St. Petersburg Times - "Frustrated buyers sue for refund on condo" (3-6-07)

"They bought into the idea of living in Trump Tower luxury. Now they just want their deposit back."

OC Register - "O.C. building permits down 70 percent in January" (3-6-07)

"The number of residential building permits issued in Orange County fell 70 percent in January from the year before, driven mainly by a sharp decline in new condo and apartment project filings, the California Building Industry Association reports."

News-Press - "Inventory enemy of our real estate market" (3-4-07)

"I had a friend come into my office the morning after I delivered my Market Watch speech and she said she wanted to see for herself the man that had a target on his back. This is the same day that the front page of The News-Press had my picture with the headline "Home sellers advised to get real on prices." Throughout history, the bearer of bad news never had to ask about retirement benefits. I'm glad times have changed. I'm happy with just the target on my back, because in times past the wearer of it actually had sharp things hurled at it."

Bloomberg - "Greenspan Sees One-Third Chance of Recession in 2007 (Update2)" (3-6-07)

"Former Federal Reserve Chairman Alan Greenspan said there's a 'one-third probability' of a U.S. recession this year and the current expansion won't have the staying power of its decade-long predecessor."

Bloomberg - "Goldman, Lehman Most Vulnerable to Credit Decline, Hintz Says" (3-6-07)

"Goldman Sachs Group Inc. and Lehman Brothers Holdings Inc. would be hardest-hit on Wall Street if the slump in subprime mortgages becomes a credit crisis like the one that followed Russia's debt default in 1998, Sanford C. Bernstein & Co. analyst Brad Hintz said."

Bloomberg - "As Housing Goes Bust, Lenders Become Predators?: Caroline Baum" (3-6-07)

"Congress is gearing up for hearings on predatory lending, the latest chapter in its long history of barn-door-closings on already-departed horses. Just some background in case anyone hasn't picked up a U.S. newspaper in the last month. The subprime lending market is in trouble as borrowers who are, by definition, poor credit risks live up to their reputation. "

Business Week - "The Bubble Guru's Take On Housing" (3-6-07)

"Yale's Robert Shiller thinks the market hasn't hit bottom, but he leaves room for the human factor "

Bloomberg - "GM May Take Almost $1 Billion Charge for Mortgages (Update5)" (3-6-07)

"General Motors Corp., the world's largest automaker, may take a charge of almost $1 billion to cover bad mortgage loans made by its former home-lending unit, according to a Lehman Brothers Holdings Inc. analyst. Residential Capital LLC relies on loans to people with poor or limited credit records or high debt burdens, for more than three-quarters, or $57 billion, of its loan portfolio, Lehman analyst Brian Johnson wrote in a research report. Delinquency rates on such subprime loans made last year are at a record high. "

Bloomberg - "Pending Home Sales in U.S. Declined 4.1% in January (Update2)" (3-6-07)

"Fewer Americans signed contracts to buy previously owned homes in January, an indication of lingering weakness in the housing market. An index of signed purchase agreements fell 4.1 percent, the National Association of Realtors said today in Washington. The index was 8.9 percent below the year-earlier level. "

NAR - "January Pending Homes Sales Down Due to Weather Fluctuations" (3-6-07)

"Pending home sales declined in January from a strong upturn in December due to unusual weather patterns, according to the National Association of Realtors®. The Pending Home Sales Index,* a leading indicator for the housing sector based on contracts signed in January, fell 4.1 percent to an index of 108.7 from an upwardly revised reading of 113.3 in December, and is 8.9 percent lower than January 2006. "

CNN - "Bernanke: Fannie, Freddie threaten economy" (3-6-07)

"Fed chief says investments held by Fannie Mae and Freddie Mac should be 'anchored' to their affordable housing mission."