Oct - 25th

One honest realtor - Is that possible?

Posted at 3:15 pm | Filed Under California Housing Crash, The Economy, Real Estate

Oct - 23rd

Foreclosures in California increase 228%

Posted at 2:57 pm | Filed Under California Housing Crash, Real Estate

The housing crash continues in California. According to the LA Times: “A record number of homes were lost to foreclosure in California over the last three months, up 228% from last year to a high of 79,511 homes. MDA DataQuick reported that more homes were taken back by lenders in the three months ended Sept. […]

Oct - 23rd

Foreclosure filings up 71% in Q3

Posted at 10:26 am | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate

This from USA Today:
WASHINGTON (AP) — The number of homeowners ensnared in the foreclosure crisis grew by more than 70% in the third quarter of this year compared with the same period in 2007, according to data released Thursday.
Nationwide, nearly 766,000 homes received at least one foreclosure-related notice from July through September, up 71% from […]

Oct - 22nd

Say “hello” to the 2008-2011 recession

Posted at 4:08 pm | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate

More signs that the economy is already in a recession and that the worst is yet to come. The Dow dropped more than 500 points today showing that investors are nervous about the economy. CNBC reports:
If you think the economy looks bad now, imagine this:
* An unemployment rate above 10 percent for almost a year.
* […]

Oct - 20th

Fitch: Home prices need to fall another 10%

Posted at 4:36 pm | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate

More bad news for the housing market. When the economy moving into a recession, Fitch ratings said today that “The rate of U.S. home price declines will slow in the coming months, though another 10% decline is in the cards before home prices begin to exhibit more stability, according to Fitch Ratings. With prices returning […]

Oct - 16th

Don’t look now but mortgage rates are going up

Posted at 10:33 am | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate

More bad news for the housing market. Now that banks are actually requiring down payments and verification of income (what a concept!!!), mortgage rates are going up, even as the Fed desperately tries to bring short term rates to zero.
According to CNNMoney:
Mortgage rates spike - biggest jump since ‘87
NEW YORK (CNNMoney.com) — Low mortgage rates, […]

Oct - 14th

California economic collapse

Posted at 7:21 am | Filed Under Bailout News, California Housing Crash, The Economy

Embedded video from CNN Video

Oct - 10th

Foreclosure Alley - California housing crash

Posted at 7:22 am | Filed Under Politics, Bailout News, California Housing Crash, The Economy, Real Estate

For the past few years, the Inland Empire in Riverside County has been one of the fastest growing counties in the state - home to a major housing boom. But now the Inland Empire is pretty much the poster child for the foreclosure crisis. In the newer developments, house after house sits vacant […]

Oct - 1st

Why the bailout won’t fix the economy

Posted at 6:02 pm | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate

Yahoo Finance has a great article showing what will happen after the bailout is passed. The main points are the following:

Hank Paulson & Co. survey the banking industry and decide who will stay and who will go.
Within a month or two, Paulson buys $250 billion of worthless assets.
Confidence improves modestly, but banks continue to hoard […]