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- Think the credit crunch is over? Ask a college student.
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The Massachusetts Educational Financing Authority is unable to grant loans to college students this year as it is unable to secure financing due to the condition of the capital markets. More than 40,000 college students will be locked out of financing for their college education due to the beating taken on Wall Street.
This is where it gets really unfortunate folks. Taxpayers bear the burden of a Fannie and Freddie bail out while the companies can still pay out dividends, bear the burden of a Bear Stearns bail out, bail out irresponsible policy and practice and then be shut out of opportunity. Can you imagine explaining to the parents of those kids that your child won’t get an opportunity at college because of the mortgage mess and their taxes will go towards bailing out those very same people who took away that opportunity?
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28 July, 2008| housingblogs |
Comments (0) @ 22:51
- Think the credit crunch is over? Ask a college student.
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The Massachusetts Educational Financing Authority is unable to grant loans to college students this year as it is unable to secure financing due to the condition of the capital markets. More than 40,000 college students will be locked out of financing for their college education due to the beating taken on Wall Street.
This is where it gets really unfortunate folks. Taxpayers bear the burden of a Fannie and Freddie bail out while the companies can still pay out dividends, bear the burden of a Bear Stearns bail out, bail out irresponsible policy and practice and then be shut out of opportunity. Can you imagine explaining to the parents of those kids that your child won’t get an opportunity at college because of the mortgage mess and their taxes will go towards bailing out those very same people who took away that opportunity?
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Original Source:
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28 July, 2008| housingblogs |
Comments (0) @ 22:51
- Price Reduced!!!!
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Word on the street says close in neighborhoods are seeing price concessions. They are …
Original Source:
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28 July, 2008| housingblogs |
Comments (0) @ 22:26
- The housing bail out
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From Slate, via The Big Picture. Pretty good, but I’d put the firemen in a big shadow of China…
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28 July, 2008| housingblogs |
Comments (0) @ 22:25
- Beaverton Hooters to Close
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From the Oregonian:Hooters of Beaverton will close Thursday because of stagnating sales, an executive of the company that owns it said Monday. The restaurant is one of two Hooters in Oregon owned by Hootwinc of Oceanside, California.”Sales over past year weren’t growing at the rate we hoped and expected,” said Art Tinajero, vice president of marketing for Hootwinc….
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28 July, 2008| housingblogs |
Comments (0) @ 22:23
- Romanticizing Greed: The New York Times and Indy Mac
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Interesting piece in the New York Times about the downfall of IndyMac Bank and the history that led to its demise. The title, The Downfall of a California Dreamer, paves the way for this look back; but unfortunately it’s romanticized version of events led by a chairman with a dream comes up much too short in it’s analysis of the greed and malfeasance that led to the bank’s demise.
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28 July, 2008| housingblogs |
Comments (0) @ 22:11
- Here’s Peter Schiff’s prescient 2006 speech to 1,000 soon-to-be-out-of-work mortgage brokers - telling them what was to come before it came
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Watch all eight parts. This, HP’ers, is a tour-de-force. This, HP’ers, is the most brilliant presentation you’ll ever watch on the Late Great Housing Ponzi Scheme.This presentation is important.And this presentation was so spot-on, from start to finish, you’ll be amazed. Blown away. And regretful if you didn’t listen back then, or today.P…
Original Source: housingpanic.blogspot.com
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28 July, 2008| housingblogs |
Comments (0) @ 21:20
- Here’s Peter Schiff’s prescient 2006 speech to 1,000 soon-to-be-out-of-work mortgage brokers - telling them what was to come before it came
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Watch all eight parts. This, HP’ers, is a tour-de-force. This, HP’ers, is the most brilliant presentation you’ll ever watch on the Late Great Housing Ponzi Scheme.This presentation is important.And this presentation was so spot-on, from start to finish, you’ll be amazed. Blown away. And regretful if you didn’t listen back then, or today.P…
Original Source: housingpanic.blogspot.com
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28 July, 2008| housingblogs |
Comments (0) @ 21:20
- [Culture Of Debt] Should We Keep Our Fannie Private? Or Go Shopping?
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I have been knocking around the concept of whether the GSEs should be become government agencies. It’s a strange predicament for the taxpayer, because of the implied guaranty that was bestowed on the GSEs by the federal government (strangely, to make President Johnson’s Vietnam War budget …
Original Source: matrix.millersamuel.com
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28 July, 2008| housingblogs |
Comments (0) @ 21:01
- [Culture Of Debt] Should We Keep Our Fannie Private? Or Go Shopping?
