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News Archives
June 2008
Monday, June 30, 2008
Crude Oil Bubble vs the Housing Bubble
RightSide Advisors, CA
Mortgage rates creeping upward
USA Today
US new home sales drop as Fed holds rates steady
AFP
Home-price cuts open doors for some
San Bernardino Sun, CA
The increased number of foreclosures and
bank-owned properties is also adding to the number of homes
available to home buyers. Ramirez said there have been ...
More foreclosures = more euthanasia
Baltimore Sun, United States
The rising number of home foreclosures is
leading to more dogs, cats
Home equity loss worries retirees
Bradenton Herald, United
States
Vacant properties invite trouble
San Jose Mercury News,
USA
Economic Report Summary: Plunging Home Prices and
Consumer Confidence
Seeking Alpha, NY
The national median existing-home price fell to
$208600 in May, down 6.3 percent from a year ago when the median was
$222700. Home prices have fallen most ...
Countrywide sued for unfair lending; buyout approved
guardian.co.uk, UK
The housing bubble, in four chapters
MSNBC
Is $7 Per Gallon Gas in Our Future?
ABC News
Monday, June 23, 2008
Portability fails to heat housing market
Tampabay.com, FL
But its more controversial provision —
portability — has proven no match for Florida's housing bust and
credit crunch. ...
Ron Paul center stage: GOP maverick says dump the Fed,
repeal federal income tax!
The Missoulian, MT
Friday, June 20, 2008
Washington Mutual lays off 1200 employees, some in
battered home loan business
International Herald
Tribune, France
Foreclosure property prices slashed by desperate
lenders
NuWire Investor, WA
Bay Area home prices fall by 22%
DailyNews
Realtor, Not A Real Friend
Washington Post, United States
Report: Two million kids losing homes in subprime
crisis
Seattle Post Intelligencer
The nation's subprime mortgage crisis has
hammered homeowners and Wall Street, and now threatens to push nearly
two million kids out of their homes,
US Charges 400 in National Mortgage Fraud Crackdown
(Update2)
Bloomberg
More Power for the Fed as the Central Bank Cooks the
Books
The Market Oracle, UK
Celebrity
Foreclosures
These celebrities, ranging from athletes to entertainers, are
amongst those who have seen their homes go into foreclosure this
year
CNBC
Wednesday, June 18, 2008
Foreclosure property prices slashed by desperate
lenders
NuWire Investor, WA
May’s median home price below $500,000, 1st time
since’04! (CA)
OCRegister.com
This Weeks Biggest Loser: Tampa, FL
median home asking price sinks $4,900 in past week!
HousingTracker.net: Median Home Asking Price & Inventory Data for
Tampa, Florida
Foreclosures filings in New York increase 25 percent
Bizjournals.com, NC
SoCal home prices down 27% from '07 levels
Los Angeles Times, CA
Numbers: Median price pad for the Southern
California region in May was $370000, down from $385000 in April and
down 26.7% from the peak median of $505000 ...
Monday, June 16, 2008
US foreclosure filings surge 48 percent in May
Soaring foreclosures are continuing to raise questions about the
mortgage industry's claims that lenders are making a dent in the
housing crisis.
Biz.Yahoo
The real foreclosures of Orange County (CA)
What's the true picture? Have they been vandalized? What do the
neighbors think? Who were these victims of foreclosure and why?
OCRegister, CA
Long Beach Congresswoman skips mortgage payments
A March 2008 foreclosure filing says Richardson owes
her lender Washington Mutual more than $578,000 and her home will be
sold at auction.
OCRegister, CA
Suburban Pittsburgh home values declining as gas prices
rise
Bizjournals.com, NC
With oil prices hovering around
$130-per-barrel, some economists are beginning to see a correlation
between falling suburban home values and the distance of ...
Foreclosures Hit Connecticut Cities, Eastern Towns Hard
Hartford Courant, United States
Most home values in county fall
(WA)
Most Clark County homeowners will see a decline
in their assessed property values when 2007 statements from the
Assessor’s office are mailed out next week. It is the first drop in
overall assessed values since the early 1980s.
The Columbian, WA
San Diego Home Price Plunge Chart Shows Home Values
Mega-Decline!
"...if you do assume that this figure is representative of actual
prices, condo prices are down 32.5% from the peak. Ouch. And the 28.0%
decline in single family homes isn't exactly a walk in the park
either."
Piggington.com
Florida Zip Code Sees Mega Home Value Plunge
as Median Price Sinks over 68%!
Of the 50 ZIP codes in Clay, Duval, Nassau and St.
