The Brakes Are Not Working In California

The LA Times reports from California. "A record 10% of the nation's mortgage-burdened homeowners fell behind on their loan payments or were in foreclosure during the third quarter, according to a survey released Friday by the Mortgage Bankers Assn., which said California and Florida were the...
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Desperation Has An Ugly Face

It's Friday desk clearing time for this blogger. "A lot has happened since 2004 -- in the housing market and in the lives of everyone associated with Vantage Pointe, the largest residential project ever to be built in downtown San Diego. Jennifer Bishop made a 5 percent deposit on a unit in Vantage...
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It's Not As If There Was No Warning

A report from the Washington Independent. "To great fanfare, mortgage giants Fannie Mae and Freddie Mac announced last month they would temporarily halt foreclosures and evictions from Thanksgiving to Jan. 9. But it’s not working out that way for everyone. And certainly not for Julio Angulo of...
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It's Like A Big Bomb Went Off In Florida

The St Petersburg Times reports from Florida. "A national report released Tuesday said Florida leads the nation in mortgage fraud. As the report was being released, a federal jury in Broward County was returning guilty verdicts in a scam case that included $5-million in fraudulent mortgages. Howard...
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The Home That Was To Be Their Nest Egg

ABC 7 News reports from California. "Monday was just another day at Marsh Creek Elementary in Brentwood. School keeps kids focused on things other than the housing slump which has devastated this community. Just a few miles away is the City of Oakley where 620 homes so far this year have been lost...
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Underwater In A Way We Have Never Seen

The Denver Post reports from Colorado. "David Craig knows how draining it can be to make payments on a home that is worth less than the mortgage debt on it. The Brighton-area resident and his wife have struggled the past two years to carry not one, but two, homes valued at less than what's owed on...
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The ATM Known As Your House Has Shut Down

The Missoulian reports from Montana. "The Missoula Symphony Orchestra is not in the business of selling houses. But that hasn't shielded the local orchestra from feeling the effects of a slowdown in the Missoula housing market and the broader economic downturn that is sweeping the nation. Late last...
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The Days Of Living Fat Have Come To An End

Readers discussed the economic fallout from the housing bubble. "My wife and I decided to speed the bust along by not participating in the consumer aspect of Christmas this year. Beyond a couple bottles of wine for our folks, we’re instead making a donation to our two favorite non-profits. My...
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A Vacation From Economic Reality

Readers discussed the holidays and the housing bubble. "Three months ago everyone in my extended family up north was talking about coming down to LA for some warmth and sunshine, disneyland, and broadway show. About two weeks ago their plans all fell apart and now we’ll only have local family at...
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The Turkey Of The Year In California

The Press Telegram reports from California. "Delfa Robles, 68, a Long Beach resident and a member of the Association of Community Organizations for Reform Now, is facing foreclosure of the home where she and her family have lived for 13 years. 'She tried to start a restaurant business a couple of...
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