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Foreclosed Houses Haunt Home Builders Wall Street Journal As the normally hot spring selling season begins, two houses in the Inland Empire region of Southern California sum up the big problem facing many of the nation's largest home builders. One of the houses, a four bedroom built in 2006 that...
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25 People to Blame for the Financial Crisis TIME Magazine Who’s at fault? The good intentions, bad managers and greed behind the financial meltdown is exposed by TIME Magazine. View the list. HUD Secretary, Congress Debate Foreclosure Plans Washington Post Against a backdrop of record-low new home...
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U.S. Home Prices Fall at Highest Annual Rate Last Quarter International herald Tribune A widely watched index showed Tuesday that U.S. home prices tumbled by the sharpest annual rate on record in the fourth quarter and in December. The Standard & Poor's/Case-Shiller U.S. National Home Price index...
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REOs Dominate Many Markets Inman News The foreclosure market “is the housing market” in 2009, analysts at Deutsche Bank say in a new report that's skeptical about the effectiveness of the recently passed $787 billion stimulus bill to revive housing markets. The report warns of the lurking...
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Battling to reverse the nation’s foreclosure fiasco, President Barack Obama today announced a $75 billion foreclosure prevention plan aimed at helping an estimated 9 million homeowners avoid foreclosure. “The plan I’m announcing focuses on rescuing families who have played by the rules...
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Congress Strikes $789 Billion Stimulus Deal Wall Street Journal February 12, 2009 Congress and the White House reached accord on a $789.5 billion economic-recovery package that would shower hundreds of billions of dollars in tax relief on individuals and businesses and spark an infrastructure building...
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After a somewhat unexpected spike in December, foreclosure activity dropped 10 percent in January -- although the January total of 274,399 was the fourth highest monthly total since January 2005 and still up 18 percent from January 2008, according to the latest RealtyTrac U.S. Foreclosure Market Report...
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You Won't Believe What's in That Stimulus Bill Wall Street Journal January 28, 2009 The 647-page, $825 billion House legislation is being sold as an economic “stimulus,” but now that Democrats have finally released the details you won’t believe what’s in that “stimulus”...
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When Foreclosures Outnumber New Homes Boston Globe January 16, 2009 The number of people losing their homes to foreclosure across the country is now outstripping the number of new homes being built. More than 860,000 homes were foreclosed on last year, according to RealtyTrac. All told, builders were...
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Foreclosure filings were reported on 2.3 million U.S. properties in 2008, an increase of 81 percent from 2007 and up 225 percent from 2006, according to the RealtyTrac U.S. Foreclosure Market Report released today. The steep annual increase came despite a quarterly decrease in the fourth quarter after...