* New round of defaults casts cloud over capital housing recovery (Jim Wasserman, Sacramento Bee)
We’re going to find out now whether foreclosure moratoriums and new loan-modification programs will work.
* Senate defeats Obama-backed, anti-foreclosure bill (Anne Flaherty, San Francisco Chronicle)
dozen Democrats joined Republicans in the 45-51 vote to scuttle the bill, which Obama had said was important to saving the economy and promised to push through Congress. But facing stiff opposition from banks, Obama did little to pressure lawmakers who worried it would encourage bankruptcy filings and spike interest rates.
* Don’t dismiss state help for mortgagebacked securities (George Hay, The Daily Telegraph)
Slicing and dicing huge quantities of duff mortgages into securities and selling them to investors who were oblivious to their poor quality undermined the financial system.
* April reappraisal notices likely to bring May protests (Pam Zubeck, The Gazette)
Notices of property values will be mailed to El Paso County’s 260,000 property owners today, reflecting the results of the 2008 reappraisal, which set values for 2010 taxes.
* ‘Cramdown ‘ Lacks Votes (Elizabeth Williamson, Wall Street Journal)
President Barack Obama’s proposal to give homeowners new relief in bankruptcy court appears headed to defeat in the Senate Thursday, barring a last-minute compromise.
* People are angry. Of course, people are always angry, because it’s one of the… (Jon Carroll, San Francisco Chronicle)
Let me tell you about my life. No, stop looking at your watch – this is just 850 words, and you can sit still for that. Without revealing too many details, let me just give you an overview of my financial situation. I’m employed, although I’m employed in the newspaper business, so how much does that really count? But still, a paycheck. Yes, I am one of those millions of Americans – a majority o…
* How the Lutherans put down roots (Marty Gibson, Ahwatukee Foothills News)
In the beginning there was Ahwatukee, and folks made fun of its name. Foothills wasnt yet part of the landscape, and neither was much else.
* Small kitchen, smaller budget? 5 tips to renovate (Josh Hoffner, The Gazette)
An intriguing trend has emerged from the wreckage of the real estate market: The brave souls taking the plunge into homeownership are increasingly turning to studio apartments and smaller homes.
* Recession puts brakes on car-share initiative (Linda Mc Kee, Belfast Telegraph)
Northern Irelands first pay-as-you-go car club has fallen prey to the recession less than a year after it was launched at Stormont.
* FOXBusiness: U.S. Home Prices Dip at Fastest-Ever Pace (Steve Gelsi, Fox News)
You’re at a fruit market. But, instead of just being able to buy apples at this fruit market, you can also sell fruit. You’re not a farmer, so you come to the market to buy some apples and you see two fruit stands. Fruit Stand A on the left is buying and selling apples at 50 cents apiece. However, Fruit Stand B on the right is buying and selling apples at 53 cents apiece. People are buying and …