House Prices Drop US/UK Housing Crash? Subprime Bubble

mortgagestrategy: Consumers set to benefit from development collapse, says Assetz Homebuyers and investors could benefit from the current market as developers try to sell off their housing stock, says Assetz. The company says that as lower interest rates take effect, coinciding with increasing pressure by banks on developers to sell existing stock and the cost of LIBOR continuing to fall, the cost of financing property purchases is set to dip even further in the run up to Christmas. It says that this, combined with banks putting pressure on struggling developers to reduce housing stock could meand discounts of 30 - 40% bringing about the lowest prices for new build housing ever in the UK.

House Price Bookmark
These icons link to social bookmarking sites where readers can share and discover new web pages.

Original post by jack c

mortgagestrategy: Beckett calls for house builders to keep building Housing minister Margaret Beckett is urging the house building sector to remain on task and continue building in the face of the economic downturn………………..

House Price Bookmark
These icons link to social bookmarking sites where readers can share and discover new web pages.

Original post by jack c

reuters: Prospect for auto bailout dims Congress has at most two days remaining in its post-election session. Without a deal in that time, any bailout is likely to have to wait until the new Obama administration takes over in January.

House Price Bookmark
These icons link to social bookmarking sites where readers can share and discover new web pages.

Original post by mark

reuters: Job cuts rise as global recession plays on “I’m still having conversations with people. But it doesn’t look good.”

House Price Bookmark
These icons link to social bookmarking sites where readers can share and discover new web pages.

Original post by mark

reuters: Recession to last more than a year The recession is likely to last more than a year as growth falls off a cliff despite the Bank of England continuing to hack away at interest rates as inflation comes down, according to a Reuters poll.

House Price Bookmark
These icons link to social bookmarking sites where readers can share and discover new web pages.

Original post by mark

Yahoo: Lowest UK Oil Price In Three Years London oil prices have slipped below $50 a barrel for the first time since May 2005.

House Price Bookmark
These icons link to social bookmarking sites where readers can share and discover new web pages.

Original post by mark

RealtyTrac released their October 2008 foreclosure data last week and Oregon ranks 16th in the nation for per household foreclosures.
There were 1,306 notice of defaults last month, up 68% from October 2007. The bank files a notice of default when a mortgage payment is late and attempts to reconcile the issue out of court have failed.If the homeowner doesn’t pay the default balance within 90 days then the bank records a notice of trustee sale with the county and schedules a trustee’s sale. There were 834 notices of trustee sales last month, up 260% from October 2007.
The best way to compare state foreclosure rates is with a penetration or per household rate. Here is a comparison of the regions states. A larger number indicates fewer foreclosures. Oregon is experiencing one foreclosure for every 558 households.

Here is a foreclosure map of the nation from RealtyTrac.

House Price Bookmark
These icons link to […]

Original post by noreply@blogger.com (Clint8200)

Indian Express: Indian BPOs bring Christmas jobs cheer to UK Christmas in 2008 could have been the gloomiest in UK in recent decades but for Indian companies, which are coming to the rescue of Britons, facing lay-offs in the face of a looming global recession.
This week, Indian call centre major Firstsource sparked early Christmas cheer in Northern Ireland by announcing plans to create 160 more jobs in the region.

Original post by little professor

Wall Street Journal: A Different Banking Crisis in Need of Fresh Capital “As the nation’s financial crisis spread earlier this fall, several thousand people pressed forward in a line to make a withdrawal from a bank in suburban San Diego. The line stretched out the building, up the street and past the fire station. They walked away with boxes filled not with money but vegetables, fruit, pasta and juice.”
Food Banks are running short here in the UK too. Christmas and cold weather coming as well ……………………..

Original post by renting2

MoneyWeek: Commercial property shares crash – but they’re not cheap yet It’s not just Britain’s houses that have fallen in price, the value of commercial property has slumped too. Property company shares have crashed 43% in the last year. And as the recession really starts to bite, they’re going to come down even further.

Original post by damien