Aug - 12th

Bloomberg: Home Price Declines Accelerate

Posted at 10:48 am | Filed Under The Economy, Real Estate

Here is an interesting piece of the article on Bloomberg:
Aug. 12 (Bloomberg) — Home price declines in the U.S. accelerated in the second quarter, dropping by a record 15.6 percent from a year earlier, as foreclosures weighed on values.
The median price of an existing single-family home dropped to $174,100, the most in records dating […]

Aug - 11th

Home prices have not bottomed yet

Posted at 3:45 pm | Filed Under California Housing Crash, Florida Housing Crash, Real Estate

Aug - 11th

The U.S. might have 30% of mortgages “underwater”

Posted at 2:47 pm | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate

We found this on Bloomberg:
Aug. 11 (Bloomberg) — Almost one-quarter of U.S. mortgage holders owed more than their homes were worth in the second quarter and that figure may rise to as much as 30 percent by mid-2010 as job losses and foreclosures climb, Zillow.com said.
Homeowners are being hurt by price declines. The estimated […]

Aug - 11th

Half of the single-family mortgages in South Florida are “underwater”

Posted at 10:30 am | Filed Under Florida Housing Crash, The Economy, Real Estate

This from the Sun Sentinel:
Nearly half of the single-family mortgage holders in South Florida owe more than their houses are worth, a worrisome reminder of the region’s 3 1/2-year housing slump.
In Palm Beach, Broward and Miami-Dade counties, 47 percent of the 837,177 single-family home mortgages are “underwater,” according to a second-quarter report released today by […]

Aug - 3rd

Roubini says: Double-Dip Recession still possible

Posted at 12:23 pm | Filed Under Politics, Bailout News, The Economy, Real Estate

CNBC reports the following:
The United States, Europe and Japan still face the possibility of a double-dip recession and at the very least will experience below-potential economic growth for the next couple of years, economist Nouriel Roubini told CNBC Monday.
The double-dip is still possible because of very large budget deficits that are being monetized by monetary-policy […]

Aug - 1st

More bank failures ahead

Posted at 2:18 pm | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate

Embedded video from CNNMoney.com Video

Jul - 30th

The next wave of foreclosures

Posted at 3:32 pm | Filed Under Politics, Credit Crunch, Bailout News, California Housing Crash, The Economy, Florida Housing Crash, Real Estate

Excellent report on CNNMoney:
Cities in just four states — California, Florida, Arizona and Nevada — captured 29 of the top 30 places with the highest foreclosure rates, according to a report issued by RealtyTrac on Thursday. Greeley, Colo., was the only outsider, coming in at 29th.

Many cities with populations larger than one million experienced rapid […]