â€œWhat is good for General Motors is good for Americaâ€ Charlie Wilson, CEO of GM, 1955.Maybe the country will follow GM in to bankruptcy as well...The storied American car maker, which by some estimates employs one out of every ten Americans will head to bankruptcy tomorrow morning. It will be restructured by an Obama appointee, after negotiations, bail out money … [Read more...] about GM to file bankruptcy tomorrow
Archives for May 2009
The best that can be said about S&P/Case-Schiller numbers out today is maybe home prices can't fall any faster. Prices for Q1 of this year dropped at 19.1%, .9% more than they dropped in the last quarter of '08. The 20-city index dropped 18.7% year-over-year, also a record. It fell 18.5% during the last three months of 2008. This index has plummeted 32.2% from its July 2006 … [Read more...] about Is drop in home values nearing terminal velocity?
The housing crisis has caused a re-evaluation of the current system on a number of fronts, from how mortgages are serviced to lending to the governmentâ€™s role in financial markets. One area in particular thatâ€™s come under intense scrutiny of late is financial regulation, and Uncle Sam has launched a number of efforts to overhaul the regulation of the financial system. With … [Read more...] about Would One Mortgage Regulator Work?
Twenty-four percent of homeowners do not have any savings to cover their living expenses in the event they lose their job, according to the latest quarterly survey from Wells Fargo and Company. Although only 23 percent of survey respondents have managed to increase their savings during the past year, 60 percent indicate they want to increase their savings, up from 53 percent … [Read more...] about Homeowners Lack Savings Amid Growing Job Loss Fears
Here we are, well into the aftermath of the financial crisis that torpedoed home values across the country, sent mammoth financial institutions into the poor house, and drove unemployment numbers toward the double digits. The government, for its part, has taken increasingly drastic steps to put the real estate market right again, to mixed effect. From rock bottom interest rates … [Read more...] about Do Homebuyers Need More Encouragement?