U.S. home foreclosures reached a record

Bulging Inventory Signals Next Leg Down in Housing

By Mike Whitney

"U.S. home foreclosures reached a record for the second consecutive month in May, with increases in every state, as lenders stepped up property seizures, according to RealtyTrac.Inc.

http://www.informationclearinghouse.info/article25717.htm



"Dr. Death Says The U.S. Is Really, Really Sick"

By Eric Margolis

Nouriel Roubini, who predicted the American crash of 2008. Knick-named "Dr. Death by the media," he warns of grim economic times ahead: deflation; rising unemployment; increased taxes; overcapacity; and negative growth.

http://www.informationclearinghouse.info/article25710.htm



Man Loses Home During Cancer Fight: Despite Pleading, Bank Forecloses On Home

To the bank, he said, he was just another name and number, not a person trying to provide for his family and fight the cancers that had invaded his body.

http://www.fox5vegas.com/health/23932701/detail.html


From Information Clearing House

--------

Could the Right to Rent Stop the Foreclosure Hurricane?
http://www.commondreams.org/headline/2010/06/24-0

--------

Report: Nearly one in three Q1 US home sales a foreclosure

Reuters

06/30/10

Nearly one out of every three U.S. home sales in the first quarter was a foreclosure property as steep price discounts boosted demand for distressed real estate, RealtyTrac said in a new report on Wednesday. Foreclosure homes accounted for 31 percent of all residential sales in the first quarter of 2010, with the average sales price of properties that sold while in some stage of foreclosure nearly 27 percent below homes that were not in the process, Irvine, California-based RealtyTrac said...

http://www.reuters.com/article/idUSTRE65T0TY20100630


Informant: Thomas L. Knapp

--------

Race and Recession: Foreclosure Losses Still Mounting

Seth Freed Wessler, Colorlines: "It has been more than two years since Sandra Hines got shoved out of her family's home of 38 years, but her loss still feels fresh and raw. She remains proud of her northwest Detroit neighborhood. Its streets are lined with stately trees and dozens of modest brick and concrete houses like the one her family called home for a generation. Today, the two story house sits empty, but through the window a ladder and can of paint can be spotted in the living room - signs that the new owner has been here working."

http://www.truth-out.org/race-and-recession-foreclosure-losses-still-mounting61231



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