NAHB - "Housing Affordability Nationwide Rises To Highest Level In Four Years " (11-17-08)

"According to the third-quarter HOI readings, 56.1 percent of all new and existing homes that were sold were affordable to families earning the national median income of $61,500, far more than the 40.4 percent of families who could afford homes at the peak of the housing boom."

Bloomberg - "Citigroup Chief Pandit to Reduce Headcount by 50,000" (11-17-08)

"Citigroup Inc., the U.S. bank with the most employees, plans to eliminate more than 50,000 jobs and cut expenses by 20 percent from their peak as the global economy contracts."

Market Watch - "Housing starts expected to hit half-century low" (11-16-08)

"Few observers have ever seen anything like the economic data that will be released in the coming week, with the consumer price index and housing starts each expected to breach records dating back to the late 1940s. With the global economy descending into a nasty recession, the October data could send a chill down the spine of policymakers, who are pulling out all the tricks in their tool kit to prevent a wider meltdown."

Yahoo - "How Much Home You Can Buy for $500,000" (11-17-08)

"Half a million dollars is, by almost any standard, a lot of money. But during the past few years, when credit was easy and regulations were loose, to many Americans it didn't seem like all that much. That's because they were able to borrow huge amounts of money to buy new homes, often with little or nothing down. And while most homes sold in the U.S., even at the height of the housing bubble, were $500,000 or less, rising prices in most major cities and affluent suburbs around the country pushed the cost of a three-bedroom home well into seven figures or more."

Bloomberg - "AIG, GMAC Help Drive Up Bank Rates Amid ’Insanity’ for Deposits" (11-17-08)

"American International Group Inc. and GMAC LLC are among money-losing companies whose banking units are paying higher rates than larger rivals to lure depositors, pressuring bank profits needed to offset rising loan losses. AIG, the insurer bailed out by the U.S. government, and GMAC, the biggest lender to General Motors Corp. car dealers, are offering yields of more than 4 percent for one-year certificates of deposit. Bank of America, the largest U.S. bank by deposits, is paying 2.75 percent, according to its Web site."

Bloomberg - "FDIC May Alter Guarantee Plan After Banks Complain" (11-17-08)

"The Federal Deposit Insurance Corp. may revise a $1.4 trillion debt-insurance program to address complaints that it would spur an exodus from the $250 billion market for overnight loans between banks."

Bloomberg - "ABCPMMMFLF Spells Fed Relief for JPMorgan, Citi Shadow Banking" (11-17-08)

"The U.S. Federal Reserve's emergency lending programs, intended to thaw commercial paper and money markets, are also helping banks limit losses from some of their $4 trillion in off-the-books guarantees and loan commitments."

Bloomberg - "Goldman Targeted by Investor Complaints of Naked Short-Selling" (11-17-08)

"Investors in the $591 billion high- yield, high-risk loan market are accusing Goldman Sachs Group Inc. of naked short selling to profit from record price declines. At least two fund managers complained verbally to officials of the Loan Syndications and Trading Association, saying they believe Goldman helped drive down prices by using the technique, according to people with knowledge of the objections. New York- based Goldman is acting against its clients by trying to profit at their expense, the investors said."