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News Archives
December 2007
Monday Dec 31, 2007
Defaults on insured mortgages at record high
Reuters
Illinois Median Sale Price Off 3.0% at $193000
RisMedia.com (press release), CT
You Can’t Drive Your House to Work
Minyanville.com, New York
Inland Empire near top of foreclosure list
(Southern California)
San Bernardino Sun, CA
New-home sales rate hits 12-year low
Inman.com, CA
Daytona Beach, FL median home
price sinks to $188K!
"Existing home sales and prices in the
Daytona Beach area continued their downward spiral in November, with
the median price skidding 9 percent from the same period last year to
$188,700, the Florida Association of Realtors reported today...
Area home sales, prices sink again in November
Daytona Beach News-Journal, FL
Don't Expect a Housing Bottom Until Late 2009?
Seeking Alpha, NY
US November Existing-Home Sales Probably Matched Record Low
Bloomberg
Economists: Foreclosures, falling home prices could lead to recession
Foster's Daily Democrat, NH
Friday Dec 28, 2007
San Diego leads in home price
declines for October
San Diego's home prices tumbled more in October than those in any
major metropolitan area in the nation, according to a report released
Wednesday.
Local monthly home price decline most severe in nation
North County Times, CA
Drop in Housing Prices Hits Metro Atlanta
Black Enterprise, NY
 |
Defaults moving beyond sub-prime
Los Angeles Times, CA She said she didn’t fully understand the loan terms when she refinanced her San Diego condominium 15 months ago with an option ARM. ... |
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Housing crisis casts a wide economic net
St. Louis Post-Dispatch, United States |
Waves of US foreclosures pound shores worldwide
Washington Times, DC
Mass. home sales sink further
Cape Cod Times, MA
The median value of a single-family home was $330000
in November, down 2.9 percent from the same month last year. The
median condo price in the state ...
Mortgage Meltdown, Phase 2
Free Internet Press, NY
Mortgage rates climb
Pittsburgh Tribune-Review, PA
 Earthtimes |
Subprime Saga : To Be Continued In 2008
Forbes, NY "It ain't over 'til it's over," a wise man said, and he might as well have been talking about the subprime crunch, which seems destined to depress financial ... |
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The Cold Truth: Home Prices Must Fall
25% - 30% Everywhere! "There are "experts" out there who once preached that there was no bubble; they now preach that all real estate is local and that prices in your neighborhood won't be affected by foreclosures and price declines elsewhere. The cold, hard truth is that foreclosures are serving only to hasten the painful process of shifting housing prices back to a level the market can sustain. Prices must and will fall. Everywhere. Probably 25% to 30% from their peak. How to survive the bust ...Los Angeles Times, CA |
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Deflation Nightmares: Lower Prices Scare Off Consumers
Lew Rockwell, CA As Friedman pointed out, "For one thing, we’re hoping to sustain the housing bubble, asset-price bubble, and any other bubbles that we can invoke through ... |
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Midwest housing crash
Columbus Dispatch, OH |
Thur Dec 27, 2007
Denmark Bank predicts Ron Paul presidency, US depression
USA Daily
Ron Paul has been critical of the Federal Reserve and
has blamed the Federal Reserve for causing the real estate bubble and
crash. ...
Decline in US home prices deepening across the country
Minneapolis Star Tribune, MN
Pain Street USA: '08 housing outlook
CNNMoney.com
The United States is deep in its worst housing slump
since the Great Depression, and according to a new report, it's not
going to ...
US home prices fall at record pace
Los Angeles Times, CA
Foreclosed homes hold the tales of desperate lives
Washington Times, DC
Tampa Home Price Fall Among US Biggest
Tampa Tribune, FL
US home prices fall 10 straight months
Bizjournals.com, NC
Subprime Crisis Hits Holidays
NPR
Edgy buyers, mortgage crunch spell more housing gloom in 2008
marketwatch.com
Biggest Housebuilder Writedowns Are Yet to Come
bloomberg.com
Wed Dec 26, 2007
US Economy: Home Prices Declined at Faster Pace (Update1)
Bloomberg
Recession to hit California
first!
"California is for sure going to experience a recession," said Esmael
Adibi, director of the Anderson Center for Economic Research at
Chapman University...
Calif.'s Housing, Credit Crises Raise Fears Of State Recession
CNNMoney.com
Mortgage mess tops 2007 housing topics
Mortage 101
 |
Reeling market taught homeowners hard lessons
EmeraldCoast.com, FL "The slumping real estate market of 2007 took a dramatic toll on sellers, buyers and everyone in between. ... |
Home Prices Plummet: No Pain, No Gain?
CNBC, NJ
Falling prices will only add to the foreclosure
crisis, making it impossible for some folks to get out of mortgages
they can’t afford, because they won’t be ...
Housing bailout designed to avoid lawsuits but won't
Reuters
Crisis may make 1929 look a 'walk in the park'
telegraph.co.uk
The
Sound of a Bubble Bursting
nytimes.com
Sacramento median asking price
plunges $27,000 in last 2 months!
HousingTracker.net: Median Home Asking Price & Inventory Data for
Sacramento, California
Housing Tracker
 CNBC |
Monday Dec 24, 2007
Federal measures will not reverse housing slump
Asbury Park Press, NJ
LA median price
sinks $70K year over year!
California median sinks by $66K
"In Los
Angeles County, the state's biggest market, the median price of a
previously owned house dropped in November to $520,960 from $590,790 a
year earlier, the report said. Sales fell 36.5 percent...
"Statewide, the median price sank to $488,640 from $554,500 a
year earlier...
Median home price down 12% in one year
Long Beach Press-Telegram, CA
On The Night Before Christmas, All Through the House...
Oops We Just Lost the House!
Huffington Post, NY
Overall East Bay home sales down 36-50 percent year to year
Bizjournals.com, NC
The median home price for Solano last month was
$375550, down 14.8 percent from $441000 in November 2006. In the
nine-county Bay Area, 5127 homes sold in ...
When the Real Estate Market Will Rebound Is Anybody’s Guess
“I think 2008 will be the worst year,” said Palacios. “’07 was bad,
very bad, but ’08 is going to be worse.”
Palacios predicts the residential slowdown will begin to
gradually improve in 2009. He also sees median prices continuing to
fall through 2010, flatten in 2011 and rebound in 2012....
San Diego Business Journal, CA
Foreclosing on Christmas
Los Angeles Times, CA
The four family members are trying to save their Boyle
Heights home from foreclosure. "It doesn't feel like Christmas," Maria
Debora said in Spanish on a
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Real Estate: Housing Headaches Here To Stay
Worcester Business Journal, MA Real estate has perhaps been one of the gloomiest sectors this year: The industry has faced declining prices, increased foreclosure rates and homes that sit ... |
Friday Dec 21, 2007
Subprime bailouts are the last thing we need
New Hampshire Business Review, NH
Charting the housing bubble
"What the chart shows is that this decade
we’ve had a national housing bubble that is somewhat bigger than the
bubble in LA in the late 1980s — a bubble that was followed by a 20%
drop in nominal home prices, and a 30% fall in real prices....
New York Times Blogs, NY
Housing woes seen leading to manufacturing recession next year
MarketWatch
By Shawn Langlois, MarketWatch SAN FRANCISCO
(MarketWatch) -- The housing collapse will continue to roil the US
manufacturing sector through next year ...
Companies evicted amid housing slump
Daily Pilot, CA
The recent housing market rut, he said, had led to a
rise in eviction notices. “Because of the slump in housing and loans
being readjusted, there’s more now
2008 not so great, says builders' economist
Inman.com (subscription), CA
Mortgage fees get more expensive
Scripps News, DC
The companies say they introduced the new charges to
compensate for the risks inherent in guaranteeing mortgages in an era
when house prices are declining, ...
Death to the Fed! A Ron Paul manifesto
Salon
Ron Paul says flat out: Let's abolish the Federal
Reserve and return to a currency based on some "stable commodity,"
like gold or silver. ...
