Investor’s Business Daily - Housing Crisis: A new report from the Associated Press claims that the mortgage meltdown is due largely to President Bush’s failure to act in 2005. Sounds plausible — until you actually look at the facts.
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Reuters - Defaults on privately insured U.S. mortgages rose 35 percent in October, and topped 80,000 for the first time, as the troubled economy caused more homeowners to fall behind on payments.

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Reuters - President-elect Barack Obama said on Wednesday he is reviewing whether taxpayers are getting maximum bang for the buck from a $700 billion government financial rescue package and indicated particular interest in helping prevent mortgage foreclosures.

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A Case-Shiller survey shows a 16.6% annual decline in the summer months as the housing picture continues to deteriorate.
NEW YORK (CNNMoney.com) — The home price plunge stayed on a record pace this summer, according to a widely watched gauge of national real-estate markets released Tuesday.
The S&P Case-Shiller Home Price national index recorded a 16.6% decline […]

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AFP - Existing US home sales fell 3.1 percent in October as buyers remained on the sidelines amid economic uncertainty, the National Association of Realtors said Monday.

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AP - Federal Reserve Chairman Ben Bernanke acknowledges he was wrong in believing that there would be limited fallout to financial markets from risky mortgages that soured after the housing market’s collapse.
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Reuters - The shares of big U.S. homebuilders and real estate companies alike slumped on Wednesday as housing starts fell to a record low and concerns spread the commercial real estate market is going the way of residential.

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AP - Mortgage application volume fell 6.2 percent during the week ended Nov. 14, according to the Mortgage Bankers Association’s weekly application survey.

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