Tuesday October 16 Housing and Economic stories

Oil has risen 400% since 2001 yet CPI is only up 2-4% per year. Whenever the Fed tries to fight a recession, they do it in ways that take away from average citizen by creating money out of thin air. Oil, food, corn, copper, gold, and almost everything is at 20 year or all time highs. Eventually the average person will learn that the Fed is fleecing them.

SF Neighborhoods Crumble in Wave of Foreclosures
Long Island Foreclosures Rise - And No One Wants the Houses
Oil New Record $85Gold 28-Year High

Delinquencies at condos can cost neighbors - Boston Globe (10/16/2007 04:56 AM)
Beazer offers creditors cash to stay afloat - AJC.com (10/16/2007 08:41 AM)
Horton Orders Plunge Anew - TheStreet.com (10/16/2007 08:36 AM)
Homeowners pass on remodeling projects in down market - Chicago Tribune (10/16/2007 04:46 AM)
3 Major Banks Offer Plan to Calm Debts in Housing: Norris - NY Times (10/16/2007 05:20 AM)
As Defaults Rise, Washington Worries - NY Times (10/16/2007 05:21 AM)
Foreclosures hit record high in metro Atlanta - AJC.com (10/16/2007 08:40 AM)


Housing Crash News (from http://patrick.net/housing/crash.html)

Real Estate Blogger Bursts Bubbles (abcnews.go.com)
Why the Housing Slump Isn't Over Yet (safehaven.com)
The Next Mortgage Bomb? (seekingalpha.com)
Premature Enthusiam Among Manteca Auction "Winners" (mercurynews.com)
House Prices Dropping Fast in Santa Clarita, CA (patrick.net)
How Housing Turmoil Could Hurt Republicans in '08 (online.wsj.com)
House sellers try sweetening the pot for agent who brings buyer (marketwatch.com)
Citigroup Net Falls 57 Percent On Bad Mortgage Bets (bloomberg.com)
Foreclosures good news for patient savers (orlandosentinel.com)
Cash-strapped Americans raiding their 401ks (chicagotribune.com)
Canada not immune to housing bubble (canada.com)
Bernanke: Housing Woes to Slow Growth (biz.yahoo.com)
How the U.S. Media Failed Housebuyers (Charles Hugh Smith)