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latimes.com - 7/31/2009
California's default rate soars to 9.5% - Los Angeles Times
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The staggering number of home mortgage defaults probably will lead to large numbers of foreclosures through at least this year, housing experts say. "It's probably a given we'll see a high number of foreclosures in the next couple of quarters due to the level of defaults plus the recession and ...

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The Mess That Greenspan Made:  Friday morning links

Irvine Housing Blog:  Power Poker

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Friday morning links
The Mess That Greenspan Made — ... and mortar - Economist Unemployment Rises and Prices Fall in Europe - NY Times British Airways posts £148m loss as passenger numbers drop - Telegraph Japan’s Jobless Rate Rises to 5.4%, Damping Recovery - Bloomberg Nikkei surges despite data showing drag on recovery - MarketWatch Japan’s Consumer Prices Tumbled Record 1.7% in June - Bloomberg Rebalancing the world economy: China - Economist REAL ESTATE California's default rate soars to 9.5% - LA Times Radar Logic: Don’t Call It a Housing ...

Housing bears catch a falling knife?
The Mess That Greenspan Made — ... It would be only natural to have at least a couple of weird thoughts rolling around in your head, especially when you have to write about stuff like this in order to pay your mortgage: ...

Power Poker
Irvine Housing Blog — ... in Irvine, many of which are apartments. I can’t find the exact number, but there are around 45,000 houses and condos owned by regular people about one in ten of which are defaulting on their mortgages, and about one in three homes are owned with no mortgage. For the sake of running a simple calculation, let’s say that 3,000 Irvine homes will go through the process and become REO before the Great Housing Bubble has run its course. ...

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