Nov - 11th

The housing bailouts keep coming and the stock market keeps sinking

Posted at 7:50 pm | Filed Under Bailout News, The Economy, Real Estate

Another day, another bailout plan and Wall Street? Well, Wall Street didn’t like it. The Dow down 176 points. Is the Federal government ever going to learn that bailouts won’t fix the housing problem?
The Federal Housing Finance Agency (FHFA) came up with this bailout plan today:
ANSWERS ON THE STREAMLINED MODIFICATION PROGRAM
Q: What is a modification? […]

Nov - 10th

Why Paulson’s Plan Won’t Work

Posted at 7:11 pm | Filed Under Politics, Bailout News, The Economy, Real Estate

Nov - 10th

U.S. Response to the Financial Crisis

Posted at 7:09 pm | Filed Under Politics, Bailout News, The Economy, Real Estate

Nov - 7th

The economy lost 240,000 jobs in October - Unemployment rate at 6.5%

Posted at 11:24 am | Filed Under Politics, The Economy, Real Estate

More bad news for the economy and the housing market. Bloomberg reports the following:
Nov. 7 (Bloomberg) — The U.S. unemployment rate rose to the highest level since 1994 as companies slashed payrolls, setting the stage for the steepest economic decline in decades and a tough start for Barack Obama’s presidency.
The jobless rate rose to […]

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) […]