NAR - "NAR Study Confirms: They Come To America – To Buy Homes" (7-30-07)

"Nearly one in five Realtors® has sold a home to an international client in the past year, according to new research by the National Association of Realtors®. The 2007 NAR Profile of International Home Buying Activity is the most comprehensive research that NAR has ever conducted to explore the characteristics of second-home purchases in the United States made by international clients. An international client is a foreign citizen living abroad who has legally entered the United States to purchase a home."

NAHB - "NAHB's Newly Updated Warranty Book Helps Builders And Remodelers Avoid Costly Mistakes" (7-30-07)

"The subject of builder and remodeler warranties is one of the most important issues affecting the construction industry today. Customers expect warranties, and building professionals depend on them to demonstrate their confidence in their work. In the National Association of Home Builders’ (NAHB) recent release Warranties for Builders and Remodelers, Second Edition, builders and remodelers will find expert advice on how to use warranties properly and avoid costly mistakes."

CNN - "Cash woes pound American Home Mortgage" (7-30-07)

"American Home Mortgage Investment Corp. shares sank on Monday after the home loan provider announced 'major' writedowns, delayed a dividend and said lenders were demanding it put up more cash. Shares of American Home were down 39 percent, falling in pre-market trading to $6.39 from Friday's close of $10.47. On Friday the shares hit their lowest level since April 2003. Trading on Monday was halted for news pending."

CNN - "Credit default swaps sharply wider" (7-30-07)

"The U.S. credit markets opened with an "extremely negative tone" on Monday, with credit default swaps sharply wider amid fears that fallout from subprime mortgage losses is spreading, according to Barclays. The main index of investment-grade credit default swaps was 20 basis points wider at 98 basis points, while the high-volatility index was also 20 basis points wider at 210."

azcentral.com - "U.S. mortgage foreclosures rise 30%, Ariz. up 74%" (7-30-07)

"U.S. foreclosures rose 58 percent in the first half of 2007 from a year earlier, led by California and Florida, as more homeowners fell behind on their monthly mortgage payments, RealtyTrac Inc. said. Arizona ranked No. 8 in the country, with 27,515 foreclosure fillings in the first six months of the year, according to RealtyTrac. That figure is a 74 percent increase on the previous six months and represents one foreclosure filing for every 92 Arizona households."

CNN - "Fund manager's fun sailing away" (7-30-07)

"A hedge fund manager whose fund ran into trouble from the sell-off in securities backed by subprime mortgages is having to put his huge yacht up for sale, seeking $23.5 million. John Devaney, the CEO of United Capital Markets, a fund that specializes in buying and selling bonds that are backed by the mortgage payments, particularly adjustable rate subprime mortgages, has put his 142-foot yacht 'Positive Carry' up for sale, according to a yacht broker's Web site."

Bloomberg - "Five Signs That Subprime Infection Is Worsening" (7-30-07)

"The collapse in subprime mortgages doesn't pose 'any threat to the overall economy,' U.S. Treasury Secretary Henry Paulson said last week. He would, wouldn't he? He's hardly going to advocate we all stock up on tinned food and bottled water in our basements. The tremors from the subprime debacle are vibrating throughout the interconnected web of modern global financial markets. Derivatives, corporate debt, loans and bank stocks are all getting trashed. Here are five reasons to expect the turmoil to worsen."

Bloomberg - "Corporate Bond Risk Surges by Record as Subprime Losses Spread" (7-30-07)

"The risk of owning corporate bonds surged by a record as losses on U.S. subprime mortgages at Germany's IKB Deutsche Industriebank AG triggered concerns of global market contagion. Contracts on 10 million euros ($13.8 million) of debt included in the iTraxx Crossover Series 7 Index of 50 European companies increased as much as 60,000 euros to 504,000 euros, according to JPMorgan Chase & Co. The CDX North American Investment-Grade Index rose $16,000 to $97,000, Deutsche Bank AG prices show."