Monday January 21 Housing and Economic stories

Top Stories:

Sub-Prime Mortgage Company Exec Jumps to Death - (www.ml-implode.com)
Panic selling shuts £2bn Property fund - (www.ml-implode.com)
The House Equity Crisis Ahead - (businessweek.com)
Condo Buyers Look For Way Out - (dailybusinessreview.com)
Ambac's Insurance Unit Cut to AA From AAA by Fitch Ratings - (www.bloomberg.com)
Sonoma house sales at record low - (www.pressdemocrat.com)
Appraiser Exposes Toxic Debt Tie to Inflated Values - (bloomberg.com)
Municipal borrowers bypass troubled insurers - (www.ft.com)
Money: Humbled housesellers (leading to divorce) - (www.ocregister.com)
Foreclosure wave sweeps America - (news.bbc.co.uk)
Wealthy may be next in line in house crisis - (news.yahoo.com)
Funny one - Parking spots sold as condos - (www.thestar.com)
Future housing market will favor renters not burdened with a house - (www.nytimes.com)
More Foreclosures Than Workouts - (biz.yahoo.com)


Other Stories:

UK Property Funds Shut Down By Panic Selling - (globaleconomicanalysis.blogspot.com/)
Grim News For State Budgets - (globaleconomicanalysis.blogspot.com/)
Melville company offers controversial $1,000-down mortgage - The easy numbers might sound like a return to the type of subprime financing that damaged the housing and Wall Street markets, b... - (www.ml-implode.com)
"B. F. Saul Wholesale Lending is done...I'm so sad!" - (www.ml-implode.com)
UBS, After a Write-Down, Closes Finance Unit in U.S. - (www.ml-implode.com)

Bush Proposing $145 Billion Plan (i.e., Helicoptor Drop of free money) to Spur Economy - (www.nytimes.com)
California jobless rate leaps to 6.1% - (www.latimes.com)
What a Recession Could Mean to You - (online.wsj.com)
Region's Home Prices Continue To Fall; Some Pockets Thrive - (www.washingtonpost.com)

Q&A: Monolines - (www.ft.com)
Foreigners Buy Stakes in the U.S. at a Record Pace - (www.nytimes.com)
Earnings Won't Bail Out Market This Time - Forbes
Counterparty risk fears re-enter mainstream - (www.ft.com)
How we cashed in before the housing crash - (www.latimes.com)
VC Investments in U.S. Neared $30 Billion in '07 - (online.wsj.com)

Calm surface disguises turmoil beneath - (www.ft.com)
SF Bay Area Asking Prices Falling - (patrick.net)
SF Bay Area Prices 11.7% off Peak - (calculatedrisk.blogspot.com)
Sacramento surpasses decline of 1990s - (sacramentolanding.blogspot.com)
Merrill vows to reform bonus system - (www.ft.com)
The Construction Site Called Saudi Arabia - (www.nytimes.com)
Bank crisis hurts UK light-touch drive - (www.ft.com)
Ambac Downgraded, Cities Seen at Risk - (www.ap.com)
Housing Prices Expected to Bottom in 2010, 21% Off '06 Highs - (seekingalpha.com)
SP's gloomier mortgage view puts more pressure bond insurers - (marketwatch.com)
MBIA, Ambac Tumble, Default Risk Soars After Losses - (bloomberg.com)
Ambac Tumbles on More Subprime Fallout - (businessweek.com)
More Housing Horrors Across The Pond - (fool.co.uk)
Construction of new houses falls 24.8%, steepest drop in 27 years - (latimes.com)
Volcker blames Fed for 'bubbles,' says it isn't in control - (usatoday.com)
New Bush Coins to Replace US Currency - (blip.tv)