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News Archives
April 2009
| Thursday, April 30, 2009 |
Vegas Home Prices Lowest Since 2000
Fox5 KVVU
That's according to a report in Bloomberg, which said the continued surge in foreclosures pushed the median home price to $144000 last month. ...
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Phoenix Leads the Way Down in Home Prices
New York Times
According to the National Association of Realtors, the median price of a home in the United States, which peaked above $230000 in 2006, has fallen to ...
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Planners: Government attempts to mitigate foreclosure not yet having major impact
Finance and Commerce
Blue added that he's been struck by how pervasive the foreclosure problem has become. In Highland Park, where the median family income is $100000, ...
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Zillow iPhone App: Using GPS to Compare Home Prices
Mashable
With over 8 million visitors a month, Zillow is cream of the crop when it comes to real estate search and community. Home-buying information as detailed as ...
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Obama administration expands housing aid plan
The Associated Press
While home prices soared, such mortgages were even extended to borrowers with poor credit scores and people who didn't provide proof of their incomes or ...
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Stop talking up the housing market!
lovemoney.com
And that could reset the same property timebomb that was noisily ticking before the crash. I don't want to go back to the future. I've been there, ...
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SEC charges ex-American Home Mortgage executives
Reuters
It said American Home Mortgage originated the majority of its loans in 2006 on a "stated income" basis without verifying the borrower's income. ..
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| Realtors Spent $12M Lobbying in Past Two Quarters chartingtheeconomy.com |
| Thank you Danny K. for your support ($25 donation) |
| Wednesday, April 29. 2009 |
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Home Prices Post 18.6 Percent Annual Drop
Newsroom America
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Home prices in Palm Beach, Broward down 30 percent - Florida
Sun-Sentinel.com
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Home Prices Still Dropping - Just Not As Fast
Seeking Alpha
Unfortunately, as home prices continue to fall, even renters are put at risk. Everyone who keeps their savings in banks and/or is employed by someone that ...
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The Great U.S. Housing Market Depression, America Stop Thinking about Homes as Investments
The Market Oracle
You know those guys who are trying to reinflate the housing bubble — Tim Geithner, Ben Bernanke, Larry Summers — President Obama's posse of the ethically ...
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| Home Prices Down 31% from Peak (includes charts) Option ARMageddon |
| Beware the mainstream media's skewed agenda - columnists or real estate salesmen? Examiner.com |
Trying again to offer troubled borrowers Hope
Los Angeles Times
But the program didn't do anything about second mortgages, nor did it address many troubled borrowers with loans that were deeply underwater (that is, ...
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| Tuesday, April 28, 2009 |
Cramer: Housing Will Bottom June 30
NewsMax.com
“But first that market has to bottom. Last year I predicted that housing would bottom by June 30 of this year.” And what does Cramer ..
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California home sales fell 16% from Feb. to March
Ventura County Star
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South Bay median home price down 20.1% in March from year ago - Los Angeles, CA
Daily Breeze
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Americans Rally Nationwide to End the Fed
The New American
Attendees protested in front of every one of the dozen Federal Reserve Bank branches and expressed support of Ron Paul's HR 833, which would abolish the Fed ...
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Peter Schiff Addresses End the Federal Reserve Rally in New York City
Gold Seek
Original footage of a very rowdy crowd at an "End the Fed Rally" with speaker Peter Schiff. Mr. Schiff is one of the few non-biased investment advisors (not ...
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KB Home introduces new home priced at $89999
The Daily Territorial
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Home Equity Line of Credit Closed?
MonitorBankRates.com
In a market of rising home prices and the belief that home prices will never decline across the entire US banks lowered their lending standards. ...
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US Economy Needs Interest Rate of Minus 5%: Report
CNBC
As rates cannot be cut below zero, the Fed's internal research suggests it should maintain unconventional policies that provide stimulus roughly equivalent ...
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Bank of America to retire Countrywide brand
NASDAQ
By retiring the Countrywide brand, Bank of America will do away with a name that is still widely associated with the excesses that led to the housing crash, ...