Johns counties, Riverside's 32204 stands out for its 59 percent drop
in median price to $135,000 and its 68.3 percent decline in home sales
to 13.
Riverside home prices, sales slide
Florida Times-Union, FL
Thursday, June 12, 2008
California Home Foreclosures Skyrocket by Over
400 Percent
Natural News.com, AZ
The situation is likely to keep getting
worse, analysts say, because foreclosed homes are usually sold very
cheaply, further driving down home prices and .
Home Prices May Fall by One-Third: Report
TheStreet.com
By the time the credit crisis finally comes
to an end, US home prices might have fallen in value by nearly
one-third, according to a Reuters report. ...
This Weeks Biggest Loser: Cape Coral, Florida
Median home asking price sinks $5K in past week!
HousingTracker.net: Median Home Asking Price & Inventory Data for
Cape Coral, Florida
Where the Pain Is
San Diego Reader, CA
People were told that home prices always went
up and they could always refinance the mortgage to offset the higher
interest rates. Ouch. ...
Foreclosures Make Up Majority of Sales in Sacramento
Wall Street Journal Blogs, NY
If you want to buy a home in Sacramento,
Calif., the banks have a deal for you. The Sacramento Association of
Realtors says that a whopping 65.5% of 1654 ...
Missoula Median Home Prices Drop
(MT)
New West, MT
US home price drop means $4 trillion in lost capital
guardian.co.uk, UK
Monday, June 09, 2008
Housing troubles trickle into resort towns
Detroit Free Press, United
States
Those areas, in demand from more than just
Michiganders, have largely avoided the worst effects of the housing
bust -- falling home values,
America's Crisis: Foreclosures Driven by Bad
Lending Practices
PRESS TV, Iran
RealtyTrac Inc., an information firm that
tracks real estate, concluded through recent analysis that the US
has witnessed 650000 foreclosures in 2008's ...
Analysts say new wave of foreclosures on horizon
SmartBrief, DC
Friday, June 6, 2008
US mortgage foreclosures hit record high
U.S. Daily, ca
Proposition 13: 30 years of protecting taxpayers
(CA)
Thirty years ago today, California voters overwhelmingly approved
Proposition 13 as a way to keep seniors from losing their homes to
skyrocketing property taxes. But the 1978 vote also ignited a
revolution that dramatically changed the way people across America
look at government and taxes.
Sacramento Bee,
USA
More Utahns are losing homes to foreclosure
Salt Lake Tribune, United
States
Mass. foreclosure rates soar to record
Boston Herald, United States
California screaming: Tales from the housing bust
Money.CNN
5 new rules for home sellers
Money.CNN
Wed. June 4, 2008
HELOCs Hurt TV Stars Too!
Ed McMahon, the longtime sidekick to television star Johnny Carson,
faces the possible loss of his Beverly Hills home to a foreclosure
action initiated by a unit of Countrywide Financial Corp.
Public records also show that McMahon had a separate home-equity
line of credit from Countrywide of up to $300,000 secured by the
same house…
Ed McMahon May Lose Beverly Hills Home
WSJ
CA Housing Stats…The Real Story. 4.25 Years Supply?!?
Implode-o-meter
Could 50% of All Homes End Up in Foreclosure?
Charles HS
Toll Bros. posts $93.7 million quarterly loss
Philadelphia Inquirer, PA
new megabubble pops in 2011
MarketWatch
The great divide on income vs. housing
Portsmouth Herald News, NH
Calif. congresswoman defaulted on homes six times
Rep. Laura Richardson, whose Sacramento home was recently sold into
foreclosure, has two other homes in Southern California that have
fallen into default six times, according to a published report.
RE AOL
Mortgaging our credit card debt - How the World Works -
So all those Americans who thought they
were doing the smart thing by paying down their ballooning credit card
debt may have ultimately made themselves even more vulnerable to an
economic downturn by putting their homes at risk. And the nation, as a
whole, merely postponed that inevitable reckoning with its addiction
to a culture of debt.
Salon.com
Monday, June 2, 2008
Now lenders are facing HELOC hell
FinancialWeek
(subscription), NY
Real Price Declines Swamping Nominal Home Price Trends:
First American
Housing Wire
California’s Prices Off 28 Percent From Peak; Housing Risk in Los
Angeles Soars
Housing Wire
According to a report released last week by
First American CoreLogic, home prices in the Golden State have now
fallen an average of 28 percent from their
Why Lower Home Prices Are in Your Interest
Seeking Alpha, NY
Homeowners associations feel pinch of foreclosures
Bakersfield Californian
(subscription), CA
It's Only Going to Get Worse
WeeklyStandard
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