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 - 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 - 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 - 23rd
The Florida’s housing market is collapsing
Posted at 12:02 pm | Filed Under Politics, Florida Housing Crash, The Economy, Real Estate
Sep - 10th
Bailouts won’t stop drop in home prices
Posted at 7:31 am | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
The Federal government keeps bailing out the financial system and trying to artificially keep home prices high but long term, the market dictates what homes prices will be all around the country.
CNNMoney has this article:
Fannie, Freddie rescue won’t end housing woes
NEW YORK (CNNMoney.com) — The federal government’s takeover of Fannie Mae and Freddie Mac may […]
Sep - 3rd
Unemployment - The next big problem for the housing market
Posted at 10:33 am | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
This from CNBC:
Rising Unemployment May Deepen Housing Slump
In the Riverside-San Bernadino-Ontario metro area in southern California, the median price of an existing home was down 32,.7 percent from a year ago, as of the second quarter, based on data from the national Association of Realtors. The jobless rate there was 8.9 percent in July vs. […]
Sep - 2nd
Desperate sellers are giving their houses away
Posted at 3:45 pm | Filed Under Florida Housing Crash, The Economy, Real Estate
More signs that the real estate crash is far from over. This from the New York Times:
Homeowners are struggling nationwide. But here in South Florida, the reversal of fortune has been especially severe, scrambling the psychology of a community that has historically treated real estate as a game of how-rich-can-you-get.
Overdeveloped and still building, this remains […]
