Interesting Housing News Links (February 11, 2009)

* Break-in suspect charged with murder after accomplice is shot by homeowner (Scott Reynolds, WAVE)

LOUISVILLE, KY (WAVE) – A fatal shooting over the weekend in Louisville has resulted in a murder charge that may be unlike any you have seen in Kentucky. Police say the homeowner who pulled the trigger acted in self-defense and is not being charged. Instead, one of three suspects who broke in is now facing the murder charge.

* Prophet Development owner pleads guilty to fraud (Pacific Business News)

Joseph Baumeister pleaded guilty to bank fraud charges in a mortgage fraud scheme involving 16 area properties, U.S. Attorney Catherine Hanaway said Wednesday.

* Calif. fugitive caught in $100M mortgage fraud

Authorities say one of three suspects in a $100 million mortgage-fraud scheme has been arrested in Spain.

* Cigarette butt leads to arrest in Harley theft (Derek Cooley, Arizona Republic)

DNA from a cigarette butt led to the arrest of a 33-year-old Mesa man in connection with a Harley-Davidson motorcycle that was stolen from the garage of a Mesa home near Higley and Brown roads, police said Wednesday.

* Rationality dies with crisis (Erie Times-News)

What allowed some people to see the financial crash coming while so many others missed its gathering force? I put that question recently to Nouriel Roubini, who has come to be known as “Dr. Doom” because of his insistent warnings starting in 2006 that we were heading into a global firestorm.

* Recession, bailout costs push deficit to record (Martin Crutsinger)

The recession and massive costs for the financial bailout have pushed the federal deficit to an all-time high for the first four months of the budget year.The Treasury Department reported Wednesday that the deficit for October through January totaled $569 billion, more than six times larger than the imbalance during the year-ago period.The deficit for January alone totaled $83.8 b…

* Obama’s Plan On Foreclosures At Least A Week Away

WASHINGTON – To those on the front lines of the housing crisis, the Obama administration’s pledge to spend $50 billion to combat foreclosures was a welcome change in the government’s approach. But the actual plan won’t be revealed for at least a week and might not be enough to prevent the housing market’s troubles from mushrooming further.

* Two men found dead in Pataskala (Columbus Dispatch)

PATASKALA — Two men were found dead in this Licking County city yesterday after a fire at one home led law-enforcement authorities to another residence and the bodies.

* Home sales prices in NW Ohio drop 17 percent in January (The Blade)

The average price of an existing home sold last month in northwest Ohio fell 17 percent from a year earlier to $86,000, the Toledo Board of Realtors reported Wednesday.

* Home loan index falls to decade low (St. Louis Business Journal)

The Mortgage Bankers Association said Wednesday applications for new loans dropped last week to the lowest level this decade.


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