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 […]
Sep - 30th
Go Viral: STOP THE BAILOUT OR…. DEPRESSION?
Posted at 9:16 pm | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Sep - 30th
S&P/Case Shiller: Home prices fall 16.3%
Posted at 9:22 am | Filed Under Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
The housing market keeps getting worse. Just released numbers from the S&P/Case Shiller Index indicate that the worst is not over yet. According to Reuters:
Home price drops hit fresh records in July: S&P
NEW YORK (Reuters) - Prices of single-family homes plunged a record 16.3 percent in July from a year earlier, extending declines that have […]
Sep - 25th
Call and email Congress and protest the Wall Street Bailout
Posted at 11:19 am | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Folks, if you haven’t called your representative in Congress to protest this Wall Street bailout, please call now. Although some sort of bailout will pass Congress, we can still make sure to minimize the loss for taxpayers. Your calls are making a difference.
According to the New York Times:
Constituents Make Their Bailout Views Known
WASHINGTON — Americans’ […]
Sep - 24th
Existing-home sales in the West fall by 5.3 percent
Posted at 10:33 am | Filed Under Politics, California Housing Crash, The Economy, Real Estate
The horrible news for the housing market keep coming. This is what the NAR reported today:
Nationally, existing-home sales – including single-family, townhomes, condominiums and co-ops –declined 2.2 percent to a seasonally adjusted annual rate1 of 4.91 million units in August from an upwardly revised pace of 5.02 million in July, but are 10.7 percent below […]
Sep - 23rd
How flippers helped inflate the housing bubble
Posted at 2:26 pm | Filed Under Politics, California Housing Crash, The Economy, Real Estate
This is an excellent story in the Orange County Register:
In July 2007, Vijay and Supriti Soni of Corona del Mar paid $440,000 for a home at 2129 W. Civic Center Drive in Santa Ana.
Five weeks later, they resold the house to Javier Hernandez – the family gardener and handyman – for $660,000. That’s a 50 […]
Sep - 23rd
The housing crash continues
Posted at 12:27 pm | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
The horrible housing news keep coming. According to MSNBC:
Home prices tumble 5.3 percent
WASHINGTON - Nationwide home prices in July fell a record 5.3 percent compared with a year ago, a government agency said Tuesday, and have now receded to October 2005 levels.
Prices were down 0.6 percent from June on a seasonally adjusted basis, according to […]
Sep - 19th
California unemployment rate keeps going up: 7.7%
Posted at 2:26 pm | Filed Under California Housing Crash, The Economy, Real Estate
California’s unemployment rate reached 7.7% according to what the EED reported today. Orange County’s unemployment rate went up to 5.8%, the highest in several years. This will certainly put even more pressure on the housing market and increase foreclosures.
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