Friday April 4 Housing and Economic stories

Top Stories:

Unhappy Homebuyer Suing Realtor - (www.ml-implode.com) – Interesting case where SD couple suing realtor for house purchased 3 years ago as Realtor failed to recognize (or tell buyers) that other houses on the block were selling for $100K less.
In Philly, a New Epicenter for the Battle Over Foreclosures - (www.ml-implode.com) - 'A potential six month foreclosure moratorium in Philadelphia was the subject of a heated meeting Tuesday between members of the...
Consumer Late Payments Highest Since 1992 - (www.bloomberg.com)
Unsold Homes Tie Down Would-Be Transplants - (www.nytimes.com) – Good story about real people trying to sell their homes.
The stealth bailout in the works for housebuilders - (latimesblogs.latimes.com)
Builders Get Breaks From Congress - (www.ml-implode.com) - This is not a big surprise of course with all the bailouts and election presents the politicians are offering.
Mortgage defaults force Denver exodus - (www.usatoday.com)
Manhattan Sales Decline Most in 18 Years - (www.bloomberg.com)
Bad loans leave small U.S. banks short of capital - (www.iht.com)
Wachovia cools on 'option ARM' mortgages - (www.latimes.com)
Corn Tops Record $6 as Wet Weather May Slow Planting in U.S. - (www.bloomberg.com)
The great inflation cover-up - (www.fortune.com)
Judge orders banks to fund Clear Channel sale - (www.azbiz.com) – Ah, the legal system. The “non-biased” judges in TX rule for Clear Channel while the “non-biased” judges in NY rule for the banks J
ATA Airlines shuts down abruptly, fires employees - (www.chron.com)


Other Stories:

Presidential candidates have advisers with roles in subprime - (www.ml-implode.com) - 'It finally looks like the media has placed a microscope on our presidential candidates and what better a place to look then at ...
Mortgages being pulled by lenders - (www.ml-implode.com)
Lender-Abandoned, Non-REO Foreclosures - (www.ml-implode.com)
Gallup: 83% of Americans Say Economy Getting Worse - (www.gallup.com)
The Decline in Median House Prices Sets New Record - (www.seekingalpha.com)
Housing Bust Puts the Squeeze On Retirement Plans - (www.seekingalpha.com)
Keeping liquid in a house equity freeze - (www.bankrate.com)
Fed Mortgage Maps - (www.newyorkfed.org)
Tell Government NOT To Bail Out Housing Borrowers and Lenders - (www.congress.org)

U.S. 10-Year Notes Gain as Jobs Report Spurs Recession Concern - (www.bloomberg.com)
U.S. Initial Jobless Claims Rose 38,000 to 407,000 - (www.bloomberg.com)
Bernanke warns of possible recession - (www.chicagotribune.com)
Questions for the Fed - (online.wsj.com)
Eight Steps to a Trillion-Dollar Meltdown - (www.foreignpolicy.com)
$231 Billion in Writedowns And Counting - (www.mybudget360.com)
How Not To Save Housing - (www.washingtonpost.com)
Fannie Mae pretends to tighten rules for mortgages - (biz.yahoo.com)
Mortgage Interest Deduction Helps Mostly The Rich - (www.nytimes.com)
Overdue Consumer Debts Highest Since 1992, ABA Says - (www.bloomberg.com)
Testimony Offers Details of Bear Stearns Deal - (www.nytimes.com)
U.S. Slump Takes Toll Across Globe - (online.wsj.com)
More Consumers Are Behind on Their Loans - (www.nytimes.com)
Fed goes to brokerages to monitor their state: report - (www.reuters.com)
Soros Sees Additional Market Declines After Temporary Reprieve - (www.bloomberg.com)
When leverage gets out control - (www.iht.com)
Unsold Homes Tie Down Would-Be Transplants - (www.nytimes.com)

To See a Stock Market Bubble Bursting, Look at Shanghai - (www.nytimes.com)
Rice Jumps to Record, Corn Near High as Demand Outpaces Supply - (www.bloomberg.com)
U.S. office sector shows signs of weakness: report - (www.reuters.com)
The Auction-Rate Lockout - (online.wsj.com)
New cloud on horizon for hedge funds - (www.ft.com)
Taleb on the myth of models - (money.cnn.com)
Home Prices Fall in 21 U.S. Cities Amid Foreclosures - (www.bloomberg.com)
Skilling appeal hinges on meaning of 'honest services' - (www.chron.com)

GSEs step in to fill home loan vacuum - (www.ft.com)
A Stormy Decade for Citi Since Travelers Merger - (www.nytimes.com)
AP Centerpiece: Sawdust prices soar as supply dwindles with housing downturn - (www.signonsandiego.com)

Fear of unrest mounts as hunger spreads - (www.ft.com)
Europe Retail Sales Unexpectedly Drop, Led by Germany - (www.bloomberg.com)
Perils in The Price Of Rice - (www.washingtonpost.com)
Food prices ring alarm for Asian nations - (www.ft.com)
BayernLB writes down €4.3 billion on subprime losses - (www.iht.com)
Iceland example raises concern about emerging market countries - (www.iht.com)
Housing slowdown threatens 'Celtic tiger' economy - (www.ft.com)
ECB move highlights credit tensions - (www.ft.com)