Interesting Housing News Links (March 08, 2009)

* Clusters of trouble (Crain’s Cleveland Business)

Fresh off being tagged as Foreclosureville by The New York Times , our region makes an appearance in a USA Today piece noting that more than half of the nation’s foreclosures last year took place in 35 counties.

* The ailing economy: How sick can it get?

The recession is already in its 15th month, making it longer than all but two downturns since World War II. For now, everything seems to be getting worse: The Dow is in free fall, jobs are vanishing every day, and one in eight American homeowners is in foreclosure or behind on payments.

* Economists watch for turning point

The recession is already in its 15th month, making it longer than all but two downturns since World War II. For now, everything seems to be getting worse: The Dow is in free fall, jobs are vanishing every day, and one in eight American homeowners is in foreclosure or behind on payments.

* Foreclosure hits Lesslie man hard (The Herald)

LESSLIE — Bill Wright answered his door a few days ago. He found reality wearing a business suit wanting the mortgage money.

* Mobile homeowner sees large increase in space rent (Visalia Times-Delta)

Today, March 1, marks my 35 years in Royal Oaks Mobilehome Community. My five-year city lease expires May 1. I just received notification from my landlord that my rent is being increased $88 a month plus annual cost-of-living increases. This makes me paying $495 per month plus almost $30 a month for storm drain, garbage and sewer. This is an increase of 21%.

* SELL-OFF IS ECONOMY’S BIDDER PILL (John Crudele, New York Post)

THE cleanup of a US housing industry is finally hitting New York City today. It was only a matter of time.

* “Celtic Tiger” No More (CBS News)

“Celtic Tiger” No More CBS Evening News: After Decade-Long Boom, Ireland’s Economy Goes Bust, And Emigrants Feel Betrayed

* Common cause needed to fight common enemy (Terry Ross, Yuma Sun)

Lately, when I read about the economic crisis and the need for money to stimulate the economy, I have been thinking about World War II.

* 30-year fixed mortgage rate climbs slightly (San Francisco Chronicle)

The average rate on a 30-year fixed mortgage increased to 5.15 percent from 5.07 percent the previous week. A year ago, the 30-year fixed-rate mortgage averaged 6.03 percent.

* Changes in the tax code for 2008 will mean different things to individuals and businesses (Leslie Berkman, Press-Enterprise)

Some workers and retirees will find a silver lining when they file their taxes this year, while others will be doused by another rain cloud. It depends on how each individual fares from the tweaking of the 2008 tax code that was designed to revive the economy.

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