Sunday, August 30, 2009

August Vacation Reading

This blog has primarily been on vacation during August, in places where rents are down because inventory is high.*  This thing'll be back in force in September with  commentary, market watching, and colorful graphs. Until then, some reading to share, loosely arranged in categories, Local, Regional, Behavior, Mortgages & Foreclosures, Banking.

Local

The Landmark Hotel Becomes Waste Transfer Station. We appreciate TheRutabaga's humor. An actual use for this eyesore may be vertical farming. Advantage? Saves water. And would be a real landmark on the Downtown Mall.

Swine Flu: today, there are 10 cases at UVA. There were many more documented cases over the summer. Get the facts.

Rural Tax Break: The deadline for revalidating County land as agricultural or under a "forest management" plan is Tuesday, September 1.

Ugly unemployment graph for Charlottesville area.

Regional

Federal regulators enter into agreement with Virginia Business Bank, based in Richmond. Only one other bank in the Commonwealth is in a formal agreement.

Massive land foreclosure auction in Loudon County.

Wal-Mart: Orange County supes OK the behemoth near The Wilderness.  Egregious.

Behavior


If you can't buy or sell that house, shouldn't you buy a new couch?


A reluctance to spend may be the legacy of The Great Recession, so maybe no new couch.


Find out about Impulsive Behavior Disorder at Seattle Bubble.  Don't miss the comments.

What happens when you're  middle aged, male, used to make $225K a year in the financial services industry, and have been out of work for 18 months?  Read here.

The house of your dreams, and nightmares.

Buyer RemorseThis story is about Manhattan, but it happens everywhere.  

Housing Hypocrites, from Mish.   Is there a moral obligation to pay a mortgage? 

Whole Foods Alternative to Healthcare by Whole Foods CEO John Mackey.  And the resulting Whole Foods Boycott.

The New American Real Estate Dream is Renting: Google this phrase, along with "WSJ" for a fascinating article.  

Defies Categorization ;0)

81% of Homeowners Think Their Houses Will Increase In Value In Next Six Months. 
What are they drinking thinking?


Mortgages and Foreclosures

Four Signs Your House Is About to Lose Value.
Mortgage deliquencies and Bankruptcy Filings by state.

What's an Option ARM, and how's it going to F up housing over the next couple years?  Locally, you may have read about this kind of risky product at C-VILLE and on this blog.  But read more on the coming recasts and resets, in this NYT article.

July foreclosures at record highs.

Mortgage and foreclosure crisis peaking in late 2010.

Once homeowners stop paying on the mortgage, they almost never go back.


Banking 
 
The latest "Problem Bank List."

Banks "too big to fail" have grown even bigger--with the help of Government and taxpayer's money.

Meanwhile, the FDIC fund is getting drained by failing banks. The losses are actually higher than during the S&L crisis. Every Friday afternoon the FDIC takes over banks; here's a list YTD.

The Fed is Impotent.

Yikes
$9 Trillion US Deficit

And finally, this has nothing to do with housing or the economy or banking or....


*(Wait a sec...coulda just staycationed out in the County...rats.)

3 comments:

downtownenvy said...

Bubblers,
Is it possible that you folks could start serving a very strong martini with posts like this? Yikes.

Real C'ville - The Bubble Blog said...

Well, along with those fab new bricks on the Downtown Mall, there's new wireless. You can pick up the internet in any bar now. (Some "sloshed" comments might be kinda fun....)

downtownenvy said...

I'm not sure you guys want me sloshed and talking about local real estate. It would not be a good combo, but it might be fun anyway;).