In a Yahoo Finance interview with Yale professor and MacroMarkets chief economist Robert Shiller he made some grim housing forecast while promoting his book The Subprime Solution. Three points Shiller made are: Home price declines are already approaching those in the , when they plunged 30% during the 1930s. With prices already down almost 20%, it's [...]

Last Friday Mortgage Bankers Association (MBA) issued a report showing a record 1.2 million homes were in foreclosure during the second quarter of 2008. This was 2.8% of all outstanding loans, and double the same period last year. During the three months ended June 30, 2.9 million homeowners, or 6.4%, were behind on their payments, up [...]

The Wall Street Journal's Web site noted that it seems certain the Government may take over the nation's mortgage giants Fannie Mae and Freddie Mac this weekend. Fannie Mae and Freddie Mac lost a combined $3.1 billion in the second quarter. But, just in the last two weeks both companies said they [...]