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- MarketWatch: Bank failures to surge in coming years
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Alistair Barr at MarketWatch provides an analysis of the coming surge in bank failures. Only three banks have failed so far in 2008. But that number is set to surge as the credit crunch slows economic growth and hammers some lenders that grew too fast during the recent real-estate boom, experts say. …
Original Source: feeds.feedburner.com/CalculatedRisk
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24 May, 2008| housingblogs |
Comments (0) @ 1:08
- City of Vallejo files for bankruptcy
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Is the California city an outlier or the canary in the coal mine? Vallejo, California filed for bankruptcy today as the first city put underwater by the foreclosure and housing crisis. With property values declining and folks lined up for reassesment of property taxes local governments who have lived like kings on bloated real estate tax revenues are going to see lots of red ink in the near future. Will Vallejo be the only or the first? I imagine that they’ll only be the first, with cities outside of 25 miles from the coast being the suspects to keep an eye on.
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Original Source: feeds.feedburner.com/typepad
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24 May, 2008| housingblogs |
Comments (0) @ 0:02