Housing Optimists Are “Not Paying Attention” to the Facts, Says Dean Baker
May, 13 at 12:25 am
Posted in The Economy, Real Estate | 1 Comment »
The housing crash will continue
December, 2 at 6:09 pm
At least that is what Mark Zandi says. According to Reuters:
NEW YORK (Reuters) - The meltdown of the U.S. housing market is not over yet, and home prices will soon start trekking downward again as a flood of foreclosures looms, a well-known economist said on Wednesday.
“This lull in foreclosures sales has resulted in the price gains in the past few months,” he said.
“Foreclosure sales will increase, and home prices will resume their decline by early 2010 as mortgage servicers figure out who will not qualify for a modification,” he said.
Posted in Credit, Credit Crunch, Bailout News, Real Estate | 6 Comments »
FDIC closes 9 more banks on Friday
October, 31 at 1:01 pm
The financial system collapse continues. AP via Yahoo Finance reports that:
Regulators on Friday shut California National Bank of Los Angeles and eight smaller related banks as the weak economy continues to produce a stream of loan defaults.The banks closed by the Federal Deposit Insurance Corporation were in California, Illinois, Texas and Arizona. They were divisions of privately held FBOP Corp., a bank holding company based in Oak Park., Ill.
This is going to go on for at least a couple of more years.
Posted in Politics, Bailout News, The Economy, Real Estate | 8 Comments »
How to Buy a Bank-Owned Home
October, 21 at 7:22 am
Posted in Real Estate | 1 Comment »
Where did the Billions in Bank Bailouts Go? - Sand, Dirt, Fines & Ghostowns
October, 14 at 8:11 am
Posted in Politics, California Housing Crash, The Economy, Real Estate | 3 Comments »
Massive Defaults Coming in Real Estate - 30% - 50% Reductions
October, 12 at 10:09 am
Posted in Credit Crunch, Politics, California Housing Crash, The Economy, Real Estate | 1 Comment »
Hyperinflation Nation Part 3/3
October, 11 at 10:07 am
Posted in Credit Crunch, Politics, The Economy, Real Estate | No Comments »
Hyperinflation Nation Part 2/3
October, 10 at 2:06 pm
Posted in Credit Crunch, Politics, Bailout News, The Economy, Real Estate | No Comments »
Hyperinflation Nation Part 1/3
October, 9 at 2:06 am
Posted in Credit Crunch, Politics, The Economy, Real Estate | No Comments »
2010 will bring problems for the US Economy
October, 6 at 5:12 pm
That’s basically what Pimco’s Mohamed El-Erian told CNBC Tuesday.
“We think that the second half of 2009 will be turbo charged by the stimulus and there will be a hand off to the consumer and that’s what you want,” El-Erian said. “But it’s going to be challenging. We worry that 2010 is going to have sluggish growth and high unemployment and lower valuations.”
As for the run up in gold prices, El-Erian said it’s not a good sign for the US economy.
Posted in Credit, Credit Crunch, The Economy, Real Estate | No Comments »
