Foreclosure-gate is getting uglier by the day (Carlos Barria/REUTERS)
More and more, Foreclosure-gate is looking like the housing bust’s Enron.
One of the amazing developments of the unraveling of the financial crisis has been the fact that there have been so few people we can actually point to and say without a doubt that guy or gal …
“I really dislike spending money. It doesn’t feel natural.”
For quite some time, there was no shortage of indicators pointing to the fact that the economy wasn’t doing so hot—including some odd data about a falloff in men’s underwear sales, a rise in animals being abandoned at pet shelters, and the impressively overqualified status of this year’s census workers. Now, at long last, we’ve got …
The truth is that there are a lot more buyers and a lot fewer homes on the market than you’d expect.
By now, you’ve probably heard of IRS rage, with the story of a disturbed man who was apparently so angry at the government and tax collectors that he crashed a plane into an IRS building in Texas yesterday. Here’s another rage-filled incident, with no violence, but plenty of destruction: A man in Ohio bulldozed his home before a bank …
This advice is probably a little late for owners of the 1.5 million homes in foreclosure, but a WSJ story succinctly tells the big reason anyone should become a homeowner—because it saves money compared to renting, not because it’s going to make anyone rich. Many speculators are learning that buying a property you cannot afford will do …
The news is making the rounds that in the first half of 2009, 1.53 million properties in the U.S. were in the foreclosure process. That’s up 15 percent companred to the previous year. The figures are certainly the result of the rise in unemployment and slow, confusing relief efforts from the government and lenders. It’s also likely that …
