CHESSNOID

I saw another NY Times article that mentions a customer who owed $205,000 and had a prospective buyer willing to buy the property at a short sale for $200,000. The bank refused the short sale and wanted to foreclose the house even though the surrounding values come in at $190,000. After the [...]

In economics there is actually a definition for recession which is as a decline in GDP for two or more consecutive quarters. When it comes to a depression it is a little bit more difficult to describe other than a severe recession that lasts a few years.  I call what we are living in now  [...]

Meredith Whitney has been accurate in the past about her forecasts in the banking and housing market.  So if she sees a possible double dip in the housing recovery, then chances are she is right.
One reason why I like her views is that she explains how she gets to her conclusions.  She isn’t the mainstream [...]

I missed one yesterday when I posted the year to date number of banks closed down by the FDIC.  We are on a fast pace that reflects a more accurate picture of our overall economy.   I hate the manipulated government reports that pretend the problems of unemployment and foreclosures are improving when in fact they [...]