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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (239193)	2/24/2010 10:18:58 AM
From: MulhollandDrive	Respond to of 306849

dolan media conference call: "We think it is consistent with the timeframe. There's not a change in how we see the future.We think there's about a 5-million-loan pool of seriously delinquent or preforeclosure loans, if you want to call them that -- loans that would normally be in foreclosure now but they aren't. That -- so it has swollen to 5 million now, which is more than the annual run rate of foreclosures we expect to see this year. We're certainly going to do more than 3 million foreclosures a year as a country now in the 2010. And that 5 million continues to grow. It outpaces the bleed-off rate of foreclosures happening. There aren't many alternatives. You can't rewrite the laws of economics, so either massive forgiveness of the principal by owners of the paper -- which is going to focus the pain on one are of the business community -- or --. The pain has to be suffered somewhere. The pain can't be avoided. And people smarter than me with a lot more experience than I have have been working on this for a long time and nobody's really found a solution to it" Jim Dolan, Dolan Media Company.

To: MulhollandDrive who wrote (239193)	2/24/2010 10:23:04 AM
From: Smiling Bob	Read Replies (2) \| Respond to of 306849

Must be the weather. Unexpected? What would you expect at the tail end of the big Gubba Mint gibaway ? --- New home sales drop to record low reuters On Wednesday February 24, 2010, 10:06 am WASHINGTON (Reuters) - Sales of newly built single-family homes unexpectedly fell to a record low in January, according to government data on Wednesday that hinted at potential trouble for the fragile housing market recovery. The Commerce Department said sales dropped 11.2 percent to a 309,000 unit annual rate, the lowest level since records started in January 1963, from an upwardly revised 348,000 in December. It was the third straight month that new home sales fell and the percentage decline in January was the largest in a year. Analysts polled by Reuters had expected new home sales to increase to a 360,000 unit annual pace from December's previously reported 342,000 units. (Reporting by Lucia Mutikani; Editing by James Dalgleish) Copyright © 2010 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.