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Robert Shiller at SPU—Psychology and the Housing Market
Seattle Bubble
By The Tim on April 27th, 2009 at 5:37 PM · No Comments Increasingly-famous economist and housing market sage Robert Shiller spoke in Seattle this morning ...
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| Monday, April 27, 2009 |
More tales from the housing bust
Online Journal
And now that Obama's foreclosure moratorium is over, delinquencies are stacking up faster than ever before, auguring another wave of foreclosures. ...
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Some houses in Sacramento area now cost less than $25000 - Cali
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Homebuyers hope to time the bottom
The Associated Press
Compared with March of last year, sales are only up in 10 cities — all of them saturated with deeply discounted foreclosures. In San Diego, Los Angeles, ...
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Home prices capsize on the Oregon coast
Hillsboro Argus - OregonLive.com
(AP) — FLORENCE, Ore - They were a hot commodity three years ago: Milliondollar houses with frontage on the ocean, a lake or a river around ...
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Banking system may face credit-card crisis
Boston Herald
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A Housing Crash Update
CounterPunch
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Why can't conservatives admit George Bush broke America?
Salon
The "blame Bush" approach also ignores the way the Clinton-era revisions to the Community Reinvestment Act and pressure from the Department of Housing and ...
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Freddie Mac's March Portfolio Up Annualized 65.8 Percent
Visit Bulgaria
The government in its efforts to stimulate the US housing market in the midst of its worst downturn since the Great Depression, is now relying heavily on ...
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| Friday, April 24, 2009 |
Foreclosed homes not always a bargain - Indiana
WTHR
Carmel - Thousands of homes in Indiana are being sold at rock bottom prices, far below even the median home price. But these so-called great deals aren't ..
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New data on jobs, housing signal no recovery near
The Associated Press
The median sales price plunged to $175200, from $200100 a year earlier, but up from $168200 in February. The results were "a little disappointing" given ...
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Midwest home sales post 7 pct annual decline
The Associated Press
... of foreclosures keeping home prices down. The AP-Re/Max report showed sales in Chicago fell almost 29 percent from March a year ago and the median home ...
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Experts Predict Las Vegas Home Price Crash Continuing
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Bay Area, California Mortgage Default Notices Soar
CBS 5
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Housing sales, prices down in March - Ohio
Cincinnati.com
Median prices also dropped last month: down 12.2 percent to $114000 in Southwest Ohio and down 17.2 percent Northern Kentucky to $115000. ...
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California default notices reach record high
Bizjournals.com
The median origination month for last quarter's defaulted loans was July 2006. That's only four months later than the median origination month for defaulted ...
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Deals of the Day: BofA's Lewis–The Government Made Me Do It
Wall Street Journal Blogs
The Government Asked for My Silence: Bank of America CEO Ken Lewis has testified that Federal Reserve Chairman Ben Bernanke and then-Treasury Secretary ...
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Don't stop housing crash, Bank man warns
This is Money
A top Bank of England official today warned the Government against trying to prevent the housing crash. Voice of caution: Bank of Egnland man Paul Fisher ...
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| Thursday, April 23, 2009 |
Freddie Mac Official Dead in Apparent Suicide
Washington Post
By Zachary A. Goldfarb and Jonathan Mummolo The acting chief financial officer of troubled mortgage giant Freddie Mac was found dead in his Fairfax County ...
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US Feb home prices up, down 6.5 pct in year - FHFA
Forbes
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Bay Area foreclosure filings surge - Cali
San Jose Mercury News
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Report: Valley home prices fall to 2001 levels
Las Vegas Review - Journal
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| The Bottom for Housing Is Probably Not Near NYTimes.com |
Report: Reckless mortgage lending in late 2006 fueled California default wave
San Jose Mercury News
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Secondary Sources: Housing Bottom, Economists, Missing Witness
Wall Street Journal Blogs
By Phil Izzo No Housing Bottom: David Leonhardt of the New York Times says the housing bottom may still be some time away. “The glut of foreclosed homes
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| A Crash this way Cometh 321gold |
| Wednesday, April, 22, 2009 |
| Housing Crash - The Worst Lies Just Ahead! Why the home price declines will take a severe turn for the worst...very soon..... Housing Bubble Smackdown: Bigger Crash Ahead |
Houston home sales, prices down again in March - TX
Houston Chronicle
The median price of Houston-area home was $145000 last month. That was down 4 percent from this time last year, but it's the highest level so far in 2009. ...
