Bloomberg - "Dollar Slide Drives Budget as Japan Shuns Treasuries" (4-28-08)

"The Japanese, who own $586.6 billion, or 12 percent of U.S. government debt, had their worst quarter in Treasuries this decade, losing 7 percent in the first three months of the year as the dollar fell to the lowest since 1995 versus the yen, Merrill Lynch & Co. indexes show. Dai-ichi Mutual Life Insurance Co., Meiji Yasuda Life Insurance Co. and Sumitomo Life Insurance Co., three of the nation's four-biggest insurers, would rather accept the world's lowest bond yields in Japan than buy U.S. debt."

Yahoo - "Vacant homes set new record high in first quarter" (4-28-08)

"The percentage of vacant homes for sale in the U.S. set a new record high in the first quarter of this year, the government said Monday. The Census Bureau report shows that 2.9 percent of U.S. homes -- excluding rental properties -- were vacant and up for sale, compared with 2.8 percent in the fourth quarter of 2007. It was the highest quarterly number in records going back to 1956."

Bloomberg - "KB Home's Broad Says Home Prices May Drop Another 20%" (4-28-08)

"Eli Broad, a philanthropist and co- founder of KB Home, the fifth-largest U.S. homebuilder by revenue, said he expects home prices to drop another 20 percent."

Bloomberg - "Maguire Chairman Proposes to Purchase 75% of Company" (4-28-08)

"Maguire offered $21 per share, or 23 percent more than the closing price of $17.07 on April 25, for 75 percent of the company. He is proposing the company sell most of its assets outside Orange County and pay investors a special dividend funded by the proceeds, Maguire Properties said in a statement today. Maguire fell 45 cents, or 2.6 percent, to $16.62 at 4:01 p.m. in New York Stock Exchange composite trading."

Bloomberg - "Zell Says Macklowe Will Get $6 Billion for New York Buildings" (4-28-08)

"Harry Macklowe should raise about $6 billion from the sale of seven New York office towers that he bought for $7 billion from Blackstone Group LP last year, according to Sam Zell, the real estate investor who sold the properties to Blackstone."

Realty Times - "Washington Report: Fannie and Freddie Under Fire From Groups" (4-28-08)

"Private mortgage insurers -- who work hand in hand with Fannie and Freddie by writing coverage on loans with downpayments less than 20 percent -- are enforcing even more extensive and restrictive lists of declining markets. Some industry estimates put the total number of Zip codes affected across the country at between 8,000 and 12,000."