08 Feb
Posted by Julia Redstone as Real Estate foreclosure
It is an eerie situation. The past of real estate has come to haunt the present but few are aware of the ghost. There is very few data on a similar real estate crisis that took place in the 1920’s.
But hunting through the ruins of financial and real estate history Professor Goetzmann of Yale [...]
05 Feb
Posted by Julia Redstone as Foreclosure Crisis
The earning reports coming from Goldman Sachs and JPMorgan Chase show that the working people of America have not only been injured by the foreclosure crisis but they have also been insulted.
The balance sheets of these jumbo banks are in robust health, profits have spiked and the bonuses of the top brass are astronomical. [...]
04 Feb
Posted by Julia Redstone as Real Estate foreclosure
Although many are saying that the securitization of mortgages is something brand new history tells another story. What happened in the past in the 1920’s is being repeated with slight variations the present real estate scene. Residential buildings were bundled together and sold as mortgages. Commercial properties too backed by these mortgages as securities.
There [...]
03 Feb
Posted by Julia Redstone as Foreclosure
Despite differences in opinion a poll shows that the majority of Americans agree that although 2009 had been bad, it is going to better in 2010. Three fourths are sure that 2009 was a bad period for USA marked by unemployment, foreclosures and ailing economy. 42% said it was “very bad” according to recent AP-GfK [...]
Read more...The residential foreclosure rate in New Jersey increased 29 per cent in ’09 as compared to ’08. Statistics reveal that a South Jersey county has been hit the hardest. The counties that are witnessing very high number of foreclosures are Bergen, Atlantic and Sussex.
Meanwhile foreclosures of commercial properties have also been increasing. They are up [...]
01 Feb
Posted by Julia Redstone as Foreclosures
Wall Street ‘fat cats’ are prowling around cockily while the country remains caught in the net of foreclosures and unemployment. Lloyd Blankfein the king of Goldman Sachs shrugged off the crticism levelled against the financial operations saying that he was merely a banker “doing God’s work.”
Analysts are now calculating that from the profits raked [...]
Bank of America has at last repaid the $45 billion it had taken from the taxpayers. There are rumors coming from Washington about a swath of new regulations. This has prompted the bank to put in more teeth into its lobbying tactics starting from the close of 2009.
Bank of America spent in all $3.6 million [...]
28 Jan
Posted by Julia Redstone as Finance
New York City in its attempt to save housing threatened by investors has started off a new programme to save rented apartments belonging to the modest category. These were badly impaled by private equity companies during the time of the boom and then allowed to crumble and be foreclosed upon when borrowers failed to make [...]
Read more...26 Jan
Posted by Julia Redstone as Finance
There are genuine fears that inflation at a galloping rate is just waiting to pounce. The economy of USA is indicating some of the classic symptoms that precede inflation of the worst type.
A basic principle of economics is that prices go up when the government prints too much money; to put it simply – when [...]
Here is an interesting trend. Most regions in the US witnessed foreclosures last year except for New Jersey and Pennsylvania. According to RealtyTrac, at least one out of 45 houses was foreclosed, making the total percentage 2.21 per cent.
In fact, foreclosure notices went up from1.03 per cent in ’07 to 1.84 per cent in ’08. [...]
