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...housing market's peak in July 2006, home prices have plunged 30% on average, with prices in some markets, such as Las Vegas, Phoenix and parts of Florida, falling more than 60%. NAR's Yun estimates home-equity losses from the housing meltdown totaled $7 trillion at the end...
...projected to hit 10.5% this year, the number of homeowners defaulting on their mortgages is expected to surge. At least $64 billion in option ARMs will reset in 2010 and another $68 billion in 2011, according to First American CoreLogic, a real estate and mortgage-data company. (See high-end homes that won't sell...
Adding to the sector's woes - the Federal Reserve has indicated it plans to end a program that's helped keep mortgage rates at attractive levels for home buyers. The Fed program, which involved purchasing up to $1.25 trillion in mortgage-backed securities backed by Fannie and Freddie, will expire on March 31. Rates have already started to inch up in anticipation of the change, with the average 30-year fixed-rate mortgage surpassing the 5% mark in December. (See 10 things to buy during the recession...
...restart Israeli-Palestinian talks on a two-year deadline for the creation of a Palestinian state. That time frame was immediately dismissed as unrealistic by Israel's Foreign Minister. Skeptics might remember that President George W. Bush's 2002 road map to peace envisaged Palestinian statehood and an end to the conflict...
...International Studies. "But another aspect is the feeling of not being accepted by the rest of Danish society. The harsh tone of the political debate in Denmark has had the consequence that many feel they are not being recognized as equal citizens." (Watch the video "Yemen a Dead End for Somali Refugees...