Tag Archives: wsj

President Obama Today Blamed Wall Street Greed For Economic Collapse

Was Wall Street any less greedy ten years ago? Or 20 years ago? When politicians pass new welfare benefits, is that greedy? When politicians force banks to lend to politically connected minorities with lousy credit, is that greedy? Dennis Prager … Continue reading

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Consumers Expect Home Prices To Keep Falling

Expectations for home prices plunged in September to their lowest level in a year. That’s no surprise. Economic growth is weak. Unemployment is high. The stock market is gyrating in a frightening manner. The WSJ says: Consumer expectations for U.S. … Continue reading

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Hottest Housing Markets

CNBC. 8:15 a.m. An investor says he’s buying homes in Las Vegas, Phoenix, Texas. Places where rents are going up on single family homes while prices go down. High-end market is dragging down the entire housing economy, according to an … Continue reading

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UK Mortgage Approvals Near Record Low

From Reuters: LONDON (Reuters) – The number of mortgages approved for house purchase was the second weakest on record in April, a survey shows, suggesting no let-up in the property market downtrend. The British Bankers’ Association said approvals for home … Continue reading

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Morgan Stanley Sells Its Russian Mortgages

MOSCOW, May 26 (Reuters) – The Russian subsidiary of Morgan Stanley (MS.N: Quote, Profile, Research) said on Monday it plans to sell its mortgage lending unit. Morgan Stanley bought the City Mortgages bank in 2006 in a deal valued at … Continue reading

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The Mortgage ‘Crisis’

William M. Isaac writes in the WSJ: The meltdown in the subprime mortgage market has caused a great deal of turmoil in the financial markets and hardship for individual homeowners and financial institutions. If there is a banking crisis, I … Continue reading

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Senate Mortgage Bill

From the WSJ: WASHINGTON – Top Senate lawmakers reached an "agreement in principle" Thursday that would expand a government program to insure up to $300 billion in refinanced mortgages and overhaul supervision of Fannie Mae and Freddie Mac. The deal … Continue reading

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Angry At The Mortgage Bailout

From the WSJ: "It seems like America‘s renters may NEVER be able to afford a home," AngryRenter.com laments. The housing crisis has sparked broad financial and economic distress. On Thursday, key Senate Democrats and Republicans reached an agreement in principle … Continue reading

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Jose Canseco’s Encino Home Foreclosed

From the WSJ: Former baseball star Jose Canseco has drawn perhaps the most unusual walk of his colorful and infamous career: Faced with sinking property prices and heavy legal fines, he has abandoned a multimillion-dollar home in suburban Los Angeles … Continue reading

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Mortgage Defaults Rising

Here’s a comprehensive roundup of related mortgage news: Quotes of the Day “It’s tough to have a liquidity-driven meltdown when you’re being backed by government entities that have the ability to print money.” –

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