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News Archives
May 2008
Friday, May 30, 2008
We're Nowhere Near A Bottom in Housing
Huffingtonost
House prices are falling even faster than during the
Great Depression
Economist.com
Area Home Prices Fall 7.4% ; Decline is Half of US
Average (NY)
Black Enterprise, NY
Home prices in the New York metropolitan area,
which includes North Jersey, declined 7.4 percent in March from a year
earlier ...
Realty leader expects further price decline
Minneapolis Star Tribune, MN
Mass. home foreclosures nearly triple in April
Boston Herald, United States
The spike in home foreclosures in Massachusetts
shows no sign of easing, after a near tripling of foreclosure deeds
filed last month. ...
Wed. May 28, 2008
 Earthtimes (press release) |
Home prices nationwide plummet 14.1%
San Francisco Chronicle, USA Home prices nationwide continued their steep decline in the first quarter, according to the S&P/Case-Shiller home-price index, an authoritative measure of ... |
Americans worry about sagging home prices, red hot oil
prices
AFP
Area home prices down 2.7%
Louisville
Courier-Journal, KY
Louisville-area home prices fell 2.7 percent last month from a
year earlier, to a median of ...
House of horrors: inventory figures show US crisis
likely to get even worse
The Australian, Australia
Coldwell slashing home prices in S. Fla.
Sun-Sentinel.com, FL
 |
Contractors Are Kept Busy Maintaining Abandoned Homes
New York Times, United States |
Your Home, Now Worth Even Less
Conde Nast Portfolio, NY
Yale economist Robert Shiller, who established
the indices with fellow economist Karl Case, believes this current
downturn could exceed the housing bust of
Help Ron Paul Abolish the Federal Reserve
Nation Builder, CO
Ron Paul needs YOUR help to first audit the
Federal Reserve
Friday, May 23, 2008
 KVAL |
Home prices sink 3.1% in quarter
Boston Globe, United States
The inventory of unsold properties continues to
swell, pushing down home prices. Prospective buyers face difficulty
obtaining financing as lenders tighten ...
AZ home prices fall at fastest rate ever
Arizona Daily Star, AZ
Inland foreclosures raise area's affordability
(Riverside, CA)
Press-Enterprise, CA
Wells Fargo tightens home loan policies
Los Angeles Times, CA
More than 100 lenders have been forced to halt
operations, shut down or sell themselves since the beginning of last
year as slumping home prices led to ...
How Global Home Prices Are Faring - Housing Tracker
Seeking Alpha, NY
Ex-Bengal Henry's house auctioned
The home of former Cincinnati Bengals wide receiver Chris Henry was
sold at public auction Friday after he failed to pay the mortgage.
Chase Home Finance LLC, which held the mortgage, was the sole bidder
for the home on Appomattox Drive in the Plantation Pointe subdivision,
said Boone County Master Commissioner Larry Dillon.
Cincinnati Enquirer, OH
Foreclosure forecast grim
San Diego Union Tribune, United
States
Wednesday, May 21, 2008
Foreclosure Wave Continues To Move Through The Nation
Best Syndication, CA
Fannie CEO sees steep home-price drop
Fannie Mae's CEO told shareholders Tuesday that the housing market is
"about halfway through" its crisis and home prices could fall as much
as 25 percent before the worst is over.
The Associated Press
At the luxury end, home prices are falling
Los Angeles Times, CA
Four Overlooked Homeownership Costs
Biz.Yahoo
Foreclosures 4 in 10 SoCal house sales
lansner.freedomblogging.com
Monday, May 19, 2008
How a
single mother in public housing got a million in mortgages
During
the frenzied days of no-down-payment loans and cursory credit checks
in the early 2000s, two out-of-state lenders gave more than $1 million
in mortgages to a Dorchester woman who lives in public housing and
barely speaks English, the Herald has learned.
$1M mortgage mess: No English? No income? No problem!
BostonHerald
FDIC’s Bair Warns of Greater Housing, Credit Woes
WSJ
Your call: Does this guy look like an Angry Renter?
LATimes
Teeing Up the Next Mortgage Bust
New York Times
California Luxury Home Values Move Lower
Earthtimes (press
release), UK
Luxury home prices in Los Angeles , San Diego and San Francisco
all posted modest declines in the first quarter of 2008
. .
