Tuesday, March 10, 2009

Inman News - "Surveys show doubts about stimulus" (3-10-09)

"Seven percent saw lower interest rates as the most crucial factor, while one in five said the biggest emphasis should be on getting banks to renegotiate the terms of financially troubled homeowners' mortgages."


Bloomberg - "Bank Stock Crash Surpasses Dot-Com Collapse: Chart of the Day" (3-10-09)

"
The collapse of U.S. financial stocks to an almost 17-year low last week surpassed the crash in technology shares after the dot-com bubble burst in 2000."

Bloomberg - "Bank of America, GE Sell $16.5 Billion of FDIC Debt" (3-10-09)

"
Bank of America Corp., the largest U.S. bank by assets, and General Electric Capital Corp. raised a combined $16.5 billion today selling bonds backed by the U.S. government as they seek to hold down borrowing costs."

Bloomberg - "Hovnanian Loss Widens as Buyers Wait for Lower Prices" (3-10-09)

"
Hovnanian Enterprises Inc., New Jersey’s largest homebuilder, reported its 10th consecutive quarterly loss as joblessness climbed and prospective buyers waited for prices to quit falling."

Bloomberg - "Bank of America, JPMorgan Face Mortgage Conflicts" (3-10-09)

"
Corp. and JPMorgan Chase & Co. will be tempted to provide relief to too many homeowners under the Obama administration’s mortgage-modification plan to aid their home-equity loan portfolios, Amherst Securities Group LP analysts said."

Bloomberg - "Broker Commissions Fell 18% Last Year, ForSaleByOwner.com Says" (3-10-09)

"Broker commissions on U.S. home sales dropped 18 percent last year as purchases of foreclosed properties and the recession slashed values, according to ForSaleByOwner.com."


Orange County Register - "6 of 10 buyers think homes overpriced" (3-10-09)

"Housing tracker HomeGain recently polled Realtors to see what their clients, buyers and sellers, were thinking — price the Realtors’ own outlook. Want to see the bargain mentality? 59% of shoppers thought owners’ listing prices were too high."


Orange County Register - "Citigroup finally reports some good news, but…" (3-10-09)

"In a letter sent to employees Monday, Citi Chief Executive Vikram Pandit said the bank had an operating profit of $8.3 billion before taxes and special items through February - its best performance since the third quarter of 2007."

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