Bloomberg - "Subprime Panic Freezes $40 Billion of Canadian Commercial Paper " (9-25-07)

"The Canadian cash crunch that started with defaults on subprime mortgages in Southern California and Florida has hurt more than 25 companies that invested in commercial paper, including Sun-Times Media Group Inc. and Canada Post, the nation's mail service. Baffinland has 95 percent of its cash in Canadian commercial paper, debt that is due in 364 days or less. "

NAR - "August Existing-Home Sales Fall on Temporary Mortgage Problems" (9-25-07)

"Existing-home sales fell in August when mortgage availability problems were peaking, according to the National Association of Realtors®. Total existing-home sales – including single-family, townhomes, condominiums and co-ops – were down 4.3 percent to a seasonally adjusted annual rate1 of 5.50 million units in August from a level of 5.75 million in July, and are 12.8 percent below the 6.31 million-unit pace in August 2006. "

CAR - "C.A.R. reports sales decrease 27.8 percent in August, entry-level median home price falls 5. 1 percent" (9-25-07)

"Home sales decreased 27.8 percent in August in California compared with the same period a year ago, while the median price of an existing home increased 2 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today."

Yahoo - "Lennar post big loss on housing woes" (9-25-07)

"Builder Lennar Corp (NYSE:LEN - News), the No. 2 U.S. home builder, on Tuesday reported its worst-ever quarterly results as the crumbling housing market led to a much wider-than-expected loss, sending its shares to a five-year low."

MSN - "Lost your home? You may owe IRS" (9-25-07)

"If you thought a foreclosure ended the financial miseries associated with your former home, think again. You soon could be hearing from the IRS about taxes due in connection with the residence you no longer own."

Mortgage Bankers Association - "Edgar A.G. Bright, III, CMB Testifies on Mortgage Industry Response and Lessons Learned After Gulf Hurricanes" (9-25-07)

"The mortgage industry created a working group made up of lenders, servicers and their trade associations to help work on public and private sector problems and solutions. An industry practice was established that forbearance in the worst-impacted areas should continue and be re-visited every 90 days. This was a watershed event and it helped avoid mass foreclosures. "

CNN - "Lennar's loss bigger than expected" (9-25-07)

" In a further sign of trouble for the battered housing and homebuilding markets, Lennar posted a much bigger-than-expected loss Tuesday for its fiscal third quarter, saying it has already slashed staff and plans further cuts."

Bloomberg - "S&P/Case-Shiller Home Price Index Falls 3.9% in July" (9-25-07)

"Home prices in 20 U.S. metropolitan areas fell the most on record in July, indicating the threat to consumer spending was rising even before credit markets seized up in August, a private survey showed today."

Bloomberg - "U.S. Consumer Confidence Declines More Than Forecast" (9-25-07)

"Consumer confidence fell more than forecast in September to the lowest level in almost two years, as declining home values, a deteriorating labor market and tougher borrowing standards took a toll on Americans' spirits."

Los Angeles Times - "Sun-powered homes defy a cool housing market" (9-25-07)

"With foreclosures rising and home prices diving, there is a bright spot in California's residential real estate market: Solar-powered homes are starting to outsell traditionally electrified new homes in several markets, and developers are stepping up their use of the technology."

Real Estate Journal - "Auctions Gain TractionAs Housing Market Lags" (9-25-07)

"The excess inventory of condos is creating an ultimate buyer's market in areas of Florida. So this fall, Ben Anderson is taking a different tactic to finding buyers for some of these lonely units languishing on the market without many nibbles: He's organizing an auction."