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Real Estate News Archives
May 2009
| Friday, May 29, 2009 |
Foreclosure Storms Gets More Severe!
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Another Leg of the Housing Crash Headed for the USA!
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Housing is bad enough, but wait — it'll get worse
TheNewsTribune.com
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The United States of Empty Houses: More On Sale As More Foreclosures on the Way
Real Estate News | BiggerPockets.com
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Housing Picture Brightens in California
Wall Street Journal
Median prices, even month to month, continued to fall there amid a glut of foreclosures. But in several more densely populated areas, the median price was ...
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NJ home prices haven't hit bottom yet
The Star-Ledger - NJ.com
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| Buffett Aide Says Housing, Economy Are Not Near Recovery bloomberg.com |
| Thursday, May 28, 2009 | ||
FHA Tries to Re-Inflate Housing Bubble With Tax-Credit Down-Payment Allowance
Although the $8000 tax credit carries the name "first-time home buyer," eligibility extends to anyone who hasn't owned a principal residence during the last ...
FHA allows lenders to 'monetize' home buyer tax credit
Los Angeles Times
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| Top 20 Cities with Biggest Home price Declines USHousingUpdate.com |
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| Housing Is Not Just Bad, It’s Getting Worse 24/7 Wall Street |
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| Compare State-by-State Unemployment / Foreclosures Foreclosures: How bad is your state? CNNMoney |
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San Diego County housing prices still slipping but pace slows
San Diego Union Tribune
In April, San Diego-based MDA DataQuick said county foreclosures were up 23 percent from March. Many analysts expect even more foreclosures, now that banks ...
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| Wednesday, May 27, 2009 |
We are now in the midst of the BIGGST HOUSING CRASH in American History
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Home Prices in 20 US Cities Fall More Than Forecast
Bloomberg
Home prices in 20 major metropolitan areas fell more than forecast in March as foreclosures surged, ...
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Texas Home Prices Continue Nosedive
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Seattle-area house prices back to 2005 levels
Seattle Post Intelligencer
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Signs of more trouble ahead for housing market
San Francisco Chronicle
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Mortgage Modifying Fails to Halt Defaults
Wall Street Journal
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The Failure Of The Mortgage Modification System Threatens Housing
24/7 Wall St.
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Home Values: Relief for Some, Havoc to Others
Housing Wire
“Homeowners in many parts of the country are coming under stress from a loss in equity, rising delinquencies and foreclosures, and economic uncertainty,” he ...
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Plan to audit Fed steamrolls ahead
American Daily
Ron Paul, R-Texas, long has opposed the power held by the Federal Reserve and its ability to manipulate the nation's economy and over the years has launched ...
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| Tuesday, May 26, 2009 |
| Tuesday, May 26, 2009 |
Programs to help mortgage holders are failing
Daily Finance
Fitch guesses that because home prices are still falling, homeowners see their houses as economic sink holes whether the monthly payments change or not. ...
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No Housing Turnaround in Boston
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 Job Losses Push Safer Mortgages to Foreclosure nytimes.com |
| 20 Most Affordable US Cities with Lowest Home Prices USHousingUpdate |
How Sub-prime financed the economic disaster
EnerPub
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Married To Fannie And Freddie
Forbes
We have to deal with today, and the situation will not begin to fix itself until home prices stop falling. Taxpayers are supporting many institutions, ...
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 Prepare for 2nd Wave of Falling Home Prices Ahead!WE'RE OUT OF THE EYE OF THE HURRICANE, but here comes the back half of the storm. A lot of people think that we've seen the worst of the housing crisis. They're talking about green shoots and glimmers of hope, when they should be back in the storm shelter, preparing for a flood of inventory that will overwhelm the markets and produce another round of falling prices The Housing Hurricane Will Howl Again barrons.com |
Why did economists fail to predict the crisis
China Daily
While some did warn that home prices were forming a bubble, others confess to a widespread failure to foresee the damage the bubble would cause when it ...
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Cheap Chick: Utah home builders continue to roll out the incentives
Salt Lake Tribune
Lower home prices, super-low interest rates and, for those who qualify, a state grant worth $6000 and a federal income tax credit of $8000, all can greatly ...
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| Home Prices To Continue Downward As American Taxpayers Get Looted Via Bailouts but if you get into forced deleveraging, you could get into a situation where people just dump everything. The stock market’s going to continue down. It’s nowhere near bottom. Housing is going to continue down and as I say, the government’s doing exactly the wrong thing. They need to encourage savings; they need to reward savers. They need to encourage business to do smart things. People went out and bought houses they couldn’t afford, the banks made loans they couldn’t afford. It shouldn’t be on the back of the taxpayers to pay for that, but it is. CommodotyOnline |
Near-Zero Interest Rates Here to Stay
Reuters
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Death in Amarillo exposes debt-ridden housing empire
Austin American-Statesman
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A home, or a ball and chain?
