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Americans who have lost their homes in the property crisis are starting to lose their possessions too as even the cost of storage proves too much for them. Auctioneers across the United States are conducting sales at self-storage facilities, se
The 50 U.S. states are holding more than $32 billion worth of unclaimed property that they're supposed to safeguard for their citizens. But a "Good Morning America" investigation found some states aggressively seize property that isn
By decree of co-Dictators for Life John McCain and Hillary Rodham, all social scientists formerly known as economists are hereby ordered to report to the tiger cages for re-education. That is all.
We will have approx 122,000 units slamming the CA auctions over the next 4 months. Of those, if the trend continues of 97.5% going back to the bank as REO, the banks will get back 119,000 homes to add to their shadow inventory.
Yes, foreclosure sales do set the market if there are enough of them. Guess what? There are more than enough of them and whole neighborhoods are being repriced by market forces. Sadly, assessors have not figured this out.
Mom-and-pop service stations are running into a problem as gasoline marches toward $4 a gallon: Thousands of old-fashioned pumps can't register more than $3.99 on their spinning mechanical dials. Replacing them is expensive.
Mom-and-pop service stations are running into a problem as gasoline marches toward $4 a gallon: Thousands of old-fashioned pumps can't register more than $3.99 on their spinning mechanical dials. Replacing them is expensive.
Bank REO sales are picking up in total BUT also as a percentage of total homes sold. That latter is the scary part. Bank-owned sales far below present market are essentially distress sales, not organic sales and are quickly becoming ‘the market’.
Don't mistake the U.S. dollar's recent rally for strength. If anything, it's a head fake of legendary proportions. In fact, the dollar's recent run-up is actually a warning that risks are escalating.
After several months of meeting with his top economic and military strategists, President George W. Bush gave what many consider his last important press conference, in which he formally declared war on the American Economy. As the president sta
Does the dollar remain in danger? Could "the rope slip" and the world's pivotal currency still go into freefall? That would plunge America beyond recession and into depression - as inflation ballooned amid soaring import costs, forcing
Federal regulators made the third closure this year of an FDIC-insured bank closing ANB Financial National Assoc. banks after discovering "unsafe and unsound" business practices. ANB Financial had about $2.1 billion in assets and $1.8 billi
This 825 square foot home was put on the market on July 27, 2007 with an asking price of $569,000, and today after reducing the price 48 times the home has not sold at the low price of $179,000.
While a new national survey says Arizona's economy is in a recession, a leading economist here says our problems go even deeper -- into a depression.
The U.S. House of Representatives passed legislation to let a federal agency insure up to $300 billion in mortgages to help homeowners avert foreclosure, a day after the White House threatened to veto the measure.
Rumors of oil at $200 a barrel already have the markets roiling. Wait until you see what happens to prices when the Persian Gulf is impassable.
He said the first quarter was the third worst on record, and second quarter "is certainly shaping up to be worse than that"
But their models suggest that six states—Arizona, Florida, Virginia, Maryland, California and New Jersey, could see further price declines of 25% or more.
In one year, the pool was 29.07% 60-day delinquent or worse. Of that, 13.87% is in foreclosure and 6.21% is bank owned real estate.
THE spirit of St Augustine hovered over the Federal Reserve this week. “Oh Lord, let us stop cutting interest rates, but not yet,” is pretty much what America’s central bankers decided on Wednesday April 30th. The Fed’s governors cut their policy rat
A new Goldman Sachs prediction that oil prices could rise to $150 to $200 within two years seemed to motivate much of Tuesday's buying, although a falling dollar and increasing concerns about declining crude production in Mexico and Russia contri
[It starts.] Vallejo, California's city council voted to go into bankruptcy, saying the city doesn't have enough money to pay its bills after talks with labor unions failed to win salary concessions from fire fighters and police.
With the economy in a hyperinflationary tailspin where economic activity slows at the same time the price of goods and services increase, one would think that government officials would get the idea that less regulation, not more, would be the order
On April 25, 2008, in Cumberland County, Pennsylvania, Mark Nolt, a Wenger Mennonite (Horse and Buggy Mennonite) dairyman, threatened for months with arrest for selling raw milk without a permit was removed from his property by state troopers. J
The Bush administration will be ready to accept requests for emergency student loans from state guaranty agencies under a program to stabilize the $85 billion student loan industry. With fallout from the subprime mortgage crisis threatening to trigge
A rising tide of late mortgage payments and home foreclosures poses considerable dangers to the national economy, Federal Reserve Chairman Ben Bernanke warned anew yesterday as he urged Congress to take additional steps to alleviate the proble
Friedman analyst Paul Miller, in a note to clients, said Countrywide's loan portfolio has deteriorated so rapidly that it currently has negative equity and the proposed takeover of the company will be a drag on Bank of America's earnings....
The Los Angeles 1990s bust took 86 months from peak to trough (about 7 years) using the Case-Shiller index. If the Composite 20 bust takes a similiar amount of time, the real price bottom will happen in early 2013 or so.
I made the case that structural demographics are poor and that boomers will be competing for low paying jobs with their kids and grandkids. With that in mind, exactly who are baby boomers going to sell their McMansions to?
