Voice of San Diego - "Foreclosure Wave Said to Hit Latinos Hard" (4-13-07)
"After unprecedented gains in homeownership, experts say Latinos and other minorities are now suffering disproportionately from the risky loans offered during the raging housing boom."
BRUCE NORRIS IS FEATURED IN THIS ARTICLE.
USA Today - "Rising foreclosures reshaping communities" (4-13-07)
"And as thousands of homeowners across the nation are learning, it's not only home values that are being affected by the foreclosure crisis. When foreclosures rise, as they have in Waters Edge and other middle-class areas amid the meltdown of the subprime mortgage market, they can unravel the social fabric and reshape neighborhoods."
CNN - "Subprime bailout? $120 billion" (4-13-07)
"More than 1 million borrowers may be at risk of defaulting on their mortgages. Assisting them all wouldn't come cheap."
Bloomberg - "Fed Says What It Means -- No Interest Rate Cut: John M. Berry " (4-13-07)
"The Federal Reserve has demonstrated over the past three weeks that even with the best of intentions, communicating the nuances of monetary policy decisions often isn't easy. It took the Fed three attempts after the March 20-21 Federal Open Market Committee meeting -- the FOMC statement issued the day of the meeting, congressional testimony by Fed Chairman Ben S. Bernanke on March 28 and release of the minutes on April 11 --before investors and traders finally understood that an interest rate cut isn't in the cards. "
Press Enterprise - "New-home builders try auctions, some online, as the market softens" (4-13-07)
" Inland builders in recent months have been cutting prices and throwing in extras such as free swimming pools to move their new houses in a slowing market. And recently, joining a national trend, some are finding success with public auctions, traditionally seen more as a way to sell artwork or rare antiques. Some of those builders are incorporating online elements into their auctions, giving Web shoppers a chance to bid in real time against the on-premises participants."
ABC News - "Real Estate Leaves One Investor High and Dry" (4-13-07)
"After Spending Big to Strike It Rich, Some Speculators Coming Up Broke as Market Cools."
Friday, April 13, 2007
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