Boston Globe
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Reality Check On Housing Market
Washington Post
Nouriel Roubini, who famously predicted much of the current crisis, thinks visions of green shoots in the economy are premature. ...
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| Friday, May 22, 2009 |
San Francisco Home Prices Fall 41% on Foreclosures
Bloomberg
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The strongest and weakest housing markets in the US
News On 6
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Housing recovery shaky in SoCal, Bay Area
OCRegister
The problem, is that we still face two big threats to price stability: layoffs, which can cause foreclosures across the home price spectrum, and possibly a ...
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| Solar energy comes home at last News On 6 |
Home prices fall to 5-year low - Arkansas
Arkansas Democrat Gazette
BY STEVE PAINTER The selling price for homes in Northwest Arkansas fell to a five-year low on a square-footage basis during the first quarter of this year, ...
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| Housing Recovery May Take More Than 10 Years blog.youwalkaway.com |
Coming Soon: The 2nd Wave of the Foreclosure Storm
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Blast From the Past: Lennar Advertising No-Money Down Homes
CNNMoney.com
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Momentum Builds For Ron Paul's "Fed Transparency" Act
The Business Insider
For years, Ron Paul has been a lone voice in Congress, questioning the wisdom of the Federal Reserve -- both its various chairmans and the institution ...
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| Thursday, May 21, 2009 |
More pain coming in housing market
North County Times
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Las Vegas home prices continue to slide
Las Vegas Review - Journal
Foreclosures, which accounted for 62 percent of April home sales, dragged the price down. Their median was $115000, compared with a median of $145000 for ...
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Calif. home prices to drop another 36%
OCRegister
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Schiff: Housing's Big Picture Isn't Pretty
TheStreet.com
In his book Irrational Exuberance, Robert Shiller determined that in the 100 years between 1900 and 2000, home prices in the US increased by an average of ...
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Financial Implosion and Stagnation
Center for Research on Globalization
22 At the very peak of the housing bubble, Bernanke, then chairman of Bush's Council of Economic Advisors, declared with eyes wide shut: “House prices have ...
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Thomas Sowell on how government policies made the housing crisis possible
Reason Online
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T2 warns of "more mortgage meltdown," cuts financials
Reuters
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Obama Signs Measures to Help with Troubled Mortgages
Washington Post
The legislation also streamlines Hope for Homeowners, a government program to refinance "underwater" loans that so far has helped few distressed borrowers. ...
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| Wednesday, May 20, 2009 | ||
Southern California Home Prices Drop Again:
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Home Prices Drop $10000, Off 41% from Peak - Orange County, CA
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Report: Most home sellers still overvaluing properties
Dallas Morning News
More than 80 percent of real estate agents surveyed for the nationwide report said home prices in their market have fallen in the last year. ...
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| Ron Paul: "Audit the Fed, Then End It" RockTrueBloodBlogSpot |
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US stock investors look for housing-market bottom
MarketWatch
By Kate Gibson, MarketWatch NEW YORK (MarketWatch) -- US stock investors on Monday fixated on housing to gauge economic growth going forward, with earnings ...
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Disappointing housing data send stocks lower
The Associated Press
Data showing that home building fell to a record low in April have dashed some hopes that the housing market has hit bottom. Many analysts see a recovery in ...
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Concerns About a False Bottom in Housing
Wall Street Journal Blogs
Housing construction is expected to reach a bottom later this year, though economists see price declines continuing until next spring. ...
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Housing's Big Picture Isn't Pretty
TheStreet.com
In his book Irrational Exuberance, Robert Shiller determined that in the 100 years between 1900 and 2000, home prices in the US increased by an average of ...
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Obama set to sign housing aid legislation
Reuters India
By Patrick Rucker WASHINGTON (Reuters) - The US Congress on Tuesday sent President Barack Obama a housing rescue bill that aims to save 400000 homeowners
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| The Worlds Safest Banks Cnbc.com |
| Tuesday, May 19, 2009 |
Foreclosure Aid Hits a Snag
Voice of San Diego
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Phoenix home prices still falling
AZ Central.com
Guntermann estimates that homes in the Phoenix area sold for a median price of $117500 in April, down from a $119000 March estimate, $121000 in February and ...
