Although I oppose the housing bill currently being discussed in Congress, I still believe that it won’t help much to stop the inevitable decline in home prices and other people agree with me. According to MSNBC:
After a year of debate, Congress appears close to passing a bill intended to stem the rising tide of home […]

Jul - 16th

Southern California home prices keep going down

Posted at 2:29 pm | Filed Under California Housing Crash, Mortgages, The Economy, Real Estate

The pain for homeowners in Southern California continues. According to AP via Yahoo Finance:
Southern California home prices drop 29.3 percent in June from last year
SAN DIEGO (AP) — Southern California home prices plunged 29.3 percent in June compared to a year ago, a research firm said Wednesday.
DataQuick Information Systems said the median price for new […]

Jul - 11th

An avalanche of foreclosures in California and Florida

Posted at 12:35 pm | Filed Under California Housing Crash, Florida Housing Crash, Mortgages, The Economy, Real Estate

If you thought that the housing market couldn’t get any worse, you get wrong. The Sun Sentinel reported this:
Florida foreclosures up 92 percent
Home foreclosures continue to multiply in South Florida and the rest of the nation, and analysts say the crisis likely won’t ease until next year at the earliest.
“Between falling home prices and the […]

Jul - 10th

The housing bailout plan moves forward

Posted at 4:55 pm | Filed Under Bailout News, Mortgages, The Economy, Real Estate

The Senate keeps moving closer to approving a 300 billion dollar housing bailout package.
According to USA Today:
WASHINGTON (AP) — The Senate voted resoundingly Thursday to push closer to passage a massive mortgage rescue plan to help hundreds of thousands of stressed U.S. homeowners, even as the bill faced new obstacles in the House.
By a vote […]

Jul - 10th

Foreclosures grew by 53% since June 07

Posted at 11:19 am | Filed Under Mortgages, The Economy, Real Estate

More horrible news for the housing market. RealtyTrac just released the numbers for June and as expected, foreclosures keep going up. AP via Yahoo Finance reported the following:
WASHINGTON (AP) — The number of homeowners stung by the rout in the U.S. housing market jumped last month as foreclosure filings grew by more than 50 percent […]

Jul - 9th

Housing crash links of the day

Posted at 5:05 pm | Filed Under Mortgages, The Economy, Real Estate

The Fannie and Freddie doomsday scenario
Extending the mortgage-crash pain
Bowyer: The Coming Obama Recession
BofA CEO: Recession ‘Feel’ May Last A Year
U.S. Stocks Tumble, Sending S&P 500 to Bear Market; Banks Slide
Fannie Mae Pays Record Spreads on Two-Year Note Sale (Update2)
U.S. Stock Optimism Falls to 14-Year Low Amid Dow Bear Market
We’re All Homeowners Now, Nationalization of Fannie, […]

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