A report from the Arizona Republic. "When the housing market crashed, inflated appraisals were a factor, especially in connection to mortgage-fraud schemes that artificially inflated home prices and made the fall in values all that much steeper. Julie Friess has been a Sedona appraiser for 22 years...
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As the Solstice draws nigh and the winds grow bitter, I recall a conversation I had last year with my dear friend, Mrs. Miller. An ex-Carmelite nun now well into her 70’s, this remarkable woman has done everything from a stint as Bob Hope’s social secretary to founding what became an uber-exclusive...
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The HBB looks at the media and the housing bubble, in the mid-west. The good: The Kansas City Star, May 2005: "The benefits to U.S. exporters from a modest rise in the Chinese currency would most likely be small, while the effect of higher interest rates could be larger." "If that were to happen,...
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It's Friday desk clearing time for this blogger. "U.S. homeowners have lost about $5.9 trillion in value since the housing market’s peak in March 2006, according to Zillow. LaVonna Gottschall paid $260,000 for her Merced, California, home in September 2007. She put down more than half the price and...
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Cleaning up after myself was something Madre and Grandma beat into me at an early age; it was the price of being allowed inside the house. But as the eldest of five, I was also expected to clean up the messes my younger siblings had created. Frankly, chores were a lot easier when what I was...
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The Billings Gazette reports from Montana. "Subprime loans were invented for people with bad credit by people who needed a supposedly safe haven for a worldwide glut of investment dollars. When the 'no credit, no job, no problem' housing scheme inevitably collapsed, Montana largely escaped the...
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On Friday I proposed the following: "There is something going on right now regarding the “shadow inventory” and lender-owned foreclosures. I suggest an initiative to counter this and expose it for what it is; illegal. It should be something like this: To use public pressure and legal avenues to...
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