All Posts Tagged With: "Home Loans"
The Stock Market Sectors You Should Sell Out of Right Now
Why inflation is bad news for the high street. You’d expect the slump in the housing market to take its toll on the high street. And indeed it has.
Sharpest Drop in US House Prices in 17 Years
A US government home-price index has posted the sharpest decline in its 17-year history – and analysts say things won’t get better until at least 2009.
Home prices fell 3.1% in the first quarter compared with last year, according to The Office of Federal Housing Enterprise Oversight. This from AP:
Declines in the government index, which focuses on less expensive properties and includes fewer houses bought with risky home loans that have gone sour over the past year, show the depth of the housing market’s troubles.
Housing Crisis: 500 Foreclosures a Day in California
The number of foreclosures in California have sky-rocketed.
According a report in the LA Times, the number of foreclosures in the state in the first quarter this year is up a staggering 327% from year-ago levels — an average of 500 foreclosures a day.
Ominously, the paper quotes research from DataQuick warning that the widening foreclosure problem could “spread beyond the current categories of dicey mortgages, and into mainstream home loans.”
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