Foreclosures and stuff

So, on Tuesday I looked through the MLS for houses that are banked owned and I'm still shocked at what they are asking for them. My Agent did know of some deals that went through but the banks still have near market value on them. Are they just waiting with a high price hoping someone will come along and may near full price?

House of Representatives passed a massive rescue package to shore up the struggling housing market. http://us.rd.yahoo.com/dailynews/rss/topstories/*http://news.yahoo.com/s/nm/20080724/bs_nm/fannie_freddie_dc

In the news, The Federal Reserve unanimously approved new mortgage lending rules to crackdown on shady practices - particularly sub prime loans made to borrowers with weak credit. http://rss.cnn.com/~r/rss/money_topstories/~3/335014181/index.htm

The number of Americans losing their homes to foreclosure continued to soar in June: http://rss.cnn.com/~r/rss/money_topstories/~3/331566102/index.htm

With all of this stuff going on you would think I would be able to get a deal on another rental.

Home prices post record decline

The prices of homes sold in the first quarter of 2008 posted a record decline, according to a new report from the Office of Federal Housing Enterprise Oversight.

http://rss.cnn.com/~r/rss/money_topstories/~3/295921407/index.htm

Foreclosures: The fight over the fix

While Congress grapples with how to help troubled homeowners, the Bush administration is expanding a more modest effort to help at-risk borrowers.

http://rss.cnn.com/~r/rss/money_topstories/~3/288637271/index.htm

Where home prices are headed next

The housing implosion is nowhere near over. In 75 of the 100 top U.S. cities, prices are expected to fall in the next 12 months according to Fiserv Lending Solutions. Do you agree? If so you should wait to buy.

http://rss.cnn.com/~r/rss/money_topstories/~3/285354180/index.htm

Regulator: Fannie, Freddie face more risks

Mortgage financing giants Fannie Mae and Freddie Mac could face further problems if home prices continue to plummet more than many current forecasts, according to the chief federal regulatory agency charged with overseeing the two firms.

http://rss.cnn.com/~r/rss/money_topstories/~3/285586459/index.htm

Fed cuts rates again and hints at pause

The Federal Reserve cut its key interest rate by a quarter percentage point Wednesday, but the central bank's statement signaled it may be the last rate cut for at least a while.

http://rss.cnn.com/~r/rss/money_topstories/~3/280958372/index.htm

$900M loss and more bad loans - Countrywide

Countrywide Financial Corp. swung to a nearly $900 million loss Tuesday, after the mortgage lender was forced to set aside more money for credit losses as a result of further deterioration in the housing market.

http://rss.cnn.com/~r/rss/money_topstories/~3/280155588/index.htm

Foreclosures up 112%

It's hard to belive but "one out of every 194 U.S. households received a foreclosure filing in the first three months of 2008, according to the latest figures released Tuesday by RealtyTrac." I really thought this foreclosure thing was overblown but I could be wrong.

http://rss.cnn.com/~r/rss/money_topstories/~3/279964560/index.htm

Housing relief efforts slow as pace of foreclosures rise

The pace of housing rescue efforts slowed in the first quarter of the year, according to a new report, while the number of people losing their homes to foreclosure skyrocketed during the same period.

http://rss.cnn.com/~r/rss/money_topstories/~3/279646602/index.htm

Vacant homes for sale hit a record high

Not the same here in central IL but wow:

http://rss.cnn.com/~r/rss/money_topstories/~3/279489339/index.htm

New home sales at 16-year low

New home sales fell in March to the lowest level in more than 16 years, according to a key government report on the battered housing market released Wednesday.

http://rss.cnn.com/~r/rss/money_topstories/~3/276929770/index.htm

Homebuilders: No recovery until 2009

The damaged housing and home construction markets will continue to take a beating at least through the end of the year, according to economists who spoke Thursday at a forecast conference sponsored by the National Association of Home Builders.

http://rss.cnn.com/~r/rss/money_topstories/~3/276976640/index.htm

Foreclosures jump 57% in March

Foreclosure filings jumped 57% in March compared with the same month last year and rose 5% versus February, as the nation's housing market continues to deteriorate.

http://rss.cnn.com/~r/rss/money_topstories/~3/270583456/index.htm

60% of Americans not buying homes - Poll

http://rss.cnn.com/~r/rss/money_topstories/~3/270066763/index.htm

Pending home sales at all-time low

An index of homes under contract for sale fell more than expected in February, reaching the lowest level since the index's 2001 debut, according to a report released Tuesday.

http://rss.cnn.com/~r/rss/money_topstories/~3/266372253/index.htm

Fed sees economy getting worse

Some members of the Federal Reserve are worried about the possibility of a "severe and protracted downturn" in the U.S. economy, according to the minutes of the central bank's latest minutes released Tuesday.

http://rss.cnn.com/~r/rss/money_topstories/~3/266509029/index.htm

Construction spending declines

Construction spending fell in February, according to a government report released Tuesday, but the decline was less than expected.

http://rss.cnn.com/~r/rss/money_topstories/~3/261992034/index.htm

Fed official: More help needed for borrowers

An influential member of the Federal Reserve called for more financial education to help low-income mortgage borrowers Monday.

http://rss.cnn.com/~r/rss/money_topstories/~3/261385640/index.htm

Fed cuts key interest rates by 3/4 point (Reuters)

Why don't we see the lower rates?

Reuters - The Federal Reserve slashed a key U.S. interest rate by three-quarters of a percentage point on Tuesday, a substantial cut but smaller than many in financial markets had expected, as part of an effort to hold off a deep recession and financial meltdown.

http://us.rd.yahoo.com/dailynews/rss/topstories/*http://news.yahoo.com/s/nm/20080318/bs_nm/usa_fed_dc

Households face the unthinkable: budgeting (Reuters)

Wow, they call this new? - "After years of living large, U.S. households are finally learning what financial experts thought they never would: to live within their means."

http://us.rd.yahoo.com/dailynews/rss/topstories/*http://news.yahoo.com/s/nm/20080318/ts_nm/usa_housing_consumers_dc