Bubble Sign: FAA?: Lost a home to foreclosure?
Just buy another one - (www.cnbc.com) Linda
Van Doren works at a Tampa, Florida, area housing counseling center, but back
in 2007 the center was unable to keep paying its counselors a full salary. She
continued to work there, but, unable to pay her bills, ironically she lost her
own home, agreeing to a short sale. Despite the stress, anger and damaged
credit, Van Doren never soured on homeownership. "In the back of my mind I
knew what I was going to do; I was going to purchase another home when I could,
and I did exactly that," she said with pride. After renting for three
years, Van Doren bought a home last summer, using a loan insured by the Federal
Housing Administration (FHA). Since the housing crash began, 7.2 million homes
have been lost to foreclosure or short sale, according to Black Knight
Financial Services. Most of those former owners became renters and still are,
but some are slowly, carefully moving back into homeownership. A new government
program is making that happen faster than ever before.
Subprime
Trading Like It’s ’07 in Car-Loan Bonds: Credit Markets - (www.bloomberg.com) In
response to rising default rates on subprime U.S. auto loans, bond investors
are deciding the best thing to do is pile into securities backed by the debt. In
the market where auto loans to people with spotty credit are bundled into
bonds, the difference in yield between the lowest-rated securities and the
safest has narrowed to the least since August 2007, according to Wells Fargo
& Co. data. Demand for the bonds is translating into cheap funding for
lenders, allowing them to make even more loans though payments more than 60
days late are on the increase. Investors are turning to riskier debt to boost
returns as stimulus measures from central banks around the world suppress
interest rates. The European Central Bank last week became the first to take
one of its main rates below zero, underscoring the lengths to which policy
makers are willing to go to jumpstart growth more than five years after the
worst financial crisis since the Great Depression.
Athens:
Riot police sends photo-reporter and two protesting cleaners to hospital - (www.keeptalkinggreece.com) Two
protesting cleaners and photo-reporter Tatiania Boliari were taken to the
hospital after they were injured during clashes with riot police outside the
Finance Ministry in downtown Athens. It was three riot police squads in full
uniform and equipment against 50 unarmed protesting cleaners. Pushes from both
sides had the effect that many women, mostly over 45 years old, fell on the
ground. Bolari was covering the cleaners’ protest when tension
rose between riot police and protesters, the crowd started to run and Bolari
fell down. According to eye-witnesses, a group of riot policemen took advantage
of her situation and started to kick her. She was taken to the hospital, when
she is undergoing medical tests. Both Bolari and Lolos were beaten by riot
police during anti-austerity protests in 2011 and 2012. PS I’m not sure whether
riot police is following orders of the old Minister for public Order Dendias or
the new Minister Kikilias is still trying to find out how the public order
towards unarmed protesters works.
Iraq
disintegrating as insurgents advance toward capital; Kurds seize Kirkuk - (www.washingtonpost.com) Iraq
was on the brink of falling apart Thursday as al-Qaeda renegades asserted their
authority over Sunni areas in the north, Kurds seized control of the city of
Kirkuk and the Shiite-led government appealed for volunteers to help defend its
shrinking domain. The discredited Iraqi army scrambled to recover after the
humiliating rout of the past three days, dispatching elite troops to confront
the militants in the central town of Samarra and claiming that it had
recaptured Tikrit, the home town of the late Iraqi strongman Saddam Hussein,
whose regime was toppled by U.S. troops sweeping north from Kuwait in 2003.
Why jobless millennials are killing housing - (www.cnbc.com) The
one constituency housing needs most is the one struggling the hardest in the
jobs market. Employment among those age 25-34 fell in May to 75.3 percent; this
compares to pre-recession rates of 78 to 80 percent employment, according to
the Bureau of Labor Statistics. "Having a job matters for housing,"
noted Trulia's chief economist, Jed Kolko. "Just 12 percent of employed
25-34 year-olds live with their parents, versus 20 percent of 25-34 year-olds
without jobs." First-time homebuyers have been markedly absent from the
housing recovery. In April they accounted for just 29 percent of existing
homebuyers, according to the National Association of
Realtors.
Historically, their share hovers around 40 percent.
Japan Lodges ‘Strong’ Protest on China Fighter Jet
Incident -
(www.bloomberg.com)
Insurgents Vow to March on Baghdad as Iraq Authorities Scramble to Respond - (www.nytimes.com)
Insurgents Vow to March on Baghdad as Iraq Authorities Scramble to Respond - (www.nytimes.com)
Exclusive:
Alarmed by Iraq, Iran open to shared role with U.S. - Iran official - (www.reuters.com)
Insurgents Broaden Attacks in Advance on Baghdad - (www.nytimes.com)
Insurgents Broaden Attacks in Advance on Baghdad - (www.nytimes.com)
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