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News Archives
November 2007
 Sky News Australia |
Friday Nov 30, 2007
Ventura County, CA median home
price takes another hit
"The median sales price for existing single-family detached
homes fell to $650,570, down 4.6 percent from $681,820 in September"
Ventura County home sales fall, along with median price
VentuaCountyStar
Supply of houses on market at 22-year high
"Sales of existing homes fell for an
eighth straight month in October even as more properties came on the
U.S. housing market, driving the supply of homes up for sale to the
highest level in 22 years, the National Association of Realtors
reported Wednesday"
marketwatch.com
Foreclosures keep locksmiths busy (CA)
abclocal.go.com
Bernanke Adds to Rate-Cut Hints
Wall Street Journal
Banks, US near deal to freeze subprime rates: report
Reuters
Prices Fall, Inventories Rise, NAR Spins
seekingalpha.com
San Fernando
Valley home sales slow to another record low
DailyNews
House foreclosures soar 94 percent
reuters.com
San Fernando Valley, CA home
prices continue slide:
Median down $33,700 year over year!
"Home sales in
the San Fernando Valley hit a record low for the second consecutive
month in October, plunging 54 percent from a year ago as mortgage
industry turmoil continued to roil the market, a trade association
said Wednesday."
"October's median
price slipped an annual 3.3 percent, or $20,000, to $590,000 and was
off $33,700, or 5.4 percent, from September, the association said."
Valley home sales slow to another record low
Los Angeles Daily News, CA
Governor tells Inland mayors of foreclosure awareness plan (CA)
Pe.Com
Home prices: Worst drop since '70
Money.CNN
Soft home sales, prices cast economic gloom
Reuters
What's so bad about falling house prices?
latimesblogs.latimes.com
In
housing downturn, a new uncertainty factor
csmonitor.com
Housing's Pain Not Easing
thestreet.com
Real Estate Crisis Clouds US Economy
Indian Muslims, CA
Mortgage Crisis Jeopardizing Working Class Families
Bay Area Indymedia, CA
Thursday Nov 29, 2007
Protesters demand help from Countrywide
BusinessWeek
Homeowners demonstrated outside Countrywide Financial
offices Tuesday, demanding the mortgage giant help them avoid
foreclosure. ...
Recession Risk
"Over 50 percent,"
said MacroMarkets LLC Chief Economist Robert Shiller, giving his odds
for a recession."
home prices decline
San Mateo County Times, CA
Equifax Red Flags Suspected Adjustable Mortgage Holders
"Credit reporting agency Equifax recently
unveiled a new rating system that identifies credit seekers who may
have an adjustable rate mortgage. The ARM Predictor is meant to
minimize risks for lenders, but some consumer advocates worry that the
system will hurt borrowers and lead to higher rates on loans and
credit cards."
eFinanceDirectory
House sales record low despite largest drop in prices ever
money.cnn.com
L.A., O.C. house prices decline sharply
latimes.com
Housing Prices Set New Records - All of Them Bad
seekingalpha.com
California home sales, median price in free fall
Bizjournals.com, NC
The California Association of Realtors said Wednesday
that home sales plunged 40 percent from a year ago, while the state's
median home price fell almost 10 percent ...
 The Money Times |
Supply of homes on market at 22-year high
MarketWatch |
Broward condo prices continue to fall (FL)
MiamiHerald.com, FL
 |
Foreclosure's other victims
"Many of the owners left behind live near abandoned houses that shelter squatters and worse. Crime has soared and owners would leave, if they could, but their homes have plunged in value. Leaving would mean starting from scratch." CNNMoney.com |
Laci Peterson's Modesto home sold at a deep discount
CBS 47, CA
Be careful before bidding on a foreclosed home
KVBC, NV
C.A.R. reports sales decrease 40.2 percent, median home price falls
9.9 percent (CA)
Car.org
Texas Homebuilders Shares Hit Lows
Motley Fool
 Sabah |
HOA fees climb
for "condo owners" in San Mateo, CA
"Since 2003,
Posner said, the dues for her three-bedroom unit at Edgewater Isle
South have surged from $285 to $487 a month. That's a big bite out of
a fixed income."
