Los Angeles Times - "Who does the appraisal, and how much they're paid, matter" (9-11-08)

"When you apply for a mortgage to buy or refinance a house, should you be concerned that your appraiser is being paid much less -- maybe just half -- of the $300 to $600 you're charged on your settlement sheet? Should you know who pockets the rest or that cut-rate fees are too low to attract the most experienced, highly trained appraisers? Should you care that the appraiser might be pushed to come up with a number so fast -- almost overnight in some cases -- that he or she doesn't have the time to do a proper inspection and accurate evaluation of comparable properties, pending sales contracts and local market trends?"

Ashes Ashes All Fall Down - "He's No Longer Doctor Doom. Now He's Doctor Death." (9-11-08)

"When people take on increasing amounts of debt, they begin to feel hopeless. In fact, an increasing debt load with no way to pay it off is indicative of hopelessness. The overwhelming majority of folks who take on increasing amounts of debt know that they will not, in fact, win the lottery or have some other financial windfall which will allow them, at some point in the future, to get out of debt. And so with this reality bearing down on them, why do so many people nevertheless run up credit card debts into the tens if not hundreds of thousands of dollars? The most widely accepted argument is that people need to employ debt in their struggle to survive: Individual or familial deficit spending as a way to pay the bills and put food on the table."

Seeking Alpha - "Wealth Watch: Redefining Rich and Poor In a Shrinking Global Economy" (1-11-08)

"Many people fear the word depression, thinking back to how bad things were during the Great Depression. From 1929-1933, GDP fell about 1/3, and then it fell from mid-1937 to mid-1938 by another 18%. The worst GDP decline since then was a 6% cumulative loss in the 1974-75 recession. Given the current set of circumstances, it would seem to me that though things aren't likely to be as bad as the Great Depression, they will certainly be worse than the 1974-1975 recession by far. I expect GDP to decline by 10-15% ultimately. How it plays out will depend on many factors that are unknown, but one that could have the most meaningful impact is the actions of our government and those of other nations as well. We can't count on government to fix this problem, but we can hope that it helps minimize the imbalances without policy errors that lead to unintended consequences and potentially worse outcomes."

Orange County Register - "Realtor eyes no O.C. condo bottom in 2009" (1-10-08)

"2009 is going to be another good year for buyers; but not a hot year for condo sellers. Prices are continuing to decline and distressed condo inventory has grown to more than 50% of the active inventory. On the average most condo owners stay in their condos on an average of 3 to 5 years, so most would-be sellers will have purchased peak of market or pre-construction condos. Most of the condo owners that purchased a condo between 2004 and 2006 will look to sell within the next couple years, so supply will continue to outpace demand over the next couple years. High-rise condos will take a bigger beating than any other segment of the condo market because of cost of ownership and the difficulty to get a loan in these buildings, especially with the new loan guidelines. Many of the high-rise buyers are buying second homes may not be willing to plop down the 30% to 35% down payment requirements many lenders are requiring and are certainly being cautious about overpaying in any event."

Orange County Register - "Treasury yields seen rising, mortgage rates flat" (1-10-08)

"With congressional budget analysts predicting a $1.2 trillion deficit this year and a government stimulus package in the works, there is no doubt a huge supply of Treasuries is going to hit the market. If O’Donnell is correct and demand is flat, then bond yields should rise. Traditionally, rates on 30-year fixed-rate mortgages have loosely moved up or down in relation to 10-year Treasury yields"