May - 26th
S&Ps/Case-Shiller Home Price Index: More Bad News
Posted at 10:05 am | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Home prices keep going down and according to the CNBC:
The U.S. housing market is in the worst downturn since the Great Depression as a huge supply of unsold homes, tighter lending standards and record foreclosures push down prices.
The S&P/Case-Shiller U.S. National Home Price Index continues to set record declines, a trend that began in late […]
May - 25th
New Wave of Foreclosures about to hit the Housing Market
Posted at 1:28 pm | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
We have been telling you this for some time. The next wave of foreclosures is about to hit the housing market in the next few months and it is going to be ugly. CNBC reports the following:
“We’re about to have a big problem,” said Morris A. Davis, a real estate expert at the University of […]
May - 20th
California in crisis
Posted at 3:57 pm | Filed Under Politics, California Housing Crash, The Economy
Californians live in a dream and it shows when you look at the financial disaster we are in. Great article in the LA Times:
By rejecting five budget measures, Californians also brought into stark relief the fact that they, too, share blame for the political dysfunction that has brought California to the brink of insolvency.
Clogged […]
May - 19th
Even the Rich are suffering these days
Posted at 11:24 am | Filed Under Bailout News, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
We have been saying this for a long time. Rich people are the last ones to suffer a recession but they are not immune to it. It has taken a little long but the rich are finally joining the rest of the country. According to the Wall Street Journal:
Fire-sale auctions of mansions, yachts, sports cars […]
May - 17th
What’s your American Dream?
Posted at 3:03 am | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
May - 14th
California is getting ready for a disaster
Posted at 6:42 pm | Filed Under Politics, California Housing Crash, The Economy, Real Estate
According to the LA Times:
The governor offered two scenarios. The first was grim, to address a $15.4-billion deficit that finance officials say the state will face even if voters approve a set of ballot measures Tuesday. The second was devastating, intended to close a $21.3-billion gap if the measures fail.
The governor’s plan, unveiled this afternoon, […]
May - 13th
Fraud By Mortgage Companies Key Cause of Foreclosures
Posted at 12:46 am | Filed Under Bailout News, Credit Crunch, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Thanks MelodyofLove for providing this video
May - 12th
Home prices keep going down
Posted at 12:44 pm | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
This from Yahoo Finance:
WASHINGTON (AP) — Home prices fell in nearly nine out of every 10 U.S. cities in the first quarter of this year as first-time buyers looking for bargains dominated the market.
The National Association of Realtors said Tuesday that median sales prices of existing homes declined in 134 out of 152 metropolitan areas […]
May - 6th
20% of homeowners are “underwater”
Posted at 10:17 am | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
According to CNNMoney:
More than 20% of American homeowners owe more on their mortgage debt than they can sell their homes for, according to an industry report released Wednesday.
The real estate Web site Zillow.com reported that 21.8% of all U.S. homes, representing more than 20 million residences, were in a “negative equity” or “underwater” position after […]
May - 5th
Housing Market Collapse - Bank Demolishes New Model Homes
Posted at 8:56 pm | Filed Under Politics, Bailout News, California Housing Crash, Real Estate
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