REOs Real Estate Owned in Bellevue

Fear the righteousness of fundamentalists (Otago Daily Times)
The housing bubble has burst, we are heading into hard times and it is important to have hope and a vision for the future - but that vision should not include the "tough love" view of economic management promoted by Sir Roger Douglas, writes Peter Lyons.

Foreclosures targeted by stimulus funds (Daily Herald)
Money to acquire foreclosed homes in Lake County could begin to flow soon.

Cycles of Doom (New York Times)
How government managers encouraged inflation in the 1960s and ?70s and led the American economy into recession.

States look to Fed for budget help (Florida Today)
With Florida foreclosures skyrocketing and unemployment rising above the national average, lawmakers are scrambling to plug a $2 billion budget hole as the economy continues to spiral.

How foreclosures have swept the Valley (The Arizona Republic)
Over 40,000 have lost homes in the last 18 months.

Suit: CBRE Realty Finance Defrauded Shareholders In IPO (Banker & Tradesman)
By Paul McMorrow The bursting housing bubble and credit crisis have not been kind to CBRE Realty Finance. The Hartford, Conn.-based firm was recently de-listed from the New York Stock Exchange, and is ending its relationship with CB Richard Ellis.

An End Run Around Realogy?s Lenders (New York Times)
After the housing bubble burst, a struggle is now emerging over how Realogy?s unfortunate lenders should be treated.

Collier County gets personal with banks to clean up untidy foreclosures (Naples Daily News)
As a record number of foreclosures hits Collier County month after month, the county is quietly making headway on at least one problem: persuading banks to mow the lawns of vacant homes — and even clean the pools. Officials said a code-enforcement program started Nov. 6 has already saved the county thousands of dollars when it comes to sprucing up foreclosed properties.

Foreclosures Revive Home-sharing (NPR)
With the rise in foreclosures, many people are going back to an old-fashioned way to save on housing: sharing. One newly married couple decided to try the measure after one spouse was laid off. Vermont Public Radio's Nina Keck reports.

KRUGMAN: Now is time to head off next crisis (The Santa Rosa Press Democrat)
A few months ago I found myself at a meeting of economists and finance officials, discussing -- what else' -- the crisis. There was a lot of soul-searching going on. One senior policymaker asked, "Why didn't we see this coming'"There was, of course, only one thing to say in reply, so I said it: "What do you mean 'we,' white man'"

Minnetonka not immune to home foreclosures (Minnetonka Sun-Sailor)
For two years the number of home foreclosures has steadily increased in the city of Minnetonka, but in 2008 the number has exploded. The housing and financial crisis has not hit Minnetonka as hard as some other Minnesota cities, but neither is the community immune to the problem.

The Housing-Bubble and the American Revolution (New York Times)
A burst housing bubble and ensuing deep recession may have set off the American war for independence.

UPDATE: BOE Besley: Rates Not Way To Tackle Asset Bubbles (Nasdaq)
LONDON -(Dow Jones)- The role of the bursting housing bubble in the financial crisis doesn't undermine the case for inflation targeting, Bank of England Monetary Policy Committee's Tim Besley has said.