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| New Morning Joe Interview Reveals Ron Paul Predicted the Housing Collapse in 2003!  |
| Billion Dollar Bailout Banks Financed the Subprime Industry and America’s Economic Meltdown TheCuttingEdgeNews.com |
Home prices continue to sink in soft market - Michigan
The Morning Sun
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Foreclosure war stories: Two investors share theirs
SDNN: San Diego News Network
By Helen Kaiao Chang, SDNN San Diego real estate investors are going into bankruptcy playing Monopoly in real life. (Photo: Steven Bartholow, SDNN) You ...
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| U.S. Government Paying Homeowners to 'Walk Away' SeekingAlpha |
Government Inflating A New Housing Bubble
FOXBusiness
By Brian Sullivan I have no idea how I missed this one … but last week the Department of Housing and Urban Development said it is pushing a plan to allow ...
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The Real Estate Bubble Won't Re-Inflate
Forbes
And, you know, rumors were that a lot of the people who drove this most recent housing bubble were baby boomers. If they're selling off their homes, ...
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| Monday, May 18, 2009 |
Real Estate Values: The Real Truth
Seeking Alpha
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The Housing Crisis: Getting a Ground-Level View
New York Times
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10 best and worst housing markets of the first quarter
WalletPop
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House prices to fall further: report
The Age
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| Multimillion-Dollar Home Price Cuts Yahoo |
| Las Vegas Sees More Mega Home Price Declines Overall, the median price of homes sold in Southern Nevada, including Laughlin and Mesquite, fell 40 percent in the first quarter to $150,000 or $84 per square foot, according to San Diego-based DataQuick. LasVegasSun |
| Home Value Still A Long Way To Fall In States like California, Arizona and Florida businesswire.com |
Beware of home scammers using Craigslist
Houston Chronicle
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Now You Can Short Housing
NewsMax.com
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Global Agenda: More housing blues
Jerusalem Post
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Median home price drops 9 percent in Baltimore area
Baltimore Sun
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| Friday, May 15, 2009 |
No sign of foreclosures slowing - San Diego
North County Times
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California Home Prices Plunge, And State Faces Need For US Aid
24/7 Wall St.
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Will the 'shadow inventory' stunt a housing recovery?
Los Angeles Times
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| Most US houseowners still In Denial About Home Price Direction reuters.com |
| The Secrets of the Federal Reserve Infowars.com |
Slow Start to US Plan for Modifying Mortgages
New York Times
But the modifications may not be enough for the underwater homeowners. “In many ways, we are kicking the can down the road,” Mr. Zandi said. ...
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How to Relocate for Work When Your Home's Underwater
U.S. News & World Report
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A Solar Solution To The Foreclosure Problem
Forbes
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Obama's Stimulus Makes Me LOL
University of Central Florida
... are getting more angry that their tax dollars and their children's tax dollars will be used to bail out those most responsible for our current problems. ...
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| Thursday, May 14, 2009 |
| National Median Home Price Sinks $52,900 Below 2006 Peak! Median Home Price History |
Foreclosures: 'April was a shocker'
CNNMoney.com
A record number of foreclosure filings took place during April, but the number of repossessions fell 11%. By Les Christie, CNNMoney.
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Tax Credit as Mortgage Down Payment Now Official Federal Government Policy
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| Home price Forecast: Falling Home Prices For At Least 2 More Years  As adjustable mortgages reset to a larger degree through mid-2011, home price will most likely continue decreasing for at least 2 more years! See Full-Size Chart Here |
SEC may charge Countrywide's Mozilo
CNNMoney.com
By Tami Luhby, CNNMoney.com senior writer NEW YORK (CNNMoney.com) -- Staffers at the Securities and Exchange Commission are recommending that the agency file civil fraud charges against Countrywide co-founder Angelo Mozilo, according to a published ...
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A Federal Program Helps Flip Houses on Long Island
New York Times
The program is meant to bring back higher home values in neighborhoods hard hit by foreclosures. “Most minority communities have been hit heavily with ...
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Median home price drops to $169K -Cali
Bizjournals.com
The Sacramento-area's median-home price plummeted almost 35 percent, as the hard-hit housing market continues to battle an abundance of foreclosures and ...
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Foreclosures hit record rate; divorce and job loss still main factors
Philadelphia Inquirer
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Will Renting Be The Undoing Of Home Prices?
24/7 Wall St
CNBC ran a brief segment on the number of people who have decided to rent homes and apartments rather than buy them. The point of the reporting was simple. ..
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Only 43 homes built in three months? Must be Miami.
Christian Science Monitor
While the property crash and home-construction slowdown are familiar stories across America, south Florida is at the epicenter of the crisis, ...
