MSM: Home Prices in 20 U.S. Cities Fell by a Record 19% (Update2)
(Bloomberg) – Home prices in 20 U.S. cities fell 19 percent in January from a year earlier, the fastest drop on record, as demand plummeted and foreclosures rose. The S&P/Case-Shiller index’s...
View ArticleMSM: US foreclosures up 24 percent in 1st quarter
The number of American households threatened with losing their homes grew 24 percent in the first three months of this year and is poised to rise further as major lenders restart foreclosures after a...
View ArticleThe Economy – Hyping Hope While Peddling Fear
Barack Obama and Fed chairman Ben Bernanke were reading from the same playbook this week, hyping hope in the economy, but still wringing all the necessary leverage out of public fear to justify the...
View ArticleHawaii foreclosures soar 503 percent
Hawaii’s foreclosure activity rose a staggering 503 percent in March, the ninth consecutive month of double-digit increases for the state, according to RealtyTrac. One out of every 700 households in...
View ArticleMSM: Regulators Shut Banks in Georgia, Michigan, California, Idaho
(Bloomberg) — Regulators seized banks in Georgia, Michigan, California and Idaho with total assets of $2.3 billion, bringing the tally of failures in the U.S. this year to 29, exceeding the total for...
View ArticleWall Street rallies as unemployment rate soars – US shed another half-million...
The official US unemployment rate jumped by 0.4 percentage points to reach 8.9 percent last month, according to figures released Friday by the Labor Department. The economy lost another 539,000 jobs in...
View ArticleU.S. Foreclosure Filings Hit Record for Second Straight Month
Foreclosure filings in the U.S. rose to a record for the second consecutive month in April as banks increased efforts to seize homes from delinquent borrowers. A total of 342,038 properties received a...
View ArticleMSM: Foreclosure Filings in U.S. Reach Record 1.5 Million
(Bloomberg) – U.S. foreclosure filings hit a record in the first half, a sign that job losses and falling property prices deepened the housing recession, according to RealtyTrac Inc. More than 1.5...
View ArticleAs jobless claims rise, Wall Street celebrates corporate profit reports
The number of Americans filing new claims for jobless benefits rose by 30,000 in the week ended July 18, the Labor Department reported Thursday. The total for the week was 554,000. With nearly 15...
View ArticleUS job cuts, foreclosures mount
This week brought new indications that any economic “recovery” in the US will not be shared by the working class. Telecommunications giant Verizon announced that it would eliminate 8,000 jobs by the...
View ArticleMSM: Foreclosures –‘Worst three months of all time’
(CNN) – Despite signs of broader economic recovery, number of foreclosure filings hit a record high in the third quarter – a sign the plague is still spreading. By Les Christie, CNNMoney.com staff...
View ArticleMSM: U.S. Foreclosures to Reach 3.9 Million in Second Record Year
(Bloomberg) – Foreclosure filings in the U.S. will reach a record for the second consecutive year with 3.9 million notices sent to homeowners in default, RealtyTrac Inc. said. This year’s filings will...
View ArticleMSM: America slides deeper into depression as Wall Street revels
(LondonTel) – December was the worst month for US unemployment since the Great Recession began. The labour force contracted by 661,000. This did not show up in the headline jobless rate because so many...
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