Jul - 6th
Get ready for the next huge wave of foreclosures
Posted at 4:14 pm | Filed Under Bailout News, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
This article on the LA Times web site seems to agree with what we are seeing here in Orange County, CA. Banks are getting ready to dump on the market thousands of foreclosed properties. Unfortunately, this will bring more pain for the thousands of families that will lose their homes. Our heart goes out to […]
Jul - 1st
Ben Bernanke is clueless
Posted at 12:03 am | Filed Under Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Watch this video and you’ll be amazed that this guy is running our economy.
Jun - 27th
More banks keep failing - FDIC takes over 5 banks on Friday
Posted at 3:20 am | Filed Under Politics, Bailout News, California Housing Crash, Florida Housing Crash, The Economy
45 banks have gone under so far this year. According to AP via Yahoo Finance:
NEW YORK (AP) — Regulators on Friday shut down five small banks, boosting to 45 the number of failures this year of federally insured banks. More are expected to succumb in the prolonged recession.
The Federal Deposit Insurance Corp. was appointed receiver […]
Jun - 25th
More bad news for the economy: GDP tumbled 5.5% and unemployment claims were up 15,000
Posted at 10:31 am | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
And the bad news keep coming showing that all the stimulus in the world cannot hide the horrible state of our economy. According to CNBC:
The revised reading on gross domestic product, released Thursday by the Commerce Department, showed the economy from January through March didn’t fall as deeply as the 5.7 percent annualized decline reported […]
Jun - 24th
No more “green shoots” for new home sales?
Posted at 10:43 am | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
It looks like people are not buying as many new homes as Wall Street was hoping for. According to AP via Yahoo Finance:
The Commerce Department said Wednesday that sales dropped 0.6 percent in May to a seasonally adjusted annual rate of 342,000, from a downwardly revised April rate of 344,000. Sales were down nearly 33 […]
Jun - 23rd
How unemployment is putting even more pressure on the collapsing housing market
Posted at 10:16 am | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
At the beginning it was all the easy money and the subprime lending but today, unemployment is becoming the main cause of foreclosures in this country. According to the USA Today:
WASHINGTON — The nation’s foreclosure crisis — once largely confined to only a few corners of the country — is spreading to new areas as […]
Jun - 23rd
Existing-home sales in the West declined 0.9 percent
Posted at 10:06 am | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
The NAR has just reported the following:
Existing-home sales in the West slipped 0.9 percent to an annual rate of 1.14 million in May, but are 11.8 percent higher than May 2008. The median price in the West was $197,700, down 30.6 percent from a year ago.
For the whole country, these are the numbers
Existing-home sales – […]
Jun - 17th
Do you mean the home has to actually appraise?
Posted at 3:45 pm | Filed Under California Housing Crash, Florida Housing Crash, Real Estate
Yes, believe it or not, banks are being more careful before handing out the money so people can buy or refinance homes. What a concept!!!
According to the Sun Sentinel:
Real estate agents, mortgage brokers and buyers, as well as homeowners who want to refinance their loans, are feeling the effects of rules designed to prevent inflationary […]
Jun - 16th
New housing permit numbers might not be as good as you think
Posted at 2:40 pm | Filed Under California Housing Crash, Florida Housing Crash, Real Estate
Visit msnbc.com for Breaking News, World News, and News about the Economy
Jun - 8th
Robert Shiller says that home prices may keep falling for years
Posted at 11:26 am | Filed Under Bailout News, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Robert Shiller, the guy who predicted the housing bubble and bust and one of the few economists who warned us about it while realtors and the government were saying that the subprime mess was contained, is now telling that despite what you might hear from the permabulls (ie realtors, mortgage brokers, the government, Jim Cramer, […]
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