Bloomberg - "CDO Losses May Be $52 Billion, Credit Suisse Says" (7-9-07)

"Investor losses on bonds backed by U.S. subprime mortgages may total $52 billion, according to Credit Suisse Group, the low end of estimates, as analysts begin to determine the fallout from rising delinquency rates and foreclosures. Subprime defaults are 'clearly a huge problem' for investors in collateralized debt obligations, Credit Suisse analysts led by Ivan Vatchkov in London wrote in a report. 'But we do not think that they are a systemic one.'"

Real Estate Journal - "Martha Stewart House Sells at 26% Price Cut" (7-9-07)

"Martha Stewart sold her Westport, Conn., estate for $6.7 million -- 26% below the asking price. The four-acre property, known as Turkey Hill, includes a 3,168-square-foot, three-bedroom farmhouse, built in the 19th century, a converted carriage house and a 'party barn' that Ms. Stewart used to entertain guests. The property also includes a pool and gardens. Records show that Ms. Stewart and her then-husband, Andy Stewart, bought the property in two parcels in the early 1970s for a combined $80,750."

Bloomberg - "U.S. Housing Sales to Tumble to Six-Year Low on Rates, Defaults" (7-9-07)

"U.S. home sales in 2007 will drop to the lowest level since the start of the five-year housing boom in 2001 as mortgage rates and foreclosures increase, according to a forecast by Freddie Mac. Sales of new and previously owned homes probably will total 6.28 million, according to the world's second-largest mortgage buyer. That would be the lowest since 6.20 million in 2001. Residential lending will drop to $2.75 trillion, the lowest since 2002, the McLean, Virginia-based company said in today's forecast."

Bloomberg - "Why Haven't Home Construction Jobs Disappeared" (7-9-07)

"Illegal immigrants may lie at the heart of one of the persistent puzzles of the U.S. labor market. Overall payroll jobs rose by 132,000 in June, while the gains in April and May were revised to show 75,000 more jobs than reported earlier, the Labor Department said. The increase in jobs for the second quarter totaled 444,000, up modestly from the first quarter's 427,000."

Orange County Register - "RealtyTrac hopes to facilitate sales" (7-9-07)

"James Saccacio expanded RealtyTrac of Irvine by shedding light on a dark corner of real estate. Now he'd like to take the company further by breaking more taboos. Saccacio is in the foreclosure business. Actually, RealtyTrac has become the best-known name in foreclosures. Its steady barrage of reports on foreclosure filings are picked up by media outlets nationwide."

Orange County Register - "Two Platinum Triangle project possibilities" (7-9-07)

"Anaheim Condo dwellers seeking urban lifestyles aren't the only ones heading to high rises sprouting up around Angel Stadium. Office workers, too, could join those settling in hundreds of feet above the ground in the Platinum Triangle. A city panel soon will consider two major projects in the Platinum Triangle that include new office buildings, which have been slow to enter the transforming region meant to serve both as a place to live and work. About 8,700 homes amid cafes and shops are planned."

Los Angeles Times - "RealtyTrac on the rise" (7-9-07)

"Good morning. Little news item: RealtyTrac, which has been criticized because its foreclosure statistics tally several foreclosure 'events' per home, is now keeping a new statistic that will eliminate double- and triple-counting of homes. Bigger news item: RealtyTrac is growing into the dominant source of information on foreclosure, and hopes to dominate foreclosure sales as well. From Mathew Padilla's interview with RealtyTrac CEO James Saccacio for the OC Register: 'RealtyTrac has become the best-known name in foreclosures. ... Saccacio has grown the company from about $575,000 a year in revenue to a projected $43 million this year.'"