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Providence sees home prices drop by half - Rhode Island
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Housing's Newest Threat: More People Are Losing Their Jobs
CNBC
This current housing crash has distinguished itself from all previous because it was not caused by any economic downturn. Quite the contrary, it caused the ...
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Home Price Overvaluation on the Decline
U.S. News & World Report
IHS Global Insight's US housing valuation analysis for the fourth-quarter 2008 shows that the housing crash has worked to reduce overvaluation in ...
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For Housing Crisis, the End Probably Isn't Near
New York Times
You can make an argument that the end of the housing crash is near. But that's not what I found at the auctions. “This is a perfect storm of opportunity,” ...
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Fannie, Freddie Defaults Rise as Borrowers Cite Lower Income
Bloomberg
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Crisis as a way to build a global totalitarian state
RT
May we remind you that Ron Paul is one of the few American politicians speaking for the closing of the Federal Reserve System as a secret unconstitutional ...
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| Tuesday, April, 21, 2009 |
Housing market bottom still out of sight - North Carolina
C-Ville Weekly
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| Killing the Myths of Homeownership ReallyF$%kedHomeowner.com |
IMF sees 4 trillion dollars in losses from financial crisis - Update
Earthtimes
The US housing market remains at the epicentre of the financial crisis. About 2.7 trillion dollars in writedowns will come from mortgage-related assets in ...
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| charles hugh smith-Why Housing Is Not Coming Back CHS |
| Detroit councilman walks away from his mortgage sacbee.com |
Six mortgage lenders to participate in Obama housing plan
Los Angeles Times
The Obama administration on Wednesday named the first six companies participating in a $75-billion program designed to help millions of struggling ...
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| Monday, April, 20, 2009 |
Today's Housing Bubble Post -- A New Wave Of Foreclosures and Price Drops Coming
Seeing the Forest
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Are Banks Withholding Foreclosed Homes to Prop Sales? - SoCal
RisMedia.com
The median price of an Inland house has dropped 43 percent in San Bernardino County and 39 percent in Riverside County in the past year, but the rate has ...
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A bumpy real estate road remains
MiamiHerald.com
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Lake foreclosure filings hit record in March - Florida
Orlando Sentinel
The median price for a bank-owned home sold in Lake County last month was $133700. The median price for a "normal" sale in Lake was $143950, according to
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LENDERS BENDING TO AVOID FORECLOSURE
The Free Lance-Star
That's been blamed for the 30 percent to 40 percent drops in median housing prices over the past few years in the area. Because of these effects, ...
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Trifecta of Housing Data Due in Week to Come
FOXBusiness
One factor that could influence sales volume of existing home is the surge in foreclosures. The National Association of Realtors, which compiles the ...
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When will the housing market hit bottom?
Independent
Is the worst over, therefore, and when the history of this housing crash is written, will its end date be said to be 2009? The answer for many not involved ...
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California Unemployment at Record 11.2 Percent
Visit Bulgaria
Also, Levy adds, California has had greater exposure to the housing downturn, suffering related payroll losses in construction and finance.
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'Bail-out working people - Not the Banks'
Center for Research on Globalization
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Roubini, Abedian Predict Prolonged Recession, Depression
Midas Letter
The US is now in the 15th month of a U-shaped recession, in line with the forecasts of those like Nouriel Roubini, the New York University professor who ...
