Friday November 9 Housing and Economic stories

Best sources of housing and financial news stories (with no spin):
· http://patrick.net/housing/crash.html (Patrick.net US Housing Crash Continues)
· http://www.bullnotbull.com/bull/
· http://www.prudentbear.com/
· http://www.safehaven.com/
· http://www.jasmts.com/readingRoom.php (Jim Shepherd Investment Strategist)
· http://globaleconomicanalysis.blogspot.com/ (Mish’s Global Economic Trend Analysis)


Housing and Economic News:
Sotheby’s shares drop 28% - (www.ft.com)
Analyst downgrades follow disappointing art sale
Credit squeeze spoils rosy picture- (www.ft.com)

* US Veterans Constitute 1/4 of America's Homeless * - (www.bullnotbull.com/bull)
Lou Dobbs: The November Surprise - (www.bullnotbull.com/bull)
Ron Paul Wins Straw Poll on Giuliani's Home Turf - New York! - (www.bullnotbull.com/bull)
* Nystrom: Things Become More Serious * - (www.bullnotbull.com/bull)
Zentay: The Robert Rubin & Ben Bernanke Death Embrace - (www.bullnotbull.com/bull)
National Debt Hits Record $9 Trillion - (www.bullnotbull.com/bull)
Citizens Brace for Heating Oil Highs - (www.bullnotbull.com/bull)
Homeowners Feel the Pinch of Lost Equity - (www.bullnotbull.com/bull)
Global Markets Fall after US Sell Off - (www.bullnotbull.com/bull)
Morgan Stanley Reports $3.7 Billion Sub Prime Hit... - (www.bullnotbull.com/bull)
US Jobless Claims Decline Again - (www.bullnotbull.com/bull)
Gold Settles at Record High - (www.bullnotbull.com/bull)


From http://www.prudentbear.com
Bernanke Says Fed Sees Slower Growth, Inflation Risk - Bloomberg (11/08/2007 11:54 AM)
Crisis ‘to get worse before it gets better’ - FT (11/08/2007 09:29 PM)
Price is (not) right: Appraisals now sink sales - Boston Herald (11/08/2007 09:04 PM)
Homeowners Feeling the Pinch of Lost Equity - NY Times (11/08/2007 05:11 AM)
Credit crunch, Act 2 - CNN/Money (11/08/2007 08:52 AM)
Rise in borrowing lowest since April - Chicago Tribune (11/08/2007 05:06 AM)
Unseasonably Higher, Gas Prices Add to Strain on U.S. Consumers - NY Times (11/08/2007 05:12 AM)

Insight: Dowgrade fears dog monolines: Tett - FT (11/08/2007 12:59 PM)
SIV Rescue Plan Faces New Pressure - WSJ ($) (11/08/2007 05:25 AM)
Asset-Backed Commercial Paper Drops Most in 2 Months - Bloomberg (11/08/2007 01:53 PM)
Long term problems, near term bounce? - TheStreet.com , Kass, (11/08/2007 08:44 AM)
Large hedge fund shelves IPO - N.Y. Post (11/08/2007 08:39 AM)
US Congress to examine ‘speculative’ oil trades - FT (11/08/2007 09:17 PM)
SIVs face fight to survive, says Moody’s - FT (11/08/2007 09:30 PM)
Triple whammy: Heating oil, gasoline, diesel all top $3 - USA Today (11/08/2007 05:18 AM)
SIV ratings may be cut at HSBC, Citigroup - LA Times (11/08/2007 05:30 AM)

FAS 157 Could Cause Huge Bank Write-offs - CFO.com (11/08/2007 08:49 AM)
Retailers post weak October sales - Reuters (11/08/2007 11:04 AM)
Toll Brothers Revenue Declines as Demand for Housing Slumps - Bloomberg (11/08/2007 04:58 AM)
A.I.G. Takes a Hit of $1.95 Billion on Housing Investments - NY Times (11/08/2007 05:08 AM)
Cuomo's Loan Probe Turns to Fannie, Freddie - Washington Post (11/08/2007 05:13 AM)
As Energy Prices Soar, U.S. Industries Collide - WSJ ($) (11/08/2007 05:22 AM)
Politics, not finances, might rescue Citigroup - Houston Chronicle (11/08/2007 08:36 AM)
Expect hit to bank balance sheets in '08 - N.Y. Post , Crudele, (11/08/2007 08:40 AM)
Rising costs reroute corporate travel plans - Dallas Morning News (11/08/2007 05:08 AM)
Lennar slows down 2 O.C. projects - Orange County (11/08/2007 05:16 AM)
Soaring Fuel Costs Ground Airline Stocks - TheStreet.com (11/08/2007 08:44 AM)
Day of Reckoning for Ex-Freddie Chief - CFO.com (11/08/2007 08:51 AM)
Trichet Says ECB Stands Ready to Counter Price Risks - Bloomberg (11/08/2007 08:26 AM)
U.K. House Prices Fall for Second Month, HBOS Says - Bloomberg (11/08/2007 04:58 AM)
Global economic storm clouds grow - FT (11/08/2007 05:15 AM)

IEA sounds alarm over huge energy demands - FT (11/08/2007 01:04 PM)
World Energy Outlook Sounds The Alarm - Forbes (11/08/2007 05:20 AM)
Next on Wall Street: `Honey, I Shrunk the Bonus': Mark Gilbert - Bloomberg (11/08/2007 05:24 AM)
Inflation contagion - Seattle Times (11/08/2007 05:28 AM)


From http://patrick.net/housing/crash.html
Don't Blame Market for Housing Bubble (old but good) (house.gov)
Ron Paul Gives Fed's Ben Bernanke a Schooling on Inflation (bullnotbull.com)
Leverage becomes enemy when prices fall (idahostatesman.com)
Calif. house prices 37% ahead of U.S. loan limits (lansner.freedomblogging.com)
Oppose the San Mateo County Foreclosure Moratorium! (patrick.net)
Seattle prices down again -- it is NOT time to buy! (seattlepi.nwsource.com)
Condo Fee Defaults Surge in Manhattan (nysun.com)
Price drops $1000 every day! (fortlauderdale.craigslist.org)
Most Affordable Places to Live Well (finance.yahoo.com)
Bankruptcy Law Backfires on Banks (bloomberg.com)
Toll Brothers sales sharply lower in early financial report (money.cnn.com)
Shareholder Sues Citigroup Execs Over Subprime (efinancedirectory.com)
Affirmative Action for Morons (pacificariptide.com)
Houseowners Feel the Pinch of Lost Equity (nytimes.com)
Credit Card Debt a $915 Billion Disaster-in-Waiting (newsmax.com)
HSBC Ends Sales of Mortgage-Backed Securities in U.S. (bloomberg.com)
Houses Left Vacant in Slump Mar Neighborhoods (npr.org)
Downside risks from financial shocks will persist (PDF - patrick.net)
Donate to patrick.net, help make housing affordable (patrick.net)