Dec - 2nd

The housing crash will continue

Posted at 6:09 pm | Filed Under Credit, Credit Crunch, Bailout News, Real Estate

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 […]

Oct - 31st

FDIC closes 9 more banks on Friday

Posted at 1:01 pm | Filed Under Politics, Bailout News, The Economy, Real Estate

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 […]

Oct - 10th

Hyperinflation Nation Part 2/3

Posted at 2:06 pm | Filed Under Credit Crunch, Politics, Bailout News, The Economy, Real Estate

Aug - 3rd

Roubini says: Double-Dip Recession still possible

Posted at 12:23 pm | Filed Under Politics, Bailout News, The Economy, Real Estate

CNBC reports the following:
The United States, Europe and Japan still face the possibility of a double-dip recession and at the very least will experience below-potential economic growth for the next couple of years, economist Nouriel Roubini told CNBC Monday.
The double-dip is still possible because of very large budget deficits that are being monetized by monetary-policy […]

Aug - 1st

More bank failures ahead

Posted at 2:18 pm | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate

Embedded video from CNNMoney.com Video

Jul - 30th

The next wave of foreclosures

Posted at 3:32 pm | Filed Under Politics, Credit Crunch, Bailout News, California Housing Crash, The Economy, Florida Housing Crash, Real Estate

Excellent report on CNNMoney:
Cities in just four states — California, Florida, Arizona and Nevada — captured 29 of the top 30 places with the highest foreclosure rates, according to a report issued by RealtyTrac on Thursday. Greeley, Colo., was the only outsider, coming in at 29th.

Many cities with populations larger than one million experienced rapid […]