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National BubbleNational BubbleNews and commentary about the Real Estate bubble. Exposing the financial bubbles in the US economy and the greedy people behind it. Articles
Fed Minutes: the economy is getting worse
2008-04-08 20:35:00 Fed seems to believe that the US economy if moving closer to a recession. According to CNNMoney.com: Fed sees economy getting worse NEW YORK (CNNMoney.com) — Some members of the Federal Reserve are worried about the possibility of a “severe and protracted downturn” in the U.S. economy, according to the minutes of the central bank’s latest minutes released ... More About: Economy , Real Estate , Mortgages , Minutes
Pending home sales hit a new record low
2008-04-08 16:46:00 More bad news for the real estate market. According to the NAR: The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in February, slipped 1.9 percent to 84.6 from an upwardly revised reading of 86.2 in January, and was 21.4 percent lower than the February 2007 index of 107.6. ?The slip in pending ... More About: Real Estate , New Record , Mortgages
Foreclosures also hit the high end properties
2008-04-08 13:11:00 This from CNBC: Million-dollar fixer-upper for sale: five bedrooms, four baths, three-car garage, cavernous living room. Big holes above fireplace where flat-screen TV used to hang. The U.S. housing crisis has come to McMansion country. Just as the foreclosure crisis has hollowed out poorer neighborhoods, “for sale” signs are sprouting in upscale developments so new they don’t show ... More About: Real Estate , Foreclosures , Mortgages , High , Properties
Gasoline prices hit a new record
2008-04-07 19:46:00 Oil and gasoline prices keep going up, hurting consumers and the US economy. According to the USA Today: NEW YORK ? Gas prices rose further into record territory Monday, pulled higher by resurgent oil futures and a growing belief that gasoline supplies are falling as the summer driving season approaches. Oil futures, meanwhile, jumped more than $2 a ... More About: New Record , Gasoline , Record , Prices
More than one housing bubble
2008-04-07 17:06:00 We’ve been saying on this blog for almost two years that the housing bubble is just a sympthom of a much bigger problem: Americans obsession with spending and debt. I found this interesting article on the Washington Post web site: There are two views of the financial crisis. The first is that we face the bursting of ... More About: Real Estate , Housing Bubble , Housing , Mortgages , Bubble
Wall Street Journal: Shrinking Prices, Rising Delinquencies
2008-04-07 13:30:00 Click on the map to go to the Wall Street Journal article. More About: Real Estate
Job losses felt nationwide
2008-04-06 13:05:00 The U.S. economy lost 80,000 jobs in March and almost 250,000 since the beginning of the year. More About: Real Estate , Felt , Losses
Addicted to debt
2008-04-05 13:55:00 Another great CBS video showing how addicted we are to borrowing money from other countries. More About: Debt , Addicted
Consumers are falling behind
2008-04-04 17:25:00 This from the Sun Sentinel: Loan delinquencies reach 15-year high The number of consumers who fell behind on payments for auto, home-equity and credit-card loans spiked late last year to the highest level in 15 years, according to an American Bankers Association survey released Thursday. Consumers missed payments by at least 30 days on 2.65 percent of loans ... More About: Real Estate , Mortgages
80,000 jobs lost in March
2008-04-04 15:24:00 The job market is getting worse every month. According to CNBC: Economy Loses 80,000 Jobs , Worse Than Expected US employers cut payrolls for a third month in a row in March , slashing 80,000 jobs for the biggest monthly job decline in five years as the economy headed into a downturn, government data on Friday showed. The Labor Department ... More About: Lost
Real financial heros part 1 of 3
2008-04-04 13:39:00 Unfortunately, this is representative of most Americans. More About: Financial , Heros , Real , Part
People can?t move until they sell their homes
2008-04-04 13:06:00 This from the New York Times: The rapid decline in housing prices is distorting the normal workings of the American labor market. Mobility opens up job opportunities, allowing workers to go where they are most needed. When housing is not an obstacle, more than five million men and women, nearly 4 percent of the nation?s work ... More About: People , Real Estate , Homes , Mortgages , Move
Mortgage rates are going up again
2008-04-03 17:56:00 So much for relief to struggling home owners. According to CNBC: Mortgage Rates Climb as Housing Grasps For Recovery Mortgage rates edged upward over the past week, despite the Federal Reserve’s aggressive cost-cutting measures and Wall Street’s eagerness to get past the housing crisis. A 30-year fixed-rate mortgage now costs 5.88 percent, up slightly from last week’s 5.85 ... More About: Mortgages
Next bubble to burst: credit card and other consumer debt
2008-04-03 16:59:00 We’ve been talking about the consumer debt bubble for a long time and we are now seeing more evidence of that. According to Bloomberg: Overdue Consumer Debt s Highest Since 1992 April 3 (Bloomberg) — Consumers fell behind on car, credit-card and home-equity loans at the highest level in 15 years during the fourth quarter, another sign the U.S. ... More About: Card , Credit , Credit Card
Jobless claims jump to over 407,000
2008-04-03 15:44:00 According to the USA Today: Jobless claims shoot up 38,000 to highest since Sept. ‘05 WASHINGTON ? The number of people signing up for unemployment benefits last week shot to the highest level in more than two years, fresh evidence of the damage to a national economy clobbered by housing, credit and financial crises. The Labor Department reported ... More About: Real Estate , Mortgages , Claims , Jump
Who was responsible for the housing bubble?
