The San Diego Union-Tribune - "Foreclosure viewpoint: It'll get worse" (5-27-07)

"Economists from Wall Street to the Federal Reserve are scratching their heads trying to parse the future of housing in light of worsening default and foreclosure rates. But they might have saved themselves some trouble if they had consulted Robert Gertz, a 21-year-old senior at the University of California San Diego."

Denver Post - "Shelter in a storm" (5-27-07)

"Although Colorado's economy is improving overall, the housing market continues to suffer. While the state's employment grew 2.2 percent and the average 30-year fixed-rate mortgage remained virtually unchanged at 6.32 percent during the first quarter, new-home sales were down 39 percent over the same period last year, according to a report released Thursday by the Genesis Group."

Journal Sentinel Online - "Subprime lending abuse hurts poor families most" (5-27-07)

"Lost amidst the widespread debate over subprime lending abuse is the critical role of what economist Lester Thurow described many years ago as a 'surge in inequality.' That surge led to what BusinessWeek referred to as a two-tiered financial services market. Middle-income and wealthy households obtain prime loans along with savings and checking accounts from conventional banks. Working families increasingly get subprime loans and utilize the services of check cashers, payday lenders and other fringe bankers."

Orange County Register - "O.C. office and industrial projects" (5-27-07)

"Orange County currently has four million square feet of office space under construction and is building nearly 900,000 square feet of industrial space. In addition, developers plan to add about three million square feet of new retail space over the next three years, much of it in mixed-use high-rise buildings with retail downstairs and offices above."

Los Angeles Times - "Shoot -- it's for the Web" (5-27-07)

"A picture may be worth a mere 1,000 words in other circles, but in real estate, it enters the realm of deal or no deal. With an estimated 80% of home buyers starting their search on the Internet, photos are to home sales today what curb appeal used to be: the place where first impressions are made. According to a National Assn. of Realtors survey of the Web features that buyers found 'very useful,' 83% mentioned photos, 81% liked detailed property information and 60% named virtual tours."

Los Angeles Times - "A 'silent second' is deception, pure and simple" (5-27-07)

"The term "silent second" is used to describe self-serving or perhaps fraudulent schemes in which house sellers accept second mortgages as part of a sale transaction, without the full knowledge of the first mortgage lender. The "silence" refers to the absence of full disclosure to the first mortgage lender. The smaller of the frauds arises when the second mortgage replaces part or all of a down payment. For example, the buyer and seller agree on a price of $200,000; the buyer has a commitment for a first mortgage loan of $180,000 but doesn't have the $20,000 required for the down payment. To make the deal work, the seller agrees to accept a silent second mortgage for $15,000. As far as the first mortgage lender knows, the down payment is $20,000, but in fact, it is only $5,000."