Still Depressed, After All These Years
Still Depressed, After All These Years
Editorial, The New York Times, June 23, 2012
With Europe suffering under self-destructive austerity and the United States facing its own prospect of punishing budget cuts, it is easy to forget that the housing bust has been the biggest drag on the economy over the past five years. Even with recent housing market improvements, sales and construction are still at very low levels, while prices are still falling in most areas.
Foreclosure Bailout 2.0
By Octavio Nuiry, Staff Writer, June 22, 2012
Isn’t America great? First, the feds bailed out the too-big-to-fail financial institutions on Wall Street. Today, Uncle Sam announced they’re bailing out the too-helpless-to-know-better borrowers on Main Street.
REO Spillover
By Daren Blomquist, RealtyTrac Vice President, June 21, 2012
New bank repossessions nationwide in May 2012 were down 18 percent from May 2011, the 19th consecutive month with a year-over-year decrease. But the story was much different in some markets.