Foreclosures Up 48 Percent From Year Ago: RealtyTrac

By AMY MCALISTER
Published: June 13, 2008
Foreclosure filings continued their surge in May, jumping 48 percent from levels recorded one year earlier as the number of distressed borrowers continues to mushroom in key housing markets across the nation. RealtyTrac Inc. reported Friday morning that 261,255 properties were subject some sort of foreclosure activity — default notices, [...]

Financial Doom - Current Best Sellers

Go ahead and read those apocalyptic books on the economy if you like a good scare. But be sure you recognize fiction when you see it.
By Jim Jubak
If fairy tales express our deepest fears, then investors must be on the verge of a psychotic breakdown.
The current crop of financial gloom-and-doom books carry titles such [...]

AP Poll: Mortgage Payments Worry Many

Apr 14, 3:26 PM EDT

AP Poll: Mortgage Payments Worry Many
By ALAN FRAM
Associated Press Writer
WASHINGTON (AP) — One in seven mortgage holders worry they may soon fail to make their monthly payments and even more fret that their home’s value is shrinking, according to a poll showing widespread stress from the [...]

Economic Update - March 9,2008

Housing Foreclosures hit an all time high of 0.83% of all mortgages nationwide.

Over 5.8% of homeowners were behind in their mortgage payments, the largest number in more than two decades.

House prices lost a staggering 8.9% in 2007 - and they’re still dropping.

The supply of unsold houses rose to 4 million, or to over a [...]

By STEPHEN S. ROACH - from Hong Kong

March 5, 2008
Op-Ed Contributor
Double Bubble Trouble
By
STEPHEN S. ROACH
Hong Kong
AMID increasingly turbulent credit markets and ever-weaker reports on the economy, the Federal Reserve has been unusually swift and determined in its lowering of the overnight lending rate. The White House and Congress have moved quickly as well, approving rebates for families and tax breaks for businesses. [...]

Housing In Deepest Decline Since The Great Depression

Rapid Deterioration

Housing in deepest decline since the Great Depression, economist says

By Steve Kerch, MarketWatch
Last update: 4:48 p.m. EST March 4, 2008

CHICAGO (MarketWatch) — Housing is in its “deepest, most rapid downswing since the Great Depression,” the chief economist for the National Association of Home Builders said Tuesday, and the downward momentum on housing prices appears [...]

Foreclosures Hit All-Time High

Foreclosures hit all-time high
Over 900,000 borrowers are losing their homes, up 71% from a year ago, and a record number of home owners are behind on payments.

By Les Christie, CNNMoney.com staff writer
Last Updated: March 6, 2008: 2:25 PM EST

NEW YORK (CNNMoney.com) — More home owners than ever are losing the battle to make their [...]

The Empire of Debt

 
Money for nothing. Own a home for no money down. Do not pay for your appliances until 2012. This is the new American Dream, and for the last few years, millions have been giddily living it. Dead is the old version, the one historian James Truslow Adams introduced to the world as “that dream of [...]

2007 Mortgage Meltdown

Double-digit home price drops coming
 By Les Christie, CNNMoney.com staff writer - September 19 2007: 3:24 pm
NEW YORK (CNNMoney.com) — Over the next few years, more than three-quarters of the nation’s housing markets will suffer some decline in home prices. Many will experience double-digit hits in a forecast that has worsened considerably in recent months.
According to [...]

Cheap Credit Caused the Crunch

Consumers and Investors can measure the current economic problems by counting the number of times they hear the term “credit crunch.”
We are being told that it is very difficult to get a big mortgage, that deals are falling through, that innocent home buyers are in a sorry state.  A big bank has raised its rate [...]