The November median price was down 34.5 percent from a year ago and 43.6 percent below the peak price of $505,000 recorded during several months in 2007, the San Diego real-estate information service MDA DataQuick reported this past week.
"The economy is in much worse shape than we thought it was in," Biden told me during an exclusive interview -- his first since becoming vice president-elect-- to air this Sunday on "This Week with George Stephanopoulos."
"Every morning we open up these doors, people are there, lined up to the door," said Dollard, sweeping her hand at a snaking pile of used goods waiting to be appraised at the Once Upon A Child store in the Cincinnati suburbs.
California Governor Arnold Schwarzenegger may force all state workers to take two days of unpaid leave each month to conserve money ... The practice would begin in February and would last through June 2010 ...
On December 10 the Judiciary Committee of the Ohio House held a hearing on House Joint Resolution No. 8, “Applying to the Congress of the United States pursuant to Article V of the United States Constitution to call a constitutional convention
"Given more recent developments, it's clear that America now owes more than its citizens are worth," said Foundation President and CEO David M. Walker. "Passing this shocking milestone highlights the need for President-elect Obama
Standard & Poor's lowered the credit ratings and outlooks for 12 major U.S. and European banks Friday, including Goldman Sachs and Bank of America, citing increasing industry risk and a deepening economic slowdown.
The White House announced plans Friday to extend $13.4 billion in loans to troubled Detroit auto makers, with another $4 billion likely available in February, citing the need to avoid "disorderly liquidation" during an already troubled econ
Texas Congressman Ron Paul has hit out at US monetary policy, warning that fear based politics are being used to promote the bailout culture in the same way they were used to sell the Iraq war.
The non-Southern states, through Congress, the executive branch, and enlightened Southerners, need to use the power of the federal government to put a stop to the Southern race-to-the-bottom strategy once and for all.
"The president is not going to allow a disorderly collapse of the companies," White House press secretary Dana Perino said Thursday. "A disorderly collapse would be something very chaotic that is a shock to the system."
The time to act is now. Only a fool would sit on the sidelines, hoping to be saved by the same people who brought us to the edge of oblivion. Now what?
If widely accepted by home owners this will ruin the American consumer and make housing a dead asset class for decades. If you are in a serious negative equity position when signing these forms when most are, remember that you will:never be able to s
Now, in our "Top Trends of 2009," we forecast "The Collapse of '09," which in turn will spiral into the "Greatest Depression" the worst economic conditions America has ever experienced.
In the negotiations, the Treasury secretary is effectively taking on the role of “auto czar,” which was envisioned in the bill written by the White House and Congressional Democrats but blocked by Senate Republicans.
Chrysler's financing arm recently has warned dealers it may have to temporarily stop providing loans for dealers to stock vehicles on their lots because of a wave of withdrawals from a fund used to pay off those loans.
The president and CEO of the Michigan Credit Union League said the program's intent is both to send the message that auto loans remain available and to prop up sales at domestic manufacturers.
The task of the proposed "car czar" -- silliness on stilts -- would be to supervise the pruning of GM's nameplates and dealerships. The most qualified person for that ill-conceived position already has a more promising job, as Ford'
Peter Schiff talks about vanishing jobs. Peter discusses the morality of punishing good businesses to reward bad businesses. 12-6-08
Peter is a follower of the Austrian School of economics
The dollar yesterday staged one of its biggest one-day drops against the euro and fell to a 13-year low against the Japanese yen as near-zero interest rates and the Federal Reserve's plan to print vast sums of cash dilute the value of the greenba
Struggling U.S. automakers are launching a round of severe cutbacks as they wait for a government rescue, with Chrysler saying yesterday it will idle all 30 of its U.S. factories for a month.
Morgan Stanley reported a much wider-than-expected $2.2 billion quarterly loss on Wednesday on plummeting markets and poor trading moves, while banking and brokerage fees sank.
This means that the buyer does not make a true downpayment born of personal sacrifice, undermining its purpose. In the end, this is the same sort of "100% financed" lending that was a major contributor to the collapse.
The abundance of discounted foreclosures helped push the median sale price down a record 35 percent from a year ago, a real estate information service reported.
Back when the subject was still the War on Islamo-jerkoffs, I called this phenomenon "Women's Shoe Libertarianism"–fun to wear on a sunny day, but useless in a storm. Same goes for the Women's Shoe Capitalism of George W. Bush.
These charts will give you an idea of what is really going on in the U.S. economy.
Calpers in recent weeks said it expects to report paper losses of 103% on its residential investments in the fiscal year ended June 30. That's because Calpers invested not only its own money, but billions of dollars of borrowed money that must be
Live S&P Chart
Dow Jones Real Time Chart