Time To Buy? Not So Fast
seekingalpha.com
Truth of the 10 Percent Southern CA Price Drop
DR.housingbubble.com
Foreclosure mess will get worse (NH)
New Hampshire Business
Review, NH
The foreclosure situation in New Hampshire will get
worse before it gets better, with about 6000 state families facing the
possibility of losing their home
Amazing New Ron
Paul Video:
Abolish the IRS, Abolish the Federal Reserve,
End the War: Vote Ron Paul in '08!
..
Thursday Dec 20, 2007
American Homeowners Still Having Trouble With Mortgage Payments
WBKO, KY
 MSNBC |
Americans: The
Debt Slaves
Slavery was outlawed in the United States. But many people don't
realize that debt slavery is alive and not so well today.
What do I mean by debt slavery? Let me give you three examples....
Mortgage and credit card debt relief:
Do you really have to pay all your bills?
American Chronicle, CA
NC home foreclosures up 143%
Bizjournals.com, NC
Mortgage Rates Rise While Application Activity Plummets
MortgageNewsDaily.com, AZ
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Housing Trouble Spills Over into Commercial Real Estate
Voice of San Diego, CA The slump that has plagued the San Diego County housing market is beginning to show on the commercial side. The trouble defies the industry ... |
Taxpayers Shouldn't Be Held Liable For Bad Decisions By Borrowers,
Lenders
theOneRepublic, CA
 CNBC |
 Washington Post |
Reverse mortgage threatens family's home
9NEWS.com, CO
The Problem of Artificially Inflated House Prices
Conde Nast Portfolio, NY
Wed Dec 19, 2007
SoCal home price
decline sets another record:
Median sinks back to March 2005 level!
...November home sales in Southern California posted a
two-decade low for the month, while the median home price fell 10.3
percent from a year earlier, a record year-over-year decline, a report
released on Tuesday said....
Southern California home prices tumble in November
Reuters
Ameriquest caught ripping-off consumers!
“We caught Ameriquest ripping off thousands of Michigan consumers,”
Ross said. “This settlement represents a big win for Michigan
consumers.”
$14 million awarded to Mighigan borrowers in Ameriquest settlement
Livingston Daily, MI
Fed's lending proposals too late to save homes
SiliconValley.com, CA
US Foreclosures Rose 68 Percent in November, RealtyTrac Says
Bloomberg
Nevada Leads In Foreclosures – and Rescue Scams
Consumer Affairs
With Nevada leading the nation in the rate of
foreclosures, that state’s attorney general is cautioning consumers
about an alarming incrase in foreclosure scams
Gov. Schwarzenegger to Discuss Help for Homeowners Facing Foreclosure
NewsBlaze, CA
Ventura County, CA see median home price fall by $56K
since last year!
...Ventura County's median price fell to $521,250 in November,
a 9.7 percent drop from $577,500 last year, according to the La
Jolla-based real estate information service. The median is the
midpoint, where half the homes sold for more and half for less....
Home sales tumble 27.9 percent
Ventura County Star, CA
Home prices in San Bernardino / Riverside, CA
continue plunge!
San Bernardino County home prices fell by 13.2 percent in November,
according to DataQuick Information Services, but that wasn't the worst
report for Inland Empire sellers
No, Riverside County prices fell even more, dropping 16.5 percent from
November 2006 to the same month in 2007.
Home prices dropping
Inland Valley Daily Bulletin, CA
Mass. house, condo sales plunge in November
...Meanwhile, the median price of homes sold
in the state also continued to decline, falling 5.8 percent to
$295,000 from $313,000 in November 2006....
Providence Business News, RI
A Look at Past U.S. Home Price Corrections
eFinance Directory
Tuesday Dec 18, 2007
Fed tightens up lending rules
CNNMoney.com
|
MSNBC |
Housing slump might usher in recession
MSNBC What worries industry watchers the most, however, is the possibility that the housing troubles will plunge the economy into a recession. |
Congress Quits Without Action, Leaves Foreclosure Tsunami Rising
Everywhere
Executive Intelligence Review (EIR), VA
 |
(San Diego) Housing Market Falls 10
Percent In November
KGTV, 10News.com, CA SAN DIEGO -- The median price of a home in San Diego County fell nearly 10 percent in November, compared to the same time last year, according to figures ... |
Ron Paul is now the GOP frontrunner
USA Daily
Mass. home sales hit 16-year low
Bizjournals.com, NC
The median price for single-family homes in November
dropped 5.8 percent from $313000 in 2006 to $295000 this year,
according to TWG's method of calculating ...
