NAHB - "Mortgage And Financial Markets Continue To Slow Housing Activity, Builders Testify" (3-12-09)

"The National Association of Home Builders (NAHB) told Congress that the housing sector is still being significantly affected by the upheaval in the financial and mortgage markets that started in 2007, and there is deep concern that these financial dislocations will increase the depth and length of the housing downturn."

Mortgage Bankers Association - "Credit Markets and Economy Add Pressure to Commercial Mortgage Performance" (3-12-09)

"The weakening economy and continued credit crunch contributed to increases in commercial/multifamily mortgage delinquencies during the fourth quarter of 2008, according to the Commercial/Multifamily Delinquency Report from the Mortgage Bankers Association (MBA)."

The Press Enterprise - "Riverside/San Bernardino counties ranked sixth nationwide in foreclosures" (3-12-09)

"Riverside/San Bernardino in February ranked sixth among the nation's metropolitan areas in rate of foreclosure activity, with one foreclosure related filing for every 80 homes. The two counties combined had 18,040 filings, up 63 percent from 11,066 filings in February, 2008."

Bloomberg - "Homeowners See U.S. Taxes Rise as Property Values Sink Amid Deficits" (3-12-09)

"Municipal finance officers budgeted for a 3.6 percent drop in revenue from residential taxes this fiscal year, a survey by the U.S. League of Cities in September shows. With home prices down 12.4 percent in the fourth quarter from a year earlier, the most ever for an index compiled by the National Association of Realtors, cities and counties are compensating with higher tax rates or appraisals, even where laws cap property-tax growth."

Bloomberg - "Foreclosure Filings in U.S. Jumped 30% in February" (3-12-09)

"Foreclosure filings in the U.S. climbed 30 percent in February from a year earlier as the worsening economy thwarted efforts by the government and lenders to prevent homeowners from losing property, RealtyTrac Inc. said. A total of 290,631 homes received a default or auction notice or were seized by the lender, the Irvine, California-based seller of default data said in a statement today. Properties that got a foreclosure filing for the first time totaled 161,976, the highest in RealtyTrac records dating to January 2005."

Bloomberg - "Mortgage Rates in U.S. Drop to 5.03%, Freddie Reports" (3-12-09)

"The rate dropped to 5.03 percent from 5.15 percent a week earlier, Freddie Mac, the McLean, Virginia-based mortgage buyer, said today. It dipped to 4.96 percent the week of Jan. 15, the lowest since Freddie began keeping track."

Bloomberg - "Freddie Dividends to Treasury May Bury Future Profits" (3-12-09)

"Freddie Mac, the U.S. mortgage- finance company seized by regulators six months ago, said it needs more financial help from the government and raised doubts about its ability to become profitable again. Freddie’s decision yesterday to tap an additional $31 billion in aid in return for preferred stock will raise its annual dividend payment to the Treasury to $4.6 billion, a figure the McLean, Virginia-based company said may be beyond its means."

Orange County Register - "Just 4% of O.C. office space seen as distressed" (3-12-09)

"13.4% of O.C. office space was empty in December. Yes, that’s roughly equal to 1-in-7 buildings. But 12 markets had higher vacancy rates among the top 50. (U.S. average? 11.8%)"

Orange County Register - "Biggest home-price gainers now biggest losers" (3-12-09)

"The hottest housing markets during the housing boom tended to be the biggest losers when the bubble burst, a new study of Southern California communities shows. Nine of Orange County’s top 10 losers were among the top 12 gainers during the run-up to price peaks, according to a Concord Group analysis of DataQuick housing figures"


Orange County Register - "Bank of America operates in the black" (3-12-09)

"The bank’s stock rose for a fourth straight day in New York Stock Exchange composite trading, advancing 71 cents, or 14 percent, to $5.64 at 3:05 p.m. Lewis said in today’s speech he expects revenue to top $100 billion this year."

Inman - "Coldwell Banker boosts M&A in '08" (3-12-09)

"Coldwell Banker, an international real estate franchise company that is a part of Realogy Corp., reported that 96 affiliates expanded through mergers and acquisitions activity in 2008"