Bay Area Condo owners hit by increased fees
insidebayarea.com
Wednesday Nov 28, 2007
S&P: 3Q
Home Prices Fall by 4.5 Percent
Biz.Yahoo
Home prices take steeper downturn
Money.CNN
Home prices falling at record pace in third quarter
Marketwatch
 |
How fast are OC foreclosures rising? "Orange County foreclosures are rising at a faster rate than they did during the last significant housing slump, in the 1990s, according to an Orange County Register analysis of DataQuick numbers." Orange County Register, CA |
Housing crisis will deliver hit
Augusta Chronicle
(subscription), GA
The report also projects property values will decline
by $1.2 trillion in 2008, partly because of the foreclosure crisis,
with drops in home prices across ...
Americans believe buying a home still a good decision
IndiaPost.com, CA
Home Prices Even More Horrid
Motley Fool
DISSING THE FED AND RON PAUL
“Who’s Responsible for the National Debt”
explains how the Federal Reserve Act of 1913 provided the means for
government to sell generations of Americans into slavery to the
national debt...
OpEdNews, PA
 New Republic (subscription) |
We've been told not to imagine a world without the Federal Reserve. Maybe we should. "The current housing market and debt market crises are in good part the children of the Federal Reserve. By cutting rates 13 times between 2001 and 2003, and then keeping them very low for years, monetary policy contributed to the housing bubble." New Republic, DC |
One Ron Paul Supporter Foots Bill for Full-Page Ad in 'USA Today
...
Earthtimes, UK
Foreclosure crisis going to get worse before it gets better
Chicago Daily Herald, IL
U.S. Mortgage Crisis Slams Property Values, State Tax Receipts
Bloomberg
Real
Prices Actually Lower Than Reported
thetrumpet.com
Getting rich off the subprime mess
articles.moneycentral.msn.com
What Happens if Freddie Mac Becomes Insolvent?
seekingalpha.com
Military Families Surviving the Mortgage Crisis
XETV FOX6 San Diego, CA
She lives next door to a home in foreclosure, and the
“bank owned” signs stick out like sore thumbs all over her tidy Chula
Vista neighborhood. ...
Massachusetts housing slide deepens
Boston.com
D.R. Horton Predicts '08 Worse Than '07
Yahoo.Biz
Wells
Fargo Plunges Into Mortgage Muck
Yahoo.Biz
Fraud deepens Mich. housing crisis
DetNews.com, MI
The Subprime Bust and the One-Page Mortgage Disclosure
American Enterprise Institute, DC
Tuesday Nov 27, 2007
Orlando home sales fall 39% in 3Q
Bizjournals.com, NC
The existing home median sales price was $232100 in
the third quarter, a 6 percent drop from the $246800 reported a year
ago. Florida's existing condo sales ...
Subprime loan industry tumbles
DetNews.com, MI
How home loan boom went bust
DetNews.com, MI
Sacramento home
asking price plunge worsens:
median down another $28K in 2 months!
housingtracker.net/askingprices/California/Sacramento-Arden-Arcade-Roseville/
Don't look now: Here comes the recession
Money.CNN
These days, some home sellers will try just about anything (AZ)
AZCentral
JPMorgan to cut about 100 subprime jobs
Reuters
 |
Mortgage Fraud Hits the Courts
Voice of San Diego, CA |
Calif. Foreclosure Shoppers Get A Dose Of Reality
CBS 5, CA
Short Sales Increase As Housing Market Falls
NBC30.com, CT
How to boost your credit score by 100 points
ABC15.com (KNXV-TV), AZ
Investors Warned Against Moving Back Into Homebuilders
Forbes, NY
Monday Nov 26, 2007
 |
The four stages of House Seller Sickness
blogs.tampabay.com
Tax bite deepens as home values fall
Minneapolis Star Tribune
(subscription), MN
Fannie, Freddie Feel Default Heat
"We are seeing unprecedented foreclosures and declines
in home prices not seen since the Great Depression," said Joshua
Rosner, an analyst at Graham Fisher ..."