Friday, May 16, 2008
High Desert Home Prices Falling While Mortgage Interest
Rates Are Fluctuating (CA)
–
Victorville Housing Dropped 25 Percent in Year
Best Syndication, CA
Housing Woes In US Spread Around Globe
New York Times Blogs, NY
Dynamic Maps of Nonprime Mortgage Conditions
globaleconomicanalysis.blogspot.com
 |
Has the Battle for America Begun?
Center for Research on Globalization, Canada ... with the latest episode being the collapse of the housing bubble following the ruinous housing and real estate inflation engineered by Alan Greenspan, ... |
Record condo numbers to saturate downtown Chicago
Chicagotribune
Wednesday, May 14, 2008
This Weeks Biggest Loser: Cape Coral, Florida
Cities Median home asking price sinks $9K in past week!
HousingTracker.net: Median Home Asking Price & Inventory Data for Cape
Coral, Florida
HousingTracker
Akron home prices fall 13 percent
(OH)
Akron Beacon Journal, OH
State, King County home prices and sales fall
(WA)
The median county sales price in the first quarter was $435,000, down
1.1 percent from a year earlier. The statewide median was $293,600,
down 2.4 percent. The national median slipped 7.7 percent, and the
West declined 12.3 percent, according to the center's research.
Seattle Post Intelligencer
Mortgage scams on rise, net millions for fraudsters in
US: FBI
AFP
Tuesday, May 13, 2008
 |
Orlando home prices fall again in April
(FL)
The Orlando Regional Realtors Association released the numbers from April. They show the median price paid for an existing home was $211,000, down $9,000 from March, and nearly 13% below the same month last year. News Talk AM 580 WDBO, FL |
California man losing nine homes in mortgage mess
Shawn Forgaard, a 37-year-old software company project manager, bought
one home for his family to live in and nine more as investments. He
stands to lose all the investment houses in the mortgage meltdown but
says he has come away wiser from the experience.
Reuters
Congress Pushesfor Unaffordable Housing
Progressives have generally sought to promote affordable housing. We
usually think that it is a good idea that moderate income people can
buy or rent good housing. However, Congress seems determined to go on
the opposite path, striving to keep house prices out of reach of tens
of millions of families.
TPM, NY
Prices Spike, Suburban Home Prices Fall
Wall Street Journal Blogs, NY
Monday, May 12, 2008
Tax assessors boggled by housing dip
Atlanta Journal Constitution,
USA
Home sweet home goes sour
nwitimes.com, IN
The bright side of housing market bust
Buying now, with home prices generally falling,
is "a gamble," says Dudley, who just moved into her new Anaheim home.
But, she says, home prices will rise ...
Chicago Tribune, United States
FORECLOSED DREAMS IN MANATEE
(FL)
The 43-year-old Chicago native, who moved to Florida eight years ago,
has found himself fighting to save his property. He's angered by the
aggressive lending and poor oversight that have landed thousands of
families in the
Bradenton Herald, United
States
Credit lines are vanishing as property values
plunge
Charlotte Observer, NC
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Bernanke's Reckless Pro-Inflation Policy
The Money Times, India |
Will the Mortgage Industry Pay for Its Crimes?
Alternet
Report: About half of Cleveland's subprime loans ended
in foreclosure (OH)
WTTE, OH
Fannie Mae Refinancing Plan Aims to Head Off
Foreclosures
Wall Street Journal
Friday, May 09, 2008
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 |
US Economy No Recovery Whilst Housing Bust Continues- Gold $1200
The Market Oracle, UK |
Top 10 US Housing Price Crash Cities Profiled:
The worst isn't over for Miami, Phoenix, and hard hit areas of
California,
which are forecast to see big price drops in the next 12 months,
according to Money Magazine.
10 markets set for steep losses
CNN.Money
Fannie Mae may lose $2 bln-$2.5 bln more this year: FBR
Reuters
"The housing bubble is still bursting, and the GSEs
will not be left untouched," he added. Fox-Pitt Kelton analyst Howard
Shapiro also said credit issues ...
Lender "workouts" Don't Work? (OR)
Local woman finds obstacles abound in trying to work out new deal with
lender • Nearly 15,000 borrowers across the state could see terms
reset in the next 18 months
Loan crisis hits home
PortlandTribune
How Many ARM's Set To Reset in 2008...?
