Treasury Secretary Henry Paulson said an agreement was near on a proposal to help thousands of at-risk homeowners avoid foreclosures by temporarily freezing their mortgage rates. One of the last issues: the exact length of time the low-teaser rates w
U.S. foreclosure filings nearly doubled in October from the same month last year, the latest sign many homeowners are falling behind on mortgage payments and increasingly losing their homes, according to a mortgage research company.
Prices of existing U.S. single-family homes in the third quarter slumped 4.5 percent from a year earlier, matching a record decline from the previous period as the housing downturn deepened, according to a national home price index. The S&P/Case-Shi
Rising foreclosures will lead to billions of dollars in lost economic activity next year in the nation's major metropolitan areas, but homeowners and financial institutions have the ability to work together to contain the effects, according to a
The Supreme Court shows its disdain for the Bill of Rights by refusing to revisit a lower court decision upholding a San Diego County practice of routinely searching homes of welfare recipients absent reasonable suspicion of wrongdoing.
"We all know that more hits from these subprime loans are coming, but are having a devil of a time figuring out how it will happen or how to stop it," said Lawler, who was once chief economist for Fannie Mae. "We've never been in t
Does are current definition of "middles class" (not to mention "upper class") include having insufficient cash assets to make even a token down payment on a home?
The mortgage crisis intensified as Freddie Mac, the nation's No. 2 buyer and guarantor of home loans, posted its largest quarterly loss ever and warned that it may need to curtail its business unless it can raise fresh capital. Freddie Mac lost $
Don't have time for the latest gossip in the neighborhood? No problem, just get on the computer and find out. Pittsburgh, Seattle, Denver: most of the country's larger cities are listed.
Others think this estimate conservative, Dr. Robert Shiller of Yale University has calculated that home prices would have to decline by 50% to be at par with cost of rental housing.
Listings are shown with green signs, foreclosures are represented by gavels. Foreclosures can be at any stage from having received a "Notice of Trustee’s Sale" to being a REO.
A soaring number of U.S. homeowners struggled to make mortgage payments in the third quarter, with properties in some stage of foreclosure more than doubling from the same time last year, a mortgage data company said.
The latest data on home prices show that the downturn in the housing market is getting worse, rather than better, raising questions about consumers' ability to keep propping up the economy. American consumers have taken a hit not just from fallin
At the current existing-home sales rate of 5.04 million units a year, it would take a full 10.5 months to sell the 4.4 million existing homes now on the market. The supply of existing single-family homes was at 10.2 months in September—the highest si
Here's a video from about a year ago featuring Peter against 4 others who's thinking at the time the housing market was going to see appreciation. Yeah right! Also, Peter is the son of tax resister Irwin Schiff. Peter also endorses Ron Pau
Sales of existing homes had a record decline in September while median home prices fell by the largest amount in nearly a year, reflecting deepening problems in the troubled housing market. The current downturn is already more severe than the housing
ABX indices measure Derivatives, a form of financial tool that reduces risk for one party while offering high returns for another. It's a form of insurance as well, though it is dependent upon the whims of the market rather than anything scientif
The stunning plunge continued. I'll keep posting the charts until the ABX stabilizes (or reaches zero).
Certain areas of the credit market are frozen, and until they thaw, the global stock markets are rediscovering their volatility. The U.S. Economy is addicted to credit just as it is addicted to foreign oil,... the equivalent of a temporary oil market
The woes of the US housing market are dragging on longer than expected, and may lead to over one million foreclosure notices this year for homeowners, Treasury Secretary Henry Paulson said.
Federal Reserve Chairman Bernanke said the housing slump will be a "significant drag'' on U.S. growth into next year. Credit markets have improved, he added, while a full recovery will take time "and we may well see some setbacks.**
Barring some kind of miracle, it's time to kiss Levitt and Sons goodbye. And as for Beazer, I don't care what anyone says about things being a "net positive". Beazer cannot survive with 68% cancellation rates. Who would want to orde
Foreclosure filings across the U.S. nearly doubled last month compared with September 2006, as financially strapped homeowners already behind on mortgage payments defaulted on their loans or came closer to losing their homes to foreclosure
UK housing prices fell in September for a second month, the first back-to-back drop since 2005, after higher interest rates and concerns about the economic outlook hurt confidence, the Royal Institution of Chartered Surveyors said.
Fillmore bought the place for $329,000 in July 2005; the peak of the boom. Since listing the house at $317,000 a few months ago, she has dropped the price to $289,000 and is hoping for her luck to change as she cannot afford to pay the mortgage on an
is in heaven. "This is not a buyer's market, this is a buyer's paradise," said Robert Neal as he waited for a foreclosure auction to start in Detroit. Neal wants family homes with a market value of up to $90,000 and will pay up to $
"The housing bubble has burst," said Peter Schiff, president of Euro Pacific Capital in Darien, Conn. "Prices are going to collapse, and sales are going to fall through the floor."
Thomas Roach of Sarasota, Fla., is actively campaigning against a bailout for people who bought more home than they could afford on a bet to make easy profits from rising real estate prices.
America’s monetary central planner "knew" that massive inflation was needed to "rescue" the economy from the above-mentioned dot.com and telecom implosions. Housing was specifically targeted by the Federal Reserve to serve as
"So far, prices have dropped only slighly. But it was enough to cause alarm around the world," he said. "Prices are going to fall much lower yet."
