Commercial Real Estate Values Declining in Real Time – EconBlog
Nothing is ever clear, but given the rapid decline in such measures as ECRI’s weekly leading indicator growth rate, the
continued poor velocity of money, it continues to strike EBR that too much of the positive economic statistics that show recovery from the worst of the depression is due only to Fed money/credit creation.
“The measures are grossly unfair,” Dimitris Bratis, the president of the Greek teaching federation, which will strike for 24 hours tomorrow, told NET TV today. “We’re being asked to pay for the crisis. Greek taxpayers are being asked to foot the bill again.”
Increasing numbers of Californians are suing lenders to avoid foreclosures – The San Jose Mercury News
Even if a lawsuit doesn’t ultimately succeed, it can sometimes significantly delay the loss of a home. Some suits contend the lender reneged on a promise of a loan modification, as in the Levermans’ case. Others argue lenders screwed up the foreclosure process. Among the most frequent claims: During the overheated housing boom, the bank did not properly disclose the terms of the loan, the borrower never really qualified, but got a loan anyhow.
Wells Fargo takes ownership of 1,800 EPA units – The Mountain View Voice
The bank’s foreclosure auction for the properties, which were previously owned by Palo Alto-based firm Page Mill Properties, attracted no bidders Tuesday, said Elise Wilkinson, Wells Fargo spokesperson. As a result, Wells Fargo officially took ownership of the properties, which the bank valued at $142 million.
The best and worst housing markets in Europe – The Christian Science Monitor
Norway ranked as the best housing market in 2009 according to a new survey of 24 countries in Europe.
(has their crash just not happened yet?)
Stiglitz, Nobel Prize-Winning Economist, Says Federal Reserve System ‘Corrupt’ – HufPo
“If we had seen a governance structure that corresponds to our Federal Reserve system, we would have been yelling and screaming and saying that country does not deserve any assistance, this is a corrupt governing structure,” Stiglitz said during a conference on financial reform in New York. “It’s time for us to reflect on our own structure today, and to say there are parts that can be improved.”
