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If ever there was an obvious headline, the one above is it. The housing industry is in trouble, and it doesn’t look like there’s going to be a fix any time soon. So what’s going on? We’ll start with the news that existing home sales are at their lowest level in 15 years, down 27% [...]
Talk about an interesting dilemma. Everyone knows about the California housing industry, which of course also ties in with unemployment and the rest of the problems California is having with their finances. A big part of the housing industry’s problem is the high foreclosure rates that are still occurring, even as a portion of their [...]
Very little surprises me anymore when it comes to seeing that minorities suffer the most on many financial levels. First it was hearing that blacks and Latinos are taking the worst hit on unemployment than anybody else. Then it was hearing that black farmers still haven’t gotten money from the government that the Justice Department [...]
In what has to be a move to help them stave off some state attorneys general, as well as boost up some good publicity for a change, Bank of America is forgiving around $3 billion in debt owed them via bad home loans and people who are going through foreclosures. The amount comes to 30% [...]
The Federal Reserve today decided not to increase interest rates, saying they’re trying to help ease unemployment and stimulate the economy, which has stagnated. However, they seem to be upbeat that unemployment didn’t get worse, which I guess is a mixed blessing at best. That standards for how “well” the economy is going are so [...]
CNN Money came out with a list of their top 10 predicted foreclosure hot spots for 2010. Let’s take a quick look at the cities: Boise, ID Provo, UT Portland, OR Green Bay, WI Birmingham, AL Myrtle Beach, SC Honolulu, HI Roanoke, VA Sioux Falls, SD Gulfport – Buloxi, MS The strange and scary thing [...]
It seems 2009 was more memorable than anyone hoped it would be as it pertains to the housing market. A record number of foreclosure notices went out in 2009, and more are expected in 2010 to break 2009′s record; how scary is that? There were around 2.8 million foreclosure notices that went out in 2009. [...]
