Newsday - "As market slows, cracks appear in the local real estate sector" (9-29-06)

"As housing boomed, homeowners benefited - but they weren't alone. Real estate agents, furniture sellers, mortgage bankers, construction workers and a host of others reaped the rewards, too, as jobs were plentiful, wages rose and business grew."

Market Watch - "Lenders Gone Wild" (9-29-06)

"Can U.S. curb the 'exotic mortgages' frenzy that puts homeowners at risk?"

CNN - "New worry: A hard 'soft landing'" (9-30-06)

"Everyone agrees the economy is slowing but recent reports have some analysts concerned about recession."

Market Watch - "Decline seen for Aug. pending home sales" (9-29-06)

"Banc of America Securities said Friday it expects pending home sales to decline between 3% and 4% in August from the previous month after its monthly survey of real estate agents revealed disappointing traffic trends."

Bloomberg - "Think Housing's Stabilized? See Cancellations: Caroline Baum" (9-29-06)

"House prices will have to fall -- more than the 1.3 percent and 1.7 percent year-over-year decline in the median price of new and existing homes, respectively, in August -- in order to work off the current inventory glut. And builders will have to curtail residential construction until buyers chip away at the backlog."

CS Monitor - "Risky mortgages threaten a squeeze" (9-29-06)

"The overall impact is muted, but some 500,000 homeowners are projected to face foreclosure."

MSN - "Home auctions are going, going, gone online" (9-28-06)

"Buyers and sellers are moving more real estate on the Internet"

Mail Tribune - "Short-term investors run for cover" (9-29-06)

"Those who saw real estate as an alternative to the stock market find patience is a virtue"

Inman - "Regulators tighten guidelines for 'exotic' mortgages" (9-29-06)

"New rules clamp down on underwriting, disclosure requirements"

"Federal banking regulators today published new guidelines for banks to follow when originating and underwriting "nontraditional" or "exotic" mortgages that carry potential payment shock for borrowers."

"Many in the loan industry cite these mortgages as major contributors to the nation's home-ownership boom as they have enabled many borrowers to purchase in high-priced markets where traditional mortgages were out of reach."

"The new guidelines retain disclosure and underwriting provisions that some banks had objected to as too restrictive, including a requirement that lenders qualify borrowers at the fully indexed rate for interest-only and payment-option loans."

"As Inman News reported last week, the new guidelines will require lenders to analyze a borrower's ability to repay not only the initial loan amount, but also any additional principal that may accrue in the case of a payment-option loan with negative amortization."

LA Times - "UCLA Group Predicts Flat Home Prices" (9-28-06)

"The Anderson Forecast backs away from its dire projections last year but says things could worsen based on recent data."

LA Times - "Data Offer Mixed View of Economy" (9-28-06)

"Sales of new U.S. homes unexpectedly rose in August but sales in July were weaker than first thought, while new orders for durable goods fell, according to government reports Wednesday giving mixed indications about the economy's direction."

OC Register - "Housing dip isn't media's fault" (9-27-06)

"Too many people in the housing business think negative news about market conditions – both local and national – is scaring off potential buyers."

"Gary Watts, the Orange County industry's widely watched forecaster, cites news coverage as a major, depressing market force in his latest outlook."

Real Estate Journal - "Homeowners Expect Home Values To Rise Despite Cooling Market" (9-28-06)

"Although housing prices nationwide are falling, nearly half of all homeowners still expect the value of their homes to rise at least 5% a year, according to a recent survey of 1,003 Americans by RBC Capital Markets, a corporate banking and investment banking firm. Our homes are still our nest eggs: About 80% of homeowners surveyed estimated that they have at least $50,000 of equity in their homes, and 60% said they have at least $100,000. Surprisingly, many of those polled are immune to worries about interest-rate hikes, since they've already paid off their mortgages. But those who got risky variable-rate and interest-only mortgages are getting worried: Nearly four out of 10 such borrowers are concerned about how they'll meet higher payments."

CBIA - "Housing Production Drops in July, CBIA Reports" (9-28-06)

"Homebuilders Predict Market to Stabilize by End of Year, Cite Critical Need for Lower-Cost Homes and Condos"

"Although overall housing starts fell nearly 43 percent since June, residential construction is still on target for production of 180,000 units in 2006, the California Building Industry Association announced today."

Inman - "Rates fall sharply, borrowers fail to take advantage" (9-27-06)

"Home purchase index nears 3-year low"

"Despite a sharp decline in interest rates, overall mortgage applications were down 4.9 percent last week on a seasonally adjusted basis from the week before, the Mortgage Bankers Association reported today."

NAHB - "The Housing Downswing Will Not Drag The Economy Into Recession" (9-28-06)

"Looking a bit rougher than the soft landing housing analysts had been expecting, the current housing downswing is unlikely to lead to economic calamity. That is largely because interest rates are historically low, the overall economy still is moving ahead, and builders are stepping up efforts to get their unsold inventories under control, according to economists participating in a teleconference hosted yesterday by the National Association of Home Builders (NAHB)."

Bankrate.com - "5 tips: Selling a house in a buyer's market" (9-28-06)

"1. Play the cards you're dealt."
"2. Scope out other houses for sale."
"3. Make it a turnkey, not a turkey."
"4. Offer incentives."
"5. Price realistically."

Market Watch - "The aftermath of condo fever" (9-28-06)

"How to cope with a condo-investment hangover"

Bloomberg - "Homebuilders Offer Garages, Sod to Lure Buyers Amid U.S. Slump " (9-27-06)

" U.S. homebuilders including Pulte Homes Inc., Lennar Corp. and D.R. Horton Inc. are cutting prices and throwing in a lot more than the kitchen sink to stem a record build-up of unsold houses -- even as their profits and shares tumble. The median price of a new home this year may fall for the first time in 15 years as sales drop the most since 1990, says Doug Duncan, chief economist for the Mortgage Bankers Association in Washington."

Market Watch - "New home sales rise 4.1% to 1.05 million pace" (9-27-06)

"Median sales price down 1.3%, first yearly decline in three years"

"Sales of new homes unexpectedly increased 4.1% in August to a seasonally adjusted annual rate of 1.05 million from a three-year low in July, the Commerce Department reported Wednesday."