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Failed banks are lining up a christmas bonanza for their incompetent staff. The RBS has set aside billions of taxpayers money to pay bonusus. Other state owned banks will likely do the same.This really is as bad as it looks. These banks are, for all practical purposes, insolvent. The government has injected billions of pounds, and this money is about to disappear as cash payments to staff….
Original Source: ukhousebubble.blogspot.com
31 October, 2008| housingblogs |
Comments (0) @ 23:24
On Ads: Political ads may not (probably do not!) represent the views of CR or Tanta - but we are happy to take their money. Sorry for any inconvenience.
In this case, the court ruled for the plaintiff and awarded a multi-million dollar judgment. What makes this interesting is that in this court filing, the Plaintiff objects to the bond issued by CNA Surety’s subsidiary, Western Surety, on the…
Original Source: http://feeds.feedburner.com/CalculatedRisk
31 October, 2008| housingblogs |
Comments (0) @ 21:12
When your family outgrows your house - or you just can’t live without a master bath or family room anymore - your options are clear: trade up or add on. But these days, given the difficulty of finding qualified buyers and nabbing a decent price, adding on has gained a distinct edge. Plus, it usually costs less than moving, you remain close to neighborhood friends, and you get to keep using your favorite dry cleaner. If only you didn’t have to live through months of chaos and dust to get the job done. Well, you might not have to, thanks to a relatively new choice - buying your addition straight from a factory - which compresses the on-site construction process to as little as two weeks and can knock significant dollars off the job too. You’ve probably got questions. Here are the answers.
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Original Source: rss.cnn.com
31 October, 2008| housingblogs |
Comments (0) @ 21:00
On Ads: Political ads may not (probably not!) represent the views of CR or Tanta - but we are happy to take their money. Sorry for any inconvenience.
Just to put the 17 bank failures this year into perspective, here are insured bank failures by year since the FDIC was founded:
Click on graph for larger image in new window.
Of course the size of the failed banks, and the cost to the FDIC, also…
Original Source: http://feeds.feedburner.com/CalculatedRisk
31 October, 2008| housingblogs |
Comments (0) @ 18:33
Here’s the book, and a note from Schiff. Invest wisely HP’ers, think two years ahead, and try to stay afloat, even when the dollar crashes.Dear Investor,As many of you know, many of the dire predictions that I made earlier in the decade, which at the time were considered wildly pessimistic by the mainstream, have come to pass in spectacular fashion.In my first book, Crash Proof, written in 2006, I forecasted:…
Original Source: housingpanic.blogspot.com
31 October, 2008| housingblogs |
Comments (0) @ 17:05
And now, it’s time to overthrow the man.After the man f*cked America. Again.
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Original Source: housingpanic.blogspot.com
31 October, 2008| housingblogs |
Comments (0) @ 16:17
From the FDIC: Fifth Third Bank Acquires All the Deposits of Freedom Bank, Bradenton, Florida Freedom Bank, Bradenton, Florida, was closed today by the Commissioner of the Florida Office of Financial Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Fifth Third Bank, Grand…
Original Source: http://feeds.feedburner.com/CalculatedRisk
31 October, 2008| housingblogs |
Comments (0) @ 15:41
It’s Friday desk clearing time for this blogger. “For four years the Neal family called a two-family house in New Haven, home. The Neals have had their house on the market for a year and a half. They’re frustrated but patient. They understand this is a tough time to sell. ‘You’re seeing more and more houses that are in the inventory — I mean there’s tons and tons of inventory,’ Neal said. ‘Everywhere you look there’s a house for sale.’”
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Original Source: thehousingbubbleblog.com
31 October, 2008| housingblogs |
Comments (0) @ 14:25
1) David Lereah2) Lawrence Yun3) Mike Norman4) Blanche Evans5) Catherine Reagor6) Greg Swanndive7) Tom Adkins8) Connie De Groot9) Kendra Todd10) Nicholas Retsinas11) Hank Paulson12) Angelo Mozilo13) Bob Toll…
Original Source: housingpanic.blogspot.com
31 October, 2008| housingblogs |
Comments (0) @ 14:10
1) David Lereah2) Lawrence Yun3) Mike Norman4) Blanche Evans5) Catherine Reagor6) Greg Swanndive7) Tom Adkins8) Connie De Groot9) Kendra Todd10) Nicholas Retsinas11) Hank Paulson12) Angelo Mozilo13) Bob Toll…
Original Source: housingpanic.blogspot.com
31 October, 2008| housingblogs |
Comments (0) @ 14:10
Work with me on this one: A couple of readers, and a couple of colleagues at The Times, have asked me the same question: what other real estate and economic blogs do you read or recommend?
