Existing Home Sales “Slipped” 23.4% - Existing-Homes sales “slipped” some in January, according to the National Association of Realtors (NAR). The problem, the Realtors point out, is simply that some potential buyers are waiting on sidelines. … Talk about an understatement. The “slippage” the NAR refers to was a 23.4% year-over-year freefall. -  The Big Picture
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Bankruptcy cram downs rolled into foreclosure relief bill - … Allowing judges to “cram down” loan modifications over the objections of lenders could raise interest rates on mortgage loans by 1.5 percent or more, industry groups fighting the proposed changes to the bankruptcy code say. … -  Inman

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More Proof of Subprime Spillover Into the Credit Card Sector - As borrowing in the mortgage market slows, credit card borrowing is accelerating, which is a dangerous trend because borrowers still face weak income growth. -  riskcenter.com free reg. 

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about housing - Crony Capitalism Comes (Returns?) to America - Menzie Chinn -  Econbrowser

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NY attorney general near Fannie, Freddie deal - … Home appraisals would have to come from assessors that do not have formal ties with a lender or mortgage broker, according to sources familiar with negotiations over a deal that could be finalized as soon as Tuesday. … - Reuters  Boston.com 

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CFC Cuts Ad Spending But Why is the Real Question -  Prince of Wall Street

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Credit Default Swaps, a hedge funder’s view -  Rolfe Winkeler - Option Armagaddeon

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The Post is Surprised that Low Home Prices Lead to Foreclosure - Dean Baker -  Prospect.org 

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Greenspan’s Oil Call - … he believes the boom in oil prices is likely to “go on forever” because demand for the commodity is unlikely to weaken.  - BIG

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A Gift Horse For Fannie & Freddie? - Analysts worry mortgage giants could get burned by their new powers. -   Forbes

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Ohio on front line in U.S. housing meltdown - Reuters 

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Stimulus Plan Aids Buyers of High-Priced Homes -  NY Times

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has interactive map - Boynton Beach Neighborhood Shows How Foreclosure Pain Spreads.-  Florida: “Carriage Pointe’s homeowners association board… recently imposed a $60,000 special assessment to account for [homeowner fee] shortfalls. Property owners were paying $142.50/month but now will have to spend an extra $64/month for six months beginning Saturday. The problems at Carriage Pointe are typical of newer developments  ..  Sun-Sentinel 

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FDIC’s Bair: Let the Servicers Service, Or Else - housingwire

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Fitch Warns of Likely Downgrades to Nearly Every Major Mortgage Insurer -  housingwire

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PIMCO’s March 2008 Investment Outlook, “No Country for Old Maids” by Bill Gross is now available at PIMCO