WASHINGTON (MarketWatch) — U.S. home prices were falling in every region of the country in September, according to a closely watched index of home prices released Tuesday. Home prices fell in September in all 20 major cities covered by the Case-Shiller price index, even in cities that had been holding …
IT has become fashionable of late to say that America’s subprime borrowers themselves deserve a good part of the blame for the current mortgage mess. They were either greedy (looking for easy money in a bubbly real estate market) or irresponsible (assuming a debt whose terms they did not understand). …
THE sub-prime mortgage crisis is poised to get much worse. Next year, interest rates are set to rise – or “reset” – on $US362 billion ($412 billion) worth of adjustable-rate sub-prime mortgages, according to data calculated by Bank of America Corp. » Sub-prime mess set to get worse – The …
THE chances of a global “growth recession,” where world growth dips to below 2 per cent, are about one in three next year, according to economists at Germany’s biggest bank Deutsche Bank. ”The bursting of the housing and credit bubble this year and the ensuing credit and banking crisis have …
WE are in the midst of the worst financial crisis since 1998. The American housing market is in its direst state – sales and prices are down, foreclosures and defaults are up – since they started keeping statistical records 50 years ago. The fear of a recession is so large …
» Pending home sales down 6.5% in August: report – Market Watch, 2nd October 2007.
» New-home sales plunge 8.3% to seven-year low – Market Watch, 27th September 2007.
The ABC’s Four Corners has just aired an hour report on the sub prime mortgage disaster. The transcript can be found here. It features an interview with Robert Shiller. You can watch the extended interviews and read other resources here : » Four Corners Mortgage Meltdown Extended Interviews & Further …
The U.S. housing market showed signs of major disruption in July, with a 12.2% monthly decline in contract signings on existing homes — the largest drop since the pending homes sales index started in 2001, the National Association of Realtors reported Wednesday. » July pending home sales index falls 12.2% …
Last year, there were 1.2 million foreclosure filings in the United States, up 42 percent from 2005, according to RealtyTrac, a firm that analyzes such data. At current rates so far this year, RealtyTrac expects foreclosure filings to hit two million in 2007, or roughly one per 62 American households …
Global economic growth will take a hit as a result of the US subprime mortgage crisis, says the chief executive of Deutsche Bank, Germany’s biggest bank. » Subprime crisis to ‘hit world economy’ – The Age, September 2007
The consumer confidence index fell to 105.0 in August from a revised 111.9 in July, which was a cyclical high, the private economic research group said. » Confidence falls sharply in August – Drop biggest since Sept. ’05 – Market Watch, August 28th 2007
Last night, the Case-Shiller index showed US house prices fell at a faster rate in the 2nd quarter. It marks the largest decline in house prices year on year in the 20 year history of the index. » Home prices fall record 3.2% nationally – Market Watch, 28th Aug 2007.
With fears of a credit crunch coming to haunt the economy, the Australian All Ords fell 311 points or 5.4% during trade yesterday, only to make a good recovery in the afternoon. With records for the biggest fall since Sept 11th broken several times in the past month, yesterdays fall …
THE Federal Reserve Chairman, Ben Bernanke, was wrong.So were the US Treasury Secretary, Henry Paulson, and the chief executive officer of Merrill Lynch & Co, Stanley O’Neal. The subprime mortgage industry’s problems were contained, they all said. It turns out that the turmoil was contagious. » All the experts were …
Subprime housing worries caused the ASX all ords to fall 2.85% yesterday or 174.5 points to 6127. » Sub-prime crisis may trigger global meltdown – The Australian, July 28th 2007 » US mortgage debris has not fully hit Australia – The Australian, July 28th 2007 » Subprime could create global …
Last night it was reported new home sales in the USA fell 6.6% to 834,000, the lowest record since 2002. Compared year on year to June 2006, sales are down 22.3%. The sales price of new homes is down 2.2% year on year compared with June 2006. Meanwhile Inventories of …
» US subprime mortgage crisis hits Aust funds – The ABC, Jul 26th 2007.
Sales of existing US homes are down 3.8% in June, the lowest rate in five years. Annually, sales of single family homes have fallen 30%, the sharpest decline in 28 years. » Existing-home sales fall to 5-year low – Market Watch, July 2007.
» Housing market hasn’t bottomed yet – Market Watch, 17th June 2007.
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