REOs Real Estate Owned in Manchester

Our retail therapy is in China, India and Germany (Financial Times)
For much of the past three years, as it became evident that the US housing bubble was bursting, I believed that the old adage "the US catches a cold, the world catches pneumonia" would be laid to rest, helped by the emergence of the so-called Brics - Brazil, Russia, India, China.

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.

Editorial: Fed Targets Mortgage Markets (The Philadelphia Inquirer)
The federal government's dizzying series of bailouts finally has taken aim at the industry where the cash can do the most good - housing.

Lee County courts tackle housing crisis (The News-Press)
Next week the circuit court in Lee County launches its assault on more than 25,000 foreclosures backed up in the system.

Foreclosures under review in Britain (UPI)
LONDON, Nov. 28 (UPI) -- The Financial Services Authority, Britain's financial watchdog, has given lenders until Jan. 31, to review their policies on mortgage foreclosures.

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

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 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'"

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

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

Reform, housing bubble's burst delivers double shock (The Post and Courier)
Talk about kicking them when they're down. Tens of thousands of people bought properties in Berkeley, Charleston, and Dorchester counties in 2007, only to see the value of many of those properties decline as the housing bubble burst. Then, those same people saw their property tax bills soar this year because of changes to the tax system voters approved in a 2006 constitutional referendum.