Collapsing home prices and credit markets continue

The Next Leg Down

By Mike Whitney

Collapsing home prices and credit markets continue to put downward pressure on consumer spending, forcing the Federal Reserve to take even more radical action to revive the economy. Last week, Fed chief Ben Bernanke raised the prospect of further monetizing the debt by purchasing more than the $1.75 trillion of Treasuries and mortgage-backed securities (MBS) already committed.

http://informationclearinghouse.info/article22714.htm



Home prices fall at record pace in first quarter

The Standard & Poor's/Case-Shiller National Home Price index reported home prices tumbled by 19.1 percent in the first quarter compared to the first quarter last year, the largest drop in its 21-year history. Home prices have fallen 32.2 percent since peaking in the second quarter of 2006.

http://www.msnbc.msn.com/id/30940713


From Information Clearing House



http://freepage.twoday.net/search?q=home+prices
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http://freepage.twoday.net/search?q=consumer+spending
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http://freepage.twoday.net/search?q=treasuries
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