Wall Street Journal
Housing woes have domino effect
USA Today
That weak consumer spending — along with surging
energy prices, a long housing slump and sluggish job growth — will
plunge the economy into a recession. ...
Digging deep for a down payment
"... you may have a
lot of problems trying to make ends meet once you have to pay a
mortgage, and soon enough you may find your house up for foreclosure,
..."
Republican Eagle, MN
Property values cause the blues (DC)
Columbian.com
Consider that house prices could fall 30%
nytimes.com
 MercoPress |
Greenspan Has No `Regrets' as Housing Slump Deepens (Update2)
Bloomberg 23 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said he has ``no particular regrets'' and that the deepening slump in the US housing market ... |
Minorities hit hardest by US housing crisis
Reuters
Behind Freddie and Frannie's Free Fall
biz.yahoo.com
U.S. housing outlook sends dollar to record low
seattletimes
Home prices in metropolitan Phoenix took a healthy
drop in October
"The median price of an existing Valley
house fell to $242,000 last month, reports the Realty Studies
department at Arizona State University's Polytechnic campus. That's
the lowest median price the market has posted since spring 2005. It's
an almost 10 percent drop from the median resale high of $267,000 the
housing market hit in early 2006."
Housing prices still in decline
Arizona Republic, AZ
Neighborhoods suffer as crime follows foreclosure
SignOnSD
Detroit area housing slump wallops condos
Detnews.com
Freezing Mortgage Rates Will Fail
Mish
Friday Nov 23, 2007
News Gets Worse for Freddie (Mac) As
Shareholders File Lawsuit
Washington Post
Mass foreclosures rise 143% over
last year!
“Foreclosures are getting so high that I worry they’re becoming
like Mount Washington: Making their own weather...
Foreclosure shocker in Massachusetts
BostonHerald.com
Home losses rising in Vermont
Rutlandherald.com
Home prices take year over year
decline in Houston!
"The median sales price for used homes in the Houston area
slipped 1.4 percent to $136,000."
Home
sales in the Houston area stumble again
Chron.com
CA sees record $5 billion in foreclosures
centralvalleybusinesstimes.com
Home prices continue decline in Las Vegas area in October
KESQ, CA
salestraq president Larry Murphy says median new home
prices fell 9.2% in October to $299575. Home sales plummeted 49% to
1302, compared with the same month ...
The US economy is melting down
marketwatch.com
DISSING THE FED AND RON PAUL
OpEdNews, PA
|
analyst fears economy headed for serious downturn
WorldNetDaily, OR
DR Horton swings to 4Q loss
Chandler News-Dispatch, MN
Horton said the housing market would "remain
challenging" and that next year is likely to be worse. Horton said his
company was cutting prices. ...
Canada banks to face grilling on subprime charges
Reuters
Even average homeowners feel rising mortgage floodwaters
MarketWatch
Tuesday Nov 20, 2007
Housing Market's Stench Means Cut Price to Sell
Bloomberg
Days of home ATM are over
Corvallis Gazette Times, OR
“The bubble that fueled a lot of consumer spending
just isn’t there anymore,’’ said P. Brett Hammond, senior managing
director and chief investment ...
San Diego median home asking
price continues plunging!
median drops another $20K in 2 months!
HousingTracker.net: Median Home Asking Price & Inventory Data for
San Diego, California
Housing Tracker
Politician Asks President for Foreclosure Moratorium
DSNews.com, TX
At least one US Congressman is asking the Bush
Administration to help resolve the subprime debacle by declaring an
emergency “foreclosure moratorium. ...
