New Home Sales Plunge
• Calculatedrisk.blogspot.comNew home sales in March were the lowest since 1991. Months of supply" is at 11 months; the highest level since 1981. Note that this doesn't include cancellations.
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New home sales in March were the lowest since 1991. Months of supply" is at 11 months; the highest level since 1981. Note that this doesn't include cancellations.
US bank failures could rise above 'historical norms' as a weakening economy puts pressure on badly underwritten loans, particularly in commercial real estate, says John Dugan, who oversees 1,700 national banks as comptroller of the currency,
Homeowners staggering under mounting mortgage debt and facing foreclosure could get cheaper, government-backed loans under Democrats' housing rescue plan.
Yale University economist Robert Shiller ...said there's a good chance housing prices will fall further than the 30% drop in the historic depression of the 1930s.
Yale University economist Robert Shiller ...said there's a good chance housing prices will fall further than the 30% drop in the historic depression of the 1930s.
U.S. drivers are doing something they haven’t done for nearly two decades — consume less gasoline.
domestic carriers will need to raise fares by 15 percent to 20 percent just to break even.
...reaching an average of more than 500 foreclosures per day -- DataQuick said in a report, warning that the widening foreclosure problem could "spread beyond the current categories of dicey mortgages, and into mainstream home loans."
Crude oil futures popped to a fresh record Tuesday as supply threats gathered and the dollar tumbled against the Euro.
Architect billings in the C&I space have been in free-fall since December – the three-month annualized rate was -77.4% as of February.
Risks are rising that Fannie Mae and Freddie Mac may need a taxpayer bailout that could cost far more than previous rescues.
Homeowners who have suffered a 20 percent or greater fall in house prices are about fourteen times more likely to default on a mortgage compared to homeowners who have enjoyed a 20 percent increase.
This is exactly what’s happening in Florida’s housing and financial markets. We are in the eye of the hurricane, and the back half will hit us twice as hard as the front.
Major retailers in New York, in areas of New England, and on the West Coast are limiting purchases of flour, rice, and cooking oil as demand outstrips supply. There are also reports that some consumers are hoarding grain stocks.
"We are all worth less and earning less than a year ago," says economist Mark Zandi of Moody's Economy.com. "That is why consumers are pulling back, and judging from the confidence numbers they are in a panic mode."
A heavier federal hand is reaching into American life as politicians in both parties demand an overhaul of government financial regulation and more protection for homeowners in the face of mortgage woes and a weakening economy.
Jean-Claude Juncker, the EU's 'Mr Euro', has given the clearest warning to date that the world authorities may take action to halt the collapse of the dollar and undercut commodity speculation by hedge funds.
Texas Congressman Ron Paul has slammed the Federal Reserve for printing money to manipulate interest rates and undermining the salaries of workers and savings of older people. Paper money from pure fiat central banking, backed by nothing other tha
Wall Street faces the growing risk of an equities bloodbath in coming months as the credit crunch spreads to the wider economy and earnings crumble, according to a pair of grim reports issued by Goldman Sachs and Wells Fargo. Goldman Sachs said th
Washington is happy to watch the dollar slide. "They are not going to worry unless there is a knock-on effect on US equity or bond prices. So far that hasn't happened. There are no signs that the dollar decline has turned disorderly," h
For those of you hoping that foreclosure crises has hit bottom, we've got some bad news. A new report released by the The Pew Charitable Trusts says that 1 in 33 homeowners is expected to be in foreclosure over the next two years, due primarily t
Trying to solve the financial industry's structural problems with more interest rate cuts would only worsen the situation by raising inflation, Dallas Federal Reserve Bank President Richard Fisher said. "I have maintained a strong reluctance
Homeownership has long been a vibrant part of achieving the American Dream. But these days owning a home is more like starring in a horror flick, perhaps called Nightmare on Main Street. The numbers are frightening. Home prices are falling nationwide
Nearly every food staple has seen a double-digit percentage increase over the past year, including a 38% hike for a dozen eggs, to $2.16, and a 19% jump, to $1.78, for a loaf of white bread, according to American Farm Bureau data.
It is now commonplace and politically correct to blame what is referred to as the excesses of capitalism for the economic problems we face, and especially for the Wall Street fraud that dominates the business news. Politicians are having a field da
Wall Street rallied after better-than-expected quarterly results from JPMorgan Chase and two other Dow Jones industrials raised investors' hopes that companies and the economy are indeed recovering from the protracted global credit crisis.
My problem with the [bail out] is that the Fed saved this patient because it's a wealthy one. Saving the biggest investment banks in America is welfare for the rich. Would the Fed do that for you or me if we screwed up our investment portfolio?
Further Federal Reserve interest rate cuts appeared more likely after government reports showed a modest rise in inflation and that the housing market remained mired in a deep slump.
Crude oil and gasoline rose to records after the Energy Department reported unexpected declines in U.S. crude inventories and refinery operating rates. Oil climbed to $115.21 a barrel in New York, the highest since futures began trading in 1983. Oil
With momentum building for some form of taxpayer-funded housing rescue, what better time to check in with one of the most ardent bailout opponents, Republican Rep. Ron Paul of Texas? Excerpts from an interview: