NAHB - "President Bush Signs Landmark Housing Bill Into Law" (7-30-08)

"Landmark housing legislation signed into law today by President Bush is aimed at ending the current cyclical downturn in the housing industry, helping home buyers and strapped borrowers and strengthening the housing finance system, according to the National Association of Home Builders (NAHB)."

Mortgage Bankers Association - "Mortgage Applications Decrease In Latest MBA Weekly Survey" (7-30-08)

"The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 25, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 420.8, a decrease of 14.1 percent on a seasonally adjusted basis from 489.6 one week earlier. On an unadjusted basis, the Index decreased 13.7 percent compared with the previous week and was down 30.3 percent compared with the same week one year earlier."

North County Times - "HOUSING: Price decline reaches new record" (7-30-08)

"San Diego County house prices fell by the largest margin yet, tumbling 23 percent from a year ago, according to a report released Tuesday. Though annual declines reached a new peak, the rate of depreciation slowed significantly, reported the Standard & Poor's Case-Shiller Home Price Index."

Yahoo - "The Hidden Tax Traps in the Housing-Rescue Bill" (7-30-08)

"from a tax perspective, the bill is likely to cause more upset than calm. Here is a look at five areas where tax law was changed along with housing law, and the good news and bad news that goes along with each"

Yahoo - "The Private Mortgage Industry's Role in the Current Crisis" (7-30-08)

"Lenders and investment bankers drastically relaxed their underwriting standards in response to the euphoria associated with rapidly rising home prices during 2000-2006. They approved loans that could not possibly be repaid without an indefinite continuation of house price inflation."

Yahoo - "Fed takes steps to break through credit clogs" (7-30-08)

"Focused on getting the nation's credit gears smoothly working again, the Federal Reserve is letting Wall Street firms draw emergency loans into next year and giving financial companies more options to help them overcome credit problems."

Bloomberg - "LandAmerica Plunges After Loss, Slashing Dividend" (7-30-08)

"The loss was $3.29 per share, four times worse than the average estimate of three analysts surveyed by Bloomberg. That compared with profit of $7.9 million, or 42 cents a share, a year earlier, the Richmond, Virginia-based insurer said late yesterday."

Bloomberg - "CB Richard, Jones Lang Fall as Tight Credit Cuts Net" (7-30-08)

"CB Richard Ellis Group Inc. and Jones Lang LaSalle Inc., the world's largest commercial real-estate brokers, plunged after announcing lower profits they blamed on tight credit reducing property sales and leasing."

Bloomberg - "General Growth's 2nd-Quarter Net Rises on Store Rents" (7-30-08)

"General Growth Properties Inc., the second-largest U.S. owner of shopping malls, said second-quarter earnings increased as the company raised store rents. "

Bloomberg - "Centex May Cut Dividend as Housing Slump Continues" (7-30-08)

"Centex Corp. may cut its dividend to conserve cash as the U.S. housing slump continues, Chief Executive Officer Tim Eller said after the country's fourth-largest homebuilder posted its fifth straight quarterly loss."

Orange County Register - "O.C. upper-end sellers cut prices back to January level" (7-30-08)

"HousingTracker’s final July numbers show upper-end O.C. sellers pulling back pricing to where they were at the year’s start. The upper half, measured as the 75th percentile or the median of the top half, dropped pricing for the second consecutive month to $799,000 – just a few dollars away from January’s recent low. (That’s red line on graph. Click on it for bigger version!) Pricing in this half had risen four straight months to $844,725 before reversing. From this month to July ‘07, sellers in the upper half have dropped prices 11.1%."