O.C. distressed houses for sale up 8.7% in 2 weeks
mortgage.freedomblogging.com
Home Foreclosure Nightmare Getting Worse
WHIOtv.com, OH
Top 5 Declining U.S. Markets
NuWire Investor
Fed Official
Says Housing Market to Weaken Further
CNBC
Freddie Mac's subprime losses may hit $5 billion
Biz.Yahoo
Homebuilders Face Possible Bankrupt Reality
INDYchannel.com, IN
News Vegas Valley homes for under $200000
KVBC, NV
That's more than $100000 less than the median price
for a Las Vegas home. Home builders are trying to sell their remaining
inventory and trying to attract ...
Monday Nov 19, 2007
Home prices won't appreciate in US for 5 years, economists say
"The peak in subprime loan adjustments won't been seen until mid or
the third quarter of 2008," Berson said. "So the biggest group of
loans resetting is still a year away."
..."Foreclosures will increase for some time
to come and I mean years, not weeks or months," Capozza said. "I don't
think we've seen the worst of it."
MLive.com, MI
NAR Issues More "Now is a Great Time to Buy" Propaganda
efinancedirectory.com
Goldman Sees Subprime Cutting $2 Trillion in Lending
bloomberg.com
Housing Starts May Drop to 14-Year Low: US Economy Preview
Bloomberg
Banks
can't foreclose because they don't own the loans anymore
nytimes.com
Fairfield, CA housing prices plunge 23% in one year
sfgate.com
CA Inland Empire Houses
for less than $200K
housing-kaboom.blogspot.com
SF Bay Area new house prices down 20% in two years
sfgate.com
Home prices not yet expected to rebound: survey
Reuters
Foreclosure crisis ignites debate in religious circles over debt (CA)
recordnet
The great depression of 2008 – the mother of all
depressions
Functionpix, UK
From dreams to debt (CA)
pe.com
Latinos losing their homes
The Californian, CA
Renters Lose Homes to Subprime Too
Free Market News Network, FL
Tracking the truth on foreclosures
Orange County Register, CA
"The Irvine-based firm's
monthly news releases, chock-full of state-by-state foreclosure
counts, are devoured by a national media ravenous"
Property slump makes realtors shift strategies (NV)
Reuters
Loan was too good to be true (NY)
Newsday.com
S&P cuts $3.7 bln subprime, Alt-A, 2nd-lien RMBS
Reuters
Forty to fifty cents on the dollar: the new reality
sptimes.com
Friday Nov 16, 2007
Housing may drag US into recession
BusinessWeek
Foreclosures Soaring in San Diego
"Thousands of people living in San Diego are
losing their homes because they can’t afford to make their mortgage
payment. Many more are months behind on their payments."
KPBS, CA
 BBC News |
Foreclosures dragging down value of other properties
Bizjournals.com, NC Homeowners in Northeast Florida will lose about $2000 of value in their homes because of foreclosures on subprime borrowers, according to a report by the ... |
Others' Foreclosures Can Hurt You
Motley Fool
Prices fall in all corners of Southern California
SignOnSD
Scottsdale, AZ
Valley sees median home prices plunge!
"Valleywide, the median resale home price fell from $257,000
last October to $242,000 last month."
Scottsdale home, condo sales fall
AZ Central.com, AZ
Barclays Writes Down $2.7 Billion on Mortgage Losses
Bloomberg
 EyeOutForYou.com |
California Cities Lead In Foreclosure Rates
"Detroit and two metro areas in California posted the highest foreclosure rates among the country's 100 largest metropolitan areas in the third quarter this ..." MSNBC |
California can't keep borrowing
Inland Valley Daily Bulletin, CA
Gray Davis' ouster in the wake of the dot-com bubble's
bursting. When Gov. Arnold Schwarzenegger replaced the recalled Davis,
he vowed to end the state's ..
US House supports broad mortgage meltdown response
Reuters
By a 291-127 vote, the House approved a bill targeting
loose and deceptive loan practices that helped inflate the recent
housing bubble. ...