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What You Need to Buy a Home
CNBC
No longer are mortgage lenders accepting stated income, no ratio loans (mortgage lenders were not examining the debt to income ratio), and low documentation
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| Friday, April, 17, 2009 |
| Why a 50% Drop in Housing Is Not the Bottom Charles Hugh Smith |
Slowing home-price depreciation may signal bottom
San Jose Mercury News
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Foreclosures Yet Again Shot to New Record Highs in March -Washington
Seattle Bubble
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Unemployment Rates Significantly Impacting Southern California's Rental Markets
NuWire Investor
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Home prices still flat as sales rocket 43% -SoCal
San Diego Union Tribune
The county's median price was $285000, unchanged from February and up $5000 from January, MDA DataQuick reported yesterday. Sales skyrocketed to 3020, ...
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Key predictions for the housing market
Investors Chronicle
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It'sa renter's market in Chicago
Medill Reports: Chicago
... for multi-family, 2010 will be worse,” he said, anticipating a recovery of the housing market, driven by lower mortgage rates and lower home prices.
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Real Estate Plunge Spreads To Malls
CBS News
... of an impending crash in the commercial real estate market. (CBS) Buying, selling, or just trying to stay afloat? Get the latest on the housing market. ...
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| Hawaii foreclosures soar 503% in March honoluluadvertiser.com |
| Why a 50% Drop in Housing Is Not the Bottom Charles Hugh Smith |
Housing starts plunge in March
Los Angeles Times
California, Nevada and Arizona have some of the largest surpluses of homes constructed during the housing bubble that are either foreclosed or unsold, ...
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| No End Yet for Downturn in Housing, New Data Suggests nytimes.com |
| Thursday, April, 16, 2009 |
Southern California Home Sales Jump Amid Foreclosures
Bloomberg
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Inland foreclosures surge in March after law's delays expire - SoCal
Press-Enterprise
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Will Banks Lead the Way to 1929 Crash Part II?
Seeking Alpha
So much for the Obama administration's housing-rescue plan. Will the unemployment rate exceed 10%? The volatility has been great, stock investing has been ...
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WHO IS THE ‘GREATER FOOL' NOW?
Resource Investor
Below is my edited, paraphrased and enhanced version of how Nouriel Roubini once described it: When you put zero down on the ‘purchase' of your house and ...
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Shiller: Economy Could Still Blow Up
NewsMax.com
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| Wednesday, April, 15, 2009 |
The First Victim of the Housing Bubble Was John Kerry
Synapse
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America is Being Looted
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For many, mortgage lifelines remain out of reach
Arizona Republic
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New York Area Home Prices to Fall 15%, Rosen Says
Bloomberg
“The underwater problem is a big one and needs to be solved,” Rosen said. At least 7.6 million US mortgage holders don’t qualify for Obama’s plan because ...
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The Appraisal Bubble
Public Integrity
But when the market peaked in 2005 and then began its sharp decline, inflated appraisals exacerbated the trouble faced by “underwater” homeowners. ...
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Bankruptcy filings surge in Nevada
Las Vegas Sun
Its analysis found that between 2006 and 2008, personal bankruptcies jumped 118 percent in Nevada and 15 other states with big home price declines vs. an ..
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Alan Grayson and Ron Paul call for audit of Federal Reserve System
Central Florida Political Pulse
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Krugman: 'Right-wing billionaires...manufactured' tea parties
Raw Story
... folks turning up at these events seem a little bit Ron Paul-ish," she noted. "Folks at protests arguing against the legitimacy of the Federal Reserve? ...
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| Tuesday, April 14, 2009 |
Foreclosures still dominate market - California
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Foreclosures beat down home prices further - Florida
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California Home Sales Tank Filling but the Trend Still Leaks
Gerson Lehrman Group
California has become the poster child for housing excess, with foreclosures leading the nation and entire neighborhoods comprised of empty tract homes. ...
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The Decline Continues in Home Prices
American Institute for Economic Research
The US National Home Price Index is a broader composite of single-family home prices. All are constructed from the sale prices of existing homes, ...
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Survey Shows Housing Prices to Fall More
PR.com
Some 52% of all those surveyed said home prices will drop more than half as the US faces its worst deflating housing market since at least the Great ...
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Home Prices will Hit Bottom When Seller's and Agents Have a ...
