Patrick.net - "San Francisco Chronicle Headline Lies About Housing Prices" (5-18-07)

"The San Francisco Chronicle today reported "Bay Area's housing prices buck national trend", but that is just not true. In fact, it's an outright lie. With a 3% decline in asking prices, Bay Area housing prices fell more than the national decline of about 2% over the last year. That is absolutely not "bucking" the trend downward. It makes you wonder just how much realtor advertising money it took to get the Chronicle to spin the headline that way. I think the Chronicle sold its integrity way too cheaply."

Orange County Register - "OC starter homes a little more affordable" (5-18-07)

"More Orange County residents could afford a starter home here during the first three months of 2007, a time when home prices fell to early 2006 levels while incomes rose slightly, the California Association of Realtors reported today. Statewide, the picture was just the opposite, with slightly fewer California residents able to afford a California starter home than a year earlier."

The Wall Street Journal - "Bernanke Plays Down Threat From Subprime Defaults" (5-18-07)

"Federal Reserve Chairman Ben Bernanke said Thursday that the financial system can withstand the fallout from the subprime-mortgage market "without serious problems." 'We have spent a bit of time evaluating the financial implications of the subprime issues, tried to assess the magnitude of losses, and tried to determine how concentrated they are,' Mr. Bernanke said in response to a question following a speech here. 'There is a sense that, although there is always a possibility for some kind of disruption ..., the financial system will absorb the losses from the subprime mortgage problems without serious problems.'"