Archive for the 'mortgages' Category

Nothing down and low down payment mortgages inflate housing prices and increase the rate of foreclosure – Financial reform starts with increasing the down payment amount. How FHA insured loans infiltrated and filled the gap of exotic mortgage financing.


Don’t believe calls for a quick housing bottom – Foreclosures increase as system is still clogged. Those calling for a 2011 California housing bottom are premature. 51 percent increase in REO inventory for California in latest month of data.


Bank of America and their global banking profits – California negative equity will push many into foreclosure, examination of inflated California zip codes, banks more willing to push shadow inventory into the open.


Is California the new Japan? – 5 charts showing nonfarm payrolls at 1998 levels, underemployment of 23 percent, 685,000 homes at least 90 days delinquent, a massive zombie real estate sector, and a decreasing homeownership rate.


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