2008-04-03 13:09:00 Very interesting article in the New York Times: The real estate bubble of the last decade had many fathers. Investment bankers stopped worrying about whether borrowers could repay their mortgages. Alan Greenspan, the former Federal Reserve chairman, ignored pleas to crack down on this faith-based lending. Home buyers decided that house prices would soar forever. Real ... More About: Real Estate , Housing Bubble , Housing , Mortgages , Bubble
Flipper: the Subprime Borrower
2008-04-02 13:00:00 Courtesy of StopTheHousingBailout.com More About: Real Estate , Mortgages , Subprime
More common sense talk from Peter Schiff
2008-04-01 13:51:00 Peter Schiff, one of the smartest guys around and one of the first people who warned us about the burst of the housing bubble, wrote this excellent article for the LA Times. These are some of the things he says in this article: “The government is trying in vain to get funds flowing again and put a ... More About: Sense , Real Estate , Talk , Common , Mortgages
Is the big bailout coming?
2008-03-31 19:28:00 According to CNBC: WASHINGTON (Reuters) - The Bush administration is finalizing a plan to rescue thousands of homeowners facing foreclosure by helping them refinance into more affordable loans, the Washington Post reported in its Saturday edition. The proposal is aimed at assisting borrowers who owe their banks more than their homes are worth due to declining home ... More About: Real Estate , Mortgages , Bailout
HUD Secretary Alphonso Jackson is resigning today
2008-03-31 16:32:00 According to the LA Times: WASHINGTON — Housing and Urban Development Secretary Alphonso Jackson is resigning today, according to a government official. Jackson is under criminal investigation at the same time the housing industry is in a crisis so serious that it has imperiled the nation’s credit markets, placing the country on the brink of what some economists ... More About: Real Estate , Today
It is a Credit Bubble
2008-03-30 13:10:00 Americans are addicted to credit and lower interest rates make the problem even worse. This from the Wall Street Journal: The question worth asking now is: Why do we love leverage so much that it hurts? The simple answer, according to personal finance experts, is that we want more — more money, more house, more car, just more, ... More About: Credit , Real Estate , Mortgages , Bubble
Stop The Mortgage Bailout!!!
2008-03-30 06:24:00 As lawmakers return from their two-week spring recess, more a more voices are calling for a mortgage bailout. All those greedy people who profited from the housing bubble are now expecting the federal government to come to the rescue. That is why now is the best time to tell Congress that we oppose any type ... More About: Real Estate , Mortgage , Stop , Mortgages , Bailout
Tribute to Peter Schiff
2008-03-28 12:37:00 Thanks “meltdown”!!! More About: Real Estate , Mortgages , Peter , Tribute
Home sellers need to come back to reality
2008-03-28 12:21:00 This from the New York Times: Just try to imagine stock prices staying roughly flat over a three-year period while sales volumes sank because investors considered the market overvalued. Bear Stearns is still worth $150 a share, and I?m not selling until someone pays me $150! Real estate, though, is different. For both economic and psychological reasons, ... More About: Reality , Real Estate , Home , Back , Sellers
Next bubble ready to burst: Home Equity Loans
2008-03-27 22:21:00 The New York Times has an excellent article about the next bubble that is about to burst: home equity loans. Equity Loans as Next Round in Credit Crisis Little by little, millions of Americans surrendered equity in their homes in recent years. Lulled by good times, they borrowed ? sometimes heavily ? against the roofs over their ... More About: Real Estate , Home , Mortgages , Bubble
The Florida housing market is imploding
2008-03-26 23:56:00 The housing market in Florida is getting worse by the day. According to the Miami Herald: February was another slow month for South Florida home sales, even though prices continued to fall. South Florida home prices continued to drop in February even as the national real estate market showed a slight, unexpected sign of improvement after months in ... More About: Real Estate , Market , Housing , Mortgages
Even Paulson says that home prices need to keep falling
2008-03-26 15:45:00 According to CNBC: Treasury Secretary Henry Paulson said Wednesday that housing prices need to be allowed to continue to drop while every effort is made to ensure the adjustment does not cause excessive harm to the economy. “A correction was inevitable and the sooner we work through it, with a minimum of disorder, the sooner we will ... More About: Real Estate , Home , Mortgages , Prices
New home sales fall 1.8% in February
2008-03-26 15:11:00 According to CNBC: New-Home Sales Plunge 1.8% To a 13-Year Low Sales of new single-family U.S. homes fell 1.8 percent in February while the median sales price was down from a year ago and inventories fell modestly, according to a government report on Wednesday that delivered uneven news for the ailing housing sector. The pace of sales fell ... More About: Real Estate , Mortgages , Fall
A flood of new condominiums is coming to the market
2008-03-26 12:03:00 According to the Wall Street Journal: The condominium market is about to get worse as many cities brace for a flood of new supply this year — the result of construction started at the height of the housing boom. More than 4,000 new units will be completed in both Atlanta and Phoenix by the end of the ... More About: Real Estate , Market , Condominiums , Flood
Home prices continue to fall
More articles from this author:2008-03-25 15:38:00 The Standard & Poor’s/Case-Shiller index was released today and the news couldn’t be worse. Record Declines in Home Prices Continued in 2008 According to the S&P/Case-Shiller Home Price Indices New York, March 25, 2008 ? Data through January 2008, released today by Standard & Poor?s for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, ... More About: Real Estate , Mortgages , Fall 1, 2, 3, 4, 5, 6, 7 |
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