House Prices Drop US/UK Housing Crash? Subprime Bubble

Sky News: European Central Bank: Britain Welcome To Join Euro “As the pound struggles against other major currencies, the president of the European Central Bank has told Sky News that Britain is “welcome at any time” to join the euro.” You think its bad now, imagine an ECB affecting our liquidity because of decisions made in Germany.

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Original post by planning4acrash

From the DCJ:
Assistance is on the way for foreclosed properties in Eugene. The city of Eugene was notified by the U.S. Department of Housing and Urban Development that it will receive $618,519 to help local governments purchase foreclosed properties at a discount and, in some cases, rehabilitate them.The funds come from the housing department’s new Neighborhood Stabilization Program, which is part of the 2008 Housing and Economic Recovery Act.

The only question left is which three homes will get the help.

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Original post by noreply@blogger.com (Clint8200)

freerealtime: Banks reduce maximum mortgage financing: Union Bank will lend only up to 60% of a home’s value. Israel’s banks have tightened their mortgage policies in recent months. In addition to raising their mortgage interest rates, they have also reduced the maximum funding they will extend to borrowers, even safe borrowers. Some banks have also stopped working with Ezer Mortgage Insurance Company Ltd (EMI), and will not provide borrowers with financing amounting to 90-95 percent of a home’s value.

Original post by planning4acrash

mail Online: Darling threatens to FORCE banks to lend to firms and families Alistair Darling is so exasperated by the ‘moral failure’ of banks to help small firms and families that he is poised to toughen the law.
The Chancellor is studying legal options to end the ‘unacceptable’ behaviour of the banks towards companies struggling in the downturn.
The Government argues that when the taxpayer-funded recapitalisation scheme was agreed, the banks entered into an undertaking to restore lending to 2007 levels.
But Mr Darling also has a range of legal options open to him, including the creation of a ‘bank enforcer’ to supervise their lending behaviour, or the imposition of a cap on the interest charged for business loans.

Original post by sold out

Reuters: U.S. bank shares plummet * Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) shares fall as much as 25.5 percent to $4.77
* Bank of America Corp (BAC.N: Quote, Profile, Research, Stock Buzz) shares fall as much as 10.6 percent to $11.68
* JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) shares fall as much as 18.5 percent to $23.21
* S&P financials index .GSPF falls as much as 8.5 percent
* Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) shares fall as much as 11.1 percent to $49.00

Original post by planning4acrash

LA Times: Price of Southern California homes falls 41% from peak What IDIOTS borrowed that much money?! “With the median price of Southern California homes down more than 40% from its peak, the housing market has now slid further than most economists expected. The median sales price for homes in the region fell to $300,000 in October, a level not seen since 2003 and a 41% drop from the peak price set in the spring and summer of 2007, according to San Diego-based MDA DataQuick.”

Original post by planning4acrash

The Times: Mortgage debt forces thousands to sell up “A survey of estate agents suggests that at least 5,000 properties a week are being put up for sale by “forced downsizers” – people who are in financial difficulties.”……………..very sad

Original post by titaniccaptain

The Daily Mail: Exposed: The sinister secrets of Labour’s party list A list of members posted on a website shows it to be a declining rump of lecturers, school teachers, social workers, trade union officials and former councillors.
Many of them have never had a proper job in their lives and harbour dubious histories, in some cases descending into outright criminality.

Original post by gardeniadotnet

BBC via CNN & CBNC & Cspan: Congresswoman Waters Grills Treasury Sec Paulson congress congresswoman maxine waters economy bailout recovery fannie mae iraq bush gitmo habeas corpus

Original post by malct

marketoracle: Kirstie and Phil’s Location, Location, Location Returns as UK House Prices Crash Kirstie and Phil self professed property experts make a return to the UK’s TV screens with a more muted version of their long standing delusionally bullish UK property candy floss show titled location, location, location that helped feed the get on the property ladder frenzy of the last few years

Original post by frustrated gardener