Inman News - "Survey: Home values trump for-sale listings" (11-12-08)

"The study, based on interviews conducted from Oct. 10-12 by research company GfK Custom Research America, concluded that 61.5 percent of consumers visit online real estate Web sites to find home values. Meanwhile, 60.9 percent use the sites to locate for-sale homes and 53.3 percent use them to view price trends."

The San Diego Union Tribune - "Home values falling less sharply than prices" (11-12-08)

"The company found that values have fallen 17.9 percent in the past year in San Diego County, while the median price was off 27.2 percent over the same period, as measured by San Diego-based MDA DataQuick"

Yahoo - "Bailout Price Tag: $3.5T So Far, But 'Real' Cost May Be Much Higher" (11-12-08)

"While the government is clearly spending a lot of taxpayers' money to bail out financial firms, the tally is even bigger than most Americans (economists and pundits included) are probably aware or willing to admit. The bailout bonanza has gotten so big and happened so fast it's the true cost often gets lost in the discussion. Maybe Hank Paulson and Ben Bernanke prefer it that way because the tally so far is nearly $3.5 trillion, and that's before a likely handout for the auto industry."

Yahoo - "Dems seek auto aid as treasury shifts rescue focus" (11-12-08)

"Urgently shifting course, the Bush administration is abandoning the centerpiece of its massive $700 billion economic rescue plan and exploring new ways to shore up not only banks but credit-card, auto-loan and other huge nonbank businesses. Democrats are pressing hard to include a multibillion-dollar bailout for faltering automakers, too -- over administration objections. Unimpressed by any of the talk on Wednesday, Wall Street dove ever lower."

Bloomberg - "One-Third Who Sold Homes in Past Year Lost Money, Zillow Says" (11-12-08)

"One-third of U.S. homeowners who sold their property in the 12 months through September lost money as foreclosures depressed prices and more Americans became unemployed in a weakening economy, Zillow.com reported. Home values fell 9.7 percent in the third quarter, the seventh consecutive decline, to a median $202,966, Seattle-based Zillow, a seller of real estate data, said in a report today. One in seven homeowners had negative equity, or owed more on their mortgages than their houses were worth."

Bloomberg - "Morgan Stanley to Fire More Workers as Economy Slows" (11-12-08)

"Morgan Stanley said it plans to fire 10 percent of its institutional securities staff and 9 percent of the firm's asset-management group as the economy contracts and client demand wanes."

Mortgage Bankers Association - "Mortgage Applications Increase In Latest MBA Weekly Survey" (11-13-08)

"The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending November 7, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 425.0, an increase of 11.9 percent on a seasonally adjusted basis from 379.9 one week earlier. On an unadjusted basis, the Index increased 10.5 percent compared with the previous week and was down 40.0 percent compared with the same week one year earlier."

Mortgage Bankers Association - "Credit Crunch, Economic Concerns Drive Slower Commercial and Multifamily Lending" (11-13-08)

"Commercial and multifamily mortgage loan originations remained low in the third quarter, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. Third quarter originations were fifty-three percent lower than during the same period last year. The year-over-year decrease was seen across all property types and most investor groups."

CNN - "85,000 homes lost to foreclosure in October" (11-13-08)

"Last month 279,561 struggling borrowers received foreclosure filings, including default notices, notices of auction sales and bank repossessions, according to RealtyTrac, an online marketplace for foreclosures. That's a 5% increase from September, and up 25% from October 2007."

Bloomberg - "Paulson Credibility Takes Hit With Rescue-Plan Shift" (11-13-08)

"Henry Paulson became Treasury secretary 28 months ago, when he was at the top of the financial world: Wall Street's best-paid chief executive officer, capping his career with a high-profile sojourn in public service. Today, two months before he leaves office, some say Paulson is a reduced figure, damaged by the financial-market meltdown that happened on his watch and by the government's struggles to respond to it."

Bloomberg - "U.S. Homebuilders Fall to Lowest Since 2000 as Defaults Rise" (11-13-08)

"A Standard & Poor's measure of 15 builders declined as much as 6.7 percent to 163.62, the lowest since 2000, after first-time claims for unemployment insurance hit the highest since 2001 and RealtyTrac Inc. reported foreclosure filings rose 25 percent from a year earlier in October."

Bloomberg - "Downey, Community National Face Wrath of Regulators" (11-13-08)

"Downey Financial Corp. was told by U.S. regulators to raise capital by year-end or face seizure. GMAC Bank can't install an ATM on property controlled by its biggest owner without getting federal permission. Community National Bank was forced to fire its two top executives. They're among almost 50 lenders prodded to make changes as regulators try to contain the biggest wave of bank collapses since 1993. In some cases, failure to comply can trigger a government takeover, and some banks had deadlines as short as five days."

Orange County Register - "Bankruptcy sought for ocean-view homes in San Clemente" (11-13-08)

"Developers of the 308-home, ocean-view Marblehead Coastal project in San Clemente announced today that their partnership filed for Chapter 11 bankruptcy 'with the goal of obtaining new funding' for the master-planned community."