Interesting Housing News Links (February 17, 2009)

* Spectre of deflation stalking the economy (Times Online)

Anxieties rose on Tuesday that deepening recession could push the economy into the grip of deflation after a key gauge of price pressures showed inflation tumbling to its lowest since 1960.

* FTSE sell-off gathers pace (Guardian Unlimited)

Investors seemed to have reacted badly to today’s inflation figures , which showed RPI inflation perilously close to negative territory.

* St. Louis County man indicted for fraud (Washington Business Journal)

A St. Louis County man was indicted on bank fraud charges after overstating his income on his home mortgage application, U.S. Attorney Catherine Hanaway said Tuesday,

* Inflation to fall to lowest in nearly 50 years (Telegraph)

Experts predict that Retail Prices Index (RPI) inflation, which includes housing and mortgage related costs, may fall into negative territory for the first time in nearly 49 years, further stoking fears over deflation.

* Oak Tree mortgage fraud convictions grow (Richard Mize, Daily Oklahoman)

EDMOND Another person involved in real estate and mortgage fraud in Edmonds upscale Oak Tree neighborhood five years ago has been sentenced to federal prison.

* Bank stocks fall on fears about industry’s health (Seattle Times)

Bank stocks plunged Tuesday, extending last week’s big losses on unrelenting concerns about the stability of the financial system.

* Rate of inflation drops to 3% (Mirror)

The UK’s annual rate of inflation dropped to its lowest level since April last year in January thanks to fuel prices falling at the fastest pace on record, official figures showed.

* Bank dividends doomed? Scoff at your peril (Derek De Cloet, The Globe and Mail)

In the fall of 2007, Bill Miller, then considered one of the finest fund managers of the modern age, sat down at a lunch table at a private club in downtown Toronto and scoffed at the signals of doom.

* Inflation rate falls (The Scotsman)

The key Consumer Prices Index (CPI) measure of inflation dropped to 3% from 3.1% in December, with falling car and transport prices also acting as a drag, the Office for National Statistics (ONS) said.

* December house prices down 2.3% (ITN Online)

House prices dropped by 2.3 per cent during December, pushing the average annual decline to a fresh record.


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