Gerson Lehrman Group
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Apartment Rents Falling Fast
U.S. News & World Report
The housing crash has hit different markets unevenly, meaning it could still be significantly less expensive to rent than to buy in your local market. ...
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Residents lived through and learned from the Great Depression
Long Beach Press-Telegram
They're sympathetic to today's younger generations who now face almost insurmountable housing costs and a rocky job outlook. But many also have failed to ...
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| The 25 Worst Crashing Housing Markets in America (view story for full-size chart)  |
Before you refinance mortgage, take these steps
Chicago Tribune
If you're underwater with your mortgage, assess how far underwater you are. While federal requirements have changed with regard to refinancing loans owned .
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Feds should prosecute liar loans
Arizona Republic
Why doesn't the federal government prosecute all those people who lied on their mortgage applications and have gone into foreclosure, leaving us to bail ...
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When will house prices bottom?
Moneywise Magazine
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Reporters threatened with arrest for filming private Federal Reserve building!
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Debt is Not Money
Huffington Post
(And with a fractional reserve banking system like we have, that growth is created mostly by banks lending money and creating it out of thin air in the ...
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| Thank you for your support: Kevin A ($20 donation) |
Monday, April, 13, 2009
Open house, anyone? 1 in 9 homes sit empty
USA Today
The surprising increase was driven by buyers taking advantage of big discounts on foreclosed homes. The median sale price was $165400, down 15.5% from a ..
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San Bernardino, Riverside counties home surplus is easing - Southern California
Press-Enterprise
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In Murrieta, a fading American dream - Southern California
Los Angeles Times
Hit hard by job losses and foreclosures, the city's food pantry traffic has quadrupled, and there's even talk of building a shelter. ...
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Las Vegas Home Values Plummet 39 Year Over Year Home Prices Continue To Drop KXNT |
Home Prices ETFs Set To Launch On April 27
IndexUniverse.com
A pair of exchange-traded funds offering the first direct access to the S&P Case-Shiller Composite-10 Home Prices Index is set to launch on April 27, ..
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| Did They Really Believe House Prices Could Not Go Down? AMERICAN.COM: A Magazine of Ideas, Online |
US Financial Crisis Could Lead to New World Order
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Are FHA loans next big risk?
Columbus Dispatch
The housing bubble eventually burst, and those toxic loans helped propel the country into the worst recession since the Great Depression. ...
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| Owners demand lower house valuations, unless talking to buyers reuters.com |
Alan Keyes claims Ron Paul learned of Federal Reserve from him
Independent Political Report
Alan Keyes, in this video, which i’ll embed below, explains his opposition to the Federal Reserve. He claims, at the 1:20 minute mark, that Ron Paul learned ...
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The Post Still Only Talks to People Who Missed the Housing Bubble
Tapped
It seems that the people who could not see an $8 trillion housing bubble are now optimistic about the economy's prospects. That's what the Washington Post ...
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Thursday, April 9, 2009
Tuesday, April 7, 2009
Consumers fall behind on loans at record rate
USATODAY.com
Scoop: Housing Bubbles & Deceit
Scoop.co.nz
Monday, April 6, 2009
Report finds U.S. mortgage problems increasing
SFGate
Why lower interest rates won’t lead to higher house prices
Interest.co.nz
Thursday, April 2, 2009
Housing in a Death Spiral, Taking the Mortgage Industry with It
SeekingAlpha
G20 Protesters Set London Financial District Ablaze
Gnews.com
Wednesday, April 1st, 2009
Severe Home Price Decline Continues in February!
New Case-Shiller 20-city home price index indicates
home value price-plunge showing no signs of slowing.
The price declines last quarter are amongst the worst...
Severe Home Price Plunge Continues
Click for larger chart / story
Abandoned Home Problem so Bad in Detroit, Mayor Suggests
Shutting Down Sections of City
Flint, MI, Considers Shutting Down Quadrants of City
Infowars.com
In Homeowners’ Latest Woe, Banks Are Skipping Foreclosures
NYTimes.com
