Jun - 17th
California is running out of money
Posted at 7:42 am | Filed Under California Housing Crash, The Economy, Real Estate
Visit msnbc.com for Breaking News, World News, and News about the Economy
Jun - 16th
Why high-end homes will continue to go down in value
Posted at 3:01 pm | Filed Under California Housing Crash, The Economy, Real Estate
This article on Bloomberg shows you how this is just the beginning in declines for the 1 million plus homes.
June 16 (Bloomberg) — Prices for the most expensive U.S. homes may not reach bottom for another few years, according to JPMorgan Chase & Co. analysts.
“Tighter lending standards and the lack of cheap financing for these […]
Jun - 16th
Layoffs at MySpace
Posted at 2:37 pm | Filed Under California Housing Crash, The Economy
Visit msnbc.com for Breaking News, World News, and News about the Economy
Jun - 16th
California’s Financial Meltdown
Posted at 2:36 pm | Filed Under Politics, California Housing Crash, The Economy, Real Estate
Visit msnbc.com for Breaking News, World News, and News about the Economy
Jun - 15th
Credit card defaults skyrocket
Posted at 4:54 pm | Filed Under Credit, Credit Crunch, The Economy
More signs of a collapsing economy. According to CNBC:
U.S. credit card defaults rose to record highs in May, with a steep deterioration of Bank of America’s lending portfolio, in another sign that consumers remain under severe stress.
JPMorgan Chase—the second-largest U.S. bank and the biggest issuer of Visa-branded credit cards—said its default rate rose to […]
Jun - 15th
Typical American mentality: “need help, not my fault, need a bailout”
Posted at 2:24 pm | Filed Under The Economy, Real Estate
I love the part where she says “I didn’t think I was going to live. I wanted to have a little fun”.
Totally pathetic!!! No wonder we are in this mess.
Jun - 10th
Home prices are back to 1989 levels in some parts of Southern California
Posted at 2:45 pm | Filed Under California Housing Crash, The Economy, Real Estate
Interesting article on the LA Times web site:
n parts of Southern California, the housing crash has upended a basic tenet of the American dream: that home values always increase over the long term.
Properties in several areas are selling for less than they did 20 years ago, and that’s not even counting the effects of inflation.
Home […]
Jun - 9th
The American way of people living beyond their means
Posted at 2:39 pm | Filed Under Credit Crunch, Bailout News, California Housing Crash, The Economy, Real Estate
More signs of this bubble economy that is bursting. We have built our prosperity on credit and we are now paying the price. According to this article in the LA Times:
To get cash for business expenses, one-third of California small-business owners took out exotic, high-risk products, such as those that required little proof of income […]
Jun - 8th
Robert Shiller says that home prices may keep falling for years
Posted at 11:26 am | Filed Under Bailout News, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Robert Shiller, the guy who predicted the housing bubble and bust and one of the few economists who warned us about it while realtors and the government were saying that the subprime mess was contained, is now telling that despite what you might hear from the permabulls (ie realtors, mortgage brokers, the government, Jim Cramer, […]
Jun - 5th
The 2012 Pelosi GTxi SS/RT Sport Edition
Posted at 2:34 pm | Filed Under Politics, The Economy
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