Ouch!!

Another record low.

Pending Home Sales Fall 1.9% to Record Low

Pending sales of previously owned homes fell a bigger-than-expected 1.9 percent in February to the lowest level on record, according to a report from a real estate trade group Tuesday that pointed to more troubles in the beleaguered housing market. The National Association of […]

That’s not all.  The future’s not looking too great, either.

The Losses to Come

Everyone’s favorite word- trillion: “The International Monetary Fund said losses stemming from the U.S. mortgage crisis may approach $1 trillion, citing a “collective failure’’ to predict the breadth of the crisis. Falling U.S. house prices and rising delinquencies may lead to $565 billion in mortgage-market losses, the IMF said in its annual Global Financial Stability report, released […]

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