May 5, 2008...9:16 pm
Housing has already crashed - how bad is it?
Real bad. Simply looking at collection of a single day’s Real Estate headlines leaves no room for doubt.
SOURCE: http://www.realestatedecline.com/
Friday, May 2, 3008
Month-to-month, it gets consistently worse,” said David Blitzer, chairman of the index committee at S&P, noting that February also marked the sixth straight month that all 20 cities experienced declines. “The slope is one direction. There is no sign of a bottom.”
http://ap.google.com/article/ALeqM5hL1BztOWFNmmcLQ6aOP-BAz9FlMgD90BOMBO1
NEW YORK (Reuters) - Warren Buffett, the world’s richest person, said on Monday the U.S. economy is in a recession that will be more severe than most people expect.
http://news.yahoo.com/s/nm/20080428/bs_nm/buffett_recession_dc?ref=patrick.net
Home Prices Fall in 22 US Cities as Foreclosures Reach Record!
Bloomberg
Now’s not the time to be flip about housing
Seattle Times, United States
FORECLOSURES MULTIPLY AND VIOLENCE ERUPTS IN HOMEOWNER ASSOCIATIONS
Last week in Pompano Beach, Florida, Patrick Dellisanti, 57, walked into the clubhouse of his homeowner association brandishing a gun and demanded to speak with an employee of the association over the $4,000 fees charged to the condo of his 80 year old mother. He took two employees hostage.
Bank of America May Not Guarantee Countrywide’s Debt
Bloomberg
With Much Blood-Letting to Come, the US Housing Finance System Needs Replacing
Money Morning
No recovery for new homes seen in 2008
Modesto Bee, CA
Average Homeowner Will Lose $85000 in Wealth This Year
HULIQ (press release), NC
Home prices sink at record clip; foreclosures keep mounting
The Associated Press
18.6 million houses empty because prices still too high (bloomberg.com)
A Manic Depression
HoweStreet.com, Canada
Housing bubble bursts, check. Huge financial institutions closing their doors, check. Well at least the worst is over, right? Wrong. …
Disappearing now: $6 trillion in housing wealth
Los Angeles Times, CA
“At this rate of price decline, the excesses of the housing bubble will have largely disappeared by the end of the year. At the same time, the price decline …
Does anyone see good things coming out of this?
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