NAR Issues More 'Now Is a Great Time to Buy' Propaganda
"The National Association of Realtors (NAR)
is working overtime to convince potential buyers to step up and buy
into the tanking housing market. In addition to penning a number of
misleading press releases, the association has spent a ton of money on
a public awareness campaign that relies on skewed data and bogus
claims. "
eFinanceDirectory
Ron Paul On CBS News 'Face The Nation' 11-11-07
Thursday Nov 15, 2007
Southern California home sales plummet again:
Median price now down $38K since October 2006!
"Southern
California home sales remained at their lowest level in more than 20
years last month, the result of market uncertainty and a continued
drop in "jumbo" mortgage financing. Prices have dropped back to spring
2005 levels, a real estate information service reported.
A total of 12,999 new and resale houses and condos sold in Los
Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange
counties in October. That was up 4.4 percent from 12,455 for the
previous month, and down 45.3 percent from 23,745 for October last
year, according to DataQuick Information Systems.
"The median price paid for a
Southland home was $444,000 last month, down 3.9 percent from $462,000
in September, and down 8.0 percent from $482,750 for October last
year."
Southland home sales
plummet (CA)
DQ News
Foreclosure Rates in Calif. Now the Highest in US
abc7.com, CA
California, Ohio, Florida Cities Lead U.S. Foreclosure Filings
"California, Florida and Ohio accounted for
more than two-thirds of the 25 metropolitan areas in the U.S. with the
highest foreclosure rates as subprime borrowers and property
speculators fell behind on adjustable- rate mortgages, RealtyTrac Inc.
said."
Bloomberg
The 3 Forces Behind a Market Crash
Motley Fool
Low interest rates also led to excessive lending over
the past few years in the housing market -- and were a contributing
factor to the tech bubble of a ...
|
|
Bakersfield among cities with highest foreclosure rates
EyeOutForYou.com, CA Bakersfield is in the top ten list of places with the highest number of home foreclosures in the nation. five each in Florida and Ohio were among the top 25 ... |
 |
Foreclosure Fire Leads to Homicide Investigation
News10.net, CA On October 22, the lender filed a notice of default, the first step in the foreclosure process. "I never saw anyone coming in and out of that house," said ... |
Foreclosure filings: No slowdown
CNNMoney.comc
Housing Worse, Despite Yelping NAR
Motley Fool
 |
More Dominoes to Fall in the Housing Market?
Seeking Alpha, NY |
Los Angeles
County median home asking price
Falls again: now down $110,000 since 08/2005!
HousingTracker: Median Home Price & Inventory Data for Los Angeles,
California
Housing Tracker
House Mortgage Regulation Bill Aims to Respond to Market Meltdown
CQPolitics.com, DC
Wed Nov 14, 2007
Maui median home price down $65K
since June 2006!
The median price of a single-family home in Maui County dropped 10
percent last month when compared to October 2006.
The median price last month was $585,000, down from
$650,000 during the same month in 2006...
Maui home prices drop 10%, sales up
Bizjournals.com, NC
Home prices to fall further
Long Beach Press-Telegram, CA
Home prices in San Diego flatten to 3.5 year low
SignOnSD
Petition against
subprime bailout
Financialpetition.org
Countrywide loans drop 48 pct; cuts 2100 more jobs
Reuters
Philly home prices decline!
"That is the conclusion of Wharton housing economist
Kevin Gillen, who released the results of a study yesterday
showing that prices in the city declined about 1 percent in the third
quarter, the first such drop since 2003. The study did not include
sales outside the city."
City home prices off - modestly
Philadelphia Inquirer, PA
Area No. 3 in nation in foreclosures (San
Bernardino, CA)
San Bernardino Sun, CA
Mortgage Loan Losses Pose Risk of Systemic Shock
Bloomberg
How to Profit from the Real Estate Bust
doctorhousingbubble.com
Bank of America to take $3 billion writedown
Rutland Herald, VT
... billion debt-related writedown in the
fourth quarter and warned its losses could grow, adding to fears the
nation's housing and mortgage-lending slump ...
