Mar - 10th
The Daily Show with Jon Stewart Humiliates CNBC
Posted at 11:59 pm | Filed Under Credit, Credit Crunch, Politics, The Economy, Real Estate
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The Daily Show With Jon StewartM - Th 11p / 10c
CNBC Gives Financial Advice
Daily Show Full EpisodesImportant Things w/ Demetri Martin
Political HumorJim Cramer
Mar - 9th
US recession could drag on for years
Posted at 4:45 pm | Filed Under Bailout News, Credit Crunch, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
This is what Dr. Doom, Nouriel Roubini said on CNBC today:
“We are in the 15th month of a recession,” said Nouriel Roubini, a professor at New York University’s Stern School of Business, told CNBC in a live interview. “Growth is going to be close to zero and unemployment rate well above 10 percent into next […]
Mar - 5th
Mortgage rates going up?
Posted at 4:31 pm | Filed Under Credit Crunch, Credit, Politics, Bailout News, The Economy, Real Estate
CNBC:
U.S. mortgage rates rose in the latest week despite government efforts to bring mortgage rates down to levels that will spur demand and help the hard-hit housing market begin to recover.
Interest rates on U.S. 30-year fixed-rate mortgages rose to 5.15 percent for the week ending March 5, up from the previous week’s 5.07 percent, according […]
Mar - 5th
Can you say “moral hazard”?
Posted at 2:36 pm | Filed Under Politics, Credit Crunch, Bailout News, California Housing Crash, The Economy, Florida Housing Crash, Real Estate
As we predicted more and more people are falling behind on their mortgages. Obviously, some of them have lost their jobs but we believe that many of them have done so because they don’t want to keep paying for an asset (a home) that is losing value by the day and the government has been […]
Mar - 4th
In this recession, frugal is cool
Posted at 11:57 am | Filed Under Credit, Credit Crunch, The Economy
Good article on CNN.com. This is really good news for our country.
With the economy in shambles and so many people losing their jobs and homes, it is no longer considered cool to brag about possessions and purchases.
For many during a deepening recession, conspicuous consumption is out and frugality is the new black.
Yarrow said […]
Mar - 3rd
Mortgage delinquencies keep increasing
Posted at 10:32 am | Filed Under Credit Crunch, Credit, Bailout News, California Housing Crash, The Economy, Florida Housing Crash, Real Estate
The effects of the devastating financial crisis are showing up everywhere in the real economy. According to AP via Yahoo Finance:
CHICAGO (AP) — The number of people who were late making their mortgage payments shot up 53 percent in the fourth quarter of 2008 from the same period in 2007, according to data provided by […]
Feb - 27th
California unemployment rate skyrockets to 10.1 %
Posted at 5:09 pm | Filed Under Credit Crunch, Politics, California Housing Crash, The Economy, Real Estate
More bad news for California. According to the EDD:
SACRAMENTO – California’s unemployment rate was 10.1 percent in January, and nonfarm payroll jobs declined by 79,300 during the month, according to data released today by the California Employment Development Department (EDD) from two separate surveys.
The U.S. unemployment rate also increased in January to 7.6 percent.
In December, […]
Feb - 25th
California’s economy is collapsing
Posted at 12:30 pm | Filed Under Credit Crunch, Credit, Politics, California Housing Crash, The Economy, Real Estate
This from The New York Times:
LOS ANGELES — The state of California — its deficits ballooning, its lawmakers intransigent and its governor apparently bereft of allies or influence — appears headed off the fiscal rails.
Since the fall, when lawmakers began trying to attack the gaps in the $143 billion budget that their earlier plan had […]
Feb - 20th
Let home prices fall to their real value!!!
Posted at 4:03 pm | Filed Under Credit Crunch, Politics, Bailout News, Real Estate
James Saft has an excellent piece on Reuters. This guy really understands what we are dealing with.
There is an absolutely credible argument that many Americans, particularly less well off ones, would be better off out of home ownership entirely. They would rid themselves of the yoke of a mortgage on an asset which, even after […]
Feb - 20th
Home prices in Southern California will continue to fall
Posted at 11:44 am | Filed Under Credit Crunch, California Housing Crash, The Economy, Real Estate
The LA Times published a great article this morning. Here are some interesting pieces of it:
“If you’re looking for a long-run opportunity, real estate is getting to that point,” said Thornberg, who was an early predictor of the housing crash.
But it’s not at that point yet.
Thornberg believes home prices have another 25% to 30% to […]