Home prices
continue plunge in San Fran,
San Jose, Sunnyvale, Santa Clara, CA
"There were 61 homes sold during the month,
compared to 278 in the same period last year. The median price was
$647,000, down from $709,950 in October 2006.
In the San Francisco, San Mateo, Redwood City area, sales were down
75.8 percent, from 157 to 38. The median price was $659,000, compared
to last year's $750,000."
October home sales down 78% in valley Silicon Valley / San Jose ...
Bizjournals.com, NC
BUFFALO, NY MEDIAN HOME PRICE
SINKS TO $89k
"And the median price of all transactions dropped below
$100,000 last month for the first time since February. November's
median was $89,900. (A median is a midpoint, with half of all prices
being higher and half being lower.)"
Home sales set record, but prices drop
Bizjournals.com, NC
 Sabah |
Housing Starts in US Probably Fell to 14-Year Low in November
Bloomberg Work began on 1.176 million houses at an annual pace, down 4.3 percent from October, according to the median estimate of 70 economists surveyed by Bloomberg ... |
Renters facing eviction as foreclosures rise
Winknews.com, Florida
The collapse of the modern day banking system
Online Journal, FL
Riverside, CA
median asking price plunges $25K in
last 2 months!
HousingTracker.net: Median Home Asking Price & Inventory Data for
Riverside, California
Housing Tracker
San Diego median
asking price takes another
$28,000 dip since October!
HousingTracker.net: Median Home Asking Price & Inventory Data for San
Diego, California
Housing Tracker
Housing prices dip this year in NH, Maine
Housing sale prices have been falling this year in parts of New
Hampshire and Maine....
Foster's Daily Democrat, NH
Subprime loan "mods" still fall short-Moody's
Reuters
 |
When Mortgages Made Sense
Newsweek |
Monday Dec 17, 2007
Experts: Housing slump may trigger recession
Cherry Hill Courier Post, NJ
Ron Paul breaks
one-day fundraising record with Tea Party!
Arlington (VA) and San Antonio
(TX) - The Ron Paul campaign has done it again, bringing in their
second and largest ever "Money Bomb" via Internet donations. On
November 5, 2007, in honor of the anniversary of Guy Fawkes Day, some
Ron Paul supporters unaffiliated with the Ron Paul 2008 campaign
decided to give Ron Paul a monetary boost.
Ron Paul hauls in $6 million in one day via Internet
TG Daily
|
Fannie: Home prices to sink 4-5% in '08
CNNMoney.com
NEW YORK (CNNMoney.com) -- Average home prices will
decline another 4 to 5 percent in 2008, according to Fannie Mae
Chief Executive Dan Mudd. ...
Housing prices dip this year in NH, Maine
Foster's Daily Democrat, NH
By 2005, the median home price was more than triple
the median family income of $68000. The pace of sales is down by
more than 25 percent since peaking in ...
A Tale of 5 Cities: Not All Bubbles Burst at the Same Time
DrHousingBubble
House Prices Continue To Fall In Property Market Downturn
MyFox Chicago, IL
Banks aren't buying it: optimism fading on housing-head hunters
seeking "foreclosure specialists"
OpEdNews, PA
Delaware real estate market hits wall as home prices slide
The News Journal, DE
Beware of home sellers' freebies
MarketWatch
Greenspan Spins the Housing Bubble
TPMCafe, NY
Ron Paul Proven Right Again
Lew Rockwell, CA
Ron has been right in all he has warned about the
dangerous Federal Reserve, and the reckless fractional-reserve banking
system. Have they created a second ...
Welcome to the Global Recession
Sunday Dec 16, 2007 (Ron Paul Tea Party Day!)
