NAHB - "Bush Plan To Ease Foreclosures Supported By Home Builders" (12-6-07)

"A plan put forth today by President Bush to limit foreclosures by working with key mortgage lenders and investment firms to freeze interest rates for five years on certain subprime mortgages is supported by the National Association of Home Builders (NAHB)."

Mortgage Bankers Association - "'Streamlined Loan Modification Process Will Help At Risk Homeowners'" (12-6-07)

"Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association (MBA) today applauded an agreement by mortgage loan servicers and investors to streamline the process for modifying the loans of certain homeowners with subprime hybrid adjustable rate mortgages. The agreement was announced today by President Bush, Treasury Secretary Paulson and HUD Secretary Jackson, along with representatives for the loan servicing and investment community."

Mortgage Bankers Association - "Delinquencies and Foreclosures Increase in Latest MBA National Delinquency Survey" (12-6-07)

"The delinquency rate for mortgage loans on one-to-four-unit residential properties stood at 5.59 percent of all loans outstanding in the third quarter of 2007 on a seasonally adjusted (SA) basis, up 47 basis points from the second quarter of 2007, and up 92 basis points from one year ago, according to MBA’s National Delinquency Survey."

Seeking Alpha - "ARM Bailout Unfair to Responsible Borrowers" (12-6-07)

"If we are going to freeze subprime interest rates at their original rate for the next 5 years, I pose the following question: We bought our house one year ago with a 30 year fixed mortgage. Why? We thought rates were going up and the ARM's that were being offered were 3 year ARM's at about a point lower than ours ended up being. Had we gone with the 3 year ARM at the time, we would have saved just under $200 a month."

HomeGuide123 - "New Poll Gauges Public's Opinion of Subprime Rescue Packages" (12-6-07)

"The majority of those surveyed were opposed to a taxpayer-funded bailout of the subprime mortgage market, but there were a surprising number of respondents who either support it or have no opinion."

Charles Hugh Smith - "Exhaustion, Jobs and Housing" (12-6-07)

"The human spirit has limits of endurance, and five years will be plenty long enough to find out just how few people will still believe the 'market is turning up' after five years of declines and false hopes dashed/betrayed. There is nothing new about the current real estate bubble deflation except its size; which brings us to the second type of exhaustion: the physical kind. Back in the early 90s (yes, during the last housing deflation period 1990-1997), there were stories of distant exurbs outside Los Angeles slowly being abandoned by newly-minted homeowners who could no longer maintain the grinding 3-4 hour commutes and the destruction of their family life."

Yahoo - "Home prices may see 3-year fall: M. Stanley" (12-6-07)

"There is a 'substantial' risk that U.S. home prices will slide for the next three years or more, in a downturn that could be unlike anything seen before on a national level, Morgan Stanley said on Thursday in a report. Price levels of the RPX Index, a derivative index based on home prices in 25 U.S. metropolitan residential property markets, indicate an expectation that prices will decline for the next three years, with a recovery likely to occur between three and four years from now, Morgan Stanley said."

Real Estate Journal - "Home Listings Decline In 18 Metro Areas" (12-6-07)

"Total listings of homes in the 18 metro areas at the end of November were down 2.5% from a month earlier, according to figures compiled by ZipRealty Inc., a real-estate brokerage firm in Emeryville, Calif. The data cover all listings of single-family homes, condos and town houses on multiple-listing services in those areas, where Zip operates."