The Press Enterprise - "Some homeowners hit another dead-end in housing slump" (12-2-07)

"Unable or unwilling to sell their homes at declining prices, homeowners in Riverside and San Bernardino counties are converting them to rentals, glutting the market and causing rents to fall for the first time in years, according to Inland property managers."

Business Week - "Treasury plan won't help all borrowers" (12-2-07)

"If lenders temporarily freeze low introductory interest rates on home loans made to risky borrowers before they soar, it would be a modest fix for the country's fractured housing market. The problems are so far-reaching, analysts say, that an emerging Bush administration-backed plan -- nicknamed 'teaser-freezer' by one economist -- won't spare many borrowers, or bankers, from the pain of escalating foreclosures and defaults."

The Metropolitan Corporate Counsel - "The Subprime Mortgage Crisis: Everything You Wanted To Know And A Few Things You Didn't" (12-2-07)

"As I see it, the problem is the result of a number of unanticipated economic events all coming to a head at the same time. At the beginning of this decade, the government was encouraging lenders to develop mortgage products for borrowers who would not normally qualify for traditional loans, including borrowers without a good credit history or the ability to make a substantial down payment. As a consequence, lenders began to offer products that had adjustable interest rates, interest-only loans, and loans with prepayment penalties. Often the borrower was not required to provide documentation as to his financial condition or ability to repay. There were risks, but everyone seemed to recognize that this was the only way to get these otherwise unqualified borrowers loans so they could own homes."

Seeking Alpha - "New Home Sales Rebound! (Sales Drop 23.5%; Prices Fell 13%)" (12-2-07)

"September 2007 sales of new one-family houses were initially reported at 770,000, up 4.8% from the prior month's downward revision of 735,000. As we warned, that phantom 4.8% gain was likely to disappear when the revisions get reported: Surprise! September got revised down to 716,000 -- that swung the monthly numbers to a loss of 2.6%. Not very astonishing -- all you need to do is read the data and do the math."

Los Angeles Times - "Low fee? Let's deal" (12-2-07)

"The depressed state of the housing market has renewed debate over commission charges, with some people arguing they're too high and should come down while others make the case for raising rates. In this uncertain environment, sellers are starting to pay more attention to discount brokerages and those that offer flat-fee services."

Orange County Register - "No holiday for home sellers" (12-2-07)

"Traditionally, the holidays are when the housing market takes a break. Buyers traditionally take time off from home shopping as well, devoting more time to gift shopping instead. This year is no different, several local real estate agents said – except that many sellers have no choice but to keep their homes on the market.