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Original Source: feeds.latimes.com
31 October, 2008| housingblogs |
Comments (0) @ 13:48
JP Morgan Chase unveiled a bold new foreclosure prevention program Friday.
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Original Source: rss.cnn.com
31 October, 2008| housingblogs |
Comments (0) @ 13:47
A guest post from Frank Shump. Frank is a veteran from the financial services industry, and currently authors a blog called Thefinancecastle.com, which documents his thoughts on money matters and his adventures in self employment.
Government assistance and intervention when it comes to housing and mortgages is always a thorny issue. First, it’s important to note that when the government does anything monetarily speaking, it’s paying for those activities with our tax dollars. As such, we tend to get sensitive when we think about where our tax dollars or going and whether we feel like that’s the correct allocation for money that could’ve gone to our pockets. In the case of housing and t…
Original Source: http://feeds.feedburner.com/typepad
31 October, 2008| housingblogs |
Comments (0) @ 13:42
Form the Telegraph: Pakistan to receive $9bn from IMF in fight against bankruptcy Pakistan is to receive a $9bn (£5.5bn) bail-out loan from the International Monetary Fund as the country has three weeks to stave off bankruptcy. … The IMF agreed in principle to a billion dollar economic stabilisation plan for Pakistan during a week-long meeting with Pakistani officials in Dubai … Pakistan…
Original Source: http://feeds.feedburner.com/CalculatedRisk
31 October, 2008| housingblogs |
Comments (0) @ 13:34
In order to bring an even more complete picture of the Seattle-area foreclosure situation, I spent some time with Snohomish and Pierce County records, and pulled data on the number of Notices of Trustee Sale going back to 2000 for each county.
Here are charts of King, Pierce, and Snohomish County foreclosures from January 2000 through September 2008, with uniform y-axis scales to provide easier comparison:
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Original Source: http://feeds.feedburner.com/SeattleBubble
31 October, 2008| housingblogs |
Comments (0) @ 13:30
Double Trouble — Otis Rush
Lay awake at night,Oh so low, just so troubled.Can’t get a job,Laid off and I’m having double trouble.
Financial markets have no mercy. They take no prisoners, except maybe those that are now imprisoned in their homes. The financial markets do not care what the prices mean to you or to anyone else for that matter. If falling house prices costs people money, ruins their credit, and forces them into bankruptcy, well, that is what can happen when people speculate in financial markets. There are likely many people losing sleep over their losses in real estate and the stock market while simultaneously worrying about their job. These are not carefree times.
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Original Source: http://feeds.feedburner.com/IrvineHousingBlog
31 October, 2008| housingblogs |
Comments (0) @ 12:30
Long Island home prices dipped again last month.
The median sales price of existing single-family homes in Nassau County was $450,000 in September, a drop of $44,000 from the month before, according to statistics from the New York State Association of Realtors.
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Original Source: spacedoutli.wordpress.com
31 October, 2008| housingblogs |
Comments (0) @ 12:28
A buyer and manager for clothing retailers for the last quarter century, Pat Kuriga thought it was high time to open her very own store, despite the wounded economy. And Thursday she did.
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Original Source: spacedoutli.wordpress.com
31 October, 2008| housingblogs |
Comments (0) @ 11:30
CNBC’s Diana Olick says let home prices fall and start over again:Let’s say you take all the people who claim to be in trouble on their mortgages. Take those mortgages away, lower the value of the house to the current market price, and calculate the monthly payment based on the current interest rate on the 30-year fixed (and I mean conforming, not jumbo) which is around 6.35 percent. Oh, and by the way the historical average on the 30-year fixed over the last 25 years happens to be 7.89 percent, so I’m offering a deal. How many of those folks could still afford the home? My guess is that some could, but many more could not….
Original Source: bubblemeter.blogspot.com
31 October, 2008| housingblogs |
Comments (0) @ 11:23
Read full story for latest details.
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Original Source: rss.cnn.com
31 October, 2008| housingblogs |
Comments (0) @ 11:22