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Blog Details for "National Bubble"
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
Condo crash
2008-04-10 13:41:00 More evidence of the housing crash. Condo projects all over the country are being postponed. More About: Real Estate , Crash
Paul Krugman: In places like Miami or Los Angeles, you could be looking at
2008-04-10 13:25:00 Fortune Magazine interviewed Princeton economist Paul Krugman : How far do you think home prices will fall? My preferred metric is the ratio of home prices to rental rates. By that measure, average home prices nationally got way too high. We’ll probably basically retrace all that. So that’s about a 25% decline in overall home prices. Only a ... More About: Real Estate , Los Angeles , Miami , Places
The White House has a new housing plan
2008-04-09 20:39:00 According to the New York Times: WASHINGTON ? The Bush administration on Wednesday proposed a new effort to help homeowners in danger of foreclosure by loosening the eligibility criteria for new mortgages insured by the federal government. The program seemed designed, at least in part, to pre-empt legislation sought by Congressional Democrats for a much broader ... More About: House , Real Estate , White House , White , Housing
Oil hits new record price: $112
2008-04-09 20:04:00 According to Yahoo Finance: Oil surges to record on weak supply NEW YORK (CNNMoney.com) — Oil prices surged to record levels Wednesday after a government report showed an unexpected decline in crude supplies. Light, sweet crude for May delivery rose $3.55 to $112.05 a barrel, after touching a record $112.15 in Globex trading. That beat the intraday mark ... More About: Commodities , New Record , Price , Hits , Record
IMF: The U.S. is falling into a recession
2008-04-09 17:54:00 According to the USA Today: U.S. falling into recession, IMF predicts; world to feel pain WASHINGTON (AP) ? The world economy will slow sharply this year, according to an International Monetary Fund forecast, with the United States sliding into a recession amid housing, credit and financial slumps. The IMF, in a World Economic Outlook released Wednesday, slashed growth ... More About: Real Estate , Mortgages , Recession
George Soros: subprime losses could be up to $1 trillion
2008-04-09 17:19:00 According to Reuters via Yahoo Finance: Soros says global subprime losses could top $1 trillion NEW YORK (Reuters) - Billionaire investor George Soros said on Wednesday that global losses from the subprime mortgage debt crisis could top $1 trillion. “Losses being recognized now amount to $1 trillion,” from the subprime mortgage debt crisis, said Soros, asked about an ... More About: Real Estate , George Soros , Mortgages
Greenspan keeps ignoring the facts
2008-04-09 13:59:00 According to CNBC: Fed Didn’t Inflate the Housing Bubble: Greenspan Former Federal Reserve Chairman Alan Greenspan has defended himself from charges that easy U.S. monetary policy created the current credit crisis by inflating a housing bubble, and instead blamed professional investors. In an article in Monday’s Financial Times newspaper, Greenspan wrote that the housing bubble which inflated between ... More About: Facts , Real Estate , Mortgages
Greenspan Goes on Defensive
2008-04-09 13:29:00 This from the Wall Street Journal: I was praised for things I didn’t do,” Mr. Greenspan said during one of three interviews at his sun-drenched office in downtown Washington, D.C. “I am now being blamed for things that I didn’t do.” Now 82 years old, Mr. Greenspan wants to set the record straight before the ink dries ... More About: Real Estate , Mortgages
Bush is against the current version of the housing bailout
2008-04-08 21:07:00 This is great news!!! Reuters just reported the following: White House says can’t support Senate housing bill WASHINGTON (Reuters) - President George W. Bush cannot support a homeowner rescue bill drafted by Senate lawmakers because it contains too many costly and extraneous elements, his spokeswoman said on Tuesday. Specifically, the White House rejects provisions that would give a ... More About: Real Estate , Current , Housing , Mortgages
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
More articles from this author: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 1, 2, 3, 4, 5, 6, 7 |
