Nov - 4th
No “Hope for Homeowners” so far
Posted at 4:15 pm | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
More signs that all these bailout plans our government is implementing are not working. The San Francisco Chronicle reports the following:
The $300 billion “Hope for Homeowners” program was begun Oct. 1. Designed by lawmakers eager to respond to the mortgage crisis, the Congressional Budget Office had projected it would let 400,000 troubled homeowners swap […]
Nov - 2nd
Email the Treasury Department and tell them to stop the bailouts
Posted at 12:56 pm | Filed Under Politics, Bailout News, The Economy, Real Estate
Watching the Marcitz is promoting an effort to email the Treasury Department and tell them to stop the bailout of irresponsible people. Let’s support this effort.
Are you financially responsible and upset that your money is going to BRIBE people to stay in their homes EVEN THOUGH they can make the payments? Well if you are […]
Oct - 28th
Why the housing market is going to get much worse
Posted at 3:10 pm | Filed Under Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
I just read this on CNBC.com:
“In my wildest dreams I couldn’t have imagined that the market could have gotten this much worse, as bad as it was last year,” says Rick Sharga, senior vice president of RealtyTrac.
Why is this happening—especially when the last thing most lenders want to do is repossess a house?
For one thing, […]
Oct - 28th
S&P/Case-Shiller: home prices in August are down 16.6% for the whole country - Down 28% in Los Angeles Metro area
Posted at 9:32 am | Filed Under Bailout News, California Housing Crash, Florida Housing Crash, Real Estate
The Standard & Poor’s/Case-Shiller 20-city housing index was released today showing and it shows declines of 16.6%. Las Vegas is down 30.6% and Los Angeles is down 28.1%. All I can say is: Ouch!!!
Obviously, states like California, Florida, Arizona, and Nevada are suffering the most.
This is how the media reported the news:
USA Today:
NEW YORK (AP) […]
Oct - 25th
The Housing Bubble Book
Posted at 3:38 pm | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Oct - 25th
One honest realtor - Is that possible?
Posted at 3:15 pm | Filed Under California Housing Crash, The Economy, Real Estate
Oct - 23rd
Foreclosures in California increase 228%
Posted at 2:57 pm | Filed Under California Housing Crash, Real Estate
The housing crash continues in California. According to the LA Times: “A record number of homes were lost to foreclosure in California over the last three months, up 228% from last year to a high of 79,511 homes. MDA DataQuick reported that more homes were taken back by lenders in the three months ended Sept. […]
Oct - 23rd
Foreclosure filings up 71% in Q3
Posted at 10:26 am | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
This from USA Today:
WASHINGTON (AP) — The number of homeowners ensnared in the foreclosure crisis grew by more than 70% in the third quarter of this year compared with the same period in 2007, according to data released Thursday.
Nationwide, nearly 766,000 homes received at least one foreclosure-related notice from July through September, up 71% from […]
Oct - 23rd
Losing jobs left and right
Posted at 10:00 am | Filed Under Politics, The Economy, Real Estate
The US economy is collapsing and companies are laying off thousands of employees. Most economist predict that unemployment rate will reach 8.5% sometime next year and this will put additional pressure on the housing market. Fasten your seat belts folks!!! Things are going to get much worse.
These are some of the layoffs announced this week:
Chrysler […]
Oct - 22nd
Say “hello” to the 2008-2011 recession
Posted at 4:08 pm | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
More signs that the economy is already in a recession and that the worst is yet to come. The Dow dropped more than 500 points today showing that investors are nervous about the economy. CNBC reports:
If you think the economy looks bad now, imagine this:
* An unemployment rate above 10 percent for almost a year.
* […]