Bills.com CEO Reminds Homeowners Foreclosure Does Not Erase Tax Debt
PR Web (press release), WA
 Silicon Alley Insider |
Recession Watch: Echostar Says "Already In Recession"
Silicon Alley Insider, NY |
Home Depot: Continued housing slump sinks profit almost 27%.
Philadelphia Inquirer, PA
 |
Home values down, property taxes still up
EyeOutForYou.com, CA It's no secret Kern County's housing market has taken a serious slide this year and that has some homeowners wondering if their property taxes will be ... |
Tuesday Nov 13, 2007
Home Foreclosures ... Credit Crunch ... Trouble Brewing for US Economy
Socialist Alternative, WA
Home prices to keep sliding with no bottom in sight
Reuters
Homeownership: The Fast Path to Poverty
AlterNet, CA
Bankruptcy reform now haunts lenders
Arizona Republic, AZ
Subprime losses may top $400 bil
CNNMoney.com
New report sees RI house prices falling through ’09
Providence Journal, RI
E*Trade Shares Plunge On Fears Of Bankruptcy, Credit Write-downs
RTT News, NY
The E*Trade's strategy of growing the company by
tripling loans outstanding backfired as borrowers defaulted in large
numbers and US home prices declined. ...
Your neighbor's wealth: Illusion or reality?
InvestmentNews, NY
A Culture of Debt
Cornell University The Cornell Daily
Sun, NY
As the result of backing mortgage-lending companies’
dubious loans to homeowners with low levels of credit, the nation’s
largest banks are facing serious ...
Where Were The Realtors?
Forbes
Construction woes: Workers try to hang on (FL)
SPTimes
Record number file to foreclose (FL)
FloridaToday
Housing glut pushes luxury builder into downward spiral
sun-sentinel.com
In Ten Years Your Life Will Probably Be Terrible
Lew Rockwell, CA
If the Fed refuses to bow to Wall Street whining and
bank pressure, then the credit crisis will continue to spread as the
housing bubble continues to ...
Caveat Emptor: The Tumbling Housing Market
Seeking Alpha, NY
Home sales: The slide goes on
October new listings were up 2.7 percent from October 2006, although
the total so far this year is 3.2 percent lower. Meanwhile, the median
sale price fell to $220,000 -- a 3.5 percent decline compared with
October 2006.
Minneapolis Star Tribune
(subscription), MN
Monday Nov 12, 2007
L.A. median home
price slide accelerates:
Median sinks $55K from September to October
"The median price dropped to $525,000, a
3.7 percent fall from October 2006 when it was $545,000 – and 9.5
percent off this September’s $580,000, according to data provided to
the Business Journal by Melville, N.Y.-based HomeData Corp."
LA County’s Median Home Price Finally Falls
Los Angeles Business Journal
(subscription), CA
Housing meltdown hammers construction industry
Beaufort Gazette, SC
More banks brace for subprime spanking
USA Today
Insurers to pay $2bn in subprime cases
MSNBC
Bankruptcy law leads to more foreclosures
Asbury Park Press, NJ
 AZ Central.com |
Phoenix-area foreclosures up more than 500 percent
Mohave Valley News, NV PHOENIX (AP) - Home foreclosures in metropolitan Phoenix have soared more than 500 percent in 2007 as the slowdown in the housing market and rising interest ... |
Sorry Folks, the Housing ATM is Closed
seekingalpha.com
Down the Real-Estate Hole
usnews.com
 The Free Lance-Star |
Median sales price dipped 9.1 percent
The Free Lance-Star, VA BY BILL FREEHLING The median sales price for homes in the Fredericksburg area slipped to $300000 in September, a 9.1 percent drop from September 2006. ... |
Credit crunch has only just begun
reuters.com
Housing Crash
Repeating History in Florida
Market Oracle
A Real
Estate Speculator Goes From Boom to Bust
nytimes.com
Therapists see surge in patients stressing over their house values
SFGate
Big declines needed in markets around the country
money.cnn.com
Credit tightens as foreclosures begin to rise (PA)
GoErie.com
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