Video

A Second Mortgage Disaster On The Horizon?

December 14, 2008

It turns out the abyss is deeper than most people think because there is a second mortgage shock heading for the economy. In the executive suites of Wall Street and Washington, you're beginning to hear alarm about a new wave of mortgages with strange names that are about to become all too familiar. If you thought sub-primes were insanely reckless wait until you hear what's coming.

Watch this video from CBS 60 Minutes.

World Of Trouble

February 16, 2009

Three years before the housing market crash, Paul Bishop says he warned his superiors at World Savings that many of the mortgages they were granting were misleading and predatory.

Watch this video from CBS 60 Minutes.

Foreclosure Alley

September 23, 2008

For the past few years, the Inland Empire in Riverside County has been one of the fastest growing counties in the state - home to a major housing boom. But now the Inland Empire is pretty much the poster child for the foreclosure crisis. In the newer developments, house after house sits vacant - either up for auction, for sale by a bank or going for what’s called a “short sale” which is when the owner owes more than the house is worth.

Highlights from NAR's Real Estate Summit

NAR's Real Estate Summit brings together real estate professionals in the residential and commercial sectors, opinion leaders, economists, academic leaders, members of the media, and current and former government officials to engage REALTORS in a comprehensive conversation about how to revitalize, regenerate and renew real estate markets across the nation.

Keynote speakers include Former Representative Harold Ford, Jr. (D-Tenn.); political commentator Patrick Buchanan; Dr. Robert Reich, former U.S. Secretary of Labor; Shaun Donovan, U.S. Secretary of Housing and Urban Development; Dr. Alan Greenspan, Former Chairman of the Federal Reserve Board; and Sheila Bair, Chairman of the Federal Deposit Insurance Corporation.