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Why You Can't Listen To Greenspan Or NAR On Housing Prices
NuWire Investor
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How the US govt fixed the bank stress tests
Daily News & Analysis - 2 hours ago
It has been assumed that in a worst-case scenario, home prices will fall by 22% in 2009. The Case-Shiller Index, which is a measure of which way the real ...
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| Tuesday, May 12, 2009 |
Stress-Test America
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Goldman to Pay $60 Million in Subprime Settlement
Bloomberg
The bundling of the riskiest type of mortgages into securities turned the US housing slump into a global recession as foreclosures deflated bond values and ...
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Orange County foreclosures: down but far from out - Cali
Los Angeles Times
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Metro Detroit median home sales prices fall 51.1% from 2008
Detroit Free Press
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| 2009 Housing False Bottom blog.youwalkaway.com |
| Foreclosure Firestorm Ahead CNBC.com |
| HSBC Bank Says 2009 Will Be "Tough" as US Bad Debts Rise bloomberg.com |
Where US Homeowners Are Most In Debt
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Chat with Ron Paul tipped Tim Walz to support audit of Federal Reserve
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Man Preyed on Over 400 People in Home Foreclosure Scheme
San Diego 6
SAN DIEGO - A man accused with nine other people of stealing hundreds of thousands of dollars in a home foreclosure scam pleaded guilty Tuesday to seven ...
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| Monday, May 11, 2009 |
| Here's what your real estate broker won't tell you: Home prices still have a way to fall before hitting the much sought after “bottom. Where's Bottom?
Worcester Business Journal
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Rich default on luxury homes just like subprime victims
Chuck Dayton put down a quarter of the $950,000 purchase price when he bought his house in Newport Beach, California, in 2004. He was making $500,000 a year with his drywall company and he expected home values to keep rising.
Jerusalem Post |
Foreclosure wave slams suburbia - Illinois
Crain's Chicago Business
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Are Banks Making Short Sales a Long Process?
RisMedia.com
During that same time, foreclosures increased to 80 percent of all sales from 70 percent. The median price of a short sale in the first quarter was $184250, ...
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Continued Turmoil on Financial Markets
Center for Research on Globalization
The inventory of existing homes continues to mount with foreclosures making up 60% to 75% of sales by speculators. Bruce Bent, the inventor of money market ...
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| Stimulus Jobs No Match For Still Overvalued Housing Despite Declining Home Prices, Most of the Jobs Created Through the Stimulus Do Not Pay Enough to Afford a Home |
Families combine resources to buy homes
San Francisco Chronicle
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Home loan payments still burden consumers
Credit.com News
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Questions for Ben Bernanke
Washington Post
The Federal Reserve enjoys a monopoly over the flow of our money and credit but has never been completely transparent and accountable to Congress. ..
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| Friday, May 08, 2009 |
Stress tests find 10 big banks need $75B more
The Associated Press
As home prices fell and foreclosures increased, banks took huge hits on mortgages and mortgage-related securities they were holding. ...
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Yale's Robert Shiller on the Outlook for Home Prices
TIME
I was struck by an LA Times article that I saw from 1886, after the Los Angeles housing bubble. The writer said something like Californians have learned. ...
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Bernanke Favored Rate Cuts Tied to Bubble
Washington Post
... to very low levels in 2003, steps that some analysts argue stoked the housing and credit bubbles that are now unfurling with disastrous consequences. ...
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| Want to Sell Your Home? Lower Your Price BusinessWeek |
The Biggest Mistake We Made During the Housing Boom
Contrarian Profits
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| Rich Default on Luxury Homes Like Subprime Victims Bloomberg |
| 5 Costs of Buying a Home You Didn't Consider NYTimes.com |
Increase in Housing Transactions Does Not Equal Recovery
Seeking Alpha
Somehow a smallish uptick in mortgage rates is devastating for title insurers but good for new homebuilders. Only in the horde trading of the stock market. ...
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| Home Prices Low, But Still No Bargain WSJ.com |
$73,000 salary needed to qualify to buy a Chicago home; renters also squeezed
Chicago Tribune
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| Thursday, May 07, 2009 |
Surge in Underwater Mortgages Forces Obama Administration to Review Loan Limits
Money Morning
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Almost a Quarter of US Homeowners Are Underwater
Bloomberg
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Are Home Prices Really As Low As "Experts" Say?
CNBC
I want to throw out an idea, just an idea mind you, so be gentle in your inevitable attacks... Is it just possible that the nationwide home price ...
