Henry Paulson finally admits two things about the housing market:
(1) It poses a threat to the greater economy, and (2) It's not done unfolding.
Paulson also declares that there will be no bailout for the lenders or property speculators.
Freezing ARM rates wouldn't be a bandaid; it'd be a series of stitches that could stop the bleeding...at least for a while. Obviously, it's not good for business. Should that matter?
In a story related to real estate, homebuilder confidence is at a NEW all time low.
Speaking of homebuilders, orders for new homes plunged 39 percent for DR Horton.
Are US consumers completely tapped out?? That would be disastrous given our current situation. I heard somewhere that consumerism accounts for two-thirds of the US economy. Scary.
Dow 22,000...the result of a devalued dollar??
Q and A for a weak dollar.
Crude tops records. Is retail gas soon to follow?
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