"Everybody knows how severe and painful the global financial breakdown has been, with banks unwilling to lend even to other banks. But what about mortgages and real estate? Can you still get a home loan with less than 20 percent or 30 percent down? Or with a credit score below 720?
" (2008-10-18)
October 17, 2008
Surrounded by Ruins, Mortgage Market Remains Intact
Homebuilders scramble to downsize floorplans
"When the U.S. housing market hit the skids, homebuilders like KB Home that thrived by offering large homes and expensive amenities began to rethink their home designs with an eye toward making smaller, less costly homes." (2008-10-17)
Government may file subprime charges soon
"The top federal prosecutor in Los Angeles indicated Thursday that charges are coming soon from a sweeping investigation of banks and subprime lenders." (2008-10-17)
October 16, 2008
Some states help renters in foreclosed homes
"A few states recently passed or proposed laws to protect renters by requiring mortgage holders to provide sufficient notice for tenants living in foreclosed properties. Sheriffs in Illinois and Michigan also have stepped in to help." (2008-10-16)
California Realtors forecast lower home prices, rising sales in 2009
"The volume of home sales is expected to climb 12.5% next year, even as doubts linger about the nation's financial markets.
Home prices across the state will continue to drop next year, even as sales, spurred by the low prices on foreclosed properties, will keep rising in 2009, according to a California Assn. of Realtors forecast slated to be released today." (2008-10-15)
October 15, 2008
Coldwell Tries 10-Day Housing Sale
"A U.S. real estate brokerage firm asks its clients to cut their homes' listing price in the hopes of attracting buyers during a 10-day markdown sale.
" (2008-10-15)
October 14, 2008
Apple's New Laptops Still Too Expensive
"Senior Technology Correspondent Gary Krakow says Apple's new laptops may look cool, but the price cuts aren't deep enough. With even the cheapest unit priced at $999, this line can't compete with mini laptop powerhouses like Dell and Asus.
" (2008-10-14)
The credit crisis hits India but it may profit
"How India could benefit in the long termThe global financial crisis has hit Indian stockmarkets hard. By October 13th the country's benchmark indices had fallen some 50% from the record heights they scaled in early January 2008. India's second-largest lender, ICICI Bank, has suffered a sharp drop in its shares following rumours that it is over-exposed to toxic US and UK assets. Equity outflows from foreign institutional investors (FIIs) during 2008 so far are a net US$9.9bn, compared with net inflows of US$17.4bn in 2007.This painful erosion of investor wealth and confidence is not the only fall-out in India of the global panic. The rupee has been depreciating rapidly against the US dollar, owing to the global dollar liquidity shortage, heavy outflows from FIIs looking to transfer funds home, and purchases of dollars by Indian banks to fund their overseas operations. By early October the rupee had slumped to a six-year low, negating the recent fall in crude oil prices and keeping India's oil-import bill high. The continuing depreciation means that the Reserve Bank of India (RBI, the central bank) must keep up its heavy intervention in the foreign-exchange market to stop the rupee from falling too sharply. ..." (2008-10-14)
October 12, 2008
High-rise living for sale in historic San Jose
"When word got out late last year that Silicon Valley's highest high-end high-rise was being built in San Jose's downtown Historic District, more than 3,000 people signed up. Now, despite an economy in crisis and a prolonged housing slump, buyers are starting...
" (2008-10-12)
Mortgage last loan people pay, study finds
"Behind the mortgage crisis lurks some consumer behavior that, at first glance at least, seems puzzling. When faced with the possibility of falling behind on home loans, credit card payments or car loans, borrowers are more likely to choose to let their...
" (2008-10-12)
Another Losing Proposition for Homeowners
"It's happened again. Some of the same people who lost money last year to the Metro Dream Homes mortgage-payment scheme lost tens of thousands of dollars more to another debt-payment plan before it was shut down by the Maryland securities commissioner this month. The commissioner has ordered Edwar...
" (2008-10-12)
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