The six scariest real estate markets
MSNBC
Wednesday, May 7, 2008
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The Housing Crisis is NOT Over
Seeking Alpha, NY Despite the decline, home prices are still at record levels historically. More importantly, all the costs associated with owning a home have skyrocketed: ... |
Real estate's next buying opportunity
... by Robert Shiller, Yale economist, author
of the bestseller Irrational Exuberance and predictor of the
collapse of the recent housing bubble. ...
Indeed, in mid-April, futures were predicting
that home prices in Los Angeles would fall 33% this year
CNNMoney.com
Investors Take Fannie Mae Loss in Stride
RedOrbit, TX
The Washington, DC-based company said it
expects home prices to fall another 9% this year.
Lender listings drag down Twin Cities home prices
(MN)
the median price for
regular homes on the market in the first quarter was $220,000, down
3.9 percent from a year ago. By contrast, the median price for
foreclosures and short sales was $155,000, down 10.4 percent.
Pioneer Press, MN
Fannie Mae sees sharper home-price declines, loses
$2.2B
YahooNews
It’s Going to Get Worse!
Economist David Lereah was once the housing market's biggest
cheerleader. Now he says the bust isn't near over, and home prices
still have a long way to fall.
Newsweek
RI 1Q home sales drop by 23%, prices 10%
(RI)
Single-family home sales in the first quarter of 2008 across Rhode
Island dropped 23.19 percent to 1,242, as the median price fell 9.93
percent to $245,000, according to statistics released today by the
Rhode Island Association of Realtors.
Providence Business News, RI
This Weeks Biggest Loser: Tampa, Florida
Median home asking price tumbles nearly $4K
in past week! (1.9%)
HousingTracker.net: Median Home Asking Price & Inventory Data for
Tampa, Florida
HousingTracker
Monday, May 5, 2008
Orange County, CA Prices: From Front Page to Short Sale
The Orange County Register wrote the first half of the story in July
2005, when it reported that median home prices had topped $600,000,
and highlighted 484 Traverse Drive in Costa Mesa. Three-bedroom, two
bath house had just sold for $600,000.
Calculated Risk
Here's the short history of 484 Traverse Drive:
--Sept. 7, 1994: Sold for $177,500
--June 9, 2005: Sold for $600,000
--July 19, 2005: Featured on the front page of the OC Register
--April 26, 2008: Listed for sale as a short sale, asking $559,000
--May 2, 2008: Price reduced to $439,000
Los Angeles Times, CA
Jose Canseco is the latest victim of the housing bust
Try to hold back your tears. The Wall Street Journal
reports (subscription required) that "Faced with sinking property
prices and heavy legal fines, he has abandoned a multimillion-dollar
home in suburban Los Angeles and let it lapse into foreclosure."
WalletPop, VA
Rebuttal To SmartMoney US Housing Market Bottom Call
The Market Oracle, UK
No recovery for new homes seen in 2008
It will take till 2011 or early 2012 for valley market to stabilize
The Modesto Bee
Asia Getting Fed Up With Bernanke's Rate Cuts
Bloomberg
Berkshire’s Munger: Subprime Makes “Enron Look Like a
Tea Party”
Wall Street Journal Blogs, NY
 MinnPost.com |
Beyond McCain: Ron Paul's supporters hope to
reshape the GOP
MinnPost.com, MN "We're not getting vast numbers to say 'get rid of the Federal Reserve,' but we are hearing more talk about 'sound money,'" she added. ... |
Friday, May 2, 2008
Home Prices Fall in 22 US Cities as Foreclosures Reach
Record!
Bloomberg
Now's not the time to be flip about housing
Seattle Times, United States
Bank of America May Not Guarantee Countrywide's Debt
Bloomberg
With Much Blood-Letting to Come, the US Housing Finance
System Needs Replacing
Money Morning
No recovery for new homes seen in 2008
Modesto Bee, CA
Rich And Famous New York Enclave Experiences Slump In
Home Prices
According to a survey by appraisal
company Miller Samuel, the median price of a Hampton home dipped by
7.1 percent to $882,500 while sales tumbled by 29 percent compared to
the last quarter of 2007.
AHN
House panel passes sweeping mortgage aid bill
Reuters
The Coming Rental Crisis
U.S. News & World Report, DC
Thursday, May 1, 2008
Average Homeowner Will Lose $85000 in Wealth This Year
HULIQ (press release), NC
 The Associated Press |
Index: Home Prices Plunge 19.4 Percent in Year
Black Enterprise, NY
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