NAR - "Commercial Real Estate Activity Continuing To Decline" (2-19-09)

"The Commercial Leading Indicator for Brokerage Activity¹ fell 6.0 percent to an index of 109.2 in the fourth quarter from a downwardly revised reading of 116.1 in the third quarter, and is 9.1 percent lower than an index of 120.1 in the fourth quarter of 2007. NAR’s track of the commercial leading indicator dates back to 1990"

NAHB - "Housing Affordability Surges At Year-End 2008" (2-19-09)

"The HOI indicated that 62.4 percent of all new and existing homes that were sold in the final quarter of 2008 were affordable to families earning the national median income of $61,500, up considerably from the 56.1 percent of homes that were affordable to such families in the previous quarter and the 46.6 percent of homes that were affordable to them at the end of 2007."

DQNews - "Bay Area home sales top last year again; median drops to $300K" (2-19-09)

"Bay Area home sales rose above a year ago for the fifth consecutive month in January. Home buying remained slow in pricier coastal markets but was robust in many inland areas where steep price declines have boosted affordability and, in some cases, driven sales of existing houses to record levels. The role of foreclosures in the housing market continued to grow, representing 54 percent of the Bay Area homes that resold last month, according to MDA DataQuick, a real estate information service."

The Sacramento Bee - "Budget plan goes to Schwarzenegger after Legislature's OK" (2-19-09)

"The California Legislature voted early today to approve a massive budget package of tax increases, spending cuts and borrowing to close a $40 billion deficit after granting major concessions to one holdout Republican senator."

DQNews - "Southland home sales rise on inland surge; median price falls again" (2-19-09)

"Foreclosures continued to play a leading role in the market, accounting for nearly 60 percent of all homes that resold, according to San Diego-based MDA DataQuick, a real estate information service. Sales of newly built homes were the lowest for a January in at least 21 years - partially a reflection of how difficult it is for builders to compete with discounted foreclosures in the inland growth areas."

Yahoo - "U.S. mortgage rates drop toward record low: Freddie" (2-19-09)

"Interest rates on standard U.S. 30-year mortgages dropped in the latest week to levels just shy of record lows as concerns of a deepening recession boosted the appeal of fixed-rate investments, Freddie Mac said on Thursday. The average fixed 30-year mortgage rate declined to 5.04 percent in the week ending Thursday, from 5.16 percent in the previous period, Freddie Mac said in a statement. That was close to the 4.96 percent reached in mid-January, which was the lowest rate since Freddie Mac began its survey in 1971."

Yahoo - "Mortgage Help: Do you qualify?" (2-19-09)

"Right now, if you're underwater on your mortgage, owing more than the home's market value, forget about qualifying for a refi. In fact, at least 20% equity in your home is now a must, unless you're using an FHA loan."

CNN - "Obama: Aid 9 million homeowners" (2-19-09)

"Obama, on the other hand, will make it easier for homeowners to afford their monthly payments either by refinancing the mortgages or having their loans modified. The president is vastly broadening the scope of the government rescue by focusing on homeowners who are still current in their payments but at risk of default. And he puts billions of federal funds into enticing servicers to modify the loans of those who've already stopped paying."

Bloomberg - "WL Homes Seeks Bankruptcy, Cites Market Collapse" (2-19-09)

"L Homes LLC, the 161-year-old homebuilder, filed for bankruptcy protection from creditors with plans to focus on luxury developments in Southern California. The company blamed its filing on the collapse of the real estate market, saying its sales last year had fallen by about half from 2007. The company listed assets of more than $1 billion and debt of $500 million to $1 billion in Chapter 11 documents filed today in U.S. Bankruptcy Court in Wilmington, Delaware."

Bloomberg - "Mortgage Plan Effect May Be Limited, Analysts Say" (2-19-09)

"The effect of the Obama administration’s housing plan on home-loan bonds and borrowers will be limited by restrictions on which mortgages are eligible, according to Bank of America Corp. analysts."