Republished from Burbed. While the parent company of the Wall Street Journal, News Corporation, is getting a proper punching across the pond, let’s see how Rupert Murdoch’s business-as-usual cheerleader reports on the causes of The Second Great Depression. Twelve Facts That May Surprise You About the Housing Bust By Nick Timiraos, The Wall Street Journal, May 4, [...]

As foreclosures have continued to slow in the Bay Area and around the country, short sales are making up a larger percentage of the homes sold each month. This trend is expected to continue, which isn’t a positive sign for home prices. DQ News reports on March Bay Area home sales: Last month distressed property [...]

Fannie Mae and Freddie Mac have issued new guidelines designed to be an industry standard for speeding up short sale timelines. Unfortunately, it isn’t going to make a shred of difference. From today’s San Francisco Chronicle: Under the new guidelines, which take effect June 15, servicers have 30 days to review and respond to short [...]

Today Dave Rosenberg echoed my thoughts on how 20-somethings aren’t getting married, don’t dream of owning a home, and… even if they did… they have to much college debt. From Zero Hedge: Could well be in student debt, where outstanding loans surged $117 billion last year to over $1 trillion. More than 80% of 18-24 [...]

Edward DeMarco is weighing the possibility of reducing the principal of hundreds of thousands of Fannie and Freddie mortgages. The decision hinges on just how many additional underwater borrowers would strategically default in order to possibly get their principal reduced. Social mood is hard to forecast. Demarco states: A key risk in principal forgiveness targeted [...]