Post, Canada
The subprime housing meltdown in the
United States is triggering fears of a hot spin-off: arson.
Mortgage defaults are growing at their fastest rate in ...
This Weeks Biggest Loser: San Jose,
CA
Median asking price sinks over $7,000 in past 7-days!
HousingTracker.net: Median Home Asking Price & Inventory Data for San
Jose, California
HousingTracker
More HOA Pitfalls!
"The homeowner that pays their monthly, quarterly, their annual dues
gets stuck picking up the slack for those homeowners who haven't
paid," said Sheri Scarborough of Prime Management Group. "They also
get stuck with the bills of maintaining the homes, in some cases
boarding up the homes. So it's the good homeowner who suffers."
Homeowners
Absorb Debt From Foreclosures
WPBF.TV
Pinellas failed to learn real estate lessons of 1920s
St. Petersburg Times
Bitter lessons learned from refinancing
Los Angeles Times
 |
Ohio Housing Market Sees Red
ConnieTalk, Ohio Foreclosures have hit Ohio hard, and employment is falling: Ohio has the second worst job market out of 16 politically charged states. ... |
May home values down 14%, value drops 15%
(FL)
Bizjournals.com, NC
Orlando homes sales and prices continued to
fall in May, with a 14 percent decline in sales and 15 percent slide
in home values from the same month a year ...
The Home-Equity Door Slams Shut
Washington Post, United States
Housing Bust Hurts Once-Immune Cities
(NY)
The average price for a Manhattan apartment fell 2 percent in the
second quarter to $1.66 million, according to Halstead Property, a
New York real estate firm that tracked 2,988 apartment sales.
ABC News
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