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I have been knocking around the concept of whether the GSEs should be become government agencies. It’s a strange predicament for the taxpayer, because of the implied guaranty that was bestowed on the GSEs by the federal government (strangely, to make President Johnson’s Vietnam War budget …
Original Source: matrix.millersamuel.com
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28 July, 2008| housingblogs |
Comments (0) @ 21:01
- WSJ: Mervyn’s "Close To Bankruptcy"
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From the WSJ: Mervyn’s Is Close To Bankruptcy Filing (hat tip sunlight) Lawyers for Mervyn’s LLC are telling creditors that the regional department-store chain will file for bankruptcy protection in the next few days, barring a last-minute cash infusion …
Mervyn’s, which operates 177 stores, mostly in California, has been struggling in the face of sharp sales declines this year in California…
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28 July, 2008| housingblogs |
Comments (0) @ 20:45
- WSJ: Mervyn’s "Close To Bankruptcy"
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From the WSJ: Mervyn’s Is Close To Bankruptcy Filing (hat tip sunlight) Lawyers for Mervyn’s LLC are telling creditors that the regional department-store chain will file for bankruptcy protection in the next few days, barring a last-minute cash infusion …
Mervyn’s, which operates 177 stores, mostly in California, has been struggling in the face of sharp sales declines this year in California…
Original Source:
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28 July, 2008| housingblogs |
Comments (0) @ 20:45
- Listing prices now down 159K from bubble peak
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Median listing prices in Los Angeles County slipped another $4,000 over the past week, falling to $420,000 — a decline of $159,000 since asking prices peaked in April of 2006, according to Housing Tracker’s weekly analysis of MLS listings.Inventory of houses and condos for sale continued to decline, and is now trailing year-ago levels by 1.4%.
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Original Source: feeds.latimes.com
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28 July, 2008| housingblogs |
Comments (0) @ 19:59
- HousingPANIC has this message for the FDIC and its incompetent head, Sheila Bair - PEOPLE OF AMERICA GET YOUR MONEY OUT OF WASHINGTON MUTUAL NOW!!!!!!
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Looks like Sheila and the FDIC are HP’ers.Hello Sheila!Sorry we caused that little ol’ IndyMac failure. Not the rampant and organized mortgage fraud. Not the lending to people with no jobs and no income. Not the criminal activity of Michael Perry and his gang of thieves….
Original Source: housingpanic.blogspot.com
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28 July, 2008| housingblogs |
Comments (0) @ 18:05
- HousingPANIC has this message for the FDIC and its incompetent head, Sheila Bair - PEOPLE OF AMERICA GET YOUR MONEY OUT OF WASHINGTON MUTUAL NOW!!!!!!
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Looks like Sheila and the FDIC are HP’ers.Hello Sheila!Sorry we caused that little ol’ IndyMac failure. Not the rampant and organized mortgage fraud. Not the lending to people with no jobs and no income. Not the criminal activity of Michael Perry and his gang of thieves….
Original Source: housingpanic.blogspot.com
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28 July, 2008| housingblogs |
Comments (0) @ 18:05
- Asking Prices and Inventory updated 2008-07-28
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DateCity/MetroStateInventoryMedianAsking Price
2008-07-28AlbuquerqueNew Mexico6950$249900
2008-07-28AtlantaGeorgia115714$217000
2008-07-28Austin…
Original Source: www.housingtracker.net
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28 July, 2008| housingblogs |
Comments (0) @ 17:22
- Big Brother is here.. Why the hell is the IRS going to get the credit card transactions of every American now, thanks to the housing bailout bill?
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Things that make you go hmmm… So, if you have an eBay business and don’t report your income to the IRS - those days are over If you say your income is $50,000 but you spend a lot on credit cards - you better watch it. …
Original Source: housingpanic.blogspot.com
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28 July, 2008| housingblogs |
Comments (0) @ 17:14
- Big Brother is here.. Why the hell is the IRS going to get the credit card transactions of every American now, thanks to the housing bailout bill?
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Things that make you go hmmm… So, if you have an eBay business and don’t report your income to the IRS - those days are over If you say your income is $50,000 but you spend a lot on credit cards - you better watch it. …
Original Source: housingpanic.blogspot.com
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28 July, 2008| housingblogs |
Comments (0) @ 17:14
- On the Merrill Stock Dilution Plan
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As part of Merrill’s major announcement today, Merrill is offering "new common shares with gross proceeds of approximately $8.5 billion."
When Merrill sold stock last December (at $48 per share), Merrill offered to compensate Temasek Holdings if Merrill sold additional stock, at a lower price, within one year.
From the Merrill announcement today: Merrill Lynch plans to raise $8.5 billion…
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28 July, 2008| housingblogs |
Comments (0) @ 16:33
- Here’s Peter Schiff’s brilliant, prescient and courageous 2006 speech to 1,000 soon-to-be-out-of-work mortgage brokers
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Watch all eight parts.This presentation was so spot-on, from start to finished, you’ll be amazed. Blown away. And regretful if you didn’t listen back then, or today.Part 2 is most interesting, where Schiff puts the blame where it lies - on the immoral and reckless fiscal policies of Greenspan and Bush, which created the most irresponsible debt-fueled consumption binge in human history….
Original Source: housingpanic.blogspot.com
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28 July, 2008| housingblogs |
Comments (0) @ 16:20