Ron Paul on pace to raise over 7million today
"Ron Paul’s campaign has incredible popular
support as he continues with his campaign theme of peace, freedom, and
prosperity. Paul has had harsh words for the Federal Reserve and the
housing crash that was created as a result of loose monetary policy
and excessive
government
spending."
USA Daily
Watch the Tea Party Graph Live Now
RON PAUL = No More Federal Reserve
Housing Crash Deepens in 2008 as US Realtors See Record Drop
Bloomberg
Median home prices declined in the US this year, the
first annual drop since the Great Depression, according to forecasts
from the National Association of ...
 CNNMoney.com |
Builders' lobbyist: We made too many homes
CNNMoney.com Baker expects a flood of foreclosures and even a recession at some point next year. "The only way they [new home sales and building] normalize next summer ... |
Bush lets banks write rules for mortgage relief
Workers World
Families fearing loss of homes seek lender help
DetNews.com, MI
Home interest rate freeze solves little
DetNews.com, MI
US mortgage rates move up
MarketWatch
 |
Countrywide Subpoenaed by Illinois Attorney General
The Consumerist, NY "This company's conduct is a prime example of unscrupulous mortgage brokers that has led to a foreclosure crisis for many Illinois homeowners," Ms. Madigan ... |
Home mortgage bailout more political expediency than viable solution
Stockton Record, CA
Mortgage crisis inflicts collateral damage
MSNBC
Housing Market's Credit Crisis Raises Worries in Higher Education
Chronicle of Higher Education
Colorado foreclosures set record in '07
Aspen Times, CO
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Odds Of US Recession Rising - Greenspan
RTT News, NY Most economists are concerned that a severe slump in the housing market, worsening credit market crisis and turbulence on Wall Street are endangering the ... |
Median cost takes dive in home resales (AZ)
Arizona Republic, AZ
Median prices fell to their lowest level in 2½ years
as the number of housing resales slowed to a crawl in November. The
median price in the Phoenix area
Fitch analyst sees 40 pct chance of US recession
Reuters
"Our judgment is that it's hard to see the slowdown
we've seen in the housing sector won't spill over in a more
powerful way to consumer and domestic demand ...
 Turkish Press |
Bank of America Sees Bigger Writedowns
Motley Fool "However, we are closely watching the impact on consumers of the housing recession, higher energy costs and subprime loans." |
MD. Housing Woes to Persist
Motley Fool
Dallas-Fort Worth sellers trim home prices in hopes of landing a
winter sale
Dallas Morning News, TX
Thursday Dec 13, 2007
Home resales, median prices down in Phoenix area
Bizjournals.com, NC
Foreclosure crunch hits home in Stockton (CA)
Los Angeles Times, CA
Central banks coordinate actions amid fears of a global financial
breakdown!
World Socialist Web Site, MI
The Latest Federal Rate Cut - Another Attempt to Bolster the Real
Estate Market
American Chronicle, CA
US crisis sends British housing market sliding
Arizona Republic, AZ
Toledo housing market continues to decline
13abc.com, OH
THE MOTHER OF ALL BAD IDEAS
"Without question,
the Bush administration's mortgage rescue plan will exacerbate, not
alleviate, the problems in the housing market....
Free Market News Network, FL
 CNBC |
China central bank chief says hopes US will not overreact on
subprime
Forbes, NY XIANGHE, China (XFN-ASIA) - China's central bank chief Zhou Xiaochuan said he hopes the US has a quick but correct response to the subprime lending crisis, ... |
SUBPRIME TODAY US foreclosures jumped in November
MarketWatch
How the Housing Bubble Turned Bust
Elliott Wave, GA
Wed Dec 12, 2007
Fed Lowers Rate by a Quarter Point to 4.25 Percent
Bloomberg
Kerch: Rate cut won't help housing market
MarketWatch
The "Fed will cut" interest rates today. But
MarketWatch real estate editor Steve Kerch says interest rates aren't
the problem. Interest rates are low and
Fannie Mae Raises Home Price Decline Forecast to 5%
Bloomberg