CNN Money Article - Home price drop is biggest ever The S&P Case/Shiller report shows the biggest year-over-year price decline on record.
Excerpt from the article
Tuesday's report came in the wake of many other surveys indicating that the housing market is getting worse. Foreclosure filings and the risks of future foreclosures were both up sharply; the number of new homes sold plunged more steeply than any year on record; and the pace of existing home sales fell to their lowest level in 27 years.
End of excerpt
Just look at the losses at UBS per this USA Today article UBS adds $4B to subprime losses, bank deep in red - USATODAY.com
With the subprime fiasco, the problems with the economy and with people having problems living from day to day, one has to wonder if a recession is not already upon us and if a depression is on the horizon?
GOD BLESS
Excerpt from the article
Tuesday's report came in the wake of many other surveys indicating that the housing market is getting worse. Foreclosure filings and the risks of future foreclosures were both up sharply; the number of new homes sold plunged more steeply than any year on record; and the pace of existing home sales fell to their lowest level in 27 years.
End of excerpt
Just look at the losses at UBS per this USA Today article UBS adds $4B to subprime losses, bank deep in red - USATODAY.com
With the subprime fiasco, the problems with the economy and with people having problems living from day to day, one has to wonder if a recession is not already upon us and if a depression is on the horizon?
GOD BLESS