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Home prices drop 8.5%, to $585000 - Hawaii
Honolulu Advertiser
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Federal Homeownership Subsidies Have Left A Trail Of Catastrophes
Investor's Business Daily
Soon after the October 1929 Wall Street crash, the housing market began to collapse. Defaults exploded; by 1933, some 1000 homes were foreclosing every day. ...
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Trophy homes lose gilt - California
The Standard
In Southern California, the 56500-square-foot Candy Spelling mansion, which came on the market in March, defines the upper limit of the housing market at ...
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12 totally awesome Google Maps
CNET News\
If you are looking for properties in CT, MA, OR, RI, WA, VT, the Emerald Coast or in Miami FL, Long Island, or in San Diego CA you can search the MLS the ...
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What the "average" home looks like now: North Bay - San Francisco
San Francisco Chronicle
This 3-bed unit in Novato is priced at $295K, just over the $290K Bay Area median home price. But here we go. In April the median price paid for all new and ...
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In South Florida, most people who bought homes during boom are underwater
MiamiHerald.com
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| Wednesday, May 06, 2009 |
Home prices continue to drop - Nevada
Lahontan Valley News
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Home sales boom in 'busted' markets
Inman.com
In California, for example, the median price of a home in March 2009 was $253000, which was 39 percent lower than March 2008. So the market there doesn't ...
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We Can't Subsidize the Banks Forever: Government has to show it can handle major insolvencies
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House-Price Drops Leave More Underwater
Wall Street Journal
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| Ron Paul Rips Fed Chief Ben Bernanke About His Economy Blunders and Lack of Transparency click here to watch larger video |
The housing slump: More people sell cheap to buy cheap
KGET 17
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Home prices, sales still falling - Connecticut
Connecticut Post
It was the steepest drop in home prices for any quarter since the Warren Group began tracking the state's prices changes in 1987.
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States turn federal tax credits into cash for would-be homebuyers
Accountingweb.com
Missouri was actually the first state to address the need to help homebuyers with special loans, known as "tax credit advances. ..
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Housing crunch: New homes bulldozed
abc7.com
The area was supposed to have 16 new homes in Victorville off the 295 in Bear Valley Road, but the homes never sold in the midst of the housing crash. ...
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| Tuesday, May 05, 2009 |
Pending home sales climb, lifting recovery hopes
Los Angeles Times
By Peter Y. Hong A reported bounce in US home sales Monday boosted hopes that the housing downturn was nearing its end and that the broader economy was ...
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Next potential mortgage crisis prompts call for 'housing czar'
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What Happened to Riverside County? - SoCal
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Extremely High Debt Levels Ensure Subdued Economic Recovery in 2010
The Market Oracle
In the past year, the median price of a new home has fallen from $251000 to $200900, a drop of 20%.After retail sales collapsed in the fourth quarter, ...
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Report: Falling home prices defy rising demand
Bakersfield Californian
Even if jobs come back, there is still a second wave of foreclosures to contend with as so-called option adjustable rate mortgages reset. ...
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US Home Prices May Be Lost for a Generation: John F. Wasik
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Affordable Homes, via Foreclosures - NY
New York Times
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Swine Flu, 9/11 Flashbacks And Housing
Forbes
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Federal Reserve Bank cause of current and past economic woe
Selma Times-Journal
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DR Horton Reports Eighth Quarterly Loss on Slump
Bloomberg
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| Friday, May 1, 2009 |
Mortgage Bill Fails in Senate
Washington Post
Legislation that would have allowed bankruptcy judges to modify mortgages died in the Senate yesterday, handing the Obama administration a significant ...
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I dodged the housing crash
lovemoney.com
Cliff D'Arcy foresaw the coming housing crash and sold his family home four years ago to wait out the falls as a tenant. How did this decision turn out? ...
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| United States House Representative Barney Frank in 2005: "What Housing Bubble?" |
Invest in Real Estate Without owning a Home?
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Are Housing Prices Still Too High?
MainStreet
Gone are the days of “stated income” and so-called “no doc” loans where buyers were not required to prove they could afford the property. ...
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Why Didn't the Housing Bubble Mess With Texas?
Wall Street Journal Blogs
Others have argued that high property taxes and other land regulations in Texas discouraged the Lone Star State from jumping into the housing boom with two ...
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HR 1207 has 110 Cosponsors. Way to go Ron Paul.
Gather.com
As I write, HR 1207, my bill to audit the Federal Reserve, currently has 110 cosponsors in the House of Representatives. This piece of legislation is ...
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Bank Of America's Version of “Economic Recovery”
Clarksville Online
According to a 2008 salary survey by PayScale.com, the median salary of BofA bank tellers was only $23597. The bank